WASHINGTON, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The global Digital Agriculture Market was valued at $12.8 Billion in 2021 and is expected to reach $22.1 Billion by 2028, registering a CAGR of 9.6% during the forecast period of 2022-2028. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Vantage Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Vantage Market research has a newly released expansive study titled Global Digital Agriculture Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Digital Agriculture report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one's rivals. It classifies the global Digital Agriculture market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the market and the Digital Agriculture industry as a whole appears to be quite positive during the projection period.
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List of Prominent Players in the Digital Agriculture Market:
- DTN (US)
- Farmers Edge Inc. (Canada)
- Taranis (US)
- Eurofins Scientific (Luxembourg)
- Agri Webb (Australia)
- Monsanto Company (US)
- Bayer AG (Germany)
- Deere & Company. (US)
- Accenture (Ireland)
- Syngenta AG (Switzerland)
- Ag Gateway (US)
- CropX inc. (US)
- Farmers Business Network (US)
- BASF SE (Germany)
- Digital Globe (US)
Market Dynamics:
Drivers:
Increasing Burden on Research and Development (R&D) Regarding Increasing Global Food Supply Demand
The current world population is 8.0 billion as of June 2022, according to the most recent United Nations estimates elaborated by World meter. The population around the world is increasing, and every year as the population increases, to suffice their rising food needs, it is necessary to produce more food and increase agriculture output. The growing knowledge of the benefits of digital agriculture in improving agricultural productivity resulted in a significant increase in the agricultural market. With rising food demand due to population growth, farmers will be forced to use digital agriculture equipment. Digital agriculture helps the farmer to grow crops at maximum production at minimum available resources. Simultaneously, it is necessary to utilize less energy and labor while enhancing environmental land and water management. Due to this, factor digital agriculture drives the market growth.
Technological Improvement
Technological advancement in this sector plays an essential role in supporting market growth as the population increases and farmers have to produce more food with limited resources. In this situation, digital agriculture came ahead with these different tools used while farming, such as satellite guiding, nitrogen management, yield prediction, robotic milking, drones, cloud computing, and hybrid planters, to name a few. These tools are widely used in digital agriculture. These tools help farmers focus and help to monitor the entire field and use GPS to point to the location where extra attention is needed. For example, nitrogen management is done using such tools, which help predict how much nitrogen is left-over in the soil and what quantity is required. Therefore, these tools will allow farmers to make accurate decisions. Hence, this technological advancement is expected to support Digital Agriculture Market growth.
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Segmentation Analysis:
- Type
- Crop Monitoring
- Artificial Intelligence
- Precision Farming
- Applications
- Field Mapping
- Crop Scouting
- Weather Tracking
- Drone Analytics
- Financial Management
- Farm Inventory Management
- Other Applications
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The Report on Digital Agriculture Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
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Regional Analysis:
North America Leading Market Growth
North America is expected to dominate the growth of Digital Agriculture Market in 2021. Increasing adoption of newly developed technology and government initiatives to encourage using modified technology are supporting the market growth in this region.
Recent Developments:
In 2021, CNH Industrial pitched an initiative AGXTEND in Brazil. This is an innovative program in the field of digital agricultural solutions. The company is set to offer the best standards for all stages of the cultivation cycle to benefit all profiles and types of farmers. The management and monitoring solutions are based on drone images. In addition, the program offers services for soil diagnosis. The model for this is such that in which the customer pays for the service provided and not for the types of equipment used.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Digital Agriculture market Forecast Report (2022-2028).
Why Buy this Digital Agriculture Market Report?
- The report offers a comprehensive evaluation of the Global Digital Agriculture Market. The report includes verifiable data from authentic sources, in-depth qualitative analysis, and estimates about size of market. Estimates are calculated using proven research methods.
- The report includes in-depth market analysis using Ansoff Matrix and Porter's 5 Forces Model. Apart from this, the pre-post impact of Covid-19 on the Digital Agriculture market is also featured in the report.
- This Digital Agriculture report has been organize through extensive primary and secondary research. Primary research is done through interviews, surveys and observation of eminent persons in the industry.
- The Digital Agriculture industry report also includes a competitive analysis using the analyst's proprietary competitive positioning tool.
- The report also covers the regulatory landscape in the Digital Agriculture industry, which will help you make an informed decision. The report discusses key regulations and rules imposed on the sector by major regulatory bodies and various geographies.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 12.8 Billion |
| Revenue Forecast by 2028 | USD 22.1 Billion |
| CAGR | 9.6% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | DTN, Farmers Edge Inc., Taranis, Eurofins Scientific, Agri Webb, Monsanto Company, Bayer AG, Deere & Company, Accenture, Syngenta AG, Ag Gateway, CropX Inc., Farmers Business Network, BASF SE, Digital Globe |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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