Digital Farming Market

Digital Farming Market Share was valued at USD 4,724 Million in 2019 and is expected to register a CAGR of 12% during the forecast period.

Digital Farming Market Overview

Digital farming is the application of precision farming and smart farming methods, internal and external networking of the farm, and using web-based data platforms together with big data analyses. Digital farming has the potential to revolutionize agriculture and offer remarkable benefits to the farmers and society. It helps in accelerating the production volume by means of advanced digital technologies. This form of farming helps in extracting field, crop, nutrient, and hydration information to predict the outcomes through processed and aggregated data information.

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Major Digital Farming Market Drivers

The global digital farming market is predicted to flourish at a remarkable pace during the forecast period. The significant rise in the rate of population, the strong demand for food grains, vegetables, fruits, and timber, followed by the declining rate of arable land at the global level, are the key factors energizing the demand for digital farming. The rapid digitalization and continuous technological advancement in the agriculture sector have promoted the adoption of digitalized agriculture techniques to improve yield quality, minimize the manual efforts, thereby surging the overall farmer’s productivity through the application of numerous equipment and smart devices. In parallel, the accelerated population of green farming methods and the strong demand for quality crops among the commercial growers and farmers are further encouraging them to opt for the digital farming method to capture the emerging demand of the target consumers. Digital farming method offers livestock monitoring, higher productivity, and lower investment. On the other end of the spectrum, the high initial capital cost and the lack of awareness regarding digital farming among the farmers is likely to restrain the market growth in the coming years.

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Based on the component, the market is segmented into hardware, software, and others. Among these, the hardware segment is projected to lead the market over the forecast period attributed to the accelerated adoption of hardware components for digital farming. Moreover, the drastic increase in the usage of automation and control systems and sensing and monitoring devices will further strengthen the growth of the segment.

On the basis of Application, the market is segmented into precision farming, livestock farming, green house farming, and others. Among these, the precision farming segment is anticipated to grow at a higher CAGR during the forecast period. This is due to the growing adoption of precision farming method driven by the increasing requirement for optimum crop production with limited available resources. Additionally, the rapidly increasing demand for food across the globe will further promote the farmers to opt for precision farming method.

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Regional – Segment Analysis

On the basis of region, the North America is expected to grow at a higher CAGR during the forecast period. This is attributed to the increasing usage of digital farming technologies, especially in the United States of America and in Canada, along with the high investment in the R&D activities to bring technological advancement in the farming methods. In addition to this, the development of numerous farming management software and equipment will further pay the way for boosting the demand of the market in the coming years.

Top Market Players

Various notable players operating in the global Digital Farming market include Vodafone Group PLC, Trimble Inc., Salt Mobile SA, Accenture, Deere & Company, IBM, Epicor Software Corporation, and Hexagon among others.

Key Developments: 

• • In 2019, Trimble Inc., announced the launch of its Real-Time Network (RTN) portfolio that will enable the enable the operators to capture the demand of surveyors, mapping professional, and precision farmers for accurate and reliable real-time networks.
  • In 2019, Cisco and Tata Consultancy Services (TCS) entered into a partnership to establish new Centre of Excellence (CoE). This CoE will benefit both the firm’s clients through solution-oriented advancements.

Segments covered in the Report:

The global Digital Farming market has been segmented on the basis of Component, Application and key regions. Based on Component, the market is segmented into Hardware, Software and Others. Based on Application, the market is segmented into Precision Farming, Live Stock Monitoring, Green House Farming and Others.

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Key questions answered in this research report:

• • At what pace is global Digital Farming market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Digital Farming market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Digital Farming market?
  • Which product generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various application areas of global Digital Farming market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Digital Farming Market by Component

• • Hardware
  • Software
  • Others

Global Digital Farming Market by Application

• • Precision Farming
  • Live Stock Monitoring
  • Green House Farming
  • Others

Global Digital Farming Market by Region

• • North America Digital Farming Market (Option 1: As a part of the free 25% customization)

• • • North America Digital Farming Market by Component
    • North America Digital Farming Market by Application
    • US Digital Farming Market All-Up
    • Canada Digital Farming Market All-Up

• • Europe Digital Farming Market (Option 2: As a part of the free 25% customization)

• • • Europe Digital Farming Market by Component
    • Europe Digital Farming Market by Application
    • UK Digital Farming Market All-Up
    • Germany All-Up Digital Farming Market All-Up
    • France Digital Farming Market All-Up
    • Spain Digital Farming Market All-Up
    • Rest of Europe Digital Farming Market All-Up

• • Asia-Pacific Digital Farming Market (Option 3: As a part of the free 25% customization)

• • • Asia-Pacific Digital Farming Market by Component
    • Asia-Pacific Digital Farming Market by Application
    • China Digital Farming Market All-Up
    • India Digital Farming Market All-Up
    • Japan Digital Farming Market All-Up
    • Rest of APAC Digital Farming Market All-Up

• • RoW Digital Farming Market (Option 4: As a part of the free 25% customization)

• • • RoW Digital Farming Market by Component
    • RoW Digital Farming Market by Application
    • Brazil Digital Farming Market All-Up
    • South Africa Digital Farming Market All-Up
    • Saudi Arabia Digital Farming Market All-Up
    • UAE Digital Farming Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Digital Farming Market All-Up

Major Players Operating the Digital Farming (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Vodafone Group PLC
  • Trimble Inc.
  • Salt Mobile SA
  • Accenture
  • Deere & Company
  • IBM
  • Epicor Software Corporation
  • Hexagon