PUBLISHER: Value Market Research | PRODUCT CODE: 1549492
PUBLISHER: Value Market Research | PRODUCT CODE: 1549492
The global demand for Digital Agriculture Market is presumed to reach the market size of nearly USD 65.49 BN by 2032 from USD 24.59 BN in 2023 with a CAGR of 11.5% under the study period 2024 - 2032.
Digital agriculture, or precision agriculture, involves using advanced technologies and data analytics to optimize farming practices and improve crop production. This field integrates tools such as GPS, drones, sensors, and big data analytics to monitor and manage agricultural activities with high precision. Collecting & analyzing data on soil conditions, weather patterns, and crop health enables farmers to make informed decisions, enhance resource efficiency, and increase yields. This approach fosters sustainable farming practices and helps address climate change and resource scarcity challenges in modern agriculture.
Market Dynamics
The scarcity of labour, combined with rising food demand, is the primary driver of the worldwide digital agricultural market. As the world's population expands, so does the demand for more food, which necessitates more production at a lower cost in an environment with limited resources. In addition, the demand for digital agricultural solutions is being bolstered by a growing shortage of farmworkers due to urbanization in search of a reliable source of income. In addition, as natural resources such as water become rarer and the climate changes, like the greenhouse effect, demand for digital agriculture to maximize resource efficiency and productivity grows, propelling the market ahead. Increased use of technology and electrical devices in agriculture could open up new opportunities for the market to grow. However, individuals' lack of technical understanding, on the other hand, may stifle market expansion.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of digital agriculture. The growth and trends of digital agriculture industry provide a holistic approach to this study.
Market Segmentation
This section of the digital agriculture market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Digital Agriculture market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Digital Agriculture market include Cisco Systems Inc. (US), IBM Corporation (US), Accenture (Ireland), Deere & Company (US), Trimble Inc. (us), AKVA Group (Norway), Hexagon AB (Sweden), Bayer AG (Germany), AGCO Corporation (US), DeLaval (Sweden), DJI (China), Epicor Software Corporation (US), Vodafone Group PLC (UK), Raven Industries Inc. (US), Eurofins Scientific (France), TELUS (Canada), Small Robot Company (England). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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