Global Digital Agriculture Market Size, Opportunities, COVID-19 Impact, And Trends, By Type (Crop Monitoring, Artificial Intelligence, Precision Farming), By Applications (Field Mapping, Crop Scouting, Weather Tracking, Drone Analytics, Financial Management, Farm Inventory Management, Others), And By Geography - Forecasts From 2021 To 2026

Published:  Jul 2021 Report Code: KSI061613955 Pages: 120

The global digital agriculture market is expected to grow at a CAGR of 11.04% and is likely to reach the market size of US$23.998 billion in 2026, rising from an initial value of US$11.527 billion in 2019. Digital agriculture is known as the use of novel, advanced and innovative technologies, integrated into one specific system or software, to allow various stakeholders such as farmers, researchers, and others, that are working within the agriculture system or a value chain, to enhance their crop yield and food production. The market is expected to grow during the forecast period owing to a significant rise in the concerns towards food security and nutritional values as these are expected to pave the way for an ample number of opportunities for market growth in the coming years.  Moreover, a significant number of investments are being made in the sector owing to the rising consumer demands.

global digital agriculture market

Rising concerns towards increased crop productivity and increasing pressure towards increasing crop health

The market for digital agriculture is expected to be driven by the rise in the concerns attributed to increased crop productivity and improving crop health. This is due to a significant rise in the awareness amongst the end consumers for healthier alternatives. This has resulted in a rise in the pressure amongst the farmers to more and healthier food and animal feed whilst consuming a lesser amount of chemicals. IoT will play an imperative role in the growth of the digital agriculture market as it provides a finer method to control and measure growth factors such as soil and water conservation, irrigation, and proper usage of fertilizers and pesticides on a farm and agricultural land. Certain IoT tools are registering a significant demand in the market. GPS devices on tractors are gradually becoming popular in the digital market space, as they enable farmers to plant and cultivate crops in an efficient manner and it also saves and analyses travel time between different fields, which helps in the conservation of fuel and time.

global digital agriculture market

INCREASING USAGE OF Crop monitoring

The crop monitoring system is a system that allows farmers to perform real-time crop vegetation index monitoring by analyzing satellite images of different crops and fields so as to determine both negative and positive development of the crops. By getting the different vegetation indexes of a farm over a period of time, the farmer is able to determine whether there is an improvement in the farm or whether there is a deterioration in the farm. From this analysis, the farmer is able to take any corrective measures that may be needed on the farm. Moreover, performing crop monitoring through satellites is found to be reliable since it accommodates regular revisit rates, produces consistent and accurate data, and also offers wide land coverage.

The UNITED STATES to have a major share

The United States agriculture sector stretches beyond the farm-related business to include a plethora of farm-related industries. According to the report given by the United States Department of Agriculture in the year 2019, agriculture, food, and other related industries contributed approx. US$1.109 trillion to the country’s gross domestic product, a total of approx. 5.2% share. The United States government has been spending a significant sum of capital on research and development related to precision and digital agriculture. In September 2020, the National Science Foundation and other government organizations announced that it would provide US$140 million to around seven NSF- led artificial intelligence institutes, intending to focus on precision and digital farming, and other critical industries. Major companies have been investing a significant sum of capital into the United States digital agriculture market. For instance, in July 2020, Netafim USA, a subsidiary of Netafim Ltd, announced a partnership with Sentek Technologies, intending to distribute Sentek's line of soil moisture sensors. The agreement would help Netafim to equip American growers with complete digital farming solutions. IBM is also making significant developments in the market. The company provides agricultural data and weather API solutions to farmers in the United States. By the combination of IoT, artificial intelligence, and predictive analysis, the stakeholders across the agriculture and farming business in the United States, could gain insights into potential problems and expected crop yields.

Global Digital Agriculture Market Scope:

Report Metric Details
 Market size value in 2019  US$11.527 billion
 Market size value in 2026  US$23.998 billion
 Growth Rate  CAGR of 11.04% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  IBM Corporation, Microsoft Corporation, HummingBird Technologies, AGCO   Corporation, Gamaya SA, Bayer CropScience AG, Deere & Company, Easytosee   Agtech, Small Robot Company, Raven Industries
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Type
    • Crop monitoring
    • Artificial Intelligence
    • Precision farming
  • By Application
    • Field Mapping
    • Crop scouting
    • Weather tracking
    • Drone analytics
    • Financial Management
    • Farm inventory management
    • Others
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • Spain
      • UK
      • France
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • South Africa
      • Others
    • Asia Pacific
      • China
      • Japan
      • Australia
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the digital agriculture market size by 2026?
A1. The global digital agriculture market is expected to reach a market size of US$23.998 billion in 2026.


Q2. What is the size of global digital agriculture market?
A2. Digital Agriculture Market was valued at US$11.527 billion in 2019.


Q3. What are the growth prospects for the digital agriculture market?
A3. The global digital agriculture market is expected to grow at a CAGR of 11.04% over the forecast period.


Q4. Which region holds the maximum market share of the digital agriculture market?
A4. The UNITED STATES to have a major share of the digital agriculture market.


Q5. What factors are anticipated to drive the digital agriculture market growth?
A5. The digital agriculture market is expected to grow during the forecast period owing to a significant rise in the concerns towards food security and nutritional values.

1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. DIGITAL AGRICULTURE MARKET BY TYPE
5.1. Introduction
5.2. Crop monitoring 
5.3. Artificial Intelligence
5.4. Precision farming

6. DIGITAL AGRICULTURE MARKET BY APPLICATION
6.1. Introduction
6.2. Field Mapping
6.3. Crop scouting
6.4. Weather tracking 
6.5. Drone analytics
6.6. Financial Management
6.7. Farm inventory management
6.8. Others

7. DIGITAL AGRICULTURE MARKET BY GEOGRAPHY 
7.1. Introduction
7.2. North America
7.2.1. North America Digital agriculture Market, By Type, 2019 to 2026
7.2.2. North America Digital agriculture Market, By Application, 2019 to 2026
7.2.3. By Country
7.2.3.1. United States
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. South America
7.3.1. South America Digital agriculture Market, By Type, 2019 to 2026
7.3.2. South America Digital agriculture Market, By Application, 2019 to 2026
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Others
7.4. Europe
7.4.1. Europe Digital agriculture Market, By Type, 2019 to 2026
7.4.2. Europe Digital agriculture Market, By Application, 2019 to 2026
7.4.3. By Country
7.4.3.1. Germany
7.4.3.2. Spain
7.4.3.3. UK
7.4.3.4. France
7.4.3.5. Others
7.5. Middle East and Africa
7.5.1. Middle East and Africa Digital agriculture Market, By Type, 2019 to 2026
7.5.2. Middle East and Africa Digital agriculture Market, By Application, 2019 to 2026
7.5.3. By Country
7.5.3.1. Saudi Arabia
7.5.3.2. South Africa
7.5.3.3. Others
7.6. Asia Pacific
7.6.1. Asia Pacific Digital agriculture Market, By Type, 2019 to 2026
7.6.2. Asia Pacific Digital agriculture Market, By Application, 2019 to 2026
7.6.3. By Country
7.6.3.1. China
7.6.3.2. Japan
7.6.3.3. Australia
7.6.3.4. India
7.6.3.5. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. IBM Corporation
9.2.  Microsoft Corporation
9.3.  HummingBird Technologies
9.4.  AGCO Corporation
9.5.  Gamaya SA
9.6.  Bayer CropScience AG
9.7.  Deere & Company
9.8.  Easytosee Agtech
9.9. Small Robot Company
9.10.  Raven Industries

IBM Corporation

Microsoft Corporation

HummingBird Technologies

AGCO Corporation

Gamaya SA

Bayer CropScience AG

Deere & Company

Easytosee Agtech

Small Robot Company

Raven Industries

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