InsightAce Analytic Pvt. Ltd. has unveiled a comprehensive market assessment report on the global digital agriculture sector, projecting significant growth and transformation in the coming years. The report, titled “Global Digital Agriculture Market Size, Share & Trends Analysis Report,” provides an in-depth analysis of the market’s current state and future trajectory, segmented by offerings, technology, operation, type, and region.
The global digital agriculture market is poised for substantial expansion, with an estimated value of USD 21.72 billion in 2023, and is expected to surpass USD 51.35 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.55% during the forecast period. This growth is driven by the urgent need to enhance food production, improve operational efficiency, and address labor shortages, particularly in the face of a growing global population and shrinking arable land.
Digital agriculture leverages advanced technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data analytics to revolutionize farming practices. Automated systems, smart crop sensors, and unmanned aerial vehicles (drones) enable farmers to monitor and optimize the use of water, fertilizers, pesticides, and other inputs, leading to improved crop health and yield optimization. These innovations are crucial for ensuring food security and promoting sustainable farming methods.
The report highlights several key drivers and challenges shaping the digital agriculture market. Rising awareness of the potential benefits of digital agriculture, coupled with technological advancements, is fueling market growth. However, high initial investment requirements and a shortage of technical expertise pose significant barriers to widespread adoption, particularly in emerging and developing economies.
The market is segmented into various categories to provide a detailed understanding of its dynamics. By offerings, the market is divided into advisory services, precision agriculture & farm management, quality management & traceability, digital procurement, agri e-commerce, and financial services. By technology, it is categorized into peripheral and core technologies, including platforms, apps, automation, drones, robotics, and AI/ML. By operation, the market is segmented into farming & feeding, monitoring & scouting, and marketing & demand generation. By type, the market is classified into hardware, software, and services.
Regionally, North America is expected to capture a significant share of the market, driven by the presence of leading agricultural equipment manufacturers and supportive government initiatives. Europe also maintains a strong position, supported by financial stability, access to cutting-edge technologies, and effective regulatory frameworks. The Asia-Pacific region, particularly countries like China and India, is poised for rapid growth due to increasing adoption of digital farming solutions and government support for agricultural modernization.
Prominent players in the digital agriculture market include Cisco Systems, Inc., IBM Corporation, Accenture, Trimble Inc., Deere & Company, Epicor Software Corporation, Hexagon AB, Bayer AG, AGCO Corporation, and Vodafone Group PLC. These companies are at the forefront of innovation, continuously developing new solutions to enhance agricultural productivity and sustainability.
Recent developments in the sector include Trimble’s introduction of the Connected Climate Exchange, a carbon marketplace aimed at making the agricultural supply chain more sustainable. AGCO Corporation launched FarmerCore, a global program designed to provide farmers and dealers with an unparalleled experience, furthering their commitment to improving profitability, productivity, and sustainability.
The report also provides insights into the competitive landscape, market dynamics, and regional trends, offering a comprehensive overview of the digital agriculture market. It serves as a valuable resource for stakeholders, including farmers, technology providers, investors, and policymakers, seeking to understand the opportunities and challenges in the rapidly evolving digital agriculture sector.
