Digital Agriculture Market

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Digital Agriculture Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Component types (Hardware [Displays, Drones/UAVs, GPS/GNSS Devices, Guidance and Steering Systems, Irrigation Controllers, and Others], Software, and Services), Applications (Live Stock Monitoring, Greenhouse Farming, Crop Monitoring, Artificial Intelligence, Precision Farming, Field Mapping, Crop Scouting, Weather Tracking, Drone Analytics, Financial Management, Farm Inventory Management, Yield Monitoring), By Deployment (Cloud, On-Premise, and Hybrid), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa)

Published Date: August 2022
Report ID: BWC22259
Available Format: PDF
Page: 215

Report Overview

There is constant pressure on the farmers to produce more food and animal feed with lesser amounts of chemicals. At the same time, it is essential to use less energy and labor while improving the management of environmental land and water. With the population growing rapidly, it is becoming very difficult to feed the increasing population, thereby creating high pressure to increase agricultural productivity. The use of software such as precision farming along with the Internet of Things (IoT) tools is a solution to all these requirements.

Global Digital Agriculture Market - Industry Trends & Forecast Report 2028

The global digital agriculture market was worth USD 10.7 billion in 2021 and is further projected to reach USD 31.8 billion by the year 2028, exhibiting a CAGR of 16.8% during the forecast period (2022-2028). Growing demand for higher crop health and production, labor scarcity in agriculture, and the rising concern about food security and nutrition are the main reasons propelling the market for digital agriculture. The agriculture sector has experienced a significant rise owing to the growing awareness of the advantages of digital agriculture in maximizing agricultural production as the paucity of labor, combined with rising food demand. As the world’s population grows, so does the demand for more food, which requires more production at a lower cost in a limited resource environment. Farmers use digital agriculture technologies due to the rising food demand brought in by the expanding population.

Global Digital Agriculture Overview

To improve crop yield and food production, various stakeholders, including farmers, researchers, and others who are involved in the agriculture system or a value chain, use new, cutting-edge, and innovative technologies that have been integrated into a single system or piece of software. This practice is known as digital agriculture. Given the rise in global food consumption, technological and digital innovations in the agriculture sector have been identified as workable answers to some of the problems being faced in the global food system. Different agriculture industry suppliers strive for better access to the local or worldwide supply chain as well as more excellent distribution. Additionally, buyers seek food traceability, improved price transparency, and quicker access to product information. To meet all market demands, digital platforms have appeared in the agriculture sector.

Global Digital Agriculture Market Trends

Growth Driver

Technological Advancements in Agriculture Sector

Every industry, including agriculture, is undergoing a digital revolution. Demand for higher-quality food, rapid population expansion, climate change, water shortages, pollution, dwindling biodiversity, and wealth-driven higher-value nutrition are all concerns that digital agriculture addresses. Additionally, digital agriculture assists in handling distribution and logistics as well as other tasks like purchasing seeds and giving cash loans to farmers. The development of the digital era is pushing people everywhere to adopt new work practices. The usage of mobile phones for digital farming hastens this trend.

Growing Need for High Productivity and Better Crop Health

Farmers are under constant pressure to increase food and animal feed production while reducing pesticide usage. In addition, it is crucial to improve environmental land and water management while using less energy and labor. In order to feed the rapidly expanding population, it is getting more and harder, placing more pressure on agricultural productivity. Through the effective use of time and resources, agriculture may become more productive, reliable, and efficient. This provides substantial advantages for farmers in addition to wider social advantages elsewhere in the world. Additionally, it enables firms to share information beyond traditional industry borders, creating new, disruptive potential. The development of the digital era is pushing people everywhere to adopt new work practices.

Restraints

Lack of Technical Knowledge

Information and technology-based farm management systems find, analyses, and control the variability in fields by putting crop production techniques into action at the right location, time, and in the right way. This enables them to achieve the maximum profitability, sustainability, and preservation of land resources. Only a small minority of farmers have adopted any kind of precision agriculture (PA) technological system strategy to reorganize the entire agricultural system toward low-input, high-efficiency, and sustainable agriculture, despite substantial study.

Global Digital Agriculture Market – By Component Type

Based on component type, the global digital agriculture market has been divided into three segments, i.e., hardware, software, and services. The hardware segment is sub-divided into displays, steering and guiding systems, GPS/GNSS devices, irrigation controls, and drones/UAVs. The hardware segment accounted for the largest market share as companies are continually looking for new methods to bring innovative products and services to consumers. Some of the companies that operate in the digital agriculture market also sell farming robots.

Global Digital Agriculture Market – By Application

Based on application, digital agriculture market has been segmented into field mapping, crop scouting, weather tracking, drone analytics, financial management, farm inventory management, precision farming, livestock monitoring, greenhouse farming, and others. The greenhouse farming segment accounted for the largest market share due to its capacity to grow a variety of crops outside of its native habitat and people utilize. Greenhouse farming has variety of crops, the most common of which being tomatoes, cucumbers, peppers, and melons. Grapes, cherries, Japanese persimmons, figs, loquats, lemons, and mangoes, as well as a variety of flowers, are all grown in greenhouses.

Global Digital Agriculture Market – By Region

Based on region, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa, wherein North America region accounted for the largest share in 2021 owing to consumers increasing preference toward digital technologies for agriculture. Advanced economy coupled with the early adoption of the latest technologies have resulted in growth of digital agriculture in this region. The area is a pioneer in implementing new technology. The region's market has a high revenue due to factors including expanding government efforts that boost the implementation of modern agriculture technology and established infrastructure.

Impact of COVID-19 on the India Global Digital Agriculture Market

Numerous enterprises and human lives were affected after the fatal disease COVID-19 broke out in 2020. The sudden adoption of the lockdown in the many countries affected several industries, causing the unanticipated closure of their firms and the collapse of the economies. The COVID-19 series of lockdowns that began in 2020 had a negative impact on several industries, including the digital agriculture. The market for digital agriculture has been severely disrupted by the recent coronavirus outbreak. As a result of the COVID-19 pandemic, the digital agriculture market saw a modest drop in 2020 as equipment shortages and mobility limitations forced supply chains to break down.

The impact of COVID-19 resulted in significant and widespread increase in global food insecurity, impacting vulnerable households in virtually every nation, and the effects are anticipated to last through 2022. The digital agriculture supply chain has been disrupted by COVID-19, and businesses are experimenting with fresh methods of electronic communication which help in growth and farmers. On the plus side, corporations have started to place more focus on wireless platforms in the post-COVID-19 situation to give real-time decision making in yield monitoring, crop health monitoring, field mapping, irrigation scheduling, and harvesting management.

Competitive Landscape

The key players operating in the global digital agriculture market such as Agrellus, Inc., Agri Marketplace, Agrofy, Agrostar, COFCO International, Crofarm Agriproducts Pvt. Ltd., DeHaat, Eden Farm, Farmcrowdy, Kaset Thai Hitech Co., Ltd., Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.), Tanihub, WayCool Foods and Products Pvt Ltd.and among others, are developing end-use products by collaborating with various companies offering innovative and advanced technologies.

Recent Developments

In April 2021, the Union Ministry of Agriculture and Microsoft India have signed a Memorandum of Understanding (MoU) for a pilot initiative to promote digital agriculture in 100 communities across six states. Microsoft will launch a pilot project in 100 villages across ten districts in six states (UP, MP, Gujarat, Haryana, Rajasthan, and Andhra Pradesh) to build a farmer interface for smart and well-organized agriculture, including post-harvest management and distribution.

In February 2021, IBM and Solinftec collaborated to provide precision agricultural solutions throughout the world. IBM's unrivaled climate understanding, combined with Solinftec’s artificial intelligence and advanced algorithms, result in real-time decision-making solutions that improve operation efficiency, input utilization, and agricultural compliance, resulting in lower environmental impact.

Scope of Report:

Attribute	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Forecast – 2022 – 2028
Facts Covered	Revenue in USD Million
Market Coverage	North America, Europe, Asia-Pacific, Latin America, and Africa
Product/Service Segmentation	By component type, by application, by deployment, and by region
Key Players	The key players operating in the global digital agriculture market are et are Agrellus, Inc., Agri Marketplace, Agrofy, Agrostar, COFCO International, Crofarm Agriproducts Pvt. Ltd., DeHaat, Eden Farm, Farmcrowdy, Kaset Thai Hitech Co., Ltd., Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.), Tanihub, WayCool Foods and Products Pvt Ltd, and other prominent players

By Component Type

Hardware
Software
Devices

By Application

Field Mapping
Livestock Monitoring
Greenhouse Farming
Crop Scouting
Weather Tracking
Drone Analytics
Financial Management
Farm Inventory Management
Others

By Deployment

Cloud
On-Premise
Hybrid

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

Research Framework
1. Research Objective
2. Product Overview
3. Market Segmentation
Research Methodology
1. Qualitative Research
  1. Primary & Secondary Research
2. Quantitative Research
3. Market Breakdown & Data Triangulation
  1. Secondary Research
  2. Primary Research
4. Breakdown of Primary Research Respondents, By Region
5. Assumption & Limitation
Executive Summary
Global Digital Agriculture Market Insights
1. Industry Value Chain Analysis
2. DROC Analysis
  1. Growth Drivers
  2. Restraints
  3. Opportunities
  4. Challenges
3. Technological Advancement/Recent Development
4. Regulatory Framework
5. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of New Entrants
  4. Threat of Substitutes
  5. Intensity of Rivalry
Global Digital Agriculture Market Overview
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
    1. Hardware
      1. Displays
      2. Drone/UAVs
      3. GPS/GNSS Devices
      4. Guidance and Steering Systems
      5. Irrigation Controllers
      6. Others
    2. Software
    3. Services
  2. By Application
    1. Field Mapping
    2. Crop Scouting
    3. Weather Tracking
    4. Drone Analytics
    5. Financial Management
    6. Farm Inventory Management
    7. Others
  3. By Deployment
    1. Cloud
    2. On-Premise
    3. Hybrid
  4. By Region
    1. North America
    2. Europe
    3. Asia-Pacific
    4. Latin America
    5. Middle East and Africa
North America Digital Agriculture Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Application
  3. By Deployment
  4. By Country
    1. United States
    2. Canada
Europe Digital Agriculture Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Application
  3. By Deployment
  4. By Country
    1. Germany
    2. United Kingdom
    3. Italy
    4. France
    5. Spain
    6. Rest of Europe
Asia-Pacific Digital Agriculture Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Application
  3. By Deployment
  4. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of Asia-Pacific
Latin America Digital Agriculture Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Application
  3. By Deployment
  4. By Country
    1. Brazil
    2. Mexico
    3. Rest of Latin America
Middle East and Middle East and Africa Digital Agriculture Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Application
  3. By Deployment
  4. By Country
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Rest of Middle East and Africa
Competitive Landscape
1. List of Key Players and Their Offerings
2. Market Share Analysis, 2021
3. Competitive Benchmarking, By Operating Parameters
4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
Impact of Covid-19 on Global Digital Agriculture Market
Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
1. Agrellus, Inc.
2. Agri Marketplace
3. Agrofy
4. Agrostar
5. COFCO International
6. Crofarm Agriproducts Pvt. Ltd.
7. DeHaat
8. Eden Farm
9. Farmcrowdy
10. Kaset Thai Hitech Co., Ltd.
11. Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.)
12. Tanihub
13. WayCool Foods and Products Pvt Ltd.
14. Enam (National Agriculture Market)
Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1 Global Digital Agriculture Market Segmentation

Figure 2 Global Digital Agriculture Market Value Chain Analysis

Figure 3 Company Market Share Analysis, 2021

Figure 4 Global Digital Agriculture Market Size, By Type (USD Million), 2018-2028

Figure 5 Global Digital Agriculture Market Share, By Application, 2018-2028

Figure 6 Global Digital Agriculture Market Share, By Deployment, 2018-2028

Figure 7 Global Digital Agriculture Market Share, By Region, By Value, 2018-2028

Figure 8 North America Digital Agriculture Market Size, By Type (USD Million), 2018-2028

Figure 9 North America Digital Agriculture Market Share, By Application, 2018-2028

Figure 10 North America Digital Agriculture Market Share, By Deployment, 2018-2028

Figure 11 North America Digital Agriculture Market Share, By Country, By Value, 2018-2028

Figure 12 Europe Digital Agriculture Market Size, By Type (USD Million), 2018-2028

Figure 13 Europe Digital Agriculture Market Share, By Application, 2018-2028

Figure 14 Europe Digital Agriculture Market Share, By Deployment, 2018-2028

Figure 15 Europe Digital Agriculture Market Share, By Country, By Value, 2018-2028

Figure 16 Asia-Pacific Digital Agriculture Market Size, By Type (USD Million), 2018-2028

Figure 17 Asia-Pacific Digital Agriculture Market Share, By Application, 2018-2028

Figure 18 Asia-Pacific Digital Agriculture Market Share, By Deployment, 2018-2028

Figure 19 Asia-Pacific Digital Agriculture Market Share, By Country, By Value, 2018-2028

Figure 20 Latin America Digital Agriculture Market Size, By Type (USD Million), 2018-2028

Figure 21 Latin America Digital Agriculture Market Share, By Application, 2018-2028

Figure 22 Latin America Digital Agriculture Market Share, By Deployment, 2018-2028

Figure 23 Latin America Digital Agriculture Market Share, By Country, By Value, 2018-2028

Figure 24 Middle East and Africa Digital Agriculture Market Size, By Type (USD Million), 2018-2028

Figure 25 Middle East and Africa Digital Agriculture Market Share, By Application, 2018-2028

Figure 26 Middle East and Africa Digital Agriculture Market Share, By Deployment, 2018-2028

Figure 27 Middle East and Africa Digital Agriculture Market Share, By Country, By Value, 2018-2028

List of Tables

Table 1 Global Digital Agriculture Market Size, By Type, By Value, 2018-2028

Table 2 Global Digital Agriculture Market Size, By Application, By Value, 2018-2028

Table 3 Global Digital Agriculture Market Size, By Deployment, By Value, 2018-2028

Table 4 Global Digital Agriculture Market Size, By Region, By Value, 2018-2028

Table 5 North America Digital Agriculture Market Size, By Type, By Value, 2018-2028

Table 6 North America Digital Agriculture Market Size, By Application, By Value, 2018-2028

Table 7 North America Digital Agriculture Market Size, By Deployment, By Value, 2018-2028

Table 8 North America Digital Agriculture Market Size, By Country, By Value, 2018-2028

Table 9 Europe Digital Agriculture Market Size, By Type, By Value, 2018-2028

Table 10 Europe Digital Agriculture Market Size, By Application, By Value, 2018-2028

Table 11 Europe Digital Agriculture Market Size, By Deployment, By Value, 2018-2028

Table 12 Europe Digital Agriculture Market Size, By Country, By Value, 2018-2028

Table 13 Asia-Pacific Digital Agriculture Market Size, By Type, By Value, 2018-2028

Table 14 Asia-Pacific Digital Agriculture Market Size, By Application, By Value, 2018-2028

Table 15 Asia-Pacific Digital Agriculture Market Size, By Deployment, By Value, 2018-2028

Table 16 Asia-Pacific Digital Agriculture Market Size, By Country, By Value, 2018-2028

Table 17 Latin America Digital Agriculture Market Size, By Type, By Value, 2018-2028

Table 18 Latin America Digital Agriculture Market Size, By Application, By Value, 2018-2028

Table 19 Latin America Digital Agriculture Market Size, By Deployment, By Value, 2018-2028

Table 20 Latin America Digital Agriculture Market Size, By Country, By Value, 2018-2028

Table 21 Middle East and Africa Digital Agriculture Market Size, By Type, By Value, 2018-2028

Table 22 Middle East and Africa Digital Agriculture Market Size, By Application, By Value, 2018-2028

Table 23 Middle East and Africa Digital Agriculture Market Size, By Deployment, By Value, 2018-2028

Table 24 Middle East and Africa Digital Agriculture Market Size, By Country, By Value, 2018-2028

Table 25 Agrellus, Inc. Company Overview

Table 26 Agrellus, Inc. Financial Overview

Table 27 Agri Marketplace Company Overview

Table 28 Agri Marketplace Financial Overview

Table 29 Agrofy Company Overview

Table 30 Agrofy Financial Overview

Table 31 Agrostar Company Overview

Table 32 Agrostar Financial Overview

Table 33 COFCO International Company Overview

Table 34 COFCO International Financial Overview

Table 35 Crofarm Agriproducts Pvt. Ltd. Company Overview

Table 36 Crofarm Agriproducts Pvt. Ltd. Financial Overview

Table 37 DeHaat Company Overview

Table 38 DeHaat Financial Overview

Table 39 Eden Farm Company Overview

Table 40 Eden Farm Financial Overview

Table 41 Farmcrowdy Company Overview

Table 42 Farmcrowdy Financial Overview

Table 43 Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.) Company Overview

Table 44 Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.) Financial Overview

Table 45 Tanihub Company Overview

Table 46 Tanihub Financial Overview

Table 47 WayCool Foods and Products Pvt Ltd. Company Overview

Table 48 WayCool Foods and Products Pvt Ltd. Financial Overview

Table 49 Enam (National Agriculture Market) Company Overview

Table 50 Enam (National Agriculture Market) Financial Overview

Market Segmentation

By Component Type

Hardware
Software
Devices

By Application

Field Mapping
Livestock Monitoring
Greenhouse Farming
Crop Scouting
Weather Tracking
Drone Analytics
Financial Management
Farm Inventory Management
Others

By Deployment

Cloud
On-Premise
Hybrid

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

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Frequently Asked Questions (FAQs):

1. Which region is growing at a highest rate in the global digital agriculture market?

Ans: North America region is growing at a highest growth rate in the global digital agriculture market.

2. Who are the key players in the global digital agriculture market?

Ans: The key players operating in the global digital agriculture market are Agrellus, Inc., Agri Marketplace, Agrofy, Agrostar, COFCO International, Crofarm Agriproducts Pvt. Ltd., DeHaat, Eden Farm, Farmcrowdy, Kaset Thai Hitech Co., Ltd., Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.), Tanihub, WayCool Foods and Products Pvt Ltd, and other prominent players.

3. Which application segment accounted for the largest share in the global digital agriculture market?

Ans: The greenhouse farming segment accounted for the largest share in the global digital agriculture market.

4. What are the major factors driving the growth of the global digital agriculture market?

Ans: The growing need for monitoring devices that measure, distribute, record, and display a variety of biometric parameters including blood pressure, temperature, and oxygen saturation level is one of the main reasons fueling the growth of the patient monitoring devices market.

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