1h Free Analyst Time
The Digital Agriculture Market grew from USD 19.88 billion in 2023 to USD 21.85 billion in 2024. It is expected to continue growing at a CAGR of 10.43%, reaching USD 39.84 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Digital agriculture encompasses the integration of advanced technologies, such as IoT, AI, machine learning, and data analytics, in farming processes to optimize yield and sustainability while reducing costs and resource wastage. The rising necessity of digital agriculture stems from the need to address global food security challenges, climate change, and the increasing demand for efficient agricultural practices. It finds applications across precision farming, smart irrigation systems, drone-based crop monitoring, and predictive analytics for weather and soil conditions. The end-use scope includes traditional farmers, agribusinesses, and governments looking to modernize agricultural policy and ensure sustainable practices. Key factors influencing growth include technological advancements, increased investment in agritech startups, and supportive government initiatives aimed at fostering innovation. The expansion of internet penetration in rural areas enhances the adoption rate of digital farming solutions, making it a significant growth stimulant.
Emerging opportunities in the market include the development of autonomous farming equipment, blockchain applications for traceability, and the use of big data analytics for agronomic decisions. To capitalize on these opportunities, stakeholders must invest in R&D and form strategic partnerships to drive innovation and implementation at scale. However, challenges such as high initial costs, lack of digital literacy among farmers, and infrastructure constraints in developing regions can restrict market growth. Addressing these challenges involves providing affordable technology solutions, comprehensive training programs, and policy incentives for infrastructure development.
Innovation should focus on creating affordable IoT devices, expediting AI-based applications for real-time decision-making, and enhancing connectivity solutions for remote locations. Collaboration among technology providers, agricultural experts, and policymakers can spur an inclusive digital transformation of agriculture. The market is highly dynamic, with rapid technological advancements reshaping traditional agricultural practices. Companies that successfully navigate these changes through adaptive strategies, customer-centric solutions, and sustainable practices are poised to drive future growth in digital agriculture.
Understanding Market Dynamics in the Digital Agriculture Market
The Digital Agriculture Market is rapidly evolving, shaped by dynamic supply and demand trends. These insights provide companies with actionable intelligence to drive investments, develop strategies, and seize emerging opportunities. A comprehensive understanding of market dynamics also helps organizations mitigate political, geographical, technical, social, and economic risks while offering a clearer view of consumer behavior and its effects on manufacturing costs and purchasing decisions.- Market Drivers
- Rising demand for agricultural production owing to increasing population
- Increase approach of precision agriculture techniques to farming
- Focus on disease detection in plants to improve farming
- Market Restraints
- Reluctance of farmers to adopt technology
- Market Opportunities
- Advancement of digital technologies such as IoT, machine learning, and AI for agriculture
- Increase in availability of initiatives by the government to adopt digitalization in agriculture
- Market Challenges
- Growing concern regarding data management
Exploring Porter’s Five Forces for the Digital Agriculture Market
Porter’s Five Forces framework further strengthens the insights of the Digital Agriculture Market, delivering a clear and effective methodology for understanding the competitive landscape. This tool enables companies to evaluate their current competitive standing and explore strategic repositioning by assessing businesses’ power dynamics and market positioning. It is also instrumental in determining the profitability of new ventures, helping companies leverage their strengths, address weaknesses, and avoid potential pitfalls.Applying PESTLE Analysis to the Digital Agriculture Market
External macro-environmental factors deeply influence the performance of the Digital Agriculture Market, and the PESTLE analysis provides a comprehensive framework for understanding these influences. By examining Political, Economic, Social, Technological, Legal, and Environmental elements, this analysis offers organizations critical insights into potential opportunities and risks. It also helps businesses anticipate changes in regulations, consumer behavior, and economic trends, enabling them to make informed, forward-looking decisions.Analyzing Market Share in the Digital Agriculture Market
The Digital Agriculture Market share analysis evaluates vendor performance. This analysis provides a clear view of each vendor’s standing in the competitive landscape by comparing key metrics such as revenue, customer base, and other critical factors. Additionally, it highlights market concentration, fragmentation, and trends in consolidation, empowering vendors to make strategic decisions that enhance their market position.Evaluating Vendor Success with the FPNV Positioning Matrix in the Digital Agriculture Market
The Digital Agriculture Market FPNV Positioning Matrix is crucial in evaluating vendors based on business strategy and product satisfaction levels. By segmenting vendors into four quadrants - Forefront (F), Pathfinder (P), Niche (N), and Vital (V) - this matrix helps users make well-informed decisions that best align with their unique needs and objectives in the market.Strategic Recommendations for Success in the Digital Agriculture Market
The Digital Agriculture Market strategic analysis is essential for organizations aiming to strengthen their position in the global market. A comprehensive review of resources, capabilities, and performance helps businesses identify opportunities for improvement and growth. This approach empowers companies to navigate challenges in the increasingly competitive landscape, ensuring they capitalize on new opportunities and align with long-term success.Key Company Profiles
The report delves into recent significant developments in the Digital Agriculture Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, AGCO Corporation, AgGateway, Agreena ApS, AgriWebb Pty Ltd., AKVA group ASA, Arable Labs, Inc., BASF SE, Bayer AG, Ceres Imaging, Inc., Cisco Systems, Inc., CropX Technologies Ltd., Deere & Company, DeLaval by Tetra Laval Group, DTN, LLC, Epicor Software Corporation, Eurofins Scientific, Farmers Business Network, Inc., Farmers Edge Inc., Gamaya by Mahindra & Mahindra, Hexagon AB, International Business Machines Corporation, Microsoft Corporation, PrecisionHawk, Inc. by Field Group, Raven Industries, Inc. by CNH Industrial N.V., Small Robot Company, Syngenta Crop Protection AG, SZ DJI Technology Co., Ltd., Taranis Visual Ltd., TELUS, Trimble Inc., and Vodafone Group PLC.Market Segmentation & Coverage
This research report categorizes the Digital Agriculture Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Hardware
- Automation & Control Systems
- Sensing & Monitoring Device
- Service
- Software
- Hardware
- Deployment
- Cloud
- On-premises
- Application
- Crop Scouting
- Field Mapping
- Soil Monitoring
- Variable Rate Application
- Yield Monitoring
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report provides a detailed overview of the market, exploring several key areas:
- Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market.
- Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development.
- Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape.
- Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players.
- Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current size of the market, and how is it expected to grow?
- Which products, segments, and regions present the most attractive investment opportunities?
- What are the prevailing technology trends and regulatory factors influencing the market?
- How do top vendors rank regarding market share and competitive positioning?
- What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Digital Agriculture Market, by Type
7. Digital Agriculture Market, by Deployment
8. Digital Agriculture Market, by Application
9. Americas Digital Agriculture Market
10. Asia-Pacific Digital Agriculture Market
11. Europe, Middle East & Africa Digital Agriculture Market
12. Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
The leading players in the Digital Agriculture Market, which are profiled in this report, include:- Accenture PLC
- AGCO Corporation
- AgGateway
- Agreena ApS
- AgriWebb Pty Ltd.
- AKVA group ASA
- Arable Labs, Inc.
- BASF SE
- Bayer AG
- Ceres Imaging, Inc.
- Cisco Systems, Inc.
- CropX Technologies Ltd.
- Deere & Company
- DeLaval by Tetra Laval Group
- DTN, LLC
- Epicor Software Corporation
- Eurofins Scientific
- Farmers Business Network, Inc.
- Farmers Edge Inc.
- Gamaya by Mahindra & Mahindra
- Hexagon AB
- International Business Machines Corporation
- Microsoft Corporation
- PrecisionHawk, Inc. by Field Group
- Raven Industries, Inc. by CNH Industrial N.V.
- Small Robot Company
- Syngenta Crop Protection AG
- SZ DJI Technology Co., Ltd.
- Taranis Visual Ltd.
- TELUS
- Trimble Inc.
- Vodafone Group PLC
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | October 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 21.85 Billion |
| Forecasted Market Value ( USD | $ 39.84 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 33 |
