The Digital Agriculture Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital Agriculture Global Market Report 2024, The digital agriculture market size has grown strongly in recent years. It will grow from $13.98 billion in 2023 to $15.32 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to adoption of precision agriculture, growing population and food demand, climate change concerns.
The digital agriculture market size is expected to see rapid growth in the next few years. It will grow to $23.44 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to 5G connectivity in rural areas, government initiatives and subsidies, global connectivity and access to information. Major trends in the forecast period include digital twins and simulation models, advancements in sensor technologies, precision farming technologies, AI and machine learning in crop management, farm management software platforms.
The rise in the population is expected to propel the growth of the digital agriculture market going forward. The rise in population refers to the sum of the difference between births and fewer deaths; and the difference between immigrants and fewer emigrants, either all over the globe or concerning the country, territory, or geographic area. Artificial intelligence and the Internet of Things have the potential to revolutionize agriculture intelligence by increasing yields and avoiding or reducing food loss. For instance, in December 2023, according to The United Nations (UN), US-based, an intergovernmental organization that aims to maintain international peace and security, The global population has been on a continuous rise, with an anticipated increase of nearly 2 billion individuals in the next 30 years, from the current 8 billion to 9.7 billion by 2050. This growth is accompanied by demographic shifts such as an aging population and varying growth rates across different regions. . Therefore, the rise in the population is driving the digital agriculture market growth.
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The digital agriculture market covered in this report is segmented –
1) By Type: Crop Monitoring, Artificial Intelligence, Precision Farming
2) By Company Type: Tier 1-55%, Tier 2-20%, Tier 3-25%
3) By Deployment: Cloud, On-Premise
4) By Applications: Field Mapping, Crop Scouting, Weather Tracking, Drone Analytics, Financial Management, Farm Inventory Management, Other Applications
Major companies in the digital agriculture market are prioritizing product launches, such as commercial digital tools for detecting harmful nematodes through satellite images. A commercial digital tool is software, or an application developed and marketed for business or monetary purposes, providing specific functionalities or solutions to meet commercial needs. For instance, in September 2022, Syngenta, a Switzerland-based global agribusiness company that offers crop protection, seeds, and seed treatments, launched Nema Digital—the world’s first commercial digital tool for detecting harmful nematodes through satellite images. It features satellite image analysis to identify nematode infestations, enabling quick field management adjustments and integration with the Cropwise platform for streamlined reporting and user-friendly decision-making. In the digital agriculture market, Nema Digital enhances crop quality and yield, empowers farmers with informed crop management decisions, and contributes to sustainability by minimizing losses and combating crop-destroying pests.
The digital agriculture market report table of contents includes:
1. Executive Summary
2. Digital Agriculture Market Characteristics
3. Digital Agriculture Market Trends And Strategies
4. Digital Agriculture Market – Macro Economic Scenario
….
32. Global Digital Agriculture Market Competitive Benchmarking
33. Global Digital Agriculture Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Digital Agriculture Market
35. Digital Agriculture Market Future Outlook and Potential Analysis
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