The Digital Agriculture Global Market Report 2023 by The Business Research Company, provides digital agriculture market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Digital Agriculture Global Market Report 2023, the market size is expected to grow from$13.03 billion in 2022 to $14.44 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the digital agriculture is expected to grow to $21.77 billion in 2027 at a CAGR of 10.8%.
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 revolutionise agriculture intelligence by increasing yields and avoiding or reducing food loss.
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The digital agriculture market 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
The penetration of technology and electronic devices is a key trend gaining popularity in the digital agriculture market. Major companies operating in the digital agriculture sector are focused on the penetration of technology and electronic devices to sustain their position in the market. For instance, in October 2021, CNH Industrial, a UK-based company operating in digital agriculture, launched AGXTEND, an innovative platform in Brazil. Regardless of the size of the property or the amount of output, it improves productivity and operational efficiency. It offers a real-time soil sensing system that automatically modifies implemented working parameters to deliver uniform tillage performance when used together with electro-herbicide technology. AGXTENDTM is a pioneer in the advancement of precision farming and ISOBUS technologies.
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
5. COVID-19 Impact On Digital Agriculture Market
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26. Africa Digital Agriculture Market
27. Digital Agriculture Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Digital Agriculture Market
29. Digital Agriculture Market Future Outlook and Potential Analysis
30. Appendix
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