Global digital farming market size valued at US$22.01B in 2022, with the market projected to grow from US$24.16B in 2023 to US$56.8B by 2030: Fortune Business Insights

September 7, 2023 (press release) –

The global digital farming market size was valued at USD 22.01 billion in 2022. The market is projected to grow from USD 24.16 billion in 2023 to USD 56.80 billion by 2030, exhibiting a CAGR of 13% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Digital Farming Market Size, Share & COVID-19 Impact Analysis, By Infrastructure (Sensing & Monitoring, Communication Technology, Cloud & Data Processing, Telematics/Positioning, and End-use Components), By Product (Agricultural Equipment and Drones/Robots/Unmanned Aerial Vehicles), By Technology (AI/ML/NLP, IoT, Blockchain, and Big Data & Analytics), By Application (Yield Monitoring and Mapping, Smart Crop Monitoring, Soil & Fertilizer Management, Smart Irrigation Monitoring System, Weather Forecasting, and Others), and Regional Forecast, 2023-2030”.

Digital farming is gaining significant traction across the agriculture sector as the demand for food is rising due to the ever-expanding global population. Moreover, severe shortage of labor force is boosting the need for autonomous farming devices in different industries. Also, growing scarcity of water resources is augmenting the usage of advanced irrigation systems. These factors are expected to boost the digital farming market growth in the coming years.

Augmented Funding in Agricultural Technology to Surge Demand for Digital Farming Solutions After COVID-19

The COVID-19 pandemic dramatically influenced the agriculture industry owing to travel limitations, countrywide lockdown, and postponement of import and export activities. However, the pandemic also accelerated the sector’s adoption of digital technologies. Farm management systems, wireless devices, and smartphone applications gained immense popularity across the agriculture sector during the pandemic. These factors may boost the adoption of digital farming solutions post the COVID-19 pandemic.

Rising Use of Remote Sensing, Communication, and Telematics Technologies to Augment Market Progress

Remote sensing technologies can allow farmers to distinguish between various crop species, discover soil properties, detect the crop conditions, analyze the yield rate, and closely monitor weeds and crop diseases. The use of cloud and data analytics can enable growers to access information with respect to their farm from a remote location and help boost the production process at each stage. Moreover, improvements in sensing technologies, such as GPS, GIS, cameras, and sensors, may further fuel the market progress.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/digital-farming-market-106784

Competitive Landscape:

Key Companies to Focus on Developing Innovative Farming Machines to Boost their Market Positions

Some of the top companies operating in the market include Trimble, CNH Industrial N.V., Deere & Company, Topcon Positioning Systems, Kubota Corporation, Agjunction Inc., AGCO Corporation, and AgEagle Aerial Systems. These organizations are trying to expand their business operations by signing strategic partnership and collaboration deals with other market leaders.

Notable Industry Development:

• March 2023 – Tavant teamed up with Bayer, a global agriculture solution provider, to develop new AgriTech solutions to improve the production of crops and decrease environmental impact. These solutions are integrated with Internet of Things (IoT) analytics, Artificial Intelligence (AI), and Machine Learning (ML) technologies to help the companies achieve these objectives.

List of Key Players Mentioned in the Report:

• Deere & Company (U.S.)
• Kubota Corporation (Japan)
• CNH Industrial N.V. (U.K.)
• Hexagon AB (Sweden)
• Topcon Corporation (Japan)
• CLAAS KGaA mbH (Germany)
• Trimble (U.S.)
• AGCO Corporation (U.S.)
• AgEagle Aerial Systems (U.S.)
• Bayer AG (Germany)
• IBM Corporation (U.S.)

Further Report Findings

• North America is predicted to account for a dominant digital farming market share during the forecast period. One of the major factors contributing to the region’s dominance is the rising presence of leading manufacturers of agricultural equipment.
• The Asia Pacific market is anticipated to record the fastest CAGR in the global market during the forecast period. Digital farming is still said to be in its early stages in this region as governments are introducing various initiatives to support the development of digital agriculture and boost farm productivity across the region.
• The cloud & data processing segment is anticipated to record the fastest CAGR during the forecast period. Many companies are increasing their investments in developing a robust cloud infrastructure and becoming aware of the benefits of using cloud services.

Table of Segmentation

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