Digital Farming Market Will Multiply At An Impressive CAGR Of 8.7% By 2024 & Top Key Players Vodafone Group PLC, Trimble Navigation Ltd., Cisco Systems Inc., Salt Mobile SA, Accenture PLC, Deere & Co., IBM Corporation, Epicor Software Corporation, Hexagon

The global digital farming market is segmented into application such precision farming, livestock monitoring, green house farming and others. Among these segments, precision farming segment is expected to occupy the top position in digital farming market during the forecast period. Further, the precision market is expected to observe a growth rate of 1.3x over the forecast period.
Global digital farming market is expected to flourish at a CAGR of 8.7% over the forecast period. Moreover, the global digital farming market is anticipated to showcase noteworthy revenue by the end of 2024. Increasing utilization of digital farming in arable land is project to hamper the growth of digital farming market during the forecast period.

In 2016, North America captured the largest market share of digital farming market across the world. Further, North America region is projected to continue its dominance over the forecast period. This can be attributed to the rising demand for precision farming. Further, high personal disposable income of the population is anticipated to drive the growth of digital farming market in North America region.

Asia Pacific is forecasted to witness robust growth over the forecast period. Availability and increasing adoption of new method of cultivation is projected to witness the growth of the digital farming market in the Asia Pacific region.

Expansion of Digital Farming

Rising demand for new and advanced technology for the green farming across the globe is fuelling the growth of digital farming market. Moreover, additional benefits of digital farming such as livestock monitoring, precision farming, higher productivity and low investment are fuelling the adoption of digital farming globally.

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Government Regulations and Legislations

Government is encouraging the digital equipment for arable land for safety measures and taking active participation for investment purpose is driving the demand for digital farming market. Rising population and increasing demand for food are prominent factors driving the digital farming market. Moreover, the growing demand to efficiently deal with pests, weeds, and other diseases is encouraging farmers to digitize their farm.

In contrast, high cost of digital farming solutions resisting the adoption of digital farming among the farmers. This factor is a major challenge to the digital farming market and is likely to hamper the growth of global digital farming market.

The report titled “Digital Farming Market : Global Demand Analysis & Opportunity Outlook 2024 ” delivers detailed overview of the global digital farming market in terms of market segmentation by component, by application and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global digital farming market which includes company profiling of Vodafone Group PLC, Trimble Navigation Ltd., Cisco Systems Inc., Salt Mobile SA, Accenture PLC, Deere & Co., IBM Corporation, Epicor Software Corporation, Hexagone AB. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global digital farming market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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