Digital Agriculture Market to reach USD 34.54 billion by 2031,Trends

Digital farming software is the programmed tools which are developed to optimize and manage farm operations and production activities. The software helps to automate various farm activities such as record management, data storage, monitoring and streamline production activities. Digital farming software maximize yield and revenue related to crops and others using data-driven insights.

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Data Bridge Market Research analyzes that the global digital agriculture market is expected to reach USD 34.54 billion by 2031, which is USD 15.89 billion in 2023, registering a CAGR of 10.20% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Farmers are using digital agriculture tools to track the progress of crops in real-time, such as sensors that record the soil condition and temperature when placed on the fields, computer applications such as climate field view, a tool that is programmed to create farming maps and yield maps, and other similar applications. The use of digital technology in agriculture aids in the dissemination of information from suppliers to workers and vice versa, as a result, it aids in the development of strategic partnerships between stakeholders by providing access to training, financial services, and legal services.

Global Digital Agriculture Market Dynamics

Opportunity

Data-Driven Decision-Making

The vast amount of data collected through digital agriculture tools provides opportunities for data analytics and insights. Companies can offer data analytics services to farmers, enabling them to make informed decisions regarding crop management, pest control, and resource allocation.

Drivers

Precision Farming Advancements

Precision agriculture technologies, such as GPS-guided tractors and drones, are driving the digital agriculture market. These technologies enable farmers to optimize resource use, increase crop yields, and reduce production costs, making them a compelling driver for industry growth.

Applications

Field Mapping

Crop Scouting

Weather Tracking

Drone Analytics

Financial Management

Farm Inventory Management

Others

Some of the major players operating in the digital agriculture market are:

DTN (U.S.)

Farmers Edge Inc. (Canada)

Taranis (U.S.)

Eurofins Scientific (Luxembourg)

AgriWebb (Australia)

Monsanto Company (U.S.)

Bayer AG (Germany)

Deere & Company. (U.S.)

Syngenta AG (Switzerland)

North America is expected to dominate the market due to the rise in the initiatives taken by the government for the adoption of modern agriculture technologies and developed infrastructure. Furthermore, the occurrence of major key players will further boost the growth of the digital agriculture market in the region during the forecast period.

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