Reports And Data

The market growth is driven by a decline in arable land, a rapidly expanding population base across the globe, and an associated spike in food demand.

NEW YORK CITY, NEW YORK, USA, December 1, 2021 /EINPresswire.com/ -- Global research report called Digital Farming Market was recently published by Reports and Data. to provide guidance for the business. The new research study on Digital Farming market sheds light on the current scope as well as on the upcoming opportunities in the future along with forecast for market size and market share. To understand the structure of global trading, the report also gives statistical data on local consumption and global consumption. The report also focuses on global major leading industry players of Digital Farming market providing information such as company profiles, product picture and specification, price, capacity, cost, production, revenue and contact information.

The digital farming market size is forecast to exceed USD 13.41 billion by 2027 in terms of remuneration, from USD 4.53 billion in 2019, delivering a CAGR of around 14.5% through the forecast period. The market growth is driven by a decline in arable land, a rapidly expanding population base across the globe, and an associated spike in food demand. Estimates suggest that the global population will increase by 40% and reach 9.6 billion by the end of 2050. To cater to the growing food requirements, the overall food production needs to be doubled in the coming years, as the current production rate and distribution method wouldn’t be sufficient to feed the expanding population base. This is led to a paradigm shift towards the adoption of advanced technology at various levels of farming for optimum crop production.

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Market Overview:

Agriculture faces a number of challenges in the twenty-first century, including the need to produce more food to feed a growing population with a shrinking rural labour force, more feedstocks for a potentially huge bioenergy market, contributing to overall development in many agriculture-dependent developing countries, adopting more efficient and sustainable production methods, and adapting to changing environmental conditions. The world's population is expected to grow by more than a third, or 2.3 billion people, between 2009 and 2050. Nearly all of this expansion is predicted to come from poorer countries.

At the same time, by 2050, per capita wages are predicted to be several times higher than they are now. Analysts agree that recent trends of developing economies rising at a higher rate than developed economies will continue in the future. Agriculture has an impact on many areas of the economy, both locally and globally. Agriculture business trends will influence the future of many other industries, including farmers, real estate, supermarkets, and restaurants. These factors will have an impact on food production and distribution as well.

Growing demand for food across the globe has increased the need to better manage and cultivate important crops. Rising application of satellite imaging, drone technology, and precision agriculture has further enhanced agricultural practices, in turn, increasing profits and revenue. Increasing incidence of unpredictable weather and extreme climate has further boosted need for better water management practices and technology. Further, integration of IoT and data analytics have further accelerated the adoption of smart farming technology and is expected to contribute significantly to the revenue growth of the market.

Top Key Players:

Key players operating in the global Digital Farming market are Vodafone Group PLC, Trimble Inc., Salt Mobile SA, Accenture, Deere & Company, IBM, Epicor Software Corporation, Hexagon, Monsanto Company, Bayer Cropscience Limited, Syngenta, AgGateway, Aglytix Inc., CropX Inc., Farmers Business Network (FBN), BASF SE, and DigitalGlobe.

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The Digital Farming market has been growing steadily over the past decade and CAGR is expected to improve over the forecast period. It is also likely to be one of the industries influencing global revenue generation. Rapidly growing demand, an abundance of raw materials, population growth, financial stability, and product awareness are some of the factors that make progress directly and indirectly in the market.

Market Segmentation:

By Component: (Revenue, USD Million; 2017–2027)
• Hardware
• Software
• Others
By Application: (Revenue, USD Million; 2017–2027)
• Precision Farming
• Live Stock Monitoring
• Green House Farming
• Others

Regional analysis covers:
• North America (US, Canada, Europe)
• Europe (Germany, UK, Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa)

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Benefits of Purchasing Global Digital Farming Market Report:

• Inimitable Expertise: Analysts will provide deep insights into the reports.
• Analyst Support: Get your query resolved from our team before and after purchasing the report.
• Customer’s Satisfaction: Our team will assist with all your research needs and customizes the report.
• Assured Quality: We focus on the quality and accuracy of the report.

The study throws light on the Digital Farming market mainly focusing on the growth factors and even the restraining factors. The restraining factors are also provided with the best solutions which also prove to be a counteract to the drawback and help increase the market demand. Applications, types, technology and many other segmentations are studied to give a depth of knowledge for further market investment. Key driving forces for Digital Farming market is explained to help give an idea for a detailed analysis of this market.

The report also implements primary and secondary research techniques for gathering the most crucial pieces of professional information, and applies a number of industry-best techniques upon the data for projecting the future state of the global Digital Farming market. Based on current market development, the report includes an analysis of how activities such as mergers and shapes the market’s future.

Market Report includes major TOC points:
• Digital Farming market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Digital Farming market Forecast

Conclusively, all aspects of the Digital Farming market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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