iCrowdNewswire Jan 22, 2021 2:00 AM ET
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.
The latest report is one of the most sought-after market research documents covering the grave impact of the COVID-19 outbreak current situation on the Digital Farming market. The market intelligence report closely investigates the severe disruptions to this business sphere brought about by the pandemic. The coronavirus outbreak has significantly affected the Digital Farming business landscape, posing threats to the developmental scope of the key manufacturers and buyers involved in this sector. The report further provides expert speculations about the post-COVID-19 scenario of the market.
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Digital farming, which is also referred to as ‘Farming 4.0’, stems from developments in several different farming technologies, such as data capture, analysis, machine learning, connectivity, satellites, robotics, drones, automation, and sensors. Smart farming technology facilitates the efficient use of resources such as land, fertilizers, water, seeds, and others to improve the overall quality and quantity of farm produce.
The rise in demand for automobiles is expected to drive the market in the coming years. A significant challenge in the market’s growth is affected by the unstable price of the raw materials. Market demand is expected to be restrained by the rising demand for plastic-free products. Rising applications of Digital Farming in the coatings and paints are driving the market. The increasing usage of bio-based Digital Farming will also supplement Digital Farming market revenue share through 2027
North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
The global Digital Farming market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies’ current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global Digital Farming market are listed below:
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.
By Component: (Revenue, USD Million; 2017–2027)
By Application: (Revenue, USD Million; 2017–2027)
Live Stock Monitoring
Green House Farming
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Benefits of Global Digital Farming Market Report:
Comprehensive analysis of the changing market dynamics
A futuristic outlook on different factors influencing the market
An 8-year forecast of the market growth and expected revenue growth
Ease of understanding of the market, key segments, and their future growth
In-depth analysis of the competitive landscape to give an advantageous edge for the companies
Extensive insight into the market with in-depth analysis of the segmentation.
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Digital Farming Market Segmentation & Impact Analysis
Chapter 5. Digital Farming Market, By Type Insights & Trends
Chapter 6. Digital Farming Market, By Application Insights & Trends
Chapter 7. Digital Farming Market, By End Use Insights & Trends
Chapter 8. Digital Farming Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
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