Major players in the digital agriculture market are Farmers Edge, IBM Corporation, Bayer AG, Deere & Company, HummingBird Technologies, AGCO Corporation, Gamaya SA, Trimble Navigation Ltd. , DTN, Syngenta AG, Eurofins Scientific SE, AgriWebb, BASF SE, Raven Industries Inc.
New York, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Agriculture Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06368523/?utm_source=GNW
, and Cisco Systems Inc.
The global digital agriculture market is expected to grow from $11.78 billion in 2021 to $13.14 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The digital agriculture market is expected to grow to $20.28 billion in 2026 at a CAGR of 11.5%.
The digital agriculture market consists of sales of digital agriculture products and services by entities (organizations, sole traders, and partnerships) that are used to enhance agriculture productivity and decrease production costs; prevent soil deterioration; reduce the use of chemicals in crop cultivation; and encourage efficient and effective water management. Digital agriculture refers to the application of innovative and advanced technologies that are integrated into a single system to help farmers and other stakeholders in the agriculture value chain boost food production.
The main types of digital agriculture are crop monitoring, artificial intelligence, and precision farming.Crop monitoring refers to the digital agriculture system that closely monitors crop growth and performance during developmental stages, which is an important part of agricultural management.
The various company types are tier 1–55%, tier 2–20%, and tier 3-25%.These are deployed on the cloud and on-premise.
These are used in applications such as field mapping, crop scouting, weather tracking, drone analytics, financial management, farm inventory management, and other applications.
North America was the largest region in the digital agriculture market in 2021. The regions covered in this digital agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The rise in the population is expected to propel the growth of the digital agriculture market going forward.The rise in population refers to the sum of the difference between births and fewer deaths; and the difference between immigrants and fewer emigrants, either all over the globe or concerning the country, territory, or geographic area.
Artificial intelligence and the Internet of Things have the potential to revolutionise agriculture intelligence by increasing yields and avoiding or reducing food loss.For instance, in 2021, according to "The World Bank," a US-based international financial institution that provides loans and grants to the governments of low and middle-income countries, the world population reached 7.87 billion, up from 7.76 billion in 2020. Therefore, the rise in the population is driving the digital agriculture market.
The penetration of technology and electronic devices is a key trend gaining popularity in the digital agriculture market.Major companies operating in the digital agriculture sector are focused on the penetration of technology and electronic devices to sustain their position in the market.
For instance, in October 2021, CNH Industrial, a UK-based company operating in digital agriculture, launched AGXTEND, an innovative platform in Brazil.Regardless of the size of the property or the amount of output, it improves productivity and operational efficiency.
It offers a real-time soil sensing system that automatically modifies implemented working parameters to deliver uniform tillage performance when used together with electro-herbicide technology. AGXTENDTM is a pioneer in the advancement of precision farming and ISOBUS technologies.
In August 2021, CropX, an Israel-based aggrotech ag-analytics company, acquired Dacom Farm Intelligence for an undisclosed amount.With this acquisition, CropX acquired a significant foothold within the European region.
Also, this acquisition doubles CropX’s staff and dramatically expands its service region and quantity of farms, adding more than 20,000 new farms across more than 50 nations. Dacom Farm Intelligence is a Netherlands-based company engaged in digital agriculture, providing advisory services, data-driven software, and sensor equipment to customers.
The countries covered in the digital agriculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The digital agriculture market research report is one of a series of new reports that provides digital agriculture market statistics, including digital agriculture industry global market size, regional shares, competitors with a digital agriculture market share, detailed digital agriculture market segments, market trends and opportunities, and any further data you may need to thrive in the digital agriculture industry. This digital agriculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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