Digital Agriculture Market Overview
Over the projected period, the global digital agriculture market is predicted to register a CAGR of ~11.2% during the forecast period, 2021 to 2027. Digital agriculture is defined as the integration of novel, sophisticated, and innovative technologies into a single system or software to allow multiple players in the agricultural system or value chains, such as farmers, researchers, and others, to improve crop yield and food production.
As there will be a need to improve food production and harvests, digital agriculture will become increasingly important. Food output must be boosted by 70% over what it is now. By 2050, annual cereal production should be over 3 billion tonnes, with annual meat production around 470 million tonnes. According to an FAO study, major technology investments, intensification, and a significant increase in cropping intensity will account for 90% of the gain in food and agricultural output.
The corporate and public sectors' responsibilities will continue to rise as they face increasing pressure to meet global demand. Natural resources must be preserved and secured, which cannot be accomplished without the use of artificial intelligence and the internet of things. The market is predicted to reach USD 15 billion by 2021, according to the United Nations Global Impact Organization.
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Digital Agriculture Market Segmentation
A platform for Digital Agriculture With strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a holistic assessment of market conditions in the future term, this market research study keeps a close eye on major rivals. It is a comprehensive report that examines fundamental and secondary drivers, market share, leading sectors, and regional analysis. The paper also examines significant players, major collaborations, mergers and acquisitions, as well as current innovation and corporate strategies.
Digital Agriculture Market Regional Classification
North America, Europe, Asia-Pacific, the Middle East and Africa, and South America were the regions studied for the global digital agricultural market. North America accounted for the greatest share of the market in 2019, and it is predicted to develop rapidly throughout the study period. However, the agricultural sector in the Asia-Pacific region is booming. The region's leading economies are technologically advanced and provide significant investment and revenue opportunities. During the research period, India is expected to lead the APAC region in terms of digital agricultural adoption. Precision agricultural techniques are being used by farmers in southern India's Andhra Pradesh, Telangana, and Tamil Nadu to boost crop yields.
As the digital agricultural business matures, this sector is seeing a significant rise in investment. Multiple unicorns exist around the world and receive massive amounts of financing, highlighting the importance of tech-driven agriculture. As a result, as enterprises grow beyond their native markets, digital agriculture marketplaces are likely to compete for global dominance in the coming year.
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TABLE OF CONTENTS
1. EXECUTIVE SUMMARY
1.1. Market Attractiveness Analysis
1.1.1. Global Digital AgricultureMarket, By Application
1.1.2. Global Digital Agriculture Market, By Component
1.1.3. Global Digital Agriculture Market, By Deployment
1.1.4. Global Digital AgricultureMarket, By Region
2. Digital Agriculture Market INTRODUCTION
2.2. Scope Of The Study
2.3. Market Structure
3. RESEARCH METHODOLOGY
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List Of Assumptions
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From 2019 through 2027, this study forecasts revenue growth at the global, regional, and country levels, as well as provide an outline of recent changes in each sub-sector. The global digital agriculture market has been divided by MRFR based on component, application, deployment, and geography for this study.
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