Digitization of farming is expected to help feed the growing population. Global population is expected to increase by about 40% and reach 9.6 billion by 2050. Therefore, the overall food production needs to double to meet the rising demand for food. The current production rate, process, and distribution method would not be sufficient to feed the growing population; thus, adoption of new and advanced technology, at various levels of farming, is expected to become vital to meet the growing demand.
MARKET DYNAMICS
Rising population and increasing demand for food are prominent factors driving the digital farming market. Moreover, the growing demand to efficiently deal with pests, weeds, and other diseases is encouraging farmers to digitize their farm. In developing regions, cheaper internet data and strong penetration of smart devices (especially smartphones) are driving the digital farming market. Active participation of governments in digitizing farms through investment is also driving the digital farm market. For instance, in October 2020, the Government of Karnataka (a state in India) signed a memorandum of understanding (MoU) with Microsoft Corporation to empower small farm holders with technology oriented solutions to improve productivity.
MARKET SCOPE
The "Global Digital Farming Market Analysis to 2028"? is a specialized and in-depth study of the Digital farming market with a special focus on the global market trend analysis. The report aims to provide an overview of Digital farming market with detailed market segmentation by component, application. The global Digital farming market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Digital farming market player and offers key trends and opportunities in the Digital farming market.
MARKET SEGMENTATION
The global Digital Farming market is segmented on the basis of component, application. On the basis of component, market is segmented as hardware, software, others. On the basis of application, market is segmented as precision farming, live stock monitoring, green house farming, others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Digital farming market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Digital farming market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Digital farming market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Digital farming market in these regions.
MARKET PLAYERS
The reports cover key developments in the Digital farming market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Digital farming market are anticipated to lucrative growth opportunities in the future with the rising demand for Digital farming market. Below mentioned is the list of few companies engaged in the Digital farming market.
The report also includes the profiles of key Digital farming market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Vodafone Group PLC
- Trimble Inc
- Salt Mobile SA,
- Accenture
- Deere and Company
- IBM
- Epicor Software Corporation
- Hexagon
- Monsanto Company
- Aglytix Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.