Digital Agriculture Market Trends

  • Report ID: 3786
  • Published Date: Aug 23, 2024
  • Report Format: PDF, PPT

Digital Agriculture Market Trends

Growth Drivers

  • Increasing Investments in Agribusiness Marketplace
  • Increasing Government Initiatives to Combat Global Hunger

Challenges

  • Lack of Digital Agricultural Knowledge amongst Farmers
  • Disruption in the Agriculture Supply Chain

Digital Agriculture Market: Key Insights

Research and Development Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Base Year

2024

Forecast Year

2025-2037

CAGR

13.5%

Base Year Market Size (2024)

USD 27.1 billion

Forecast Year Market Size (2037)

USD 140.58 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Nilanjana Ray


  • Report ID: 3786
  • Published Date: Aug 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of digital agriculture is assessed at USD 30.21 billion.

Digital Agriculture Market size was valued at USD 27.1 billion in 2024 and is expected to reach USD 140.58 billion by 2037, registering around 13.5% CAGR during the forecast period i.e., between 2025-2037.

Asia Pacific industry is anticipated to hold largest revenue share by 2037, due to increasing penetration of digitalization in the agriculture industry, along with growing government focus on improving agriculture.

The major players in the market are Agrellus, Inc., AGCO Corporation, Trimble, Inc., Hummingbird Technologies, Gamaya SA, Conservis LLC, Raven Industries, Inc., and others.
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