The digital farming market size is forecast to exceed USD 13.41 billion by 2027
New York, NY -- (SBWIRE) -- 12/10/2020 -- 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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The report is a prototype of the Digital Farming market and focuses on the market's major regional segments. The market has been categorized into several key geographical segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. In this section of the report, the anticipated market share, market size, revenue contribution, sales network, distribution channels, and numerous other aspects of each region have been evaluated.
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
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By Component: (Revenue, USD Million; 2017–2027)
By Application: (Revenue, USD Million; 2017–2027)
Live Stock Monitoring
Green House Farming
Key Points of the Report:
Market Overview: This section of the report offers actionable insights into the global Digital Farming market, encompassing the historical and future timelines, key dynamics, latest market trends, growth trajectories, and the future market scope. It highlights the principal market segments, including the main product types, application gamut, end-user industries, and regional spectrum.
Executive Summary:In this section of the report, a comprehensive assessment of the competitive landscape of the market, regional mapping, CAGR, and various crucial parameters like key market drivers, restraints, trends, challenges, and growth prospects.
COVID-19 Impact Analysis: The report closely analyzes the impact of the COVID-19 pandemic on numerous aspects of the Digital Farming industry, such as production capacity, consumption rate, import-export status, demand & supply ratio, and the estimated revenue generation of each regional segment.
Competitive Landscape: This segment of the report systematically profiles the leading companies functioning in the Digital Farming industry. Moreover, the report emphasizes the global market value & volume, product portfolios, production capacity, and other vital aspects of these companies.
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