Global Digital farming Market Insights, Opportunity Analysis, Industry Shares And Forecast 2019-2026
Digital Farming refersto tools that collect and analyse data or information by applying newtechnologies such as Artificial Intelligence, Internet of Thing, data science,advance sensors, automation and digital communication. By using thistechnology, farmer can access better insights in order to reduce waste, takeappropriate decision, and drive up yield and wealth. Digital farming effectentire value chain of agriculture and food, before and after production. It isalso applying precision location method to illuminate, predict and affect gamutof cultivation problems across the farm. By using digital farming, farmer canable to use water and fertilizer effectively. It also helps to improveproductivity even in dry area where limited water access. Digital farming technology isexpected to bring changes to sustainable agriculture in future.
Increasing number of telematics, which includes GlobalNavigation Satellite System (GNSS) in farming is driving the growth of digital farming market across the globe.Agriculture equipment manufactures are widely adopting telematics to increasefarm efficiency, productivity, reduce agriculture operational cost, andmaximize operational margin by boosting revenue. Moreover, increasing labourcost due the shortage of skilled labour and increasing pressure on foodsupplier due to increasing global population are further increase the demand ofdigital farming. Advantages like farmer can make data-based decision bygenerating detailed insight to enhance yield and minimize expenses and chance ofcrop failure which also boost the market growth of digitalfarming globally. However, low penetration rate of technologiesamong farmer and high investment on R&D are hampering the growth of digitalfarming.
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North America is expected tohold the largest market share in 2018 of digital farming market. The major factors that are expected to drive the market ofdigital farming in this region are presence of countries such as United Stateand Canada are consider as early adopters of new agriculture technology andadvance farming systems and equipment such as sensor, display devices and farmmanagement software. However, Asia-Pacific is expected to grow at the fastestrate during forecast period due to increasing population in this regionespecially in China and India which increases the demand of food in this regionand increasing penetration of advance agriculture solution are fuelling themarket growth of digital farming in this region
Various notable players in the Digital farming market include Trimble NavigationLtd., Solinftec, Netafim, Aglytix Inc., Bayer Crop science Limited, CropX Inc.,BASF SE, Vodafone Group PLC, Farmers Business Network (FBN), Yara Internationaland among others.
The Global Digital farming market has been segmentedon the basis of component, technology, application and Geography. Based oncomponent market is categorized into hardware, software and services. On thebasis of technology market is segmented into guidance technology, remotesensing, variable rate technology, and others. Based on the application marketis segmented into precision farming, live-stock monitoring, green housefarming, and others
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Key questions answered in this research report:
· Atwhat pace is the global Digital farming market growing? What will be a growthtrend in the future?
· Whatare the key drivers and restraints in the current market? What will be theimpact of drivers and restraints in the future?
· Whatare the regional revenue and forecast breakdowns? Which are the major regionalrevenue pockets for growth in the global Digital farming market?
· Whatare the various application areas and how they are poised to grow?
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