Growth Drivers and Revenue Insights in Digital Farming Market for 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, 25th October 2024 — The digital farming market has experienced robust growth in recent years, expanding from $14.06 billion in 2023 to $16.09 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to precision agriculture adoption, advancements in sensor technologies, big data analytics in agriculture, government initiatives and subsidies, improved connectivity in rural areas.

What Is The Estimated Market Size Of The Global Digital Farming Market And Its Annual Growth Rate?

The digital farming global market is projected to continue its strong growth, reaching $26.44 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to ai and machine learning integration, blockchain for supply chain transparency, 5g technology implementation, increasing demand for food, digital twin technology. Major trends in the forecast period include 5g technology implementation, robotic farming systems, digital twin technology, climate-smart agriculture solutions, collaboration between agtech companies.

Growth Driver Of The Digital Farming Market

The rising demand for food is expected to propel the growth of the digital farming market going forward. Food refers to a substance that is mostly made up of protein, carbohydrates, fat, and other nutrients and is used by an organism’s body to support development, vital functions, and the production of energy. Digital farming, or agriculture, is used by farmers to increase agricultural productivity by utilizing technical solutions for dependable farm management and monitoring. With the growing demand for food, digital farming methods are increasingly being adopted to sustain this demand.

Who Are The Leading Competitors In The Digital Farming Market Share?

Key players in the market include Armacell International Holding, BASF SE, Woodbridge Company Ltd., Dow Inc., Sekisui Chemical Co. Ltd., Recticel NV, UFP Technologies Inc., INOAC Corporation, Kaneka Corporation, Saudi Basic Industries Corporation, Sealed Air Corporation, Zotefoams plc, Lanxess AG, Foampartner Group, MH Polymers Private Limited, Covestro AG, Furukawa Electric Co. Ltd., Huntsman Corporation, Trelleborg AB, Rogers Corporation, Wanhua Chemical Group Co. Ltd., Synthos S.A., Versalis S.p.A., Total S.A., Nova Chemicals Corporation, Tucson Container Corporation, Polyfoam Corporation, Foamex International Inc., Foam Products Corporation.

What Are The Dominant Trends In Digital Farming Market Growth?
Technological advancements are a key trend gaining popularity in the digital farming market. Major companies operating in the market are focused on innovating new technologies to sustain their position in the market.

How Is The Global Digital Farming Market Segmented?

1) By Component: Hardware, Software, Other Components
2) By Technology: AI or ML or NLP, IoT, Blockchain, Big Data and Analytics
3) By Infrastructure: Sensing and Monitoring, Communication Technology, Cloud and Data Processing, Telematics or Positioning, End-Use Components
4) By Application: Yield Monitoring, Field Mapping, Crop Monitoring, Livestock Monitoring, Real Time Safety Testing, Soil Monitoring, Precision Farming

Geographical Insights: North America Leading The Digital Farming Market
North America was the largest region in the digital farming market share in 2023. The regions covered in the digital farming global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Digital Farming Market Definition
Digital farming refers to the consistent use of smart farming and precision farming techniques, internal and external farm networking, and web-based data platforms used in conjunction with big data analysis. The digital farming is used to integrate financial and field-level records for the whole management of farm activity.

Digital Farming Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global digital farming market report covering trends, opportunities, strategies, and more

The Digital Farming Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on digital farming market size, digital farming market drivers and trends, digital farming market major players, digital farming competitors’ revenues, digital farming market positioning, and market growth across geographies. The digital farming global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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