The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising food demand is expected to spur innovation in digital farming manufacturing, propelling the market during the forecast period.

The global digital farming market is expected to grow from $12.24 billion in 2022 to $13.97 billion in 2023 at a compound annual growth rate (CAGR) of 14.1%. The digital farming market is expected to grow to $23.00 billion in 2027 at a CAGR of 13.3%.

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Global Digital Farming Market Segments Include:

• By Component: Hardware, Software, Other Components
• By Technology: AI or ML or NLP, IoT, Blockchain, Big Data and Analytics
• By Infrastructure: Sensing and Monitoring, Communication Technology, Cloud and Data Processing, Telematics or Positioning, End-Use Components
• By Application: Yield Monitoring, Field Mapping, Crop Monitoring, Livestock Monitoring, Real Time Safety Testing, Soil Monitoring, Precision Farming
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global digital farming market in 2021.

Major Market Players in the digital farming market include Trimble Inc., Accenture plc., Deere & Company, IBM Corporation, Monsanto Company, Bayer Cropscience Limited, Syngenta AG, BASF SE, AgGateway, Aglytix Inc., CropX Inc.

Technological advancements are a major trend that is gaining traction in the digital farming market. To maintain their market position, major players in the digital farming market are focusing on the development of new technologies. CropX Technologies, an Israel-based ag-analytics company that produces cloud-based software aimed at conserving water and energy, for example, launched the continuous nitrogen leaching monitoring capability in August 2022, a new capability that continuously monitors salt and nitrogen movement in the soil. Farmers can increase output and improve plant and soil health by monitoring and mitigating the environmental effects of nitrogen leaching. CropX technology combines real-time soil moisture, temperature, and electric conductivity (EC) data from soil sensors with custom algorithms developed and lab-tested by a team of in-house agronomists. The data is then displayed on the CropX farm management system’s dashboard for easy viewing and reporting.

The Digital Farming Global Market Report 2023  provides a digital farming market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The digital farming market forecast analyzes digital farming market size, digital farming market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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

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