Digital Farming Market 2021Growth factor and opportunities and future trend
Digitization of farming is expected to help feed the growing population. The global population is expected to increase by about 40% and reach 9.6 billion by 2050. Therefore, the overall food production needs to double to meet the rising demand for food. The current production rate, process, and distribution method would not be sufficient to feed the growing population; thus, adoption of new and advanced technology, at various levels of farming, is expected to become vital to meet the growing demand.
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Rising population and increasing demand for food are prominent factors driving the digital farming market. Moreover, the growing demand to efficiently deal with pests, weeds, and other diseases is encouraging farmers to digitize their farms. In developing regions, cheaper internet data and strong penetration of smart devices (especially smartphones) are driving the digital farming market. Active participation of governments in digitizing farms through investment is also driving the digital farm market. For instance, in October 2017, the Government of Karnataka (a state in India) signed a memorandum of understanding (MoU) with Microsoft Corporation to empower small farm holders with technology-oriented solutions to improve productivity.
The global Digital Farming market is segmented on the basis of component, application. On the basis of component, market is segmented as hardware, software, others. On the basis of application, market is segmented as precision farming, live stock monitoring, green house farming, others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Digital farming market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America.