Digital Agriculture MarketPlace Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global Digital Agriculture MarketPlace Market was valued at USD 20.8 billion in 2022, and CAGR of 9.2% is expected during the forecast period. With increasing food demand, growth in innovation, and research and development in the agriculture field, along with digitization, is driving the demand in the market. Integration of IoT devices in agriculture, such as sensors, drones, and automated machinery, is driving the growth in the market.

Artificial intelligence and machine learning are being used to analyze large datasets, predict crop yields, optimize irrigation, and enhance supply chain management. Blockchain provides transparency and traceability in the supply chain, which is crucial for food safety and ensuring fair trade practices.

Growth Drivers

WHO has anticipated the global population to reach nearly 10 billion in 2050. Increasing demand to produce more food with limited resources is driving growth in the market significantly. The need for more resilient agricultural practices is driving the adoption of digital tools that help farmers adapt to changing weather patterns and environmental conditions. The government is offering incentives and subsidies to encourage the adoption of digital technologies in agriculture.

Policies promoting sustainable agriculture and the use of digital tools are driving growth in the market significantly. Digital marketplaces allow consumers to trace the origin of their food, ensuring that it meets certain standards of quality and sustainability. Digital agriculture helps in reducing input costs through optimizing resource usage, such as water, fertilizers, and pesticides. Precision agriculture led by digital tools yields better crops.

Online platforms are connecting farmers directly with buyers, eliminating middlemen, and providing better market access. Collaboration between governments, corporations, and startups is fostering innovation in the digital agricultural sector. The rise of startups focusing on aggrotech solutions is contributing to the development and adoption of new digital tools and platforms. Increasing expansion of services by aggrotech startups is helping to spread digital agricultural practices.

Segmentation

By Component Type

·         Hardware

·         Software

·         Services

By Technology

·         Precision Farming

·         Smart Greenhouse

·         Livestock Monitoring

·         Others

By Application

·         Field Mapping

·         Yield Monitoring

·         Soil Monitoring

·         Crop Scouting

·         Irrigation Management

·         Weather Forecasting

·         Farm Management

By Deployment Mode

·         Cloud Based

·         On-Premise

By Farm Size

·         Small and Medium Size

·         Large Farms

By End-Users

·         Farmers

·         Agricultural Cooperative

·         Research Institutions

·         Government Agencies

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Digital Agriculture Marketplace Market by Technology Segmentation

On the basis of the technology, the digital agriculture marketplace market is segmented into precision farming, smart greenhouses, livestock monitoring, and others. Precision farming is the leading segment in the market. Precision agriculture allows farmers to optimize the use of inputs like water, fertilizers, and pesticides by applying them only where and when they are needed. This targeted approach improves crop yield and reduces waste. Leading to higher productivity and portability.

Recent advancements in technologies such as GPS, IoT sensors, drones, and satellites have made precision agriculture more effective and accessible. These technologies enable real-time monitoring of crop health. Variable rate technology allows for precise application of inputs, minimizing excess use, and lowering expense. Cost efficiency is particularly attractive to farmers looking to maximize their return on investment. Precision agriculture promotes sustainable farming practices by reducing the environmental impact of agriculture. Many governments around the world are promoting the adoption of precision agriculture through subsidies, grants, and educational programs. These initiatives are aimed at encouraging sustainable farming practices and ensuring food security, which further drives the growth in this market.

Regional Outlook

On the basis of the regions, the digital agriculture marketplace market is segmented into 5 types: Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. North America is the leading segment in the market due to the well-established agriculture infrastructure of the United States and Canada. The region’s farming infrastructure supports the integration of digital tools and precision agriculture practices. High adoption rate of technology, including IOT, AI, and big data analytics. Farmers in the region are continuously using these technologies to ensure better crop yield, optimize resource use, and enhance farm management practices.

Many leading companies, like TRIMBLE, John-Deere, and IBM, have their headquarters in North America. These companies drive development and innovation in the market. High investment in research and development due to growing demand for sustainable farming practices in the region is the key factor behind the significant growth. Farmers in the North American region are generally more educated and well aware of the benefits of digital farming. Digital agriculture technologies enable farmers to reduce waste, use resources more efficiently, and minimize their environmental footprint. The region is blessed with a highly skilled workforce in agriculture and technology.

Asia Pacific is another leading region in this market due to the increasing need for excess food for a rapidly growing population. Countries like China and India are big agriculture markets due to their large populations and skilled workforces. Rapid advancements in technologies like IOT, AI, machine learning, and cloud computing are fueling the growth of the digital agriculture market significantly. The availability of large agricultural land is fueling growth in digital agriculture. Governments in countries like China, India, and Australia are actively promoting the adoption of digital agriculture through subsidies, pilot projects, and infrastructure development. The region has seen a surge in investment in agri-tech start-ups, which are developing innovative solutions tailored to the specific problems related to agriculture.

Asia Pacific has a high rate of adoption of mobile technology, IoT devices, and data analytics, even in rural areas. This technological penetration makes it easier for farmers to adopt digital agriculture tools, such as precision farming, smart irrigation, and remote sensing. Governments in countries like China, India, Australia, and South Korea are promoting digital agriculture through subsidies, pilot projects, and infrastructure development. These initiatives are aimed at modernizing agriculture and ensuring food security. The presence of key players in the region is another reason behind the significant growth in the market. Europe, the Middle East, Africa, and Latin America are also witnessing moderate growth in the market.

Key Players

·         Accenture

·         Epicor

·         John-Deere

·         CISCO

·         USDA

·         Trimble

·         ICARDA

·         ACFR

·         ISPA

·         Other Players