Digital Agriculture Market Size, By Technology (Core technology, Peripheral Technology), By Operation (Farming & Feeding, Monitoring & Scouting, Marketing & Demand Generation), By Component (Hardware, Software, Services), By Offering, By Region, Forecast

Digital Agriculture Market Size, By Technology (Core technology, Peripheral Technology), By Operation (Farming & Feeding, Monitoring & Scouting, Marketing & Demand Generation), By Component (Hardware, Software, Services), By Offering, By Region, Forecast 2024 - 2032

Global Digital Agriculture Market will witness over 11% CAGR between 2024 and 2032 as companies increasingly showcase the efficacy of digital farming practices at leading events. These events serve as platforms for companies to demonstrate cutting-edge technologies such as precision agriculture, IoT sensors, and data analytics that optimize farming processes.

For instance, in March 2024, BASF Agricultural Solutions organized an event titled The Science Behind Digital Agriculture. The event highlighted xarvio FIELD MANAGER and its innovative seed variety placement technology, known as xarvio SeedSelect. Leveraging sophisticated data and analysis techniques derived from field research trials and local soil and topographic attributes, xarvio SeedSelect provided retailers and growers with valuable insights for making crucial decisions.

By harnessing digital solutions, farmers can enhance crop yields, reduce resource wastage, and mitigate risks associated with weather variability and pests. The adoption of digital farming techniques not only improves productivity but also promotes sustainability and environmental conservation.

The overall Digital Agriculture Industry size is classified based on the technology, operation, component, offering, and region.

The hardware segment will record a noteworthy market share through 2032. These hardware components, such as sensors, drones, and automated machinery, play a crucial role in digitizing farming operations. With the increasing adoption of precision agriculture techniques, farmers seek advanced hardware that can collect real-time data, monitor crop health, and optimize resource usage. Additionally, the need for rugged and durable hardware capable of withstanding harsh agricultural environments further drives market demand. As technology continues to advance, the demand for innovative hardware solutions in the digital agriculture market could persist and grow, fueling further technological developments in the sector.

Advisory services segment will register an appreciable CAGR from 2024 to 2032. As farmers navigate the complexities of adopting digital technologies, they seek expert guidance to maximize their benefits. Advisory services provide invaluable insights on selecting suitable digital solutions, interpreting data analytics, and implementing best practices for improved farm management. With the growing recognition of the transformative potential of digital agriculture, the demand for knowledgeable advisors continues to rise. These services play a crucial role in facilitating the adoption and integration of digital technologies, ultimately driving efficiency, sustainability, and profitability in agriculture.

MEA Digital agriculture market share will showcase a significant CAGR from 2024 to 2032. Factors such as population growth, water scarcity, and the need to enhance food security are driving the adoption of digital technologies in agriculture. Farmers in the region are embracing solutions like precision farming, IoT sensors, and data analytics to optimize resource usage and improve crop yields. Additionally, government initiatives and investments in agricultural modernization further fuel the demand for digital agriculture solutions. As the region strives for sustainable agricultural practices, the demand for digital technologies in MEA continues to grow steadily. For instance, in March 2024, Africa-based agricultural technology company TRADEREX, specializing in connecting farmers with international traders, was accepted into the Global System for Mobile Communications (GSMA) AgriTech Accelerator program. Through this initiative, Traderex will receive technical support for two years aimed at facilitating the expansion of its digital solutions.