Global Digital Farming Market: Technology advancements and IoT device installations in agriculture farms projected to witness a market growth at CAGR of 11.7%.

Published Date: 11/05/2021

The digital farming market is estimated to be USD 7.0 billion in 2020 and is projected to reach USD 12.8 billion by 2027, at a CAGR of 12.7% between 2020 and 2027. Digital farming or digital agriculture is basically the use of IT in agriculture and it involves applications of connected machinery and other digital agriculture technologies. Digital farming is used to improve overall farm production, to improve financial performance and to help farmers to boost their farms productivity by means of advanced digital technology. Further, involvement of digital technology in farming is an evolution in agriculture sector and has positively impacted the efficiency and sustainability of the farms. Digital farming deals with use of biology and technology together in order to help farmers to do precise farming.

Global digital farming market is anticipated to flourish at a remarkable pace over the forecast period i.e.,2017-2024. Rising world population and rapidly decreasing arable land are some of the major factors which are propelling the growth of global digital farming market in order to improve overall efficiency and production of available arable lands.

Digital farming is basically a combination of smart machines & connected machines. Further, growing adoption of smart and connected machines in order to improve overall farm yield is a major factor which is predicted to fuel the growth of global digital farming market.

Moreover, rapid introduction of advanced agricultural machines such as unmanned tractors, agricultural robots and agricultural drones are also fuelling the growth of global market of digital farming.