ICT & Electronics Digital Farming Market | Page 2

“Digital Farming Market: Global Demand Analysis & Opportunity
Outlook 2024”
The global digital farming market is segmented into component type which
includes software, hardware, others. Among these segments, hardware segment
is likely to be the dominating segment during the forecast period. Digital faming
involves a number of hardware components including GPS (global positioning
system), steering devices, receivers and other variable rate technologies. Further,
the use of hardware components in digital farming is likely to increase due to
rising need for minimization of input and to increase land productivity.
Global digital farming market is projected to grow at robust compound annual
growth rate (CAGR) during the forecast period. Further, global market of digital
farming is expected to reach at notable revenue by the end of 2024. Growing
adoption of smart technologies in agriculture sector in order to improve overall
farm yield and growing need for livestock monitoring of farms are likely to surge
the growth of global digital farming market.
The precision farming segment by application is estimated to witness significant
growth during the forecast period. Moreover, growing implementation of
advanced technologies in farming and increasing awareness amongst the
consumer towards precision farming are key factors which are projected to fuel
the growth of global digital farming market during the forecast period.
Implementation of smart technologies in agriculture
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.
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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.
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