According to the business intelligence report titled ‘Global Digital Agriculture Market - Analysis By Type (Crop Monitoring, Artificial Intelligence, Precision Farming), Application, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global digital agriculture market was valued USD 11.97 billion in 2020 and is slated to record a robust growth rate through 2026.

Rising penetration of digital technologies for trade of agriculture and food products to form a channel between private sector suppliers and new markets is facilitating expansion of global digital agriculture market.

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Advantages such as increased profitability, minimized input resources, improved reliability in the form of precise weather forecasts, probability maps, and yield projections may propel the demand for digital agriculture solutions in the forthcoming years. In addition, digital technologies also enable government authorities to monitor and standardize perishable goods in a faster and more efficient manner.

Moving on to segmentation, based on product type, the artificial intelligence sub-segment is predicted to grow at a robust pace during the study period, creditable to the proliferation of this technology across on account of various applications like organization of data for farmers, growing healthier crops, monitoring soil conditions, while also improving various other agricultural tasks in the entire food chain.

From a regional standpoint, Americas held the largest portion of global digital agriculture industry share in terms of revenue in the recent past. On the other hand, the Asia Pacific region is likely to witness strong returns during the analysis period in view of booming digital agriculture technologies across economies like China and Japan along with increase in government funding towards the adoption of newer advanced technologies.

The competitive landscape of this marketplace is majorly influenced by key players such as Trimble Inc., Bayer AG, Microsoft Corporation, AG Growth International Inc., Hummingbird Technologies Ltd., IBM Corporation, Farmers Edge Inc., AGCO Corporation, DTN, Deere & Company, and CNH Industrial N.V.