According to the research 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 at USD 11.97 billion in the year 2020 and is slated to record significant expansion during 2021-2026.

Advanced digital technologies connect private sector directly to new markets, improve ways for the government to ensure safety and compliance standards, and enable efficient border procedures essential for perishable products, becoming the key growth
stimulant for global digital agriculture market.

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Besides, digitization is making agriculture more lucrative for farmers by relying on data for risk reduction and limiting resource inputs such as labor and money, which is further accelerating industry development. 

Moreover, upgradation in technology has enabled site-specific weather forecasts, probability maps to detect diseases & potential disasters occurring on account of extreme climate conditions, and near-perfect yield projections for increasing the optimal cultivation of crops, thus amplifying the scope of the business sphere to a great extent.

Concerning application spectrum, the market is split into weather tracking, field mapping, crop scouting, drone analytics, and others.

Based on type, the artificial intelligence vertical of global digital agriculture industry is predicted to garner a robust CAGR during the review period, due to widespread adoption of this technology in multiple countries. Additionally, the potential to organize data for farmers, help with the tasks of the food supply chain, monitor soil & weather conditions, and yield healthy crops is likely to support the segmental expansion.

From a geographical standpoint, Asia Pacific market is poised to witness substantial growth rate during the assessment timeframe, attributed to the immense support received from government and local firms for technology innovations. Developing economies like India and China are profoundly embracing digital technologies for agricultural activities, which is adding to industry value.

Meanwhile, Americas accounted for the maximum share in the industry in the year 2020 and is speculated to exhibit notable growth during 2021-2026.

The key players in worldwide digital agriculture marketplace include Microsoft Corporation, AGCO Corporation, Bayer AG, Deere & Company, DTN, Hummingbird Technologies Ltd., Ag Growth International Inc. (AGI), Farmers Edge, CNH Industrial N.V., Trimble Inc., and International Business Machines (IBM) Corporation among others.