Farming and feeding segment is projected to grow at a significant CAGR in the digital agriculture market
The global digital #agriculture market is projected to reach USD 29.8 billion by 2027, at a CAGR of 10.5%, in terms of value between 2022 and 2027.
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The negative impact of ecosystem change on agriculture is the major factor driving the growth of the digital agriculture market. It is also a major driver for the market as farmers are looking for newer technology to help protect crops and livestock from diseases leading to any disruption.
Further, increase in investment by government bodies to encourage the adoption of different technology, increasing R&D activities by key players to provide affordable and sustainable solutions to the stakeholders in the value chain, remote sensing devices that enable farmers to monitor weather conditions, map soil properties, detect the growth of livestock, and help in forest management.
Farming and feeding segment is projected to grow at a significant CAGR in the digital agriculture market
By operations, the digital agriculture market is segmented into farming & feeding, monitoring & scouting, and marketing & demand generation. Farmers and other stakeholders are adopting this technology as it improves farm productivity and optimizes and automates various processes. It monitors every aspect of the farm, from crop health to livestock diseases, to their feeding pattern, which helps farms take strategic decisions.
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Leading companies are CISCO Systems, Inc. (US), IBM Corporation (US), Accenture (Ireland), Deere & Company (US), Trimble INC. (US), DeLaval (Sweden), AKVA Group (Norway), Hexagon AB (Sweden).
