The Digital Agriculture Market: Overview
The digital agriculture market value which was around USD 14.15 billion in 2022, is expected to reach the value of approximately USD 29.49 billion by 2028, registering a CAGR of 10.15% during the forecast period. DAPs (Digital Agricultural Platforms) are a group of interfaces and technologies that come together to establish a marketplace or commercial network for B2B, B2C, and C2C transactions. Smallholder farmers, who may offer a variety of crucial services to farmers and food systems, are among the actors they bring together to boost productivity. Platforms come in a variety of sizes and shapes. The White Paper focuses on the financial institutions, mobile network operators (MNOs), major agricultural companies, and banks that are housed by the most developed nations in Sub-Saharan Africa. In order to expand the financial sustainability, influence, and outreach across diverse value chains and market groups, DAPs are gaining some momentum as a method of scalability technology across ecosystems. The primary assets, competences, and initial motivations of a DAPit's core business or mandateand the reason they chose to create a platform to support smallholder farmershave a significant impact on a platform's product offerings, sequencing, business model, as well as core target client categories. Platforms develop fundamental competencies and the relationships necessary for operations based on factors such as product mix, corporate strategy, target customers, and organizational culture.
The Digital Agriculture Market - Growth Factors
The agriculture sector's development via technology & digitalization has been identified as a feasible solution to some of the challenges facing the global food system in light of the increase in food demand. Different agricultural industry suppliers want to gain access to regional or global supply chains and improve distribution. Additionally, customers desire better price transparency, faster access to product information, and food tracking. Digital platforms have been developed to suit all market demands in the agricultural sector. An enormous increase in investment is being made in this sector as the digital agriculture industry develops. The existence of numerous unicorns, each with a sizable investment, highlights the significance of tech-driven agriculture. Digital agriculture marketplaces can be anticipated to battle for global domination in the upcoming year as companies expand outside their home markets. The lack of technological expertise among people is another factor that is anticipated to restrain the development of the digital agriculture market over the forecast period. The quick standardization process, however, may present further difficulties for the development of the digital agriculture sector in the near future.
The Digital Agriculture Market Market Trends
The market for digital agriculture is now in its beginnings. The goal of the digital market is to increase the efficiency of the agri-food supply chain both upstream and downstream of the farm worker.
The usage of farm management software and remote sensing techniques may result in a rise in adoption in the years following COVID-19. The digital agriculture supply chain has been disrupted by COVID-19, and businesses are experimenting with fresh methods of electronic communication with growers and farmers.
The Digital Agriculture Market Segmentation
The global Digital Agriculture Platform Market based on Business Channel is segregated into:
Business to business (B2B)
Business to Customer (B2C)
The global Digital Agriculture Platform Market based on Product Type is categorized into:
Perishables
Non Perishables
Agri Raw Materials
The Digital Agriculture Platform Market Regional Analysis
Asia-Pacific is anticipated to dominate the global market for digital agriculture marketplaces throughout the anticipated timeframe. These regions' strong agricultural growth and expanding emphasis on digitization in agriculture are projected to support the development of the digital agriculture market.
The Digital Agriculture Platform Market Key Market players
The major players in the market are Microsoft, Monsanto, IBM, SAP, Climate Corporation, Eka, Digital Agriculture Services Pty Ltd, Farmers Edge, FarmCrowdy, and Agrofy.
Report scope
Global Digital Agriculture Platform Market: Historical Years- 2018-2021
Global Digital Agriculture Platform Market: Forecast Years- 2022-2030
Global Digital Agriculture Platform Market 2022- USD 14.15 billion
Global Digital Agriculture Platform Market CAGR- 10.15%
