Asia-Pacific Digital Farming Software market, By Component (Software and Services), Technology (Remote Sensing, Guidance Technology, Variable Rate Technology, Machine Learning, Wireless Connectivity and Others), Application (Drone Analytics, Precision Farming, Agriculture Robots, Livestock Monitoring, Greenhouse Management, Supply Chain Management, Financial Management and Others), Country (China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Digital Farming Software Market
The digital farming software market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.4% in the forecast period of 2021 to 2028 and is expected to reach USD 2,000.03 million by 2028. Increasing demand for digital farming software is acting as major factor for the growth of the digital farming software market.
Digital farming software is the programmed tools which are developed to optimize and manage farm operations and production activities. The software helps to automate various farm activities such as record management, data storage, monitoring and streamline production activities. Digital farming software maximize yield and revenue related to crops and others using data-driven insights.
Implementing digital farming software makes daily farming operations more efficient. Also, farmers can lower the cost and can focus on quality production which is increasing the utilization and adoption of digital farming software and acts as a driving factor for the growth of the digital farming software market. There is low adoption rate of digital farming software across some areas due to lack of knowledge about the benefits and trust issues which hinders the growth and acts as a restraining factor for the digital farming software market. Internet of things has the potential to transform agriculture in the coming future. IoT-driven agriculture are paving the way to deliver a more productive and sustainable form of agricultural production which is an opportunity for the growth of the digital farming software market. It has been observed that farmers feel insecure to share their internal farm data with companies for availing the benefits of digital farming software which acts as a challenge for the digital farming software market growth.
This digital farming software market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the digital farming software market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Digital Farming Software Market Scope and Market Size
The digital farming software market is segmented on the basis of component, technology and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the digital farming software market is segmented into software and services. In 2021, software segment held larger share in the market owing to factors such as increasing agriculture productivity, growing demand for real-time data management, surging adoption of advance agriculture techniques, vast implementation of precision farming software, focus toward maximum yield production, gathering necessary information about weather conditions and others.
- On the basis of technology, the digital farming software market has been segmented into remote sensing, guidance technology, variable rate technology, machine learning, wireless connectivity and others. In 2021, remote sensing segment held the largest share in the market as it supports in detection of crop water stress, classification of crop species, monitoring of weeds and crop diseases and mapping of crop yield.
- On the basis of application, the digital farming software market has been segmented into drone analytics, precision farming, agriculture robots, livestock monitoring, greenhouse management, supply chain management, financial management and others. In 2021, precision farming segment held the largest share in the market mainly due to the factors such as farmers’ inclination toward making better food produce and fetch good price, need for improvisation in yield and optimum utilization of available scarce resources.
Asia-Pacific Digital Farming Software Market Country Level Analysis
Asia-Pacific digital farming software market is analysed and market size information is provided by the country, component, technology and application as referenced above.
The countries covered in the Asia-Pacific digital farming software market report are the China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and rest of Asia-Pacific.
China dominates the Asia-Pacific digital farming software market owing to the factors such as intense focus toward digitization of agricultural industry and surging favourable government support in terms of adopting technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Digital Farming Software
The digital farming software market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in digital farming software and changes in regulatory scenarios with their support for the digital farming software market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Digital Farming Software Market Share Analysis
The digital farming software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Asia-Pacific digital farming software market.
The major players covered in the Asia-Pacific digital farming software market report are Bayer AG, CropX inc., NETAFIM (a subsidiary Of Orbia), Ag Leader Technology, Accenture, Infosys Limited, Yara, Trimble Inc., DJI, Pix4D SA, BASF SE, AGCO Corporation, Deere & Company and Topcon among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of digital farming software market.
For instance,
- In October 2020, Bayer AG entered into collaboration with XAG to bring, promote and commercialize digital farming technology in Southeast Asia & Pakistan. This collaboration enabled farmers in Southeast Asia & Pakistan regions to access digital farm management and technology and helped them to overcome farming challenges as labour shortage, water availability and others. This has helped the company to enhance their presence and to grow in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for digital farming software through expanded range of size.
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