Global digital agriculture market to reach US$6.2 billion in 2021

GLOBAL –  The Global Digital Agriculture market is expected to grow at a compound annual growth rate of 9.9% in 2021, growing from the US$5.6 billion achieved in 2020 to reach USD 6.2 billion in 2021 according to the latest report by Research and Markets.

Digital Agriculture is known as the use of novel, advanced and innovative technologies, to allow farmers, researchers, and others, that are working within the agriculture system, to enhance their crop yield and food production.

According to the report, increasing demand for agricultural food products, shift in consumer preferences to higher standards of food safety and quality, and unavailability of laborers during COVID-19 are some of the driving factors for the market.

Field mapping will account for the fastest-growing smart management system market in 2021, by value, in the digital agriculture market, as it is the most preferred and adopted way of digital agriculture nowadays.

This technology allows the farmers and growers to monitor the whole farm area through satellite imaging and regulate the processes accordingly.

Researchers at Research and Markets note that COVID-19 situation is expected to increase the adoption of the field mapping system, because it allows the farmers to regulate the farm processes remotely without taking unnecessary field trips.

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 They further note that current guidelines of social distancing and prohibition for not getting out from home demand the adoption of such systems, which can help farmers to undertake agricultural activities smoothly.

According to the Food and Agriculture Organisation (FAO), By 2050, the global population will be around 9.1 Billion and developing countries will register significant growth in the rise of the overall population.

Urbanization continues to surge at an exponential rate, and about 70% of the global population would live in urban areas by 2050.

As population increasing and more people move to urban centers, demand for food will reach unprecedented levels never previously seen on our planet.

Food production has to be increased by 70% from today. Annual cereal production should for instance be around 3 billion tonnes and annual meat production has to be around 470 million tonnes, by 2050.

FAO Study stated that 90% of the growth in the production of food and crops, will come from substantial investments in technology, intensification, and a significant surge in cropping intensity.

As more people demand for more food, the importance of digital agriculture as one of the key technologies in the agriculture of the future will continue to grow.

In another study, The Global Digital Agriculture market is expected to grow at a compound annual growth rate of 10.26% over the forecast period to reach a market size of $20.713 billion in 2025, further underscoring the importance of this technology in achieving global food security.

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