Impact of COVID-19 on the Digital Agriculture Industry 2020-2021 with Profiles of DTN, Farmers Edge, Taranis, Eurofins and Agriwebb
DUBLIN, July 6, 2020 /PRNewswire/ -- The "COVID-19 Impact on Digital Agriculture Market by Smart Farming Systems (Livestock Monitoring, Yield Monitoring, Crop Scouting, Field Mapping, Real-Time Safety Testing, and Climate Smart), and Region - Global Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.
Post COVID-19, the global digital agriculture market size is estimated to grow from USD 5.6 billion in 2020 and is projected to reach USD 6.2 billion by 2021, recording a CAGR of 9.9%.
The 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. However, the immediate standardization process and technological awareness among farmers are some of the restraints in the market.
Some of the major players in the global digital agriculture market are DTN (US), Farmers Edge (Canada), Taranis (Israel), Eurofins (Luxembourg), and AgriWebb (Australia).
The field mapping segment is projected to grow at the highest CAGR between 2020 and 2021.
Field mapping accounted 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. It allows the farmers and growers to monitor the whole farm area through satellite imaging and regulate the processes accordingly. The 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. The 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.
Asia-Pacific is projected to be the fastest-growing in the digital agriculture market during the forecast period.
The market for digital agriculture, by region, has been segmented into Asia Pacific, Europe, the US, and RoW. The Asia Pacific region segment is to be the fastest-growing market through 2021, by value, in the digital agriculture market. Asia Pacific accounts for the most populated countries such as China and India with increasing demand for agricultural products. These countries are also the most two of the most affected countries during COVID-19. The government policies supporting the digitization of farm processes and the need for efficient usage of natural resources, along with decreasing availability of migrant laborers, are expected to increase the adoption of digital agriculture techniques.
Research Coverage
This report covers the COVID-19 impact on the digital agriculture market based on customer analysis, growth opportunities, short- and mid-term strategies, smart farming system type, end use application, and geography. A detailed analysis of key industry players has been done to provide insights into their business, COVID-19 impact and services, and key strategies associated with the digital agriculture market.
Key Topics Covered
1 Introduction
1.1 Covid-19 Health Assessment
1.2 Covid-19 Economic Assessment
1.2.1 Covid-19 Impact on the Economy - Scenario Assessment
2 Covid 19 Impact on Global Agricultural Production and Food Security
2.1 Introduction
2.2 Effect on Global Agricultural Production
2.3 Effect on Global Food Security
3 Covid-19 Impact on Digital Agriculture Ecosystem
3.1 Value Chain
3.2 Impact on the Value Chain
3.2.1 Software Application Solution Providers
3.2.2 Infrastructure and Protocol Providers
3.2.3 Distribution and Logistics
3.2.4 End-Use Industry
3.3 Macroeconomic Indicators
3.3.1 Drivers
3.3.1.1 Increase in Agricultural Produce by Helping Farmers in Making Informed Decisions
3.3.1.2 Growth in Consumption of Animal-Based Products and a Rise in Demand for Higher Production of Animal Feed
3.3.2 Restraints
3.3.2.1 Lack of Proper Standardization Practices
3.3.2.2 Technological Awareness Among Farmers
4 Customer Analysis
4.1 Introduction
4.2 Shift in the Agriculture Automation/Precision Farming
4.2.1 Disruption in the Industry
4.2.2 Impact in Customers Output & Strategies to Improve Productivity
4.2.3 New Market Opportunities
4.2.4 Risk Mitigation Strategy
4.3 Shift in the Livestock Industry
4.3.1 Disruption in the Industry
4.3.2 Impact in Customers Output & Strategies to Resume/ Improve Animal Feed Production
4.3.3 New Market Opportunities
4.3.4 Risk Mitigation Strategy
4.4 Shift in the Food and Feed Safety Industry
4.4.1 Disruption in the Industry
4.4.2 Biosecurity and Safety Solutions to Enhance Trade
4.4.3 Quality Management Systems to Combat COVID-19
4.4.4 Risk Mitigation Strategy
5 Growth Opportunities in the Digital Agriculture Industry
5.1 Introduction
5.2 Scenario-Based Analysis
5.3 Most Attractive Market: Impact & Opportunities
5.3.1 Precision Farming: Soil and Crop Monitoring
5.3.2 Livestock Farming: Milk Harvesting
5.4 Worst-Affected Market: Impact and Opportunities
5.4.1 Farm Labor Management
6 Short- and Mid-Term Strategy Shifts by Digital Agriculture Companies to Mitigate Covid Impact
6.1 Short- and Mid-Term Strategies
6.1.1 Product Level
6.1.2 Application Level
6.2 Regional/Geographic Analysis
6.2.1 US
6.2.2 Asia-Pacific
6.2.3 Europe
6.2.4 RoW
6.3 Winning Strategies in the Industry to Gain Market Share
6.3.1 Short-Term
6.3.2 Mid-Term
6.3.3 Long-Term
7 Digital Agriculture Market: Market Outlook Due to Covid-19
7.1 Smart Farming Systems
7.1.1 Yield Monitoring
7.1.2 Field Mapping
7.1.3 Crop Scouting
7.1.4 Climate Smart
7.1.5 Livestock Monitoring
7.1.6 Real-Time Safety Testing
7.2 Geography
7.2.1 Introduction
7.2.2 Asia-Pacific
7.2.2.1 India
7.2.2.2 China
7.2.3 Europe
7.2.3.1 Germany
7.2.3.2 France
7.2.3.3 UK
7.2.3.4 Rest of Europe
7.2.4 US
7.2.5 RoW
8 Company Profiles
8.1 DTN
8.2 Farmers Edge
8.3 Taranis
8.4 Eurofins
8.5 Agriwebb
For more information about this report visit https://www.researchandmarkets.com/r/eub7q2
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