Modern agriculture and farming is leading to adopt technically advanced products and digitization of the farming which are helping to transform the existing farming procedures. This industry is effectively developing and conducting procedures based on the big data. The algorithm and software are created to use important data. Additionally, the players offering the digital farming solutions are increasingly investing in the improving the product. Also, some companies are entering in to partnerships and agreement for improvement of products. For instance, recently in November, 2018, CNH Industrial N.V. one of the companies offering the digital farming solutions has accounted their agreement with Farmers Edge Inc. The Farmers Edge Inc. is agri-tech company focused on data analyzing and decision-support systems. With this collaboration, CNH Industrial N.V. is expanding its product portfolio. These launch of advanced products is fuelling adoption of these farming techniques and likely to propel growth of the global digital farming market.

Additionally, through the digital farming solutions the user can access the various equipment and other facilities such as remote sensors and drones for collection of data through automated methods. Thanks to these advancements, the adoption of the digital farming solutions is growing which is likely to propel growth of the global digital farming market.

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Here are some other factors that are helping to induce growth of the digital farming market:

Growing Need for Higher Yield to Propel Growth: Digitization of farming is primarily gaining traction due to growing need for improving the yield due to growing population. Additionally, the global population is expected to rise exponentially over the next some years; thus, the need for the food is expected to increase over the forecast period. In order to fulfil the growing need, the farmers are adopting the farming processes such as precision farming and digital farming which is likely to drive growth of the market over the next coming years.

Advantages of Digital Farming to Propel Growth: Digital farming involves the uptake of information technology, connected devices, and handling of other devices. Rising awareness about the advantages of the digital farming is fuelling its adoption which is likely to fuel growth of the global digital farming market. Additionally, the features such as precision farming, livestock handing, connected devices handling, and greenhouse farming is boosting its penetration in developing countries.

High Initial Investment to Hamper Growth: The high initial investment and limited awareness regarding digital farming are limiting growth of the market. Additionally, farmers using software coupled with concerns over data usage is restraining growth of the market.

Further Advancements in the Product to Offer Lucrative Opportunities: The key players operating in the market are investing in research and development for improving their existing hardware, software, and services to overcome the challenges in the growth of market. Additionally, these advancements are expected to help the farmers to take firm decisions in farming activities through its strong predictive analysis. These factors are offering lucrative opportunities for key players over the forecast period.

Companies Operating in the Global Digital Farming Market: Monsanto Company, Deere & Company., Bayer Cropscience Limited, Syngenta, and Accenture PLC are the some of the companies operating in the global market.