The North America Digital Agriculture Market would witness market growth of 9.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Digital Agriculture Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $8,773.2 Million by 2031. The Canada market is experiencing a CAGR of 11.4% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.5% during (2024 - 2031).
The situation will be exacerbated by climate change, which will alter hydrological cycles, increase the frequency and intensity of flooding and droughts, and render water more unpredictable. The 500 million individuals residing in deltas and the approximately 1 billion individuals residing in monsoonal basins are particularly susceptible. Droughts, which are highly dependent on rainfall variability for subsistence, and flood damages, which are estimated to be around $120 billion annually (exclusive of property damage), are among the constraints faced by the rural poor. Research has shown that precision irrigation systems can significantly reduce water wastage while maintaining or even improving crop yields.
Additionally, soil health monitoring using remote sensing and AI-based predictive modeling helps optimize fertilizer application, reducing excessive use and minimizing environmental degradation. According to a study in Environmental Research Letters, digital soil mapping has led to 20-40% reductions in fertilizer use, cutting down nitrate leaching and greenhouse gas emissions.
Government-backed digital agriculture initiatives, rapid technological advancements, and a strong emphasis on sustainable farming practices are driving North America's rapid growth of the digital agriculture market. The region benefits from the presence of well-known agritech companies, the broad use of cutting-edge technology like IoT and AI in farming operations, and the high penetration of the internet. In the United States, the growing size of farms and the integration of digital tools are accelerating the use of smart farming solutions. According to the U.S. Department of Agriculture (USDA), the average farm size increased to 466 acres in 2024, up from 440 in the 1970s. There were 212,714 farms with 53.1 million irrigated acres, which included 81 million acre-feet of water applied in the United States, according to the 2023 Irrigation and Water Management Survey results published by the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) in October 2024.
Free Valuable Insights: The Digital Agriculture Market is Predict to reach USD 38.16 Billion by 2031, at a CAGR of 9.9%
Based on Application, the market is segmented into Precision Farming & Farm Management, Livestock Monitoring, Supply Chain Management, Financial Management, and Other Application. Based on Technology, the market is segmented into IoT, Automation, AI, Drones, and Other Technology. Based on Component, the market is segmented into Hardware, Software, and Service. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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