Artificial Intelligence
Digital Agriculture Market to Grow Three Fold by 2028 | BlueWeave Consulting
New Delhi, Aug. 04, 2022 (GLOBE NEWSWIRE) — The agricultural market has experienced a significant rise as a result of growing awareness of the advantages of digital agriculture in maximizing agricultural productivity. The use of technologies in the agriculture sector, such as AI, drones, GPS, moisture detectors, etc., to gather, store, and analyses data in order to take necessary action is known as digital agriculture. Technology has been developed to include the whole value-addition chain till the product is delivered to the client, and not only farms.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global digital agriculture market was worth USD 10.7 billion in the year 2021. The market is projected to grow at a CAGR of 16.8% during the forecast period (2022-2028), earning revenues of around USD 31.8 billion by the end of 2028. The demand for higher crop health and production, growing labor scarcity in agriculture, and rising concern about food security and nutrition are the main reasons propelling the market for digital agriculture. A better environment for agriculture is created by the continuous income and higher standard of living without having to labor in the fields. This has led to urbanization and the use of technology on farms for day-to-day operations, which will aid in enhancing productivity at a cheap cost.
Digital agriculture provides substantial advantages for farmers in addition to wider social advantages elsewhere in the world. Additionally, it enables firms to share information beyond traditional industry borders, creating new, disruptive potential. The development of the digital era is pushing people everywhere to adopt new work practices. Technology enhances agriculture industry capabilities. The rise in demand for the creation of novel technologies without compromising productivity or the environment, the installation of software systems for waste reduction detection, and the growth in manufacturer profits are all factors that are anticipated to increase total market demand. The usage of mobile phones for digital farming hastens this trend. Increasing internet and digital connection have positive effects in underdeveloped nations. Over the course of the forecast period, these factors are predicted to fuel the expansion of the global digital agriculture market.
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Lack of Workforce and Rising Food Demand are the Two Main Factors Boosting the Growth of the Global Digital Agriculture Industry
Global population growth causes a rise in food demand, which in turn causes productivity to improve while using less resources. The need for digital agricultural solutions is also being augmented by the rising labor scarcity in agriculture as a result of urbanization and the need for reliable sources of income. Furthermore, the need for digital agriculture is growing due to the decreasing availability of natural resources like water and the effects of climate change such as the greenhouse effect. The lack of technical expertise among people, however, may prevent the industry from expanding.
Digital Agriculture Market is Anticipated to Witness Potential Growth Owing to Rising Technological Advancements in the Asia-Pacific Region
During the forecast period, the Asia-Pacific region is anticipated to register highest growth rate in the digital agriculture market due to increasing awareness about new technologies related to agriculture and adopting favorable government policies to promote digitization in the agriculture sector. With the increase in urbanization and the growing need for improving food security, the demand for digital agriculture is expected to increase in this region. APAC is expanding rapidly as a result of a number of reasons, including local corporate expansion and governmental initiatives supporting cutting-edge technical advancements. Some countries in the region, including China and Japan, have embraced, and are quickly deploying digital agriculture technologies. However, the vast development potential is still largely unrealized in the majority of Asia-Pacific markets.
New farming technology, such as precision farming, can help in using agricultural inputs in precise quantities to increase average yields as compared to traditional cultivation approaches. It is projected that the United States would contribute significantly to supporting the ecology for future foods. In the United States market, it is anticipated that there would be an increase in the availability of recently produced veggies across retail channels as more consumer insights into fresh-from-farm-to-table food are created. The UK government has placed AI at the center of its expanding productivity goals in its industrial policy. Growing worries about nutrition and food security are predicted to create a variety of new chances for the business to flourish.
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Impact of COVID-19 on the Global Digital Agriculture Market
The impact of COVID-19 resulted in significant and widespread increase in the global food insecurity, impacting vulnerable households in virtually every nation, and the effects are anticipated to last through 2022. Even before COVID-19, reduced wages and disrupted supply chains, chronic and acute hunger were on the rise for a variety of causes, including conflict, socioeconomic conditions, natural catastrophes, climate change, and pests. The consequences of COVID-19 on vulnerable households have led in considerable and widespread increases in global food insecurity. These effects are expected to persist through 2022.
Although the forecast for important grain production globally is still favorable, increased prices are a result of the strong demand, weather-related issues, macroeconomic variables, and supply disruptions brought on by COVID-19. Retail food prices are rising significantly in several countries, which points to supply disruptions brought on by COVID-19 social distancing policies, currency devaluations, and other factors. Individuals in low- and middle-income countries are more impacted by rising food prices than people in high-income countries as they spend a larger percentage of their income on food. Due to the restrictions, consumers were forced to prepare their own meals at home. Furthermore, individuals are staying away from marketplaces and supermarkets due to the possibility of getting COVID-19 virus. In addition to producers, distributors, and consumers, labor-intensive food processing industries have also been impacted by supply chain interruptions.
Competitive Landscape
The existence of several regional and local suppliers is what defines the global digital agricultural market. The digital agriculture market is competitive with domestic, regional, and international companies are all competing for a sizeable piece of the market share. Some of the prominent player in the global digital agriculture market includes Agrellus, Inc., Agri Marketplace, Agrofy, Agrostar, COFCO International, Crofarm Agriproducts Pvt. Ltd., DeHaat, Eden Farm, Farmcrowdy, Kaset Thai Hitech Co., Ltd., Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.), Tanihub, WayCool Foods and Products Pvt Ltd.
By expanding their service offerings and introducing better consumer packages and discounts, the companies continue to lead the industry. In addition to producers, distributors, and consumers, labor-intensive food processing industries have also been impacted by supply chain interruptions. A variety of tactics are used, including signing agreements, mergers, and strategic alliances. For instance, for the purpose of offering an international precision agricultural solution, IBM teamed up with Solinftec. Unparalleled IBM climate-based information is combined with Solinftec’s artificial intelligence and powerful algorithms to offer real-time decision-making solutions to improve operation efficiency, usage of inputs, and agricultural compliance, which reduces environmental impact.
The report’s in-depth analysis provides information about growth potential, upcoming trends, and global digital agriculture market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global digital agriculture market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market’s growth drivers, challenges, and competitive dynamics.
Recent Developments
- In April 2021, the Union Ministry of Agriculture and Microsoft India have signed a Memorandum of Understanding (MoU) for a pilot initiative to promote digital agriculture in 100 communities across six states. Microsoft will launch a pilot project in 100 villages across ten districts in six states (UP, MP, Gujarat, Haryana, Rajasthan, and Andhra Pradesh) to build a farmer interface for smart and well-organized agriculture, including post-harvest management and distribution.
- In February 2021, IBM and Solinftec collaborated to provide precision agricultural solutions throughout the world. IBM’s unrivaled climate understanding, combined with Solinftec’s artificial intelligence and advanced algorithms, result in real-time decision-making solutions that improve operation efficiency, input utilization, and agricultural compliance, resulting in lower environmental impact.
Scope of Report:
| Attribute | Details |
| Years Considered | Historical data – 2018-2021 |
| Base Year – 2021 | |
| Forecast – 2022 – 2028 | |
| Facts Covered | Revenue in USD Million |
| Market Coverage | North America, Europe, Asia-Pacific, Latin America, and Africa |
| Product/Service Segmentation | By component type, by application, by deployment, and by region |
| Key Players | The key players operating in the global digital agriculture market are et are Agrellus, Inc., Agri Marketplace, Agrofy, Agrostar, COFCO International, Crofarm Agriproducts Pvt. Ltd., DeHaat, Eden Farm, Farmcrowdy, Kaset Thai Hitech Co., Ltd., Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.), Tanihub, WayCool Foods and Products Pvt Ltd, and other prominent players |
By Component Type
- Hardware
- Software
- Devices
By Application
- Field Mapping
- Livestock Monitoring
- Greenhouse Farming
- Crop Scouting
- Weather Tracking
- Drone Analytics
- Financial Management
- Farm Inventory Management
- Others
By Deployment
- Cloud
- On-Premise
- Hybrid
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.
Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
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Artificial Intelligence
Trianz Appoints Sridhar Kannan as Practice Leader – Digital, Elevating its Leadership in the Global Digital Transformation Space
SANTA CLARA, Calif., May 1, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Sridhar Kannan as Practice Leader – Digital. With over 25 years of extensive experience in technology and business leadership, Sridhar joins Trianz to lead the expansion of Trianz’s Digital Practice, forging strategic alliances and expanding the business footprint.
Sridhar’s appointment comes at a transformative phase for Trianz as it solidifies its commitment to redefining the digital landscape with an “IP Led” model. This strategic shift is powered by Trianz’s cutting-edge hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace. Sridhar’s visionary leadership in technology-led business transformations across diverse sectors will be instrumental in leveraging IP-led models and innovative methodologies to position Trianz at the forefront of digital transformation.
“We are thrilled to welcome Sridhar Kannan to the Trianz family,” said Seshi Vanguru, Chief Revenue Officer at Trianz. “His appointment marks a significant stride in Trianz’s journey toward innovation and excellence. Sridhar’s wealth of experience and exceptional leadership skills will elevate our Digital Practice to new heights, reaffirming our commitment to delivering exceptional value to our clients.”
Sridhar is recognized as a client-focused technology and business transformation executive with a remarkable track record of helping Banking and Financial Services organizations in business transformation and product innovation using applications, cloud, data, and digital solutions. His extensive prior experience at industry giants such as Wipro, Cognizant, and Infosys include successfully leading Fortune 10 global client relationships and implementing transformative solutions across Banking, Financial Services, and Healthcare industries. Sridhar is highly regarded for his ability to lead global cross-functional teams, foster collaboration, and achieve aggressive business goals while consistently delivering high levels of client satisfaction.
“I am deeply honored to join Trianz and contribute to its mission of shaping the future through digital transformation,” said Sridhar. “Together, we will push the boundaries of what’s possible and drive meaningful impact for our clients in this rapidly evolving digital landscape.”
Based out of Minnesota, US, Sridhar has steered numerous clients towards success through the strategic application of Digital, Cloud, Product Engineering, Data, AI, and Application services, making him a seasoned strategist in today’s dynamic digital landscape. His appointment marks a significant milestone in Trianz’s journey to nurturing talent and delivering world-class solutions.
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our “IP Led Transformations” approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
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Artificial Intelligence
2024 World Digital Health Forum: AI at the Forefront of Healthcare Innovation
BEIJING, May 1, 2024 /PRNewswire/ — Hosted by Tsinghua University and its partners, the 2024 World Digital Health Forum emerged as a cornerstone of the ZGC Forum’s AI Theme Day. Held in Beijing’s tech-centric Haidian District, this event attracted over 700,000 online attendees from around the globe. The forum was a collaboration with the Haidian District People’s Government, the Chinese Institute of Electronics, Tsinghua University School of Clinical Medicine, and the China Association for the Promotion of Science and Technology Industrialization, highlighting pioneering innovations and fostering global partnerships to enhance patient well-being.
The Forum showcased an impressive lineup of speakers, each contributing unique insights into the evolving digital health landscape. Notable among them were Dong Jiahong, President of the Academic Committee at Tsinghua University School of Clinical Medicine, and Andrew Chi-Chih Yao, Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University and the recipient of the 2000 Turing Award. Speeches from Mustafa Shehu, President of the World Federation of Engineering Organizations, and Martin Taylor, WHO Representative in China, enriched the overall perspectives presented at the Forum. Attended by 19 academicians and 70 deans, the event spurred extensive discussions on the future of healthcare in an era increasingly shaped by AI.
A highlight of the Forum was the release of the “Tsinghua Urban Health Index,” which provides a comprehensive assessment of health services across 296 Chinese cities, establishing a new benchmark in health metrics to aid governmental and regional health planning. In addition, the “World Digital Health Forum Declaration” was ratified, laying down a robust framework for universal access to healthcare, and underscoring the importance of collaboration, ethical standards, and innovation-driven changes in global healthcare practices.
The Principal’s Dialogue, a pivotal segment of the Forum, brought together leaders from premier universities to discuss advancing new productive forces and constructing a robust medical talent-cultivating system. During this session, Tsinghua University highlighted its plans to develop an integrated education system connecting hospitals, medical schools, and research institutions. This approach aims to nurture students who are not only skilled in interdisciplinary collaboration but also deeply grounded in humanistic values. The dialogue explored the transformative impact of AI and digital technologies in enhancing diagnostic accuracy and treatment efficacy. They particularly noted the potential for these technologies to enable real-time, remote medical guidance in regions with limited medical resources, enhancing a balanced healthcare delivery nationwide. Additionally, panelists stressed the importance of maintaining an ethical and patient-centric approach in developing and adopting digital health technologies. They advocated for dynamic systems that can adapt to the evolving needs of patients throughout their lifetimes.
The 2024 World Digital Health Forum facilitated high-level discussions and catalyzed future innovations in the digital health sphere. It aims to advance the digital health industry, integrate digital technologies with health and life sciences, and foster new developments in health careers. In doing so, it seeks to enhance global health outcomes and contribute to the collective well-being of communities globally.
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