Agtech market is poised to grow at a high CAGR reaching USD 20 billion in 2025 rising from USD 9 billion in 2020.

Agtech Market (Agricultural technology) market is on display with a prolific industry which has a growth rate poised to cross 150% over the forthcoming five years. Agtech market comprises services such as agricultural sensors for crop management, GPS field mapping to have a robust crop yield. Putting in to use digitalization to improve market yield and gaining rich insight-driven results is driving the Agritech market immensely.

Request Sample Report: https://www.researchinformatic.com/sample-request/32

Key Drivers

The 2 main key resources in agriculture in the era of digitalization include agriculture sensors and a well-oiled supply chain management. These resources have contributed to 67% of market value in preceding years.

With investments snowballing and changing technology trends improving consumer tastes, demand in Agtech space will propel the Agtech market higher-up.

Though, the growing factors driving market growth still remain the usual hands which include monitoring, livestock farming and government support in agriculture beefed up with automation and modern techniques in cultivation. Agriculture market is a tight economy market with slender profit margins. Minimizing operational setbacks will tow in growth for agriculture, pouncing back on a resonating Agtech market.

Developing countries with likes of India and China are bolstering the Agtech market with tech related insights.

Big data, IoT, VR, AR, Robots and AI keep the pace of the Agtech market competitive in a fast-paced milieu. Driverless tractors, sprayers and harvesters come under the umbrella term Agtech market.

The market is driven by smart agriculture gaining immense ground. Data shows that smart agriculture has grown from $9.58 billion in 2017 to $12.4 billion in 2020. And according to BIS Research, the market is expected to grow to $34.1 billion by 2026.

Food production always has increased market precision with vertical farming having found takers in this millennium.

Inquiry Before Buying Report: https://www.researchinformatic.com/inquiry/32

Restraints

Upfront funding and initial capital required for agricultural equipment hinders growth of global Agtech market. Smart farming is growing with small farmers in emerging economies finding the going tough with high cost negatively impacting growth of the global Agtech market. Blockchain and automatic sensors are profoundly found in Agtech with modernization taking the cue. Data packets in ledgers and transparency in supply chain that improve efficiency and sensors which make Agtech equipment responsive to human touch such as soil fertility measurement resonate with growth in Agtech market. Livestock tracking using sensors is optimized and made easy by far.

Segmentation

The Agtech market is made up of a few key segments. According to 2020 data, precision agriculture is the largest of those segments, valued at $4.billion plus

This was later followed by livestock monitoring and management ($ 2 billion +), indoor farming ($1billion +), and aquaculture ($ 0.9 billion +). Other Agtech segments totaled $0.8 billion.

By Region

In 2021, the market value of agricultural technology (agtech) in North America looked up at approximately 6.2 billion U.S. dollars, the strongest marker compared to other regions in the world.

This is so because the governments in North America initiate their actions on a growing agriculture business including a favorable government back-up that ramps up the Agtech market decisively.

Asia pacific market aims to grow in the market on the back of positive government investments and a lot to do with Agtech awareness.

Ask For Customization: https://www.researchinformatic.com/request-customization-32

Key Players

Few of the key players in agtech market include AgroStar, Topcon Agriculture, Antelliq, DeLaval, Trimble, Deere & Company Apollo Agriculture, Benson Hill Biosystems, Bowery Farming Inc., Ceres Imaging, Conservis, CropX, Gro Intelligence, Impossible Foods, Indigo AG, LettUs Grow, Meicai, Ninjacart, Pivot Bio, and Plenty Inc.

Segmentation

By Type

· Precision Farming

· Livestock Monitoring

· Fish Farming

· Smart Greenhouses

· Others (Forestry & Horticulture)

By Hardware

· PS/GNSS

· Drones/UAVs Irrigation Controllers

· Yield Monitors

· Guidance & Steering Systems and Sensors

· Others

By Software

· Nylon

· Polyester

· Others

By Application

· Agricultural management platforms

· Supply chain and inventory management solutions

· GPS services and field mapping services

· Agricultural monitoring services

· Micro-farming solutions.

By Region

· North America

· Europe

· Asia Pacific,

· Middle East and Africa (MEA)

· South America

Quick buy: https://www.researchinformatic.com/checkout/32/single_user_license

About Us:

Research Informatic is a bulging market research and consultancy company based in Nevada, United States, with a report distribution center in India. We are committed to assisting our clients in making critical business decisions by fulfilling their niche market research needs. Our clients are spread across more than 130 countries and in all business domains. Our service offerings include syndicated research, tailored research, consumer surveys, and consulting. We concentrate on making investment decisions based on a variety of criteria such as growth size, benefits strategies, technical advances, and changing consumer inclinations, to name a few.

Our syndicated and custom research reports assist our customers in growing their businesses across a broad range of industries. In the fields of healthcare, chemicals and materials, ICT, Automation, Semiconductors & Electronics, Consumer goods, Energy, Food & Beverages, and Packaging, we include research studies in the form of syndicate reports, custom reports, market surveys, and consultancy projects.

George Miller

1887 Whitney Mesa

Dr. Henderson, NV 89014

+1 775 237 4157

sales@researchinformatic.com

https://researchinformatic.com

Agtech Market Poised for Growth With Prominent Key Players