Agritech Platform Market

Agritech Platform Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031

Agritech Platform Market Segmented By Agritech Platform Services Solution in Livestock Monitoring, Precision Farming, Precision Aquaculture, Smart Greenhouse

Agritech Platform Market Introduction

Agritech is the use of technology for farming and is developed for improving farming through information monitoring and analysis of weather, soil, air temperature.

The Agritech platform provides access to agricultural inputs such as planting material, seeds, fertilizers, and equipment and also try to provide farmers with adequate information on the quality and best practices of the products they buy.

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Agritech Platform Market Forecast and CAGR

According to latest research, Agritech Platform market is estimated to grow with a expected CAGR of 11%. The agritech platform market is witnessing growth during the years, owing to increasing implementation of technologies like internet of things, artificial intelligence in agriculture for helping farmers to enhance their productivity.

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Adoption of Agritech Platform In COVID-19 Pandemic

COVID-19 pandemic has affected the economy as well as sectors like agriculture in various regions. As the pandemic hitting the world, the adoption of technologies like AI, ML, IoT has increased. The agriculture sectors has witness the rise in adoption of technologies like AI and IoT.

The agritech players are focusing on introducing innovative products. Agritech players are integrating AI, IoT, remote sensing technology and data analytics to offer immediate solution to farmers.

Technologies like IoT, and AI helped in creating channels during the pandemic restrictions that allowed farmers to choose their market and sell the products at the right price.

Agritech startups players are offering AI-based application that help predict the weather condition and determine the right time to sow seed with precision for getting better results and less wastage. However, many agritech startups are coming with innovative ideas in COVID-19 pandemic to help the farmers.

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What is Driving Demand for Agritech Platform?

Agritech platform can help the farmers to gain high returns for agribusiness if used to its complete potential. Demand for agritech platform is increasing as it helps farmers to solve problem of nature on crops by collecting intra and inter-field information. Agritech platform provides inputs about required quantity of irrigation water, liquid fertilizers, pesticides, nutrients, thereby reducing wastage of resources.

The use of agritech platform helps the farmers in enhancing land fertility, maximize productivity, facilitate sustainable agriculture, and reduce the farming cost. Increasing business efficiency through process automation and improved output with low farming cost are the major reasons for the adoption of agritech platform. Also, farmers are adopting the agritech platform for increasing crop yield and profit margin.

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South Asia & Pacific Agritech Platform Demand Outlook

South Asia & Pacific region is expected to witness high growth during the next few years as the adoption of agritech platform in countries like India is increasing.

The adoption of variable rate technology and smart irrigation controllers, along with AI-based farm analytics services are the major factors driving the growth of agritech platform in the region. In country like India, economic loss due to lack of information on crop yield productivity is the major concern and these hurdle is overcome by the implementation of advanced technology in agriculture.

Agritech startups in the region are focusing on helping the farmers by making supply chain efficient in the sector and providing better access to agriculture inputs for farmers. Also agritech companies are providing better soil and weather information to farmers as there is ever growing need for farmer resilience technology.

Agritech companies in the region are adopting technologies for instance data digitization and to make agriculture industry more efficient.

Who are the Key Providers of Agritech Platform?

Some of the leading Agritech Platform providers include

  • CropX
  • Arable
  • Gamaya
  • Agro-star
  • Waycool
  • Ninja Cart
  • Cropsafe
  • Xocean
  • Machine Eye
  • FarmEye
  • Farmlink
  • CropIn
  • Intello Labs
  • Among others.

These vendors are adopting different strategies for enhancing the customer base and their product offering locally and globally. Companies are also investing millions of dollars into research and development activities to fulfill the unmet needs of their customers. Furthermore, many companies are focusing on inorganic strategies by acquiring small and mid-sized organizations present in this market.

Key Segments

By Solution

  • Agritech Platform
  • Services
    • Integration & Implementation
    • Consulting Services
    • Support & Maintenance

By Application

  • Livestock Monitoring
  • Precision Farming
  • Precision Aquaculture
  • Smart Greenhouse
  • Others

By Region

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
    • Russia
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia & Pacific
    • India
    • Malaysia
    • Indonesia
    • Singapore
    • Australia & New Zealand
    • Rest of South Asia & Pacific
  • Middle East & Africa
    • GCC Countries
    • Turkey
    • South Africa
    • North Africa
    • Rest of Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Agritech Platform Market Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

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