Agritech Market Trends to Watch in 2021 and Beyond

Agriculture plays a crucial role in the economic growth of some of the largest nations across the globe which include the US, China, India, France, Spain, Brazil, and Russia among many others. With continuously growing population and rising demand of agricultural output to meet the increasing demand, the investments in agriculture technology solutions have been growing at an impressive pace worldwide. Agritech refers to a market ecosystem that consist of companies which are using and developing different technologies to enhance their agriculture products or services offerings. These advanced offerings are aimed to increase overall yield, efficiency, cost savings, and profitability of farmers and agriculture companies across the value chain. Some of the key technologies that are penetrating the global agriculture sector include data analytics, artificial intelligence, internet-of-things, machine learning, automation systems, software as a service solutions among many others. In addition to this, the evolving business & revenue models in agriculture sector, market consolidation with bigger players acquiring smaller players to achieve economies of scale and vertical integration, trend of precision farming, and rising investments in agritech start-ups are some of the key factors that are fueling the growth of global agritech market. Agri inputs, precision agriculture, farm management software, supply chain tech, quality management and traceability are some of the key growth areas that are driving the technology adoption in global agriculture sector.

Indigo Ag, Inc., AeroFarms, Pivot Bio, Ceres Imaging, and Conservis are the five key market players operating in the agritech market. Due to highly fragmented nature of global agritech market; presence of a large number of local, regional players, and start-up companies; and most of the market players operating in some specific segment/technology, it is not feasible to shortlist the five key players in the global agritech market and hence, we have listed down above mentioned five players from the limited players that are profiled in this report. Some of the key parameters that were considered to select these players include: overall revenue, brand image & industry expertise, current agritech portfolio and related products, research and development capabilities, patents, technology integration, new product launches, partnerships, mergers & acquisitions and other market related activities.

INDIGO AG, INC., AEROFARMS, PIVOT BIO, CERES IMAGING, AND CONSERVIS -PROMINENT MARKET PARTICIPANTS IN AGRITECH MARKET

There are various other notable players in the global agritech market ecosystem such as ARSR Tech, Apollo Agriculture, Crofarm Agriproducts Pvt Ltd., LettUs Grow Ltd.,  and AgBiome, Inc. which were also profiled in this report. All of these players operate in diverse agritech market segments ranging from biotechnology to analytics and software providers.

In addition to these ten players profiled in the report, there are several other global, regional, and local players and start-ups operating in the global agritech ecosystem which were studied during the course of the study to get a holistic view of the entire market. Some of these players include: Deere & Company, Trimble, AGCO Corporation, AgJunction, Raven Industries, AG Leader, Taranis, Teejet Technologies, The Climate Corporation, Prospera Technologies, Hexagon Agriculture, and Granular among several other players in various agriculture technology segments.

Most of the market initiatives were observed in North America region, which has a high growth potential. Few of the important market initiatives and product developments from the industry are mentioned below: