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Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of expe.....
Agritech market size was valued at US$ 21,894.8 million in 2023 and is poised to grow at 16.9% CAGR from 2024 – 2030. Agritech, or agricultural technology, is the use of science and technology to improve agriculture, horticulture, and aquaculture the goal of agritech is to increase efficiency, profitability, and yield. The key driving factors of the market are increasing emphasis on food security, strategic partnerships between agritech firms, and agricultural equipment manufacturers, and changing dietary preferences. However, the restraints of the market are high cost, lack of digital literacy, supply chain inefficiencies, concerns over data security and technology, and limited understanding among farmers about the technology.
Emerging opportunities in the market are extensive implementation of precision farming, crop monitoring technologies, startups using AI and data to predict supply and demand to deliver products to farmers, and adoption of vertical farming solutions as they are attractive & it maximize the plant space. The emerging trends of the market are IoT & smart farming, emerging demand for robotics with the combination of satellite technology which will lead to more efficiency and fewer mistakes, and adoption of agricultural robotics which will help with tasks like weed control, and harvesting. For instance, using soil sensors to measure soil moisture, temperature, and nutrient density thus enables farmers to address the individual needs of each crop.
Study Period
2024-2030Base Year
2023CAGR
16.9%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The primary factor propelling and anticipated to support the growth of the global agritech market is the extensive application of precision farming in various applications. Proper harvesting is made possible by robotic and IoT devices with the help of sensors for crop monitoring. For instance, John Deere, the corporation has been working on linked, next-generation agricultural technologies, and after more than three years of testing including on real farms, they launched their autonomous tractor. New agricultural ecosystems are more likely to be adopted by farmers who use cutting-edge technology like IoT and cloud since digitalization has increased farmer connectivity. Biotechnology, sensing & IoT, farm management software, farm robotics, and innovative agricultural techniques are a few of the components provided by agritech.
Based on region analysis, the agritech market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America and significantly USA are expected to dominate the market, Considerable advancements in biotechnology research and development are being made possible by North America's dedication to this field of agritech.
Nevertheless, Asia Pacific is one of the top regions in the agritech platform market because of the significant contributions made by tech giants to technological advancements and the increasing trend of merges and acquisitions among industry competitors. Farmers in the area are preparing to use farm management systems and precision farming, which is driving up market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 21,894.8 million |
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Market CAGR |
16.9% |
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By Type |
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By Application |
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By Sector |
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By Region |
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Download Free Sample Report
The global agritech market size was valued at US$ 21,894.8 million in 2023 and is expected to grow at a CAGR of 16.9% from 2024 to 2030.
The key market drivers of agritech market are increasing emphasis on food security, the rising number of precision farming in different applications.
The key market trends of agritech market are IoT & smart farming, emerging demand for the robotics with combination of satellite technology
North America has the largest market share in agriculture agritech market.
WayCool, Mankind Agritech, Ken Agritech, AeroFarms, Apollo Agriculture are the key market players in agritech market
| 1.Executive Summary |
| 2.Global Agritech Market Introduction |
| 2.1.Global Agritech Market - Taxonomy |
| 2.2.Global Agritech Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.Sector |
| 2.2.4.Region |
| 3.Global Agritech Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Agritech Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Agritech Market By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Big Data and Analytics |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Biotechnology and Biochemical |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Mobility |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Sensors and Connected Devices |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Other |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Agritech Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Production and Maintenance |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Irrigation |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Supply Chain |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Marketplace |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7.Global Agritech Market By Sector, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Precision Farming |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Agriculture |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Agrochemicals |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Smart Agriculture |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Biotechnology |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Indoor Farming |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 7.7. Others |
| 7.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.7.3. Market Opportunity Analysis |
| 8.Global Agritech Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Agritech Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Big Data and Analytics |
| 9.1.2.Biotechnology and Biochemical |
| 9.1.3.Mobility |
| 9.1.4.Sensors and Connected Devices |
| 9.1.5.Other |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Production and Maintenance |
| 9.2.2.Irrigation |
| 9.2.3.Supply Chain |
| 9.2.4.Marketplace |
| 9.2.5.Others |
| 9.3. Sector Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Precision Farming |
| 9.3.2.Agriculture |
| 9.3.3.Agrochemicals |
| 9.3.4.Smart Agriculture |
| 9.3.5.Biotechnology |
| 9.3.6.Indoor Farming |
| 9.3.7.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Agritech Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Big Data and Analytics |
| 10.1.2.Biotechnology and Biochemical |
| 10.1.3.Mobility |
| 10.1.4.Sensors and Connected Devices |
| 10.1.5.Other |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Production and Maintenance |
| 10.2.2.Irrigation |
| 10.2.3.Supply Chain |
| 10.2.4.Marketplace |
| 10.2.5.Others |
| 10.3. Sector Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Precision Farming |
| 10.3.2.Agriculture |
| 10.3.3.Agrochemicals |
| 10.3.4.Smart Agriculture |
| 10.3.5.Biotechnology |
| 10.3.6.Indoor Farming |
| 10.3.7.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Agritech Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Big Data and Analytics |
| 11.1.2.Biotechnology and Biochemical |
| 11.1.3.Mobility |
| 11.1.4.Sensors and Connected Devices |
| 11.1.5.Other |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Production and Maintenance |
| 11.2.2.Irrigation |
| 11.2.3.Supply Chain |
| 11.2.4.Marketplace |
| 11.2.5.Others |
| 11.3. Sector Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Precision Farming |
| 11.3.2.Agriculture |
| 11.3.3.Agrochemicals |
| 11.3.4.Smart Agriculture |
| 11.3.5.Biotechnology |
| 11.3.6.Indoor Farming |
| 11.3.7.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Agritech Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Big Data and Analytics |
| 12.1.2.Biotechnology and Biochemical |
| 12.1.3.Mobility |
| 12.1.4.Sensors and Connected Devices |
| 12.1.5.Other |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Production and Maintenance |
| 12.2.2.Irrigation |
| 12.2.3.Supply Chain |
| 12.2.4.Marketplace |
| 12.2.5.Others |
| 12.3. Sector Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Precision Farming |
| 12.3.2.Agriculture |
| 12.3.3.Agrochemicals |
| 12.3.4.Smart Agriculture |
| 12.3.5.Biotechnology |
| 12.3.6.Indoor Farming |
| 12.3.7.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Agritech Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Big Data and Analytics |
| 13.1.2.Biotechnology and Biochemical |
| 13.1.3.Mobility |
| 13.1.4.Sensors and Connected Devices |
| 13.1.5.Other |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Production and Maintenance |
| 13.2.2.Irrigation |
| 13.2.3.Supply Chain |
| 13.2.4.Marketplace |
| 13.2.5.Others |
| 13.3. Sector Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Precision Farming |
| 13.3.2.Agriculture |
| 13.3.3.Agrochemicals |
| 13.3.4.Smart Agriculture |
| 13.3.5.Biotechnology |
| 13.3.6.Indoor Farming |
| 13.3.7.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.WayCool |
| 14.2.2.Mankind Agritech |
| 14.2.3.Ken Agritech |
| 14.2.4.Chifu Agritech Private Limited |
| 14.2.5.ARSR Tech |
| 14.2.6.AeroFarms |
| 14.2.7.Apollo Agriculture |
| 14.2.8.Crofarm Agriproducts Pvt Ltd |
| 14.2.9.Conservis |
| 14.2.10.Indigo Ag Inc. |
| 14.2.11.LettUs Grow Ltd. |
| 14.2.12.Pivot Bio |
| 14.2.13.AgBiome Inc. |
| 14.2.14.Ceres Imaging |
| 14.2.15.AgWorld |
| 14.2.16.Hortau |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.