PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1372059
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1372059
Agriculture Technologies Market Forecasts to 2030 - Global Analysis By Offering, Solution, Application and by Geography
According to Stratistics MRC, the Global Agriculture Technologies Market is accounted for $23.65 billion in 2023 and is expected to reach $63.78 billion by 2030 growing at a CAGR of 15.2% during the forecast period. The term "agriculture technologies," usually referred to as "agtech" or "agricultural tech," refers to a broad range of creative approaches that combine biological, mechanical, and digital systems. It refers to the area which covers the creation, use, and implementation of cutting-edge agricultural technologies and solutions. These technologies are intended to improve crop production, animal management, and farm operations, as well as productivity, efficiency, sustainability, and profitability. To gather data and assess field conditions, this entails the use of sensors, GPS technology, drones, and other instruments.
Market Dynamics:
Driver:
Government support with new methods in farming
Sustainable agricultural methods that reduce environmental effects are becoming more and more in demand. Agriculture technology provides sustainable agriculture solutions, such as organic farming methods, integrated pest control, and soil health monitoring, which help reduce the use of chemicals, enhance resource management, and have a smaller impact on the environment. Moreover, numerous governments provide financial incentives, grants, and subsidies to promote the use of agriculture technology solutions, which further fuels the market's expansion.
Restraint:
Less skilled farmer
Smallholder farmers encounter difficulties at every stage of the agricultural process, from crop planning and input acquisition to harvest, processing, and product sales. Insufficient knowledge is a major cause of many of these difficulties. Financial illiteracy and the inability to supply the information required by financial institutions for credit analysis and loan assessment may make it more difficult for smallholder farmers to get better credit facilities. This is expected to slow market expansion.
Opportunity:
Increased global use of technology in agriculture
Over time, it has been thought that agricultural development practices use up natural resources more quickly than they can be replenished. The "natural" carrying capacity of the land is under strain to meet the demand for food and shelter brought on by the exponential expansion in the human population. It is reasonable to predict that the agro ecosystem will face increased demands as a result of the continued growth of the human population. Therefore, technology plays a vital role in agricultural and sustainable development and will continue to do so in the future.
Threat:
High expenses with poor internet connection
Agriculture technology solutions frequently involve a substantial upfront investment in infrastructure, software, and hardware. Particularly for small-scale farmers who do not have the financial resources to invest in cutting-edge technologies, the high cost of adoption might be a substantial barrier. Additionally, farmers may suffer as a result of factors such as poor internet connectivity, inadequate infrastructure, and a lack of technical skills that prevent the widespread use of Agriculture technology.
COVID-19 Impact:
The market for agriculture technologies has been negatively impacted by the COVID-19 epidemic in a number of ways. The investments and funding have decreased as a result of the economic uncertainties brought on by the pandemic. The amount of funding available for Agriculture technology businesses and projects has decreased as venture capital firms and investors have become more risk-averse and have turned their attention to more stable industries. This has affected the industry's rate of innovation. Furthermore, governments all around the world during epidemic focused their efforts on improving public health and reviving the economy but the financing and support for agricultural development programs, especially those using agricultural technologies, have decreased as a result of this change in priorities.
The livestock monitoring segment is expected to be the largest during the forecast period
During the forecast period, the livestock monitoring segment will projected to be the largest. Farmers may track their animals even when they are not physically present thanks to the remote monitoring features that are frequently included in livestock monitoring solutions. Farmers can quickly respond to emergencies, keep an eye on crucial events like calving or lambing, and safeguard the welfare of their livestock via mobile applications or web-based platforms. It provides enormous volumes of data that may be studied to learn more about management techniques, health patterns, and animal performance. Tools for advanced analytics and data management assist farmers in making data-driven decisions, streamlining processes, and raising output in general. Additionally, benchmarking and industry-wide research can benefit from aggregated and anonymized data from many farms.
The Software segment is expected to have the highest CAGR during the forecast period
Over the projection period, the segment for software is anticipated to have the greatest CAGR.
To optimize farming methods at the field level, agriculture software uses data from different sources, including satellite imaging, drones, sensors, and GPS. With the aid of these software programs, farmers may produce exact variable rate maps for irrigation, fertilizer application, and seeding. Precision agricultural software enables farmers to improve resource allocation, lower input costs, and increase yields by analyzing data on soil composition, moisture levels, and crop health. Moreover, these software programs increase food safety, decrease waste, increase supply chain visibility, and facilitate effective logistics management.
Region with largest share:
The Europe is expected to have largest share due to the expansion of agricultural technology, which is enhanced by a surge in the number of new companies developing agricultural and food innovations, high adoption rates and crowd sourcing for various indoor agricultural projects. Moreover, the market for agricultural technologies in Europe is a rapidly growing sector that includes a wide range of cutting-edge solutions designed to increase agricultural production, efficiency, and sustainability. Additionally, European governments have promoted the adoption of cutting-edge technologies through funding initiatives, subsidies, and incentives. Therefore, these programs aim to promote technology transfer, assist research and development, and hasten the implementation of agricultural innovations in the region.
Region with highest CAGR:
The Asia Pacific is projected to have the highest CAGR over the forecast period, due to the result of population increase, rising disposable income, and the use of various technologies in the agriculture and food sectors. Moreover, startups and innovation centers focused on agricultural technology are growing in the Asia-Pacific area. Hence, these firms focus on developing regionally tailored solutions that deal with the unique constraints posed by the local climate, smallholder farming, tropical crops, and other circumstances which results in the expansion of market growth.
Key players in the market:
Some of the key players in Agriculture Technologies Market include: AG Leader Technology, AGCO Corporation, Agjunction Inc., Certhon, Cropmetrics LLC, Deere & Company, Dickey-John Corporation, Nexus Corporation, Precision Planting, Inc., Raven Industries, SST Development Group, Inc., Teejet Technologies, Topcon Positioning Systems, Inc., Trimble, Inc.
Key Developments:
In January 2023, John Deere has launched two battery-powered, walk-behind greens mowers and announced further hybrid innovations to its existing product range.
In February 2022, Deere & Company is expanding its U.S. footprint and technology operations with a new office in Austin, Texas. The new location enables Deere to further strengthen its technology capabilities and attract talent interested in solving some of the world's most pressing challenges - including feeding a growing population.
Offerings Covered:
- Software
- Services
- Hardware
Solutions Covered:
- Supervisory control and Data Acquisition
- Smart Water Management
- Network Management
- Agriculture Asset Management
- Logistics and Supply Chain Management
Applications Covered:
- Live Stock Monitoring
- Precision Farming
- Fish Farming
- Smart Greenhouse
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Agriculture Technologies Market, By Offering
- 5.1 Introduction
- 5.2 Software
- 5.3 Services
- 5.4 Hardware
6 Global Agriculture Technologies Market, By Solution
- 6.1 Introduction
- 6.2 Supervisory control and Data Acquisition
- 6.3 Smart Water Management
- 6.4 Network Management
- 6.5 Agriculture Asset Management
- 6.6 Logistics and Supply Chain Management
7 Global Agriculture Technologies Market, By Application
- 7.1 Introduction
- 7.2 Live Stock Monitoring
- 7.3 Precision Farming
- 7.4 Fish Farming
- 7.5 Smart Greenhouse
- 7.6 Other Applications
8 Global Agriculture Technologies Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 AG Leader Technology
- 10.2 AGCO Corporation
- 10.3 Agjunction, Inc.
- 10.4 Certhon
- 10.5 Cropmetrics LLC
- 10.6 Deere & Company
- 10.7 Dickey-John Corporation
- 10.8 Nexus Corporation
- 10.9 Precision Planting, Inc.
- 10.10 Raven Industries
- 10.11 SST Development Group, Inc.
- 10.12 Teejet Technologies
- 10.13 Topcon Positioning Systems, Inc.
- 10.14 Trimble, Inc.
List of Tables
- Table 1 Global Agriculture Technologies Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Agriculture Technologies Market Outlook, By Offering (2021-2030) ($MN)
- Table 3 Global Agriculture Technologies Market Outlook, By Software (2021-2030) ($MN)
- Table 4 Global Agriculture Technologies Market Outlook, By Services (2021-2030) ($MN)
- Table 5 Global Agriculture Technologies Market Outlook, By Hardware (2021-2030) ($MN)
- Table 6 Global Agriculture Technologies Market Outlook, By Solution (2021-2030) ($MN)
- Table 7 Global Agriculture Technologies Market Outlook, By Supervisory control and Data Acquisition (2021-2030) ($MN)
- Table 8 Global Agriculture Technologies Market Outlook, By Smart Water Management (2021-2030) ($MN)
- Table 9 Global Agriculture Technologies Market Outlook, By Network Management (2021-2030) ($MN)
- Table 10 Global Agriculture Technologies Market Outlook, By Agriculture Asset Management (2021-2030) ($MN)
- Table 11 Global Agriculture Technologies Market Outlook, By Logistics and Supply Chain Management (2021-2030) ($MN)
- Table 12 Global Agriculture Technologies Market Outlook, By Application (2021-2030) ($MN)
- Table 13 Global Agriculture Technologies Market Outlook, By Live Stock Monitoring (2021-2030) ($MN)
- Table 14 Global Agriculture Technologies Market Outlook, By Precision Farming (2021-2030) ($MN)
- Table 15 Global Agriculture Technologies Market Outlook, By Fish Farming (2021-2030) ($MN)
- Table 16 Global Agriculture Technologies Market Outlook, By Smart Greenhouse (2021-2030) ($MN)
- Table 17 Global Agriculture Technologies Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 18 North America Agriculture Technologies Market Outlook, By Country (2021-2030) ($MN)
- Table 19 North America Agriculture Technologies Market Outlook, By Offering (2021-2030) ($MN)
- Table 20 North America Agriculture Technologies Market Outlook, By Software (2021-2030) ($MN)
- Table 21 North America Agriculture Technologies Market Outlook, By Services (2021-2030) ($MN)
- Table 22 North America Agriculture Technologies Market Outlook, By Hardware (2021-2030) ($MN)
- Table 23 North America Agriculture Technologies Market Outlook, By Solution (2021-2030) ($MN)
- Table 24 North America Agriculture Technologies Market Outlook, By Supervisory control and Data Acquisition (2021-2030) ($MN)
- Table 25 North America Agriculture Technologies Market Outlook, By Smart Water Management (2021-2030) ($MN)
- Table 26 North America Agriculture Technologies Market Outlook, By Network Management (2021-2030) ($MN)
- Table 27 North America Agriculture Technologies Market Outlook, By Agriculture Asset Management (2021-2030) ($MN)
- Table 28 North America Agriculture Technologies Market Outlook, By Logistics and Supply Chain Management (2021-2030) ($MN)
- Table 29 North America Agriculture Technologies Market Outlook, By Application (2021-2030) ($MN)
- Table 30 North America Agriculture Technologies Market Outlook, By Live Stock Monitoring (2021-2030) ($MN)
- Table 31 North America Agriculture Technologies Market Outlook, By Precision Farming (2021-2030) ($MN)
- Table 32 North America Agriculture Technologies Market Outlook, By Fish Farming (2021-2030) ($MN)
- Table 33 North America Agriculture Technologies Market Outlook, By Smart Greenhouse (2021-2030) ($MN)
- Table 34 North America Agriculture Technologies Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 35 Europe Agriculture Technologies Market Outlook, By Country (2021-2030) ($MN)
- Table 36 Europe Agriculture Technologies Market Outlook, By Offering (2021-2030) ($MN)
- Table 37 Europe Agriculture Technologies Market Outlook, By Software (2021-2030) ($MN)
- Table 38 Europe Agriculture Technologies Market Outlook, By Services (2021-2030) ($MN)
- Table 39 Europe Agriculture Technologies Market Outlook, By Hardware (2021-2030) ($MN)
- Table 40 Europe Agriculture Technologies Market Outlook, By Solution (2021-2030) ($MN)
- Table 41 Europe Agriculture Technologies Market Outlook, By Supervisory control and Data Acquisition (2021-2030) ($MN)
- Table 42 Europe Agriculture Technologies Market Outlook, By Smart Water Management (2021-2030) ($MN)
- Table 43 Europe Agriculture Technologies Market Outlook, By Network Management (2021-2030) ($MN)
- Table 44 Europe Agriculture Technologies Market Outlook, By Agriculture Asset Management (2021-2030) ($MN)
- Table 45 Europe Agriculture Technologies Market Outlook, By Logistics and Supply Chain Management (2021-2030) ($MN)
- Table 46 Europe Agriculture Technologies Market Outlook, By Application (2021-2030) ($MN)
- Table 47 Europe Agriculture Technologies Market Outlook, By Live Stock Monitoring (2021-2030) ($MN)
- Table 48 Europe Agriculture Technologies Market Outlook, By Precision Farming (2021-2030) ($MN)
- Table 49 Europe Agriculture Technologies Market Outlook, By Fish Farming (2021-2030) ($MN)
- Table 50 Europe Agriculture Technologies Market Outlook, By Smart Greenhouse (2021-2030) ($MN)
- Table 51 Europe Agriculture Technologies Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 52 Asia Pacific Agriculture Technologies Market Outlook, By Country (2021-2030) ($MN)
- Table 53 Asia Pacific Agriculture Technologies Market Outlook, By Offering (2021-2030) ($MN)
- Table 54 Asia Pacific Agriculture Technologies Market Outlook, By Software (2021-2030) ($MN)
- Table 55 Asia Pacific Agriculture Technologies Market Outlook, By Services (2021-2030) ($MN)
- Table 56 Asia Pacific Agriculture Technologies Market Outlook, By Hardware (2021-2030) ($MN)
- Table 57 Asia Pacific Agriculture Technologies Market Outlook, By Solution (2021-2030) ($MN)
- Table 58 Asia Pacific Agriculture Technologies Market Outlook, By Supervisory control and Data Acquisition (2021-2030) ($MN)
- Table 59 Asia Pacific Agriculture Technologies Market Outlook, By Smart Water Management (2021-2030) ($MN)
- Table 60 Asia Pacific Agriculture Technologies Market Outlook, By Network Management (2021-2030) ($MN)
- Table 61 Asia Pacific Agriculture Technologies Market Outlook, By Agriculture Asset Management (2021-2030) ($MN)
- Table 62 Asia Pacific Agriculture Technologies Market Outlook, By Logistics and Supply Chain Management (2021-2030) ($MN)
- Table 63 Asia Pacific Agriculture Technologies Market Outlook, By Application (2021-2030) ($MN)
- Table 64 Asia Pacific Agriculture Technologies Market Outlook, By Live Stock Monitoring (2021-2030) ($MN)
- Table 65 Asia Pacific Agriculture Technologies Market Outlook, By Precision Farming (2021-2030) ($MN)
- Table 66 Asia Pacific Agriculture Technologies Market Outlook, By Fish Farming (2021-2030) ($MN)
- Table 67 Asia Pacific Agriculture Technologies Market Outlook, By Smart Greenhouse (2021-2030) ($MN)
- Table 68 Asia Pacific Agriculture Technologies Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 69 South America Agriculture Technologies Market Outlook, By Country (2021-2030) ($MN)
- Table 70 South America Agriculture Technologies Market Outlook, By Offering (2021-2030) ($MN)
- Table 71 South America Agriculture Technologies Market Outlook, By Software (2021-2030) ($MN)
- Table 72 South America Agriculture Technologies Market Outlook, By Services (2021-2030) ($MN)
- Table 73 South America Agriculture Technologies Market Outlook, By Hardware (2021-2030) ($MN)
- Table 74 South America Agriculture Technologies Market Outlook, By Solution (2021-2030) ($MN)
- Table 75 South America Agriculture Technologies Market Outlook, By Supervisory control and Data Acquisition (2021-2030) ($MN)
- Table 76 South America Agriculture Technologies Market Outlook, By Smart Water Management (2021-2030) ($MN)
- Table 77 South America Agriculture Technologies Market Outlook, By Network Management (2021-2030) ($MN)
- Table 78 South America Agriculture Technologies Market Outlook, By Agriculture Asset Management (2021-2030) ($MN)
- Table 79 South America Agriculture Technologies Market Outlook, By Logistics and Supply Chain Management (2021-2030) ($MN)
- Table 80 South America Agriculture Technologies Market Outlook, By Application (2021-2030) ($MN)
- Table 81 South America Agriculture Technologies Market Outlook, By Live Stock Monitoring (2021-2030) ($MN)
- Table 82 South America Agriculture Technologies Market Outlook, By Precision Farming (2021-2030) ($MN)
- Table 83 South America Agriculture Technologies Market Outlook, By Fish Farming (2021-2030) ($MN)
- Table 84 South America Agriculture Technologies Market Outlook, By Smart Greenhouse (2021-2030) ($MN)
- Table 85 South America Agriculture Technologies Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 86 Middle East & Africa Agriculture Technologies Market Outlook, By Country (2021-2030) ($MN)
- Table 87 Middle East & Africa Agriculture Technologies Market Outlook, By Offering (2021-2030) ($MN)
- Table 88 Middle East & Africa Agriculture Technologies Market Outlook, By Software (2021-2030) ($MN)
- Table 89 Middle East & Africa Agriculture Technologies Market Outlook, By Services (2021-2030) ($MN)
- Table 90 Middle East & Africa Agriculture Technologies Market Outlook, By Hardware (2021-2030) ($MN)
- Table 91 Middle East & Africa Agriculture Technologies Market Outlook, By Solution (2021-2030) ($MN)
- Table 92 Middle East & Africa Agriculture Technologies Market Outlook, By Supervisory control and Data Acquisition (2021-2030) ($MN)
- Table 93 Middle East & Africa Agriculture Technologies Market Outlook, By Smart Water Management (2021-2030) ($MN)
- Table 94 Middle East & Africa Agriculture Technologies Market Outlook, By Network Management (2021-2030) ($MN)
- Table 95 Middle East & Africa Agriculture Technologies Market Outlook, By Agriculture Asset Management (2021-2030) ($MN)
- Table 96 Middle East & Africa Agriculture Technologies Market Outlook, By Logistics and Supply Chain Management (2021-2030) ($MN)
- Table 97 Middle East & Africa Agriculture Technologies Market Outlook, By Application (2021-2030) ($MN)
- Table 98 Middle East & Africa Agriculture Technologies Market Outlook, By Live Stock Monitoring (2021-2030) ($MN)
- Table 99 Middle East & Africa Agriculture Technologies Market Outlook, By Precision Farming (2021-2030) ($MN)
- Table 100 Middle East & Africa Agriculture Technologies Market Outlook, By Fish Farming (2021-2030) ($MN)
- Table 101 Middle East & Africa Agriculture Technologies Market Outlook, By Smart Greenhouse (2021-2030) ($MN)
- Table 102 Middle East & Africa Agriculture Technologies Market Outlook, By Other Applications (2021-2030) ($MN)
