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Global AgTech Market Size, Share, Trends, Growth, Analysis: By Type: Biotechnology and Biochemical, Big Data and Analytics, Sensors and Connected Devices, Others; By Application: Irrigation, Production and Maintenance, Supply Chain, Marketplace; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global AgTech Market Size
The global AgTech market reached approximately USD 15.49 billion in 2023. The market is projected to grow at a CAGR of 15% between 2024 and 2032, reaching a value of around USD 56.6 billion by 2032.
AgTech Market Outlook
- As per the Economic Survey of India 2022-23, around 1000 Agri-Tech startups have emerged in the country in the last six years.
- Farmtopia, an EU funding program, aims to provide training in Agricultural Digital Solutions (ADSs) to around 64,000 small farms from September 2023 to 2026 to boost sustainable agriculture.
- As per the industry reports, Australia intends to take its agriculture technology sector to 100 billion dollars by 2030.
Global AgTech Market Growth
The growing world population, shortage of labour, and rapid innovations in AgTech solutions are some of the crucial market drivers. The world population is anticipated to reach around 9.7 billion by 2050, which boosts the demand for food production, thereby increasing the demand for smart AgTech solutions.
Government initiatives have been instrumental in expediting the integration of technology and innovation within the agricultural sector. For instance, the introduction of an agriculture accelerator fund in the budget speech of India in 2023 aims to foster the growth of agritech startups led by young entrepreneurs residing in rural areas.
Market players are leveraging seed funding to enhance their technological capabilities. For instance, Sprout Agritech, a venture capital firm for early-stage investments and commercialisation of innovative technologies announced its eighth investment of USD 1 million in Metrovate in May 2024, which is dedicated to transforming the agricultural sector through the creation of advanced precision biostimulants.
AgTech Industry Segmentation
“AgTech Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Biotechnology and Biochemical
- Big Data and Analytics
- Sensors and Connected Devices
- Others
Market Breakup by Application
- Irrigation
- Production and Maintenance
- Supply Chain
- Marketplace
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
AgTech Market Share
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounts for a significant market share owing to the high adoption of farm management tools and programs, the utilisation of tools that measure carbon emissions and optimise farming accordingly, and the rise of agri-tech startups.
Leading Companies in the AgTech Market
The market players are increasing their collaboration activities to create a technologically advanced landscape for the farmers.
- Deere & Company
- Crofarm Agriproducts Pvt Ltd.
- Traction Ag Inc. (Conservis)
- LettUs Grow Ltd.
- AgBiome, Inc.
- Ceres Imaging, Inc.
- Semios Group (Agworld Pty Ltd.)
- Jiva Ag Pte Ltd.
- Koltiva AG
- Harvest Automation
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global AgTech Market Analysis
8.1 Key Industry Highlights
8.2 Global AgTech Historical Market (2018-2023)
8.3 Global AgTech Market Forecast (2024-2032)
8.4 Global AgTech Market by Type
8.4.1 Biotechnology and Biochemical
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Big Data and Analytics
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Sensors and Connected Devices
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global AgTech Market by Application
8.5.1 Irrigation
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Production and Maintenance
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Supply Chain
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Marketplace
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global AgTech Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America AgTech Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe AgTech Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific AgTech Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America AgTech Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa AgTech Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Deere & Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Crofarm Agriproducts Pvt Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Traction Ag Inc. (Conservis)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 LettUs Grow Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 AgBiome, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Ceres Imaging, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Semios Group (Agworld Pty Ltd.)
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Jiva Ag Pte Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Koltiva AG
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Harvest Automation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global AgTech Market: Key Industry Highlights, 2018 and 2032
2. Global AgTech Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global AgTech Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global AgTech Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global AgTech Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global AgTech Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global AgTech Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America AgTech Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America AgTech Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe AgTech Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe AgTech Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific AgTech Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific AgTech Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America AgTech Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America AgTech Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa AgTech Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa AgTech Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global AgTech Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 15.49 billion.
The market is estimated to grow at a CAGR of 15% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 56.6 billion by 2032.
The market is being driven due to growing world population, shortage of labour, and rapid innovations in AgTech solutions.
The key trends aiding the market include the rise of data-driven farming, the growth of regenerative agriculture, and the evolution of the agri-business model.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Based on type, market segmentations include biotechnology and biochemical, big data and analytics, and sensors and connected devices, among others.
Different applications are irrigation, production and maintenance, supply chain, and marketplace, among others.
The major players in the market are Deere & Company, Crofarm Agriproducts Pvt Ltd., Traction Ag Inc. (Conservis), LettUs Grow Ltd., AgBiome, Inc., Ceres Imaging, Inc., Semios Group (Agworld Pty Ltd.), Jiva Ag Pte Ltd., Koltiva AG, and Harvest Automation, among others.
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