United States Agtech Market Size, Share, Trends, Forecast: By Product Type: Precision Farming, Farm Management Software, Smart Greenhouses, Agricultural Drones, Livestock Monitoring, Others; By Application: Precision Agriculture, Livestock Farming, Aquaculture, Forestry, Others; Regional Analysis; Competitive Landscape; 2024-2032

United States Agtech Market Size

The United States agtech market reached around USD 5.57 billion in 2023. The market is estimated to grow at a CAGR of 8.4% between 2024 and 2032 to reach around USD 11.51 billion by 2032.

United States Agtech Market Outlook

The United States agtech market expansion is being fuelled by the increasing average age of farmers in the USA (now 60). As farmers are retiring, advanced technologies such as automation and robotics are being adopted to improve crop productivity and output. The federal government is providing financial assistance to agricultural businesses adopting AI tools. This can substantially transform nearly 2 million farms across the USA.

To feed the global population in 2050, food production must grow by 70% from current levels, and AI solutions are expected to play a critical role in strategizing crop planning in farmlands.  In late 2021, nearly 87% of all agricultural companies were using AI for driving business growth, which indicates the significant potential for agtech in the country over the forecast period.

Advancements in Sensor Technologies and Data Analytics are Some of the Crucial United States Agtech Market Trends

• Precision farming is expected to lead with a CAGR of 9.6% during the forecast period of 2024-2032. Advancements in data analytics and sensor technologies that enhance crop management efficiency are boosting the United States agtech market revenue. 

• Farm management software follows closely with a projected CAGR of 9.0%, reflecting the increasing adoption of digital tools for optimising farm operations. 

• Smart greenhouses are also on the rise, projected to grow at a CAGR of 8.7% between 2024 and 2032. The United States agtech market value is increasing amid innovations in climate control and energy-efficient systems. 

• Agricultural drones are projected to grow at 8.0% between 2024 and 2032. The rising requirement for aerial imaging and precision application capabilities is shaping the United States agtech market dynamics. 

• Livestock monitoring, which includes technologies for tracking animal health and productivity, is expected to see a 7.6% CAGR during the forecast period of 2024-2032. 

• As per the United States agtech market analysis, other emerging agtech products show a moderate growth rate of 6.7%. This diverse range of growth across product types underscores the broadening scope and rapid evolution of the agtech sector in the United States.

The Growing Integration of Advanced Technologies in the Agriculture Sector is Driving the United States Agtech Market Growth

• Precision agriculture is projected to lead with a CAGR of 9.5% between 2024 and 2032. The integration of advanced technologies such as GPS, IoT, and data analytics that improve crop yields and resource management is creating lucrative United States agtech market opportunities. 

• Livestock farming follows closely with a 9.0% CAGR, reflecting the growing adoption of automated systems for animal health monitoring and productivity enhancement. 

• The aquaculture sector is expected to hold a significant portion of the United States agtech market share and grow at an 8.6% CAGR between 2024 and 2032, supported by innovations in water quality monitoring and feed optimisation technologies. 

• Forestry, benefiting from advancements in remote sensing and sustainable management practices, is projected to grow at a rate of 8.1% during the forecast period of 2024-2032. 

• As per the United States agtech industry statistics, other applications of agtech are anticipated to grow at a moderate rate of 7.6%. This diverse range of growth across applications highlights the broadening impact and increasing adoption of agtech innovations across the agricultural landscape in the United States.

United States Agtech Market Regional Analysis

• The Far West leads with a projected CAGR of 9.7% during the forecast period of 2024-2032. The United States agtech demand growth is being fuelled by the significant adoption of agricultural technologies in this region. 

• The Rocky Mountain and Southwest regions also show strong growth potential, with CAGRs of 9.1% and 8.7% respectively. 

• The Southeast follows closely with an 8.3% CAGR. New England and the Mideast are expected to see moderate growth, with CAGRs of 7.8% and 7.2%. 

• The United States agtech market regional insights suggest that the Great Lakes and Plains regions show lower growth projections at 6.3% and 6.7%, reflecting a steady but slower adoption of agtech solutions.

Key Questions Answered in This Report:

• How has the United States agtech market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the United States agtech market?

• What are the key segments within the United States agtech market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the United States agtech market?

• Who are the key players in the United States agtech market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing the United States agtech market globally or regionally?

• How competitive is the United States agtech market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers?

• What are the current trends shaping the United States agtech market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the United States agtech market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behavior trends influencing the United States agtech market?

• How sustainable are current growth rates in the United States agtech market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the United States agtech market, and how do they contribute to overall market growth?

• What are the economic factors influencing the United States agtech market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the United States agtech market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States agtech market?

• What are the regulatory and legal frameworks impacting the United States agtech market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the United States agtech market?

• What are the emerging market trends and niche opportunities within the United States agtech market that stakeholders should be aware of?

• How resilient is the United States agtech market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the United States agtech market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the United States agtech market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States agtech industry.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States agtech market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States agtech market landscape.

Key Highlights of the Report

*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.