According to a research report published by Spherical Insights & Consulting, the Global Agritech Platform Market Size Expected to Grow from USD 13.2 Billion in 2023 to USD 46.36 Billion by 2033, at a CAGR of 13.3% during the forecast period 2023-2033.

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An agritech platform is a digital tool that uses technology to enhance agriculture in the following ways: boosting sustainability, lowering costs, improving yields, increasing efficiency, and promoting food security. “Agri-tech,” or agricultural technology, is the term used to describe the application of science, technology, and innovation in agriculture. Numerous technologies are used to improve farming practices, increase productivity, sustainability, and efficiency, and address issues facing the global agriculture sector. These technologies include robotics, sensors, drones, artificial intelligence (AI), machine learning, big data analytics, and biotechnology. Furthermore, the demand for agritech platforms that automate procedures, streamline operations, and provide data-based insights is driven by the agriculture industry’s continuous digital transformation. However, the adoption of agritech platforms is severely constrained by high initial investment costs. Because these platforms require infrastructure, software licenses, and technical equipment expenditures, their implementation is costly.

Browse key industry insights spread across 230 pages with 150 Market data tables and figures & charts from the report on the Global Agritech Platform Market Size, Share, and COVID-19 Impact Analysis, By Component (Platform and Services), By Application (Livestock Monitoring, Smart Greenhouses, Precision Farming, and Supply Chain Management), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

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The platforms segment dominates the market with the highest market share through the forecast period.

Based on the component, the global agritech platform market is divided into platforms & services. Among these, the platforms segment dominates the market with the highest market share through the forecast period. The remarkable expansion of the platform category is being driven by the introduction of agritech platforms to boost the income of smallholder farmers. These platforms help farmers boost their productivity and profitability by providing them with access to markets, financial services, and vital resources.

The precision farming segment is expected to grow at the fastest CAGR growth through the forecast period.

Based on the application, the global agritech platform market is divided into livestock monitoring, smart greenhouses, precision farming, and supply chain management. Among these, the precision farming segment is expected to grow at the fastest CAGR growth through the forecast period. The growth of the agritech industry is being driven by collaborations to improve precision farming. Through partnerships between agritech businesses, farmers can access state-of-the-art technologies and expertise for precision agriculture. These collaborations facilitate the creation and application of innovative technologies that assist farmers optimize resource usage, increasing yields, and reducing their environmental effects, such as data analytics platforms, drones, and lot sensors.

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North America is expected to hold the highest share of the global agritech platform market over the predicted timeframe.

North America is estimated to hold the largest share of the global agritech platform market over the predicted timeframe. North America’s market demand is being driven by advancements in technology and the expanding use of precision agriculture. Because of continuous advancements in IoT, Al, robotics, and data analytics, the region is producing modern agritech solutions. The emphasis on precision agriculture techniques, such as GPS-guided equipment and remote sensing, increases the efficiency and productivity of farming operations.Asia Pacific is estimated to grow at the fastest CAGR growth of the global agritech platform market during the forecast period. The need for more advanced farming techniques, government efforts, and the growing use of digital technologies in agriculture are some of the factors propelling this rise. Because of their thriving agricultural industries and growing populations, Asia-Pacific countries are making significant investments in agritech solutions to boost production.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global agritech platform market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

Major vendors in the Global Agritech Platform Market are CropX, Arable, Gamaya, CropIn, Agro-star, Semios, Hortau, Waycool, CropSafe, Xocean, Ninja Cart, Machine Eye, FarmEye, Intello Labs, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development 

• In July 2024, agritech startup Growero Technologies unveiled a pest forecasting technology that uses artificial intelligence (AI), historical weather data, remote sensing data, and satellite data to provide accurate predictions about pests or illnesses.
• In July 2024, Cropin Unveils “Sage,” an agri-intelligence platform driven by AI By transforming agricultural landscapes into grid-based maps, Sage offers data on crops, irrigation, soil, climate, and cultivation methods. The platform uses Google’s Gemini AI model and is built on top of Google Cloud, the company said in a statement.

• In May 2023, Standard Chartered’s fintech, investment, and ventures section, SC Ventures, unveiled Tawi, a B2B agritech platform based in Kenya that enables secure online transactions for Kenya’s smallholder farmers. Tawi aims to provide farmers with clear pricing, efficient supply chain management, and a dependable and sustainable market.

• In September 2022, to transform the agriculture industry, the agritech firm Cropin unveiled its cloud platform.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global agritech platform market based on the below-mentioned segments:

Global Agritech Platform Market, By Component

• Platform
• Services
• Anti-infective Dressing

Global Agritech Platform Market, By Application

• Livestock Monitoring
• Smart Greenhouses
• Precision Farming
• Supply Chain Management

Global Agritech Platform Market, By Regional 

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America 
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa 
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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