Agritech Market Size, Share & Trends Analysis Report By Type (Biotechnology and Biochemicals, Big Data and Analytics, Sensors and Connected Devices, Mobility) and Application (Irrigation, Production and Maintenance, Supply Chain, Marketplace), By Region, And By Segment Forecasts, 2025-2034

Global Agritech Market Size is valued at USD 28.2 Bn in 2024 and is predicted to reach USD 106.4 Bn by the year 2034 at a 14.4% CAGR during the forecast period for 2025-2034.

Agritech technologies strive to enhance the sustainability, resilience, and profitability of agriculture while simultaneously addressing the worldwide demand for food. They are implementing revolutionary alterations in farming techniques, supply chain administration, and agricultural sustainability on a global scale, so facilitating the modernization and progress of the agricultural sector.

Governments incentivize Agritech to support this trend, while consumers' emphasis on food safety and transparency further propels the market forward. Additionally, emerging business models like farm management software contribute to this revolution in agriculture, promising both growth and sustainability. However, despite these advancements, challenges persist, including limited rural connectivity, interoperability issues, high initial costs, regulatory barriers, and concerns regarding data privacy and security.

Moreover, addressing these hurdles is vital for widespread adoption and innovation in Agritech. Governments must play a pivotal role in refining regulatory frameworks to encourage innovation and investment while also implementing cost-effective models and financial incentives to make Agritech solutions accessible to a broader spectrum of farmers, especially those in developing regions.

Competitive Landscape

Some Major Key Players In The Agritech Market:

• AeroFarms
• AgBiome Inc.
• AgWorld
• Apollo Agriculture
• ARSR Tech
• Ceres Imaging
• Chifu Agritech Private Limited
• Conservis
• Crofarm Agriproducts Pvt Ltd
• Farmers Business Network
• Harvest Automation
• Hortau
• Indigo Ag Inc.
• Ken Agritech
• LettUs Grow Ltd.
• Mankind Agritech
• Pivot Bio
• WayCool
• Other Prominent Players

Market Segmentation:

The Agritech market is segmented on the basis of type and application. Based on type, the market is segmented as biotechnology and biochemical, big data and analytics, sensors and connected devices, 8mobility and other types. As per the application, the market is segmented into irrigation, production and maintenance, supply chain, marketplace, and others.

Based On Type, The Big Data and Analytics Segment Is Accounted As A Major Contributor In The Agritech Market.

The Big Data and Analytics segment dominates the Agritech market primarily due to its pivotal role in transforming agricultural practices. Through the analysis of extensive datasets collected from diverse sources like sensors, satellites, and machinery, farmers can make data-driven decisions that optimize crop management, reduce resource consumption, and mitigate risks. Precision agriculture, facilitated by big data analytics, allows for targeted interventions in specific areas of fields based on real-time insights, enhancing yields and minimizing environmental impact. Furthermore, the application of big data analytics extends to optimizing the agricultural supply chain, from production to distribution, by leveraging data on factors such as demand forecasts, weather conditions, and market trends to streamline operations and minimize waste.

Additionally, predictive maintenance algorithms powered by big data analytics ensure the efficient operation of agricultural equipment, minimizing downtime and maximizing productivity. Moreover, big data analytics provide valuable insights into market dynamics, enabling farmers to make informed decisions regarding crop selection, pricing strategies, and risk management. In essence, the dominance of the Big Data and Analytics segment underscores its indispensable role in revolutionizing agriculture and fostering efficiency, sustainability, and profitability throughout the industry.

The Irrigation Segment Has Witnessed Rapid Growth.

The irrigation segment holds the largest share of the market. Firstly, irrigation is a fundamental aspect of agriculture, essential for sustaining crop growth and ensuring optimal yields, particularly in regions with irregular rainfall patterns or limited access to water resources. As such, the demand for efficient irrigation solutions remains consistently high across diverse agricultural landscapes. The increasing recognition of water shortage and the necessity for sustainable water management techniques have driven the implementation of sophisticated irrigation systems. These technologies encompass precision irrigation systems, drip irrigation, and sensor-based irrigation controllers. They allow farmers to supply an optimal amount of water directly to the root zone of crops, reducing water wastage and maximizing water use efficiency.

In The Region, The North American Agritech Market Holds A Significant Revenue Share.

North American region is home to leading Agritech companies and research institutions pioneering advancements in areas such as precision agriculture, drone technology, genetic engineering, and data analytics. Farmers in North America leverage cutting-edge technologies to optimize crop yields, reduce input costs, and minimize environmental impact. Additionally, supportive regulatory frameworks and robust infrastructure facilitate the adoption of Agritech solutions. However, challenges such as rural connectivity issues, data privacy concerns, and the need for skilled labour persist, driving ongoing innovation and collaboration within the Agritech ecosystem.

Recent Developments

• In July 2022, ADM and FBN (Farmers Business Network® FBN®) signed an agreement to broaden the accessibility of FBN's state-of-the-art digital farm business management platform, Gradable, to ADM's network of farmers throughout North America. This will offer 55,000 growers a comprehensive digital solution for the management of their enterprises and the measurement of sustainable production data.

Agritech Market Report Scope