The agritech market in North America is expected to grow from US$ 6,731.3 million in 2019 to US$ 16,005.2 million by 2027; it is estimated to grow at a CAGR of 12.2% from 2020 to 2027.
The Business Market Insights provides you regional research analysis on “North America Agritech Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the North America Agritech market during the forecast period, i.e., 2020–2027.
Agriculture is anticipated to evolve as a high-tech sector in the coming years, wherein the performance of interconnected systems would be assisted by artificial intelligence (AI) and Big Data facilities. The resulting systems would converge into a single unit, combining farm machinery and management, starting from seeding to production forecasting. Personnel employing Big Data and analytics must consider concrete and specific characteristics of farming to extract valuable information and take effective decisions accordingly. The AI and Big data technologies uses sensors to record weather conditions, crop efficiency, and soil structure. Both Big Data and AI have a potential to optimize productivity and crop management.
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The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Agritech market. The researcher provides an extensive analysis of theNorth America Agritech market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
Major key players covered in this report:
- AgBiome, Inc.
- ARSR Tech
- Ceres Imaging
- Indigo Ag, Inc.
- Pivot Bio
Agriculture plays a crucial role in the economic growth of some of the largest nations across North America which include the US, Canada, mexico among many others. With continuously growing population and rising demand of agricultural output to meet the increasing demand, the investments in agriculture technology solutions have been growing at an impressive pace. Agritech refers to a market ecosystem that consist of companies which are using and developing different technologies to enhance their agriculture products or services offerings. These advanced offerings are aimed to increase overall yield, efficiency, cost savings, and profitability of farmers and agriculture companies across the value chain. Some of the key technologies that are penetrating the North America agriculture sector include data analytics, artificial intelligence, internet-of-things, machine learning, automation systems, software as a service solution among many others. In addition to this, the evolving business & revenue models in agriculture sector, market consolidation with bigger players acquiring smaller players to achieve economies of scale and vertical integration, trend of precision farming, and rising investments in agritech start-ups are some of the key factors that are fueling the growth of North America agritech market. Agri inputs, precision agriculture, farm management software, supply chain tech, quality management and traceability are some of the key growth areas that are driving the technology adoption in North America agriculture sector. Also Various countries witnessing rise in agriculture sector is a major factor driving the North America agritech market.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Agritech market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the North America Agritech market segments and regions.
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The research on the North America Agritech market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the North America Agritech market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America Agritech market.
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