Global Top 10 AgriTech Companies Transforming the Industry: Startup Analysis Explore In Details With Spherical Insights & Consulting
RELEASE DATE: Feb 2024 Author: Spherical Insights Request Free Sample
Global Top 10 AgriTech Companies Transforming the Industry: Startup Analysis Explore In Details With Spherical Insights & Consulting
AgriTech Market Overview
The report provides a summary of the global AgriTech sector based on historical data sets (current trends, industry statistics, and emerging companies shaping agriculture's future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global AgriTech sector for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions. Businesses are increasingly important collaborators for organizations attempting to thrive in a rapidly changing environment by delivering innovative solutions in domains such as precision farming, climate-smart practices, and sustainable farming.
The Global Agritech Market Size is projected to exceed USD 75,872.5 million by 2032, growing at a CAGR of 13.1% from 2022 to 2032. Access Report https://www.sphericalinsights.com/reports/agritech-market
The Primary Takeaways
- Agriculture Industry Stats:
The AgriTech sector, which includes 154 193 active enterprises, has shown a 13.1% annual growth rate from 2022 to 2032. Despite this, it maintains a robust workforce of 13.7 million people, demonstrating resilience and capacity for innovation.
- Trends in AgriTech to Watch:
Regenerative farming for the restoration of ecosystems, digital agriculture for data-driven insights, indoor agriculture for controlled environment agriculture (CEA), robotics for farm automation, Internet of Things for connected agriculture, and precision agriculture for focused farm management are some of the major AgriTech trends.
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10 Companies in AgriTech to Watch:
- Micron AgriTech:
- Satyukt:
- RLF AgTech:
- Ekobot:
- Agro Innova:
- Nanobubble AgriTech:
- Insignum AgTech:
- MOVE ON:
- Smart AgriTech:
- VM AgriTech:
Key Trends that are Redefining Agriculture:
Regenerative Agriculture: Regenerative agriculture is becoming more popular as a means of improving biodiversity and soil health. To create a more sustainable agriculture model, businesses are creating methods and goods that aid in soil regeneration, carbon sequestration, and general ecosystem health.
Digital Agriculture: This movement entails incorporating digital technology into every facet of farming. Software platforms are being developed by businesses to improve data analysis, predictive modeling, and farm management. This makes farming operations wiser and more effective.
Agri Robotics: The use of robotics in agriculture is transforming farming practices, from drone-assisted crop monitoring to automated planting and harvesting. Businesses are using robotics to improve farming operations' precision, save labor costs, and boost efficiency.
Precision Agriculture: Precision farming involves the use of technology to manage field variations precisely. Companies are helping farmers to optimize inputs like water and fertilizer, enhancing yields and lowering environmental impact, through satellite imaging, GPS technology, and other techniques.
Indoor Agriculture: Regardless of the outside weather, year-round crop production is possible with indoor, or controlled environment, agriculture. Businesses in this sector are advancing sustainable and scalable farming through innovations in techniques including aeroponics, aquaponics, and hydroponics.
IoT (Internet of Things): Agriculture is evolving into a more data-driven and networked sector thanks to IoT. Farmers can now keep an eye on their livestock and crops in real time thanks to sensors and smart gadgets, which promote resource efficiency and better decision-making.
The Top 10 New AgriTech Businesses
10 growing AgriTech businesses that are shaping the future of the sector are highlighted in this section. These businesses are driving industry changes with their ground-breaking technologies and creative farming methods, not just responding to them. They stand at the forefront of agricultural innovation, from cutting-edge robots to environmentally friendly methods.
1. Micron AgriTech
Year of Establishment: 2018
Origin: USA
Signal Strength of the Business: Very Strong
Worker Distribution: 11-50
How they Operate: Using artificial intelligence, their Micron Kit quickly identifies animal parasites from recordings that are uploaded to a smartphone application. Veterinarians mostly use this technology to quickly and accurately identify parasites such as roundworm and nematode eggs, which speeds up diagnosis in comparison to more conventional lab approaches.
2. Satyukt
Year of Establishment: 2018
Origin: India
Signal Strength of the Business: Very Strong
Worker Distribution: 11-50
How they Operate: The web application Sat4agri from Satyukt examines how farm-level behaviors affect the surrounding area. By monitoring pest and disease trends, it supports input firms and agricultural supply chains. It also helps climate activists evaluate how agricultural practices affect the climate.
3. RLF AgTech
Year of Establishment: 2017
Origin: Australia
Signal Strength of the Business: Very Strong
Worker Distribution: 51-200
How they Operate: Plant Proton Delivery (PPD) technology is being developed by RLF AgTech to increase crop yields, nutritional value, and soil health. It concentrates on sustainable agriculture and the fight against climate change, strengthening plant root systems while lowering the requirement for conventional fertilizer.
4. Ekobot
Year of Establishment: 2018
Origin: Sweden
Signal Strength of the Business: Very Strong
Worker Distribution: 2-10
How they Operate: Sustainable agriculture is advanced by Ekobot's AI-driven autonomous robotic technology, called WEAI. It uses electricity to power weeds on crops like carrots and onions for long hours. To boost yields and lower the need for herbicides, this technology also identifies crop problems.
5. Agro Innova
Year of Establishment: 2017
Origin: Ghana
Signal Strength of the Business: Very Strong
Worker Distribution: 11-50
How they Operate: Agro Innova creates digital technologies that provide market access, inputs, and funding to African smallholder farmers. Its program aims to digitize agriculture and enhance the standard of living in African farming communities by enabling farmers to formalize their operations and make data-driven decisions. These and other farm companies are actively transforming the agricultural sector as they work to further enhance the industry. These organizations have a significant impact on how we manage, approach, and transform farming. They are now essential collaborators for anyone hoping to maintain the forefront of agricultural innovation and sustainability.
6. Nanobubble AgriTech
Year of Establishment: 2020
Origin: New Zealand
Signal Strength of the Business: Strong
Worker Distribution: 2-10
How they Operate: By introducing stable nanobubbles into water, the nanobubble irrigation technique improves plant growth, yield, and disease resistance. It has the potential to increase agricultural productivity and resource efficiency due to its capacity to produce high concentrations of nanobubbles and dissolved oxygen.
7. Insignum AgTech
Year of Establishment: 2018
Origin: USA
Signal Strength of the Business: Very Strong
Worker Distribution: 1-10
How they Operate: With the help of Insignum's Plant Intelligence technology, plants may visually alter their color to indicate particular problems. This invention helps farmers detect and solve agricultural issues more rapidly, increasing crop yields and lowering labor expenses.
8. MOVE ON
Year of Establishment: 2020
Origin: Turkey
Signal Strength of the Business: Very Strong
Worker Distribution: 1-10
How they Operate: With its TASAI automated tractor kit, MOVE ON is a leader in artificial intelligence (AI) and autonomous farming solutions. The firm helps the food industry expand and remain sustainable by increasing agricultural yields through the use of computer vision and sensor fusion.
9. Smart AgriTech
Year of Establishment: 2016
Origin: Sweden
Signal Strength of the Business: Very Strong
Worker Distribution: 2-10
How they Operate: The camera-based Pigxcel device from Smart AgriTech uses artificial intelligence to weigh pigs. It helps farmers by making stress-free daily weigh-ins possible, improving feed intake, slaughter weights, and pig growth monitoring, all while improving animal welfare and job safety.
10. VM AgriTech
Year of Establishment: 2016
Origin: USA
Signal Strength of the Business: Very Strong
Worker Distribution: 2-10
How they Operate: Curezin is a broad-spectrum fungicide that VM AgriTech created to protect agricultural yields, which is beneficial to farmers and crop producers. This novel product has undergone independent studies proving its efficiency against disease resistance in a variety of crops. Its safety and efficacy have been proven by research at Cornell University and the University of Exeter.
A Fast Method for Finding New AgriTech Businesses
- Real-time Data: The Discovery Platform is updated frequently to provide users with up-to-date information on new trends and AgriTech firms. This knowledge is essential for making timely and well-informed decisions.
- Customization: Consumers can tailor the results using sophisticated filtering options to concentrate on particular AgriTech interest areas, such as precision agriculture, sustainable farming methods, or cutting-edge crop management techniques.
- Efficiency: When compared to manual scouting methods, automated scouting technologies greatly reduce time and labor and expedite the research process.
Recent Developments
- In February 2024, to customize the Ekobot intelligent weeding tool for the AutoAgri autonomous implement carrier, Ekobot and Autoagri announced a collaboration. The first objective is to schedule a business demonstration for the third quarter of 2024 with a customer in Norway.
- In February 2024, MOVE ON was held at World Fira to showcase solutions for agricultural AI and autonomy, which are of common interest to investors and agricultural companies.
- In December 2023, Insignum AgTech intends to create more plant features that make use of different hues, like red or blue, to signal various problems that restrict yield, such as insect pests or declining fertility.
- In November 2023, The Karnataka government's flagship program, Grama One Centers, and AgriTech startup Satyukt Analytics partnered to provide farmers in the State with access to satellite-based precision farming services.
- In October 2023, Plant nutrition startup RLF AgTech, backed by technology, is preparing for strong revenue growth, guiding its FY24 sales between $15 and $16 million, exceeding its record revenue of $11.5 million in FY23.
- In September 2023, With the help of finance co-led by ACT VC, Atlantic Bridge, and Yield Lab Europe, Micron AgriTech, a TU Dublin Spin-Out agricultural technology firm, has raised €2.7 million to position itself for future growth in both the Irish and UK markets.
- In August 2023, Large-scale irrigated orchards, cropping, and dairy farms can now receive their oxygen-enhanced water from Nanobubble AgriTech, which was co-founded by Taranaki couple Leon Power and Lauren Oehme.
- In June 2023, AV Ventures LLC, the impact investing division of ACDI/VOCA, closed a new investment in Agro Innova Limited, a Ghanaian AgTech company striving to digitalize agriculture throughout Africa.
Conclusion
In conclusion, technical innovation and the need for sustainability are driving a dynamic state of transition in the AgriTech sector. Executives in the business world need to be flexible, visionary, and willing to take on new challenges and opportunities. Based on the most recent monthly advancements, this sculpture serves as a compass pointing towards a future where the most innovative and adaptive people will thrive. Understanding the AgriTech industry is essential to managing its intricacies and taking advantage of its prospects. Use the platform we offer to stay up to date on the latest advancements and innovations in the AgriTech industry and keep your business innovative. By offering a concise yet comprehensive summary of the most recent developments and trends, The Spherical Insights assists you in locating lucrative joint venture prospects and making educated investment decisions.
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