sales@businessmarketinsights.com     UK: +442081254005
   

North America Agritech Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Biotechnology and Biochemicals, Big Data & Analytics, Sensors and Connected Devices, Mobility, and Other Types) and Application (Irrigation, Production and Maintenance, Supply Chain, and Marketplace)

Code: TIPRE00020905 | Pages: 86 | Industry: Technology, Media and Telecommunications | Date: Mar 2021
Covid

Market Introduction

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.  

COVID-19 is having a very devastating impact over the North America region. North America is an important market for the growth of agritech products owing to the presence of developed countries such as the US and Canada in this region. The high number of COVID cases have resulted in a negative impact on country’s and region’s economy and there has been a decline business activities and growth of various industries operating in the region. The COVID-19 pandemic has been a major for all the farmers in the region, threatening access to agricultural labor and complexing worldwide supply chains. However, for indoor farming, it has offered an opportunity. In vertical farming, the batches of crops can be watered individually and ignited with the help of smart agriculture products, enabling them to be grown year-round with less resource. Nevertheless, the factory and business shutdowns across the US, Canada, and Mexico negatively impacted the sales of agritech products, such as sensors, agribots, and many more. COVID-19 has had a severe impact on logistics operations, transportation, and trade activity. North America is home to a large number of manufacturing and technology companies. Thus, the coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. However, the impact of COVID-19 is short-term; it is likely to decrease in the coming years.

Market Overview and Dynamics

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. In the era of technological advancements, an enormous amount of data is being generated on an everyday basis. 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. 

Key Market Segments

In terms of type, the biotechnology and biochemicals segment accounted for the largest share of the North America agritech market in 2019. Based on application, production and maintenance segment is expected to be the fastest growing segment during the forecast period; which is from 2017 to 2027.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the agritech market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AeroFarms; AgBiome, Inc.; ARSR Tech; Ceres Imaging; Conservis; Indigo Ag, Inc.; Pivot Bioare.

Reasons to buy report

  • To understand the North America agritech market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for North America agritech market
  • Efficiently plan M&A and partnership deals in North America agritech market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America agritech market
  • Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.

North America Agritech Market Segmentation

North America Agritech Market - By Type

  • Biotechnology and Biochemicals
  • Big Data & Analytics
  • Sensors and Connected Devices
  • Mobility
  • Other Types

North America Agritech Market - By Application

  • Irrigation
  • Production and Maintenance
  • Supply Chain
  • Marketplace

North America Agritech Market - By Country

  • US
  • Canada
  • Mexico

North America Agritech Market - Company Profiles

  • AeroFarms
  • AgBiome, Inc.
  • ARSR Tech
  • Ceres Imaging
  • Conservis
  • Indigo Ag, Inc.
  • Pivot Bio
 

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        North America Agritech Market – By Type

1.3.2        North America Agritech Market – By Application

1.3.3        North America Agritech Market- By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           North America Agritech Market Landscape

4.1         Market Overview

4.2         North America PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           North America Agritech Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Various Countries Witnessing Rise in Agriculture Sector

5.1.2        Rising Investments in Advanced Agriculture Technologies

5.2         Market Restraints

5.2.1        High Initial Costs, Low Awareness

5.3         Market Opportunities

5.3.1        Rising Usage of Big Data

5.4         Future Trend

5.4.1        Precision Farming Implementation Escalating

5.5         Impact Analysis of Drivers and Restraints

6.           Agritech Market – North America Analysis

6.1         North America Agritech Market Overview

6.2         North America Agritech Market –Revenue and Forecast to 2027 (US$ Million)

7.           North America Agritech Market Analysis – By Type

7.1         Overview

7.2         North America Agritech Market, by Type (2019 and 2027)

7.3         Biotechnology and Biochemicals

7.3.1        Overview

7.3.2        Biotechnology and Biochemicals: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

7.4         Big Data and Analytics

7.4.1        Overview

7.4.2        Big Data and Analytics: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

7.5         Sensors and Connected Devices

7.5.1        Overview

7.5.2        Sensors and Connected Devices: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

7.6         Mobility

7.6.1        Overview

7.6.2        Mobility: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

7.7         Other Types

7.7.1        Overview

7.7.2        Other Types: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

8.           North America Agritech Market Analysis – By Application

8.1         Overview

8.2         North America Agritech Market, by Application (2019 and 2027)

8.3         Irrigation

8.3.1        Overview

8.3.2        Irrigation: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

8.4         Production and Maintenance

8.4.1        Overview

8.4.2        Production and Maintenance: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

8.5         Supply Chain

8.5.1        Overview

8.5.2        Supply Chain: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

8.6         Marketplace

8.6.1        Overview

8.6.2        Marketplace: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

9.           North America Agritech Market – Country Analysis

9.1         Overview

9.1.1        North America: Agritech Market, by Key Country

9.1.1.1          US: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.1.1          US: Agritech Market, by Type

9.1.1.1.2          US: Agritech Market, by Application

9.1.1.2          Canada: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.2.1          Canada: Agritech Market, by Type

9.1.1.2.2          Canada: Agritech Market, by Application

9.1.1.3          Mexico: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.3.1          Mexico: Agritech Market, by Type

9.1.1.3.2          Mexico: Agritech Market, by Application

10.        North America Agritech Market- COVID-19 Impact Analysis

10.1      North America

11.        Industry Landscape

11.1      Overview

12.        Company Profiles

12.1      ARSR Tech

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      AeroFarms

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Conservis

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      Indigo Ag, Inc

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      Pivot Bio

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      AgBiome, Inc.

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      Ceres Imaging

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

13.        Appendix

13.1      About The Insight Partners

             13.2      Word Index

LIST OF TABLES

Table 1.             North America Agritech Market – Revenue, and Forecast to 2027 (US$ Million)

Table 2.             US: Agritech Market, by Type –Revenue and Forecast to 2027 (US$ Million)

Table 3.             US: Agritech Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 4.             Canada: Agritech Market, by Type – Revenue and Forecast to 2027 (US$ Million)

Table 5.             Canada: Agritech Market, by Application – Revenue and Forecast to 2027 (US$ Million)

Table 6.             Mexico: Agritech Market, by Type – Revenue and Forecast to 2027 (US$ Million)

Table 7.             Mexico: Agritech Market, by Application – Revenue and Forecast to 2027 (US$ Million)

Table 8.               List of Abbreviation

LIST OF FIGURES

Figure 1.           North America Agritech Market Segmentation

Figure 2.           North America Agritech Market Segmentation – By Country

Figure 3.           North America Agritech Market Overview

Figure 4.           Biotechnology and Biochemicals Segment Held the Largest Market Share in 2019

Figure 5.           Production and Maintenance Application Held the Largest Market Share in 2019

Figure 6.           US was the Largest Revenue Contributor in 2019

Figure 7.           North America – PEST Analysis

Figure 8.           North America Agritech Market– Ecosystem Analysis

Figure 9.           Expert Opinion

Figure 10.        North America Agritech Market: Impact Analysis of Drivers and Restraints

Figure 11.        North America Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 12.        North America Agritech Market Revenue Share, by Type (2019 and 2027)

Figure 13.        North America Biotechnology and Biochemicals: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14.        North America Big Data and Analytics: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 15.        North America Sensors and Connected Devices: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 16.        North America Mobility: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 17.        North America Other Types: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18.        North America Agritech Market Revenue Share, by Application (2019 and 2027)

Figure 19.        North America Irrigation: Agritech – Revenue and Forecast to 2027 (US$ Million)

Figure 20.        North America Production and Maintenance: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 21.        North America Supply Chain: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 22.        North America Marketplace: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 23.        North America: Agritech Market Revenue Share, by Key Country (2019 and 2027)

Figure 24.        US: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 25.        Canada: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 26.        Mexico: Agritech Market – Revenue and Forecast to 2027 (US$ Million)

Figure 27.           Impact of COVID-19 Pandemic in North American Country Markets  

  1. AeroFarms
  2. AgBiome, Inc.
  3. ARSR Tech
  4. Ceres Imaging
  5. Conservis
  6. Indigo Ag, Inc.
  7. Pivot Bio
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America agritech market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America agritech market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the agritech market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Related Tags North America Agritech Market North America Agritech Market Research North America Agritech Market Insight North America Agritech Market Trends North America Agritech Market Forecast North America Agritech Market Share North America Agritech Market 2027 North America Agritech Market Growth North America Agritech Industry Sector North America Agritech PDF Report North America Agritech Analysis North America Agritech Research Competitive Analysis

Purchase Options
Single User License
$3000
Site License
$4000
Enterprise License
$5000