Agritech Market Growing at 15.3% CAGR | Reach USD 34,831.17 Million by 2034 Globally

WILMINGTON, DE, UNITED STATES, July 9, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Agritech Market Growing at 15.3% CAGR | Reach USD 34,831.17 Million by 2034 Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global agritech market size was valued at $8,150.15 million in 2024, and is projected to reach $34,831.17 million by 2034, growing at a CAGR of 15.3% from 2025 to 2034.

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Driving Factors

Rise in emphasis on food productivity and increase in demand for sustainable agriculture has driven the demand for advanced agricultural technologies, prompting increased investments in precision farming, automation, and data-driven crop management solutions. In addition, the government's support and policies in supporting modern farming practices are positively influencing the market growth. However, high initial investment and limited digital literacy pose significant restraints. Conversely, adoption of automation and robotics in the agritech market presents significant opportunities for market players.

Market Segmentation

The agritech market is segmented into component, application, technology, and region. On the basis of component, the market is classified into hardware, software, and service. By application, it is segregated into precision farming and farm management, livestock monitoring, quality management, and others. On the basis of technology, the market is classified into AI, IoT, automation and robotics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By component, the hardware segment dominated the market in 2024 and is expected to continue leading due to increase in adoption of precision farming techniques and automation in agriculture, government initiatives in smart farming initiatives through subsidies and grants, and integration of integration of IoT-enabled devices, AI-driven analytics, and robotics to improving accuracy and reducing labor dependency.

By application, the precision farming and farm management segment witnessed significant growth due to rise in need for sustainable agriculture and efficient resource utilization and growing adoption of modern farming practices.

By technology, the automation and robotics segment is expected to register the highest growth, due to increase in adoption of advanced technologies such as robotics, drones, automated irrigation systems, and self-driving tractors.

By region, North America dominated the market share in 2024, owing to increase in adoption of advanced technologies such as AI, robotics, and precision farming tools, along with strong government support and high investment in R&D. However, LAMEA is expected to experience the fastest growth during the agritech market forecast period, owing to increase in need for food security, climate-resilient farming solutions, and government initiatives promoting digital agriculture, which is expected to provide lucrative growth opportunities for the market in this region.

Major players in the agritech market include Syngenta AG, Indigo Ag, Pivot Bio, Ninjacart, Agreena ApS, CropX, Zuari FarmHub Limited, ARSR Tech, Crofarm Agriproducts Pvt Ltd., LettUs Grow, Ceres Imaging, Hortau Technologies Inc., Farmers Business Network, John Deere, AGCO Corporation., Microsoft Corporation, AgEagle Aerial Systems Inc., CNH Industrial N.V., topcon positioning systems, and BrioAgro Tech, S.L. These companies are focusing on expanding their service offerings, strategic partnerships, and enhancing cybersecurity measures in the agritech industry.

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Technological Innovations & Future Trends:

Vertical and indoor farming, enabled by Controlled Environment Agriculture (CEA), facilitates food production in urban settings while minimizing land and water usage. By leveraging LED lighting and hydroponic or aeroponic systems, these methods reduce the need for pesticides and optimize plant growth cycles.

Smart farming integrates IoT sensors and AI to automate monitoring of weather, crops, livestock, and equipment, while AI-driven systems enhance productivity and optimize resource use.

Regenerative agriculture technologies leverage data tools and biological inputs to restore ecosystems, regenerate soil health, and capture carbon.

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