The Agritech Platform Market is projected to surge from its current valuation of over $13.1 billion to more than $41.6 billion by 2032, according to Global Market Insights, Inc. This growth is being fueled by rising funding and rapid technological innovation across the agricultural sector.
In March 2024, Elevate Foods, an agritech startup based in Singapore and Mumbai, raised $525,000 in seed funding, led by Wavemaker Impact (WMi), a Singapore-based climate-focused investor. Such investments highlight the growing confidence in digital agriculture solutions that drive sustainability and efficiency.
Agritech platforms leverage IoT, AI, and data analytics to improve crop yields, resource efficiency, and supply chain management. These platforms provide farmers with real-time insights, market access, and precision agriculture tools, making them integral to the sector’s transformation.
- Service Segment Growth (2024–2032): Services like data analytics, precision tools, advisory solutions, and financial access are expected to expand significantly. They enable farmers to make better decisions, enhance productivity, and adopt sustainable practices.
- Livestock Monitoring: The use of IoT-enabled sensors, data analytics, and monitoring tools for livestock health and behavior will see strong adoption, ensuring animal welfare, operational efficiency, and reduced environmental impact.
- Asia-Pacific Market Outlook: With challenges such as land scarcity, water shortages, and labor inefficiencies, Asia-Pacific is expected to witness remarkable CAGR during 2024–2032. Government-backed digital agriculture initiatives and collaborations, such as Arya.ag’s partnership with SOPA in August 2023, are further accelerating adoption.
The Agritech Platform Market is positioned for strong growth, supported by investments, digitalization trends, and sustainability goals.