Similar to several other sectors, agriculture has also embraced technology into its core features for streamlining its operations. As a result, the number of start-ups has recently been on the rise. The latest information confirms that agritech start-ups in the U.S. are around 3,645.
Modern agriculture is undergoing fast change. As the world’s population continues to grow alarmingly, consumers’ tastes for organic and sustainably produced items are changing.
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Conventional methods lost their significance long ago, as they could not produce according to demand. As a result, the agriculture industry had to embrace modern technologies to remain productive. The need became more apparent as years passed, leading to a boom concerning agritech start-ups.
The covid-19 has also had an impact on the changes in the agritech industry. The potential of technology has shifted the focus to the agritech industry. Venture capital investments in AgTech start-ups also reflect the increased interest in the sector.
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The market size of the worldwide agritech sector is anticipated to reach $22.5 billion by 2025.
The critical areas of focus for the U.S. agritech industry include leveraging technology to enhance the yield, safeguarding cops against environmental stresses, ensuring utmost milling quality, implementing regenerative practices, bringing big data Analytics into farming, and producing crops in a controlled environment, and so on.
Crop yields, supply networks, and sustainability are enhanced through technologies like blockchain, A.I., and computer vision.