Agriculture plays a crucial role in the economic growth of some of the greatest nations in the India. With uninterruptedly increasing population and growing requirement of agricultural output to encounter the growing requirement, the investments in agriculture technology solutions have been increasing at an impressive pace in India.
According to the report analysis, ‘India Agritech Market Outlook to FY’2025-By Nature of Services (Input Market Linkage & Farming as a Service, Supply Chain, Post Harvest Management & Output Market Linkage, Precision Farming, Advisory & Analytics and Agri Fintech)’ states that the India Agritech Market is in early growth stage with growing awareness among farmers owing to growth in internet penetration and mobile connectivity. Several agritech startups have entered the industry, particularly in the last 5 years, seeing the possible of the industry. Government impetus in the form of setting up incubators, grants and entering into the public-private partnerships with these players has also enthused entry of players in the sector. The sector is also observing high level of investment activity, with growing interest from venture capitalist firms and international investors. During 2020 alone, the investment in the segment crossed USD 300 million. The complete agritech industry observed a revenue growth of ~85% throughout FY’2019-FY’2020.
The India Agritech Market has existence of ~600-700 agritech startups as of 2020. Startups in the supply chain & output linkage sector involving Samunnati Agro, Ninjacart and Waycool register the industry on the basis of revenue during FY’2020. Startups in the precision farming, advisory & analytics sector are still in a nascent stage and face the challenge of monetization at scale. Cropin is the important player in the precision farming segment. Within the input market association and farming as a service sector, Agrostar was witnessed to be the leading player. The agri fintech space is presently lead by Samunnati’s NBFC arm and Origo Finance. Most players in the agritech industry compete on the basis of parameters likewise number of farmers on-boarded, partnerships, physical touch points, geographical existence, etc.
With the growth in efficient connection among farmers due to digitalization, the usage of state-of-the-art technologies likewise IoT and cloud would motivate farmers to adopt improved agricultural ecosystem. Surge in the number of agritech startups and growing penetration of sensor-based technologies are among the other aspects leading to the augment in these tech investments, and thereby propelling the aspect growth.
The industry is projected to observe a CAGR of ~32.0% on the basis of revenue by FY’2025. Increasing rural smartphone and internet penetration is predicted to underwrite to greater adoption agritech solutions in the country. ~410 million new smartphone users are predicted to be added to India’s present user base by 2025, without majority of the requirement coming from rural locations. Geographical enlargement to dissimilar states by agritech players is also predicted to be witnessed during the coming years. The entry of new players with the end-to-end solutions along the agribusiness value chain is predicted for the future.
India Agritech Market (Basis Revenue):-
India Agritech Market Segmentations
By Nature of Services, FY’2019-FY’2020 (On the basis of Revenue)
Input Market Linkage & Farming as a Service (FaaS)
Supply Chain, Post Harvest Management & Output Market Linkage
Precision Farming, Advisory & Analytics
Agri Fintech
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By Region (On the basis of No. of Agritech Startups)
Karnataka
Maharashtra
Delhi NCR
Haryana
Tamil Nadu
Telangana
Gujarat
Others
Agritech Startups Covered:-
Input Market Linkage & Farming as a Service (FaaS)
Agrostar
Dehaat
Gramophone
EM3 Agriservices
Gold Farm
Bighaat
Thanos Technologies
Supply Chain, Post Harvest Management & Output Market Linkage
Samunnati Agro
Ninjacart
Waycool
Arya Collateral
Dehaat
Farmlink
Crofarm
Agrowave
Precision Farming, Advisory & Analytics
Cropin
Satsure Analytics
Intello Labs
FarmERP
AgNext
BharatAgri
Yuktix Technologies
Fasal
Agricx
Agri Fintech
Samunnati Financial Intermediation & Services
Origo Finance
Ergos
Gramcover
Aryadhan Financial Solutions
Farmart
Jai Kisan
Poultry & Dairy Tech
Milk Mantra
Country Delight
Stellapps
Happy Cow Dairy
Eggoz
Mr. Milkman
Mooofarm
Key Target Audience:-
Agritech Companies
Input Manufacturing Companies
Venture Capital Firms
Independent Investors
Industry Associations
Rural Banks & NBFCs
Government and Regulatory Bodies
Time Period Captured in the Report:-
Historical Period: FY’2019-FY’2020
Forecast Period: FY’2021-FY’2025
For more information on the research report, refer to below link:-
Related Reports:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
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