Along with the radical transformation in terms of scale, speed, and productivity, the agriculture industry is on the cusp of another breakthrough with the incorporation of AI, analytics, connected sensors, and other emerging technologies.

You can also take your first step toward achieving growth-centric solutions with the help of our industry experts who will help spark innovative thinking and ideas related to growth opportunities, which will benefit your organization.

Please find below some of the latest industry highlights!

Investment Activities

• The U.S. Department of Agriculture’s National Institute of Food and Agriculture (USDA-NIFA) and the U.S. National Science Foundation (NSF) announced a $220 million investment in 11 new NSF-led Artificial Intelligence Research Institutes. [source]
• BASF Venture Capital invests in Indian hydroponics startup UrbanKisaan. [source]
• THE ASIAN Development Bank (ADB) and New Hope Singapore Private Ltd. (NHS) signed a $20-million loan agreement that will extend financing assistance to farmers in South and Southeast Asia, including the Philippines. [source]

New Product Launches

• Bosch and BASF Digital Farming to globally market and sell smart farming technologies from a single source has now received approval from all relevant merger control authorities. [source]
• Agritech solutions are now possible for farming in Africa with Omniolytics’ purchase of IBM Watson product to develop smart farming solutions focused on poultry farmers. [source]
• New Holland launches flagship T7 intelligent tractor. [source]
• AGCO has launched a pilot of its Precision Ag Line program, a tool designed to streamline support services for farming customers using its solutions. [source]

Government Regulation Updates

• The U.S. Department of Agriculture’s National Institute of Food and Agriculture (USDA-NIFA) and the U.S. National Science Foundation (NSF) announced a $220 million investment in 11 new NSF-led Artificial Intelligence Research Institutes. [source]
• UT AgResearch Announces New Precision Livestock Farming Initiative. [source]

Related Technologies

• Based on BIS analysis, the global agriculture technology-as-a-service market is projected to grow from $1,101.6 million in 2020 to $3,089.8 million by 2025, at a CAGR of 22.91% from 2020 to 2025. [source]
• Within the global powered agriculture equipment market, the Asia-Pacific and Japan region recorded the largest volume sales in 2019. [source]

BIS Research Updates in the Agriculture Space

High growth in the precision agriculture market is expected to be globally driven by the need to effectively apply site-specific farming solutions to manage raw materials and resources, as per industry requirements.

Emerging economies, such as India, China, Mexico, Brazil, and South Africa, are expected to offer unexplored opportunities in the global farm management software and data analytics market.

The global trend of more and more people adopting a vegan diet and lifestyle has witnessed more growth in countries such as the U.S., where people are more concerned about their physical health and well-being. It can be understood from the fact that the U.S retail sales for plant-based foods increased 11% in 2019 from 2018.

Environmental impacts from the food packaging material have generated the need for sustainable packaging solutions. Corporations such as McDonald’s, Unilever, Nestlé, Danone, PepsiCo, etc, have set up targets to improve the sustainability of their packaging materials by 2025.

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Please feel free to reach out at ahmad.shaquib@bisresearch.com in case of any doubt or query.