GCC AgriTech Market

AgriTech or agriculture technology is defined as the use of advanced technologies in agriculture for increasing yield and profitability. The major technologies being used in agriculture includes drones, satellite photography, IOT based sensors, biotechnology, artificial intelligence, big data, and blockchain. The advent of these new technologies helps the agriculture industry in facing challenges pertaining to land management, climate change, resource depletion, and biodiversity loss.

To have an edge over the competition by knowing the market dynamics and current trends of “GCC AgriTech Market,” request for Sample Report here

The key factors driving the growth of the GCC AgriTech market include increasing demand for advanced technologies in the agriculture sector, favorable government initiatives, and rising pressure on the food supply system due to the rising population rate. The government of the major economies such as the United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain, are focussing on increasing their local production of food as the majority of it, almost 90% is being imported from different countries. The presence of COVID-19 pandemic has further made the governments of these economies to focus more on improving their agriculture sector. The same can be visualized from the fact that on June 2020, the UAE government formed an Agriculture Development Team for strengthening the food supply system in the country. In addition, Saudi Arabia’s government Vision 2030 programs also focusses on the development of the agritech sector in the country. Similarly, the government of Bahrain has introduced a Food Sustainability Initiative and has entered into a deal with the local bodies for building new agriculture and fish farms.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the type, the mobility is projected to grow at a higher CAGR during the forecast period owing to the increasing demand for the remote controlled drones for monitoring crop growth and increasing crop protection. Moreover, rising adoption of big data analytics solutions for monitoring pest and disease infestation as well as increasing usage of the aerial data collection tools in agriculture for predicting conditions of soil will further boost the demand for the segment. On the other hand, vertical farming is anticipated to lead the market during the forecast period owing to its increased adoption by the farmers of key economies such as U.A.E and Saudi Arabia. The favourable government initiatives such as The AgTech government accelerator project in the U.A.E. is a key factor which is fuelling the growth of the segment.

Based on the application, the production and maintenance application is anticipated to lead the GCC AgriTech market due to the rising usage of advanced technologies such as IOT based sensors, vertical farming, and remote-controlled drones for an increased yield. Furthermore, the growing adoption of automated machinery by the farmers for various purposes, including identification of agricultural produce and optimization of water use, will further fuel the growth of the segment during the forecast period.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Based on the countries, United Arab Emirates is projected to grow at a faster CAGR during the forecast period. The increased focus of the government to promote vertical farming and the rising adoption of new technologies such as drones are the major factors that will fuel market growth.

Various notable players operating in the market include Pure Harvest Smart Farms, AeroFarms, Madar Farms, Intelligent Growth Solutions (IGS), SALIC (Saudi Agricultural and Livestock Investment Co.), RDI and Pegasus Agritech.

Key Developments:

• • In April 2020, Pure Harvest Smart Farms partnered with Wafra International Investment Company to establish more greenhouses in Saudi Arabia and U.A.E.
  • in April 2020, the Abu Dhabi Investment Office (Adio) partnered with AeroFarms, Madar Farms, RNZ and RDI for providing research on various agriculture technologies. This partnership is worth $100 million. This will help the Abu Dhabi Investment Office (Adio) to understand which the best technologies are to increase yield.

The GCC AgriTech market has been segmented on the basis of type, application, and countries. Based on type, the market is segmented into Biotech, Big Data and Artificial Intelligence, Internet of Things, Mobility, Vertical Farming, and Others. Based on the application, the market is segmented into Irrigation, Production and Maintenance, Marketplace, Supply Chain, and Others. Based on countries, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the Rest of GCC.

For detailed scope of the “GCC AgriTech Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is GCC AgriTech market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in GCC AgriTech market? What will be the impact of drivers and restraints in the future?
  • Which type generated maximum revenues in 2019 and identify the most promising types during the forecast period?
  • What are the various application areas of GCC AgriTech market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

GCC AgriTech Market by Type

• • Biotech
  • Big Data and Artificial Intelligence
  • Internet of Things
  • Mobility
  • Vertical Farming
  • Others

GCC AgriTech Market by Application

• • Irrigation
  • Production and Maintenance
  • Marketplace
  • Supply Chain
  • Others

GCC AgriTech Market by Countries

• • UAE AgriTech Market All-Up (Option 1: Free 25% Customization)
  • Saudi Arabia AgriTech Market All-Up (Option 2: Free 25% Customization)
  • Oman AgriTech Market All-Up (Option 3: Free 25% Customization)
  • Kuwait AgriTech Market All-Up (Option 4: Free 25% Customization)
  • Rest of GCC AgriTech Market All-Up (Option 5: Free 25% Customization)

GCC AgriTech Leading Market Players (Option 6: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Pure Harvest Smart Farms
  • AeroFarms
  • Madar Farms
  • Intelligent Growth Solutions (IGS)
  • SALIC (Saudi Agricultural and Livestock Investment Co.)
  • RDI
  • Pegasus Agritech