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Agri-Tech.
Agri-Tech
Agritech is an umbrella term for the technology used in agricultural activities to improve efficiency. Just like the manufacturing sector, the agricultural scene has also undergone significant changes. With different applications of technology improving the elements of farming and growing process, a new amalgamation of technologies and agriculture has given rise to new opportunities in what used to be a traditional business once.
It may come as a surprise that services like the Farming-as-a-Service (FaaS) sub-segment uses technology to improve supply chain management, farm mechanisation, crop advisory, access to market, etc. No wonder this sector is receiving billions of dollars in investment worldwide on an annual basis. And the start-ups that invested in the business early are experiencing a growth of about 25% each year.Here’s a fun fact – today, the global population is nearing 8 billion human beings. It is estimated that by 2050, the population is expected to rise to 11 billion. This means a lot of farmlands and other areas will be replaced by living population. Therefore, the only way to stay ahead of the game is to find smart means to grow crops.
Thanks to the research and development in the field of farming technologies, today the traditional farmer is as sophisticated as the software engineer that sits in a corporate office. Although, he still has to toil in the sun, his work has reduced by a large portion thanks to the advent of Agri-Tech sector. The framing equipment as well as other farming elements are also refined and represents the products of a new era. With such sophistication, the agricultural sector is witnessing huge changes.
With new opportunities evolving out in this space, this sector is experiencing a meteoric rise in implementation opportunities. And since, this blooming sector has tremendous potential, MNR Solutions have partnered with some of the technology giants that cater to the agriculture business.
To know more about opportunities in the Agri-Tech, reach out to us for a consultation. We will be happy to guide you with the relevant details and industry graph for this sector.
