Blockchain in Agriculture Market Research report 2030 is a well-generated market report which helps achieve comprehensive analysis of the market structure along with estimations of the various segments and sub-segments of the market. This report deals with plentiful aspects of the AGRICULTURE AND ANIMAL FEED industry. The CAGR values covered here estimates the fluctuation about the rise or fall of demand for the specific forecasted period with respect to investment. A comprehensive market study and analysis of trends in consumer and supply chain dynamics underlined in this report assists businesses in drawing the strategies about sales, marketing, advertising, and promotion.
Data Bridge Market Research analyses that the blockchain in agriculture market is expected to reach USD 241.46 million by 2030, which was USD 172.41 million in 2022, registering a CAGR of 4.30% from 2023 to 2030.
Blockchain in Agriculture Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 - 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Type (Public, Private, Hybrid/Consortium), Organization Size (Large Enterprises, SMEs), Stakeholder (Growers, Food Manufacturers/Processors, Retailers), Provider (Application and Solution, Middleware, Infrastructure and Protocol), Application (Product Traceability, Tracking and Visibility, Payment and Settlement, Smart Contracts, Governance, Risk and Compliance Management) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Amazon Web Services, Inc. (U.S.), IBM (U.S.), Microsoft (U.S.), TE-FOOD International GmbH (Germany), Bitfury Group Limited (Netherlands), SAP SE (U.S.), Antier Solutions Pvt. Ltd. (India), AgriDigital (Australia), AirDAO (India), Arc-net (U.K.), FCE Group AG (U.S.), Ripe Technology, Inc (U.S.), GrainChain, Inc. (U.S.) |
Market Opportunities | · Increasing usage of blockchain with IoT in the agriculture sector · Growing modernization of farm management software |
Market Definition
Blockchain in agriculture means the usage of blockchain in the agricultural sector to increase the operating procedure and get lucrative results. The usage of blockchain in the agricultural sector ranges from having a sustainable business and declining waste to up-to-date consumer buying decisions to having smooth transactions with fraud elimination in the upcoming period. The data stored on the blockchain can be accessed by everyone connected to this network with an internet connection
Global Blockchain in Agriculture Market Dynamics
Drivers
- Growth in small and medium enterprises increases the market growth
The augmented demand for small and medium enterprises in the blockchain in agriculture market reinforced the blockchain in agriculture market. This is mainly because larger businesses invest heavily in evolving their remaining solutions, whereas new businesses create exclusive solutions along with the requirements of their national and regional markets. As per the report by StartupLab 2021, the Agritech sector in India is growing at a rate of 25 percent annually, supported by increasing digitization, investor interest, and government efforts. Therefore, the growth in small and medium enterprises will likely drive the blockchain in agriculture market during the forecast period.
- Increasing demand for blockchain in agriculture for risk and compliance management
The growing demand for blockchain in agriculture risk and compliance management is expected to propel the market's growth. Using blockchain in agriculture helps businesses lessen the risk and improve compliance. The blockchain network in agriculture offers a tamper-proof record of transactions that can be used as ownership proof, which is beneficial for auditing purposes. It also enables businesses to find fraudulent activities more easily because they cannot delete or change records once they have been recorded. As a result of this, it boosts the market growth.
Opportunities
- Increasing usage of blockchain with IoT in the agriculture sector
The usage of blockchain with the internet of things (IoT) is a developing trend followed by blockchain companies in agriculture. Companies use blockchain to save and secure data in internet of things (IoT) devices. IoT involves a system of devices that can transfer, collect, and store data over a wireless network. The usage of blockchain with internet of things (IoT) devices allows smart devices to exchange data or information and other financial transactions in a private, scalable, and reliable manner. Blockchain technology with the internet of things (IoT) in agriculture further supports businesses to access data without requiring control and management. Hence, increasing the usage of blockchain with IoT in agriculture will likely drive market growth.
- Growing modernization of farm management software
The other major factor likely to generate lucrative market growth is the modernization of farm management software. The farm management software will develop mainstream soon in reality. This product or software uses the typical customer service model to work. Thus, they are not as proficient in delivering their maximum return as they could with blockchain. Hence, blockchain for this condition can help take farm management software (FMS) to another level. Also, this software will have the safety and security they require with blockchain's protection. As a result of all these factors, boost the market growth in upcoming years.
Regional incites: -
- North America dominates the blockchain in agriculture market due to the strong presence of major regional companies. Furthermore, increasing research and development activities for blockchain in agriculture due to benefits offered to the farming vertical, such as payment, transparency, and land registry, will further boost the market growth.
- Asia-Pacific is anticipated to be the fastest growing region in blockchain in agriculture market during the forecast period of 2023-2030 because of increasing investment made by numerous stakeholders and increasing government support for exploration in this region. Moreover, the adoption of modern technology will further increase market growth.
Get the Full report link https://www.databridgemarketresearch.com/reports/global-blockchain-in-agriculture-market
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Blockchain in Agriculture Market Landscape
Part 04: Blockchain in Agriculture Market Sizing
Part 05: Blockchain in Agriculture Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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