The large-scale Blockchain in Agriculture Market report provides market analysis by taking into account market structure along with forecasts for the various segments and sub-segments of the Blockchain in Agriculture Market industry. An exhaustive analysis of factors influencing investment is also provided in this report, forecasting impending opportunities for businesses and developing strategies to improve return on investment (ROI). The data and information concerning the Blockchain in Agriculture Market industry are derived from consistent sources such as websites, annual reports of companies, journals, and others and were checked and validated by market experts.
To prosper in this competitive marketplace, businesses greatly benefit if they adopt innovative solutions such as the Blockchain in Agriculture Market research report. Numerous estimations and calculations have been executed in this market report by assuming a definite base year and the historic year. The report also provides knowledge of all the drivers and restraints derived through SWOT analysis. The large-scale Blockchain in Agriculture Market report considers various factors that have a significant impact on the growth of businesses, including historic data, present market trends, environment, technological innovation, upcoming technologies, and technical progress in the Blockchain in Agriculture Market industry.
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 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.
Some of the major players operating in the blockchain in agriculture market are:
- 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.)
Explore Further Details about This Research Blockchain in Agriculture Market Report
Global Blockchain in Agriculture Market Dynamics
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.
- 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.
Key points in the Blockchain in Agriculture Market report
- Strategic recommendations in key business sections in light of the market estimations.
- Market share and size of all the foremost industry players
- Strategic proposals for the new participants
- To describe and forecast the Blockchain in Agriculture Market, in terms of value, by process, product type, and industry.
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for Blockchain in Agriculture Market leaders
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