Global Blockchain Technology Market in the Agriculture Sector 2018-2022

The global blockchain technology market in the agriculture sector is forecasted to reach a value of almost USD 148 million by 2022, with new opportunities developing around the world. The products in this market include not only products that handle data and contracts, but also help the farmers track logistics of crops. This study provides an in-depth analysis of the market by product type (public blockchain technology, consortium blockchain technology, and private blockchain technology), and by region (the Americas, EMEA, and APAC). It also examines the competitive landscape and some of the leading blockchain technology companies such as AgriLedger, FULL PROFILE, and IBM.

Below are a few of the facts about blockchain technology in agriculture found in Technavio’s market research report

Increased government initiatives are key factors driving the demand for blockchain technology applications

Technavio’s analysts have identified the rising number of government initiatives as a major factor that will drive the growth of blockchain technology in agriculture during the forecast period. Government agencies are focusing on expanding the use of blockchain technology in agriculture sector which will contribute to the growth of the market. Emerging precision agriculture technologies such as telematics, robotics, and nanotechnology are helping farmers make use of the advantages of precision farming to make better decisions and increase the agricultural output. These driving factors are part of the reason why the market is expected to grow at a CAGR of almost 14%. For a complete list of drivers influencing the market’s growth, purchase Technavio’s full report.

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AgriLedger, FULL PROFILE, and IBM are among the leading blockchain technology companies in the agriculture sector

The global blockchain technology market in the agriculture sector is growing reasonably concentrated with the presence of few international and regional blockchain technology companies that offer products that handle data and contracts and track crop logistics with blockchain technology applications. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this blockchain technology market in the agriculture industry analysis report will aid clients to identify new growth opportunities and design innovative strategies for business expansion.

The report offers a complete analysis of several blockchain technology companies, including:

• AgriLedger
• FULL PROFILE
• IBM
• Microsoft
• Ripe Technology
• TE-FOOD International

The Americas will be the primary driver of growth during the forecast period

Technavio’s market research report covers the following regions:

• The Americas
• EMEA
• APAC

About 60% of the market’s incremental growth is expected to come from the Americas over the next five years. At the end of 2017, the Americas accounted for the largest market share in the global blockchain technology market in the agriculture sector, followed by EMEA and APAC. The Americas are forecasted to experience an increased market share in the next five years, while EMEA and APAC are poised to witness a marginal decline at the end of the forecast period.

Public blockchain technology leads the blockchain technology market in the agriculture sector by product type

The global blockchain technology market in the agriculture sector can be divided into 3 product categories:

• Public blockchain technology
• Consortium blockchain technology
• Private blockchain technology

In 2017, the public blockchain technology product segment held the largest share of the market, followed by the consortium blockchain technology and private blockchain technology. The public blockchain technology is expected to maintain its dominant position over the next five years while consortium and private blockchain technology will hold decreased market share. This report also examines the contributions of the other product segments to the growth of the market and offers predictions for their future performance.

Key highlights of the global blockchain technology market in the agriculture sector for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the blockchain technology market in the agriculture sector during the next five years
• Precise estimation of the size of the blockchain technology market in the agriculture sector and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the blockchain technology market in the agriculture sector across various geographies such as the Americas, EMEA, and APAC
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of blockchain technology companies in the agriculture sector

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This market research report analyzes the market outlook and provides a list of key trends, drivers, and challenges that are anticipated to impact the global blockchain technology market in the agriculture sector market and its stakeholders over the forecast years.

Technavio’s analysts for the blockchain technology market in the agriculture sector have also considered how the performance of other related markets in the vertical will impact the size of this market until 2022. Some of the markets most likely to influence the growth of the precision agriculture market over the coming years are the precision agriculture market and the agricultural testing market.

Technavio also provides customized reports based on the specific requirement of our clients.