Prominent trends in the agritech industry, which saw an investment of $5.2 billion in 2021
It is estimated that the world population will reach 9.3 billion by 2050 . For the Earth as a planet to feed 9.3 billion people, it is predicted that agricultural production must increase by 70 percent. Developing new applications such as agricultural technologies against the growing food crisis is in a critical place. Investments in agricultural technologies, namely agritech startups, reached $5.2 billion in 2021 . Since the mechanization of agriculture in the 1940s, the use of technology in agriculture has changed and transformed the industry. The main purpose was to lay the groundwork for sustainable development by minimizing manpower in production.
Technologies affecting the 3.5 trillion dollar industry in the early 2000s ; started to focus on fields such as field crops, agricultural structures and irrigation and soil. Agricultural technologies enable the most accurate decision about production to be made with the data collected from the agricultural production facility. Because the right decision taken at the right time benefits the efficient use of agricultural inputs.
