- Alpha Brown conducted an extensive study among nearly 1,500 farmers and ranchers, aimed at understanding the scope of their use of technological solutions designed for agriculture.
- Among other topics, the study examines how much farmers spend on technological solutions, as well as what types of technological products and services are utilized. Further, the study attempted to understand farmers’ plans for technological purchases in 2018.
- The data that was aggregated in this study, and will be presented in this report, allows us to analyze the following topics, which would be of crucial interest for several market players, primarily technology developers and investors:
- The current market size of AgTech and expected trends for 2018
- The technologies that farmers are most interested in, according to type of farm operation
The five main conclusions arising from our research are:
- The present market size of AgTech in the United States is $10.2 billion (based on the annual technology budget of u.s. farmers)
- 80% of U.S. farms invest in technological products and services
- The budget that most U.S. farms (77%) allocate for technology is less than $5,000 per year, with only a narrow minority of farms investing over $20,000 per year
- The U.S. agricultural technology market is not expected to increase significantly in 2018, and it might even shrink, with only 7% of farms stating their intention to increase their technology budget and 12% of farms stating they will cut it
- Farmers’ major interest is in farm and data management software solutions, and they are less interested in physical products, specifically advanced products (as a result of small technology budgets)
- The study will include the following chapters:
- Chapter 1 – The U.S. Agricultural Technology Market Share – What is the current scope of farmers’ budgets allocated to technology
- Chapter 2 – Expected Trends in the AgTech Market for 2018 – Are farmers planning on increasing or cutting down their spending on technology?
- Chapter 3 – What technology fields are U.S. farmers planning on investing in during 2018? we focused on 6 primary technologies and examined their current and planned use among farmers, in order to understand what technologies farmers find most attractive.
- Chapter 4 – Analysis of the AgTech market potential according to farming sector
- Field vegetables
- Greenhouse crops
List of figures:
Figure 1 - Distribution of farms included in the survey by size (in acres)
Figure 2 - Distribution of farm operations included in the survey (by # of respondents)
Figure 3 - Distribution of farms according to annual technology budget
Figure 4 - Distribution of large farms (over 1,000 acres) according to technology budget
Figure 5 Farms spending up to $5,000 on technology annually - distributed by farm size.
Figure 6 - Farms spending up to $5,000 on technology annually - distributed by type of operation.
Figure 7 - U.S. farmers’ technology budget plans for 2018.
Figure 8 - Farms planning to increase technology budget in 2018 - distribution of respondents compared to the general size distribution.
Figure 9 - Technological products/services farmers plan to invest in during 2018.
Figure 10 - Farmers' interest in farm management software according to farm size.
Figure 11 - Farmers' interest in farm management software according to type of operation.
Figure 12 - Farmers' interest in robotics and automated solutions according to farm size.
Figure 13 - Farmers' interest in data analytics solutions according to farm size.
Figure 14 - Farmers' interest in IoT solutions according to farm size.
Figure 15 - Farmers' interest in Ag-biotechnology solutions according to farm size.
Figure 16 - Farmers' interest in Ag-biotechnology solutions according to farming sector
Figure 17 - Fruit growers' interest in technology compared to the general average.
Figure 18 - Vegetable growers' interest in technology compared to the general average.
Figure 19 - Greenhouse growers' interest in technology compared to the general average.
Figure 20 - Livestock farmers' interest in technology compared to the general average.
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