During
the forecast period, 2024–2028, the United States agritecture market is
expected to grow astonishingly. The major factors include the expanding
population, the development of technology, government backing, environmental
concerns, and shifting consumer preferences.
The
implementation of technology in agriculture is referred to as "agritecture".
This is done to improve and optimize the production and utilization of animals
and crops. This involves gathering information on soil characteristics, crop
growth, and atmospheric conditions using precision farming tools, such as sensors
and drones. Agritecture also includes the production of food in urban settings
with limited space with controlled environment agriculture, such as hydroponics
and vertical farming. Agritecture aims to meet the rising need for food in a
world that is becoming more urbanized while simultaneously enhancing
sustainability in agriculture through increased productivity, waste reduction,
and other strategies.
Precision
farming, artificial intelligence, and big data analytics, among other emerging
technologies, have made it simpler for farmers to improve their processes and
boost productivity. With the assistance of these technologies, farmers may make
informed decisions regarding planting, fertilizing, and harvesting by having
access to real-time data on soil conditions, crop growth, and weather patterns.
Additionally, urban farmers may meet the rising demand for locally grown
products by using controlled environmentally friendly agricultural techniques
like vertical farming and hydroponics, which require relatively less land.
Government
support is another factor strengthening the United States Agritecture
sector. The United States government grants tax breaks to farmers that use
sustainable farming methods and funds the development of innovative
agricultural technologies. Government programmes like the Environmental Quality
Incentives Programme (EQIP) and the Farm Bill offer financial support to
farmers who use conservation techniques to stop soil erosion, save water, and
preserve animal habitat. These regulations encourage farmers to use
environmentally friendly farming methods and to spend money on technology to
enhance their businesses.
The
development of the United States agritecture sector is also being fueled
by environmental concerns. A growing demand for sustainable farming methods is
being driven by customers' boosted awareness of the environment. By requiring
less water, energy, and fertilizer to produce food, technological advances in
agriculture can assist farmers in lowering their environmental impact. In
addition, modern agricultural techniques like hydroponics and vertical farming
utilize a lot less area than conventional farming, which can lessen habitat
loss and deforestation.
The
United States agricultural architecture market has the potential to
transform the agricultural sector by increasing sustainability and optimizing
production. However, several challenges are preventing its development. The
high initial investment costs associated with implementing agricultural
technology are one of the major challenges. The expense of these solutions may
be prohibitively costly for small farmers without access to funding, which may
limit their capacity to compete with larger farms.
Another
challenge is limited access to technology for farmers in remote areas who do
not have access to the technology required to execute agricultural solutions.
Agritecture solutions can be harder to implement because there is a labor
shortage for skilled workers to run and maintain them. Farmers may find it
challenging to navigate rules and adhere to necessary standards due to the
industry's complex regulatory environment. The adoption of agricultural
technology may also be slowed down by some farmers' reluctance to adopt new
technologies or modify their old farming methods. Additionally, while using agritecture
solutions, farmers still rely on weather patterns to grow their crops and
erratic weather can have a negative impact on harvests.
Another
development that will have an impact on the development of the United States
Agritecture sector is the incorporation of big data and artificial intelligence
into agriculture. Farmers can gather information on weather patterns, crop
development, and soil conditions by employing sensors and other monitoring
tools, which enables them to plan their planting, fertilizing, and harvesting
procedures. Farming efficiency can be increased and waste can be decreased by
using machine learning algorithms to predict crop yields and optimize crop
growth.
The
Adoption of Blockchain Technology
The
implementation of blockchain technology is expected to revolutionize the United
States agritecture industry by enhancing the food supply chain's efficiency,
transparency, and traceability. Farmers and other stakeholders can securely
communicate data on crop growth, soil characteristics, and weather patterns
using blockchain technology, allowing them to make well-informed choices about
planting, fertilizing, and harvesting. The ability for consumers to confirm the
provenance and quality of their food is another benefit of using blockchain
technology in the food supply chain. This may boost consumer and farmer trust
and, as a result, raise demand for food produced sustainably. Blockchain
technology can assist increase productivity and decrease waste in the
agriculture sector by providing a safe and open platform for data sharing and
collaboration, which will likely fuel the expansion of the United States agritecture
market in the years to come.
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Adoption
of Vertical Farming
In
the years to come, the adoption of vertical farming is expected to have a
considerable impact on the United States agritecture sector. Food can now be
grown in urban locations with little space due to vertical farming, which also
improves freshness and lowers transportation costs. Additionally, vertical
farming that uses hydroponics and aeroponics uses less water and makes better
use of nutrients. Furthermore, year-round production is made possible by
vertical farming's use of artificial lighting and climate control, ensuring a
steady supply of fresh vegetables. The adoption of vertical farming is poised
to fuel the expansion of the United States agritecture market due to the rising
demand for locally produced, fresh, and sustainably cultivated food.
Changing
Consumer’s Preferences
In
the years to come, the development of the United States agritecture market
is projected to be significantly impacted by the shifting consumer tastes.
Consumer demand for items that are cultivated using more environmentally friendly
and sustainable agricultural practices is anticipated to increase as there is a
growing trend towards healthy, sustainable, and locally sourced food products.
Many farmers are implementing fresh techniques and technologies to enhance the
quality of their crops while reducing their environmental impact in response to
these shifting consumer desires.
Additionally,
as the public's understanding of their health increases, so does the demand for
organic and non-GMO products. It is anticipated that this change in consumer
taste would enhance the production of organic crops, which will probably result
in expansion of the organic farming in the United States.
Increased Demand for Food with the Rising
Population
The
expansion of the United States agritecture sector is expected to be
greatly influenced by the nation's rising food demand. The demand for food
goods rises along with the population, which is likely to result in a rise in
crops and other food product production.
According
to Worldometer, the population of the United States of America is 336,512,637
as of Monday, May 8, 2023. The United States ranks number 3 in the list of
countries by population.
Farmers
are likely to use new technology and practices to improve the yield and
effectiveness of their farms to fulfil the rising demand for food. This could
involve the use of genetically modified crops that can tolerate pests and
droughts or precision agriculture methods, which enable farmers to maximize the
use of resources like water and fertilizers.
Furthermore,
a greater adoption of environmentally friendly and sustainable farming methods
is projected to result from the rising global demand for food. This could
involve implementing organic agricultural practices to cut back on the usage of
synthetic fertilizers and pesticides or using cover crops to promote soil
health.
Market Segmentation
The
United States agritecture market can be segmented by integration, structure,
application, and region. By integration, the United
States agritecture market can be segmented into indoor and outdoor. Based on structure,
the United States agritecture market is divided into retrofitting, extension,
and new building. Based on application, the United States agritecture market is
divided into commercial and residential.
Market Players
BrightFarms Inc., AeroFarms
LLC, Gotham Greens Holdings LLC, Plenty Unlimited Inc., Bowery Farming Inc., Farm.One,
Local Roots Farms, and Urban Oasis' are some of the leading companies operating
in the market.
|
Attribute
|
Details
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Base Year
|
2022
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Historic Data
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2018 – 2022
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
|
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Quantitative Units
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Revenue in USD Million, Volume Units and
CAGR for 2018-2022 and 2023-2028
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Report Coverage
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Revenue forecast, Volume forecast company share, competitive
landscape, growth factors, and trends
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Segments Covered
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Integration
Structure
Application
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Regional Scope
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Northeast Region; Midwest Region; South Region; West Region
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Key Companies Profiled
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BrightFarms Inc., AeroFarms LLC, Gotham
Greens Holdings LLC, Plenty Unlimited Inc., Bowery Farming Inc., Farm.One,
Local Roots Farms, Urban Oasis
|
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Customization Scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
|
Pricing and Purchase Options
|
Avail customized purchase options to meet
your exact research needs. Explore purchase options
|
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, United States
agritecture market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:·
United
States Agritecture Market, By
Integration
o
Indoor
o
Outdoor
·
United States Agritecture Market,
By Structure
o
Retrofitting
o
Extension
o
New Building
·
United States Agritecture Market,
By Application
o Commercial
o Residential
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present in United States agritecture market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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