Find stats on top websites
Industry Landscape
The AgTech industry is currently experiencing rapid growth, driven by the need for increased efficiency, sustainability, and resilience in food production systems. Data analytics, precision farming, and IoT solutions are transforming traditional agricultural practices. Investments in AgTech startups are increasing, and there's a growing focus on developing solutions that address climate change and promote environmental stewardship. The market is competitive, with established players and innovative startups vying for market share. Adoption rates are increasing, particularly among large-scale commercial farms.
Total Assets Under Management (AUM)
Digital Agriculture Market Size in United Kingdom
~£6.4 billion (approximate conversion from USD)
(8.2% CAGR)
The digital agriculture market is growing at a rate of 8.2% annually. • Increasing adoption of precision farming techniques. • Growing demand for data-driven insights. • Government support for agricultural innovation. [1]
Total Addressable Market
10 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Artificial Intelligence (AI)
AI-powered analytics can provide farmers with real-time insights into crop health, soil conditions, and weather patterns, enabling data-driven decisions for optimized resource allocation and improved yields.
Internet of Things (IoT)
IoT sensors and devices can collect granular data from fields, allowing for precise monitoring of environmental factors and crop performance, leading to more efficient irrigation, fertilization, and pest control strategies.
Blockchain
Blockchain technology can enhance transparency and traceability in agricultural supply chains, enabling consumers to track the journey of food products from farm to table and ensuring the authenticity and sustainability of agricultural practices.
Impactful Policy Frameworks
General Data Protection Regulation (GDPR)
The General Data Protection Regulation (GDPR) (EU) 2016/679 is a regulation in EU law on data protection and privacy in the European Economic Area (EEA). It also addresses the transfer of personal data outside the EU and EEA areas. The GDPR aims primarily to give control to individuals over their personal data and simplifies the regulatory environment for international business by unifying the regulation within the EU.
This will significantly impact Agricompas by ensuring compliance in data handling and influencing the development of privacy-focused features in their analytics platforms.
Environmental Land Management schemes (ELMs)
Environmental Land Management schemes (ELMs) are new schemes that will replace the EU Common Agricultural Policy (CAP) Direct Payments and are designed to improve environmental outcomes and support sustainable farming practices in the UK. These schemes include the Sustainable Farming Incentive, Local Nature Recovery, and Landscape Recovery, each targeting different aspects of environmental management on agricultural land, with varying eligibility criteria and payment structures.
Agricompas may need to adapt its data analytics services to support and align with the UK's commitment to environmental stewardship and sustainable agricultural practices, potentially opening new market opportunities related to carbon farming and ecosystem services.
UK Trade Policy Post-Brexit
Following Brexit, the UK has been establishing its independent trade policy, negotiating new trade agreements with countries around the world. This includes establishing new trading relationships and standards, separate from the European Union's regulations. This has implications for agricultural imports, exports, and the overall regulatory environment affecting the industry in the UK. These new policies can affect agricultural businesses operating in the UK market, particularly those involved in international trade.
This could require Agricompas to ensure its data analytics platforms are adaptable to changing trade dynamics and compliant with new standards, influencing its international market strategies and data-sharing agreements.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
