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Global AgriTech Market Size & Share Analysis – Growth Trends & Forecasts (2024 – 2029) | Pheonix Research

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DUBLIN, Oct. 24, 2024 /PRNewswire/ — The Global AgriTech Market is Segmented By Type (Big Data and Analytics, Biotechnology and Biochemical, Mobility, Sensors and Connected Devices and Others), By Application (Crop Production, Livestock Farming, Aquaculture and Forestry Management), By Sector (Precision Farming, Agriculture, Agrochemicals, Smart Agriculture, Biotechnology, Indoor Farming and Others) and By Region (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa). The report offers market size and forecasts for global agritech market are provided in terms of value (USD) for all the above segments.

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Market Overview:

The Global AgriTech Market size is estimated at USD 18.24 billion in 2024, and is expected to reach USD 43.37 billion by 2029, growing at a CAGR of 16.63% during the forecast period (2024-2029).

The Agriculture Market is expanding rapidly due to the increased usage of innovative technologies in the agriculture sector. The integration of numerous digital solutions, such as precision farming, remote sensing, and IoT devices, has transformed agricultural methods. These tools enable farmers to monitor crop conditions, optimize irrigation systems, and effectively manage resources.

Furthermore, rising global population and food demand have prompted the use of novel farming practices to increase productivity and sustainability. Farmers benefit from smart agriculture in a variety of ways, including increased production, decreased waste, more effective resource usage, and higher profitability. Furthermore, government support for improving agricultural techniques is fuelling market expansion. Various programs, such as subsidies for smart agricultural tools and equipment, are pushing farmers to use this technology.

The worldwide urge to feed a growing population is driving the development of AgriTech solutions to improve agricultural productivity and efficiency. Climate change and sustainability issues encourage eco-friendly and resilient farming practices, which align with AgriTech solutions.

This agricultural technological innovation employs big data to improve management decisions, allowing farmers to optimize crop yield by controlling variables such as moisture level, soil condition, and microclimates. It uses remote sensing technologies, drones, robotics, and automation to improve crop health and maximize agricultural resources, resulting in higher productivity.

AgriTech’s automation and robotics capabilities help to alleviate labor shortages, while government subsidies and legislation encourage farmers to engage in technology adoption. Consumer demand for food supply chain transparency drives the deployment of blockchain and traceability technologies.

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Market Trends:

Market Trend 1: The growing adoption of precision agriculture serves as a key driver for market growth.

The precision agriculture industry is expanding rapidly, driven by increased demand for optimum farming solutions and sustainable practices. Key market drivers include technology developments in IoT, AI, and remote sensing, as well as an increasing emphasis on resource efficiency and crop production improvement. Market penetration is increasing, notably in developed regions, while usage is growing in emerging economies. The primary focus is on integrating cutting-edge technologies to increase farm production and sustainability. High prices and technological complexity make widespread adoption difficult, particularly for smallholders. However, the market’s potential is enormous, with several prospects for innovation and expansion within the global agricultural scene.

The growing use of precision agriculture is a major driver of growth in the AgriTech industry. Precision agriculture is the practice of monitoring and managing field variability in crops and livestock using advanced technology such as GPS, IoT sensors, and data analytics. This strategy enables farmers to optimize inputs like water, fertilizer, and pesticides, resulting in more efficient and sustainable farming operations.

Precision agriculture provides a solution for farmers faced with the simultaneous difficulties of rising operational expenses and the requirement to provide more food for a growing population. This technology assists farmers in increasing agricultural yields, reducing waste, and minimizing environmental impact by allowing them to make data-driven decisions. The ability to accurately allocate resources based on real-time data leads to increased productivity and cost savings.

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Market Trend 2: North America is expected to dominate the Global AgriTech Market.

The North American region is expected to account for the greatest part of the worldwide agritech market, owing to the continued contribution of tech titans to technical advancements and market competitors’ increasing proclivity to engage in mergers and acquisitions.

The region benefits from a strong research and development environment, which includes various agricultural research facilities and universities that promote innovation. Significant venture capital investments in AgTech firms drive growth, which is aided by government funding through a variety of federal and state initiatives that encourage agricultural research and technology use.

Tech hubs and agritech incubators, which stimulate innovation and attract talent and finance to the sector, are particularly prevalent in Silicon Valley and the Midwest. Large-scale commercial farming enterprises were among the first to use agritech in the region. These companies use precision agriculture technologies, big data analytics, and sophisticated gear to boost crop yields, cut costs, and improve sustainability.

Precision agriculture usage is driving the regional market expansion. Precision agriculture technology, including as drones, sensor-based systems, and GPS-guided tractors, has gained widespread use in North America. Using this technology, farmers can maximize crop yields while lowering input costs and increasing total farm production.

Competitive Landscape:

The AgriTech market is largely fragmented due to its diversity and the presence of numerous players, certain segments may experience consolidation as larger companies seek to strengthen their competitive positions. This dynamic creates a competitive landscape where innovation thrives, but it also presents challenges for smaller firms to scale and compete effectively.

During the study period, market companies are also engaged in mergers and acquisitions, and alliances are aimed at increasing their market share. During the forecast period, the market has growth opportunities, which are expected to increase competition. However, as a result of product innovation and technical advancement, mid-size to small enterprises are extending their market presence by winning new contracts and entering previously unexplored markets are among the global market’s major players. To acquire a competitive advantage over their rivals, the corporations are working on a variety of strategic activities such as new product development, partnerships, collaborations, and agreements.

Major Players:

Bayer AGCorteva AgriscienceSyngentaTrimble Inc.AG Leader TechnologyDeere & Company (John Deere)Indigo AgricultureFarmer’s EdgeGrower’s EdgeNutrien

Recent Developments:

In March 2024, Corteva, Inc. has announced the introduction of Corteva Catalyst, a new investment and collaboration platform aimed at acquiring and bringing to market agricultural technologies that advance the company’s R&D priorities and generate value. Corteva Catalyst will collaborate with entrepreneurs and innovators to expedite the development of breakthrough early-stage technologies that will allow farmers to produce more food and feed on a sustainable basis.In February 2024, Syngenta Group, one of the world’s top agricultural technology businesses, announced significant agreements after the introduction of its innovation accelerator platform, Shoots by Syngenta, in 2023. These alliances, which bring together experts from several businesses and sectors, aim to accelerate the development of creative solutions to agricultural difficulties.In February 2023, ForGround by Bayer has announced the addition of three new companies to its growing network of resources and expertise to assist farmers in successfully adopting and implementing regenerative agriculture practices: Great Plains Ag, Sound Agriculture, and EarthOptics. These innovative enterprises can assist farmers in gaining insights, additional benefits, and resources, allowing them to accelerate and embrace new techniques.

About Pheonix Research

Pheonix Research is a market research and consulting company that provides research-based services to business executives and investment professionals so that they can make perfect business & competitive decisions with precision. We support entrepreneurs through distinguishable fact-oriented insights.

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Related Reports:

Global Electric Tractor Market

Global Electric Power Tiller Market

Precision Agriculture Market

Agriculture Baler Market 

Latin America Agriculture Equipment Market

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Media Advisory: Conference call for the release of the consolidated results of Quebecor Inc. for the third quarter 2024

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October 24, 2024

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MONTREAL, Oct. 24, 2024 /CNW/ – Pierre Karl Péladeau, President and Chief Executive Officer, Quebecor Inc. and Quebecor Media Inc. and Hugues Simard, Chief Financial Officer, Quebecor Inc. and Quebecor Media Inc. will hold a conference call on Thursday, November 7th, 2024, at 11:00 AM, following the release of Quebecor Inc.’s consolidated results for the third quarter 2024. Media are invited to access the call on a listen-only basis.

Conference call:

Quebecor Inc. reports third quarter 2024 consolidated results 
Thursday, November 7th, 2024, 11:00 AM

Call-in number:

1-877-293-8052 (Canada-US)

Participant code:

55218#

Speakers:

Pierre Karl Péladeau, President and Chief Executive Officer,
Quebecor Inc.    and Quebecor Media Inc.;

Hugues Simard, Chief Financial Officer, Quebecor Inc. and  
Quebecor Media Inc.

Anyone unable to attend this conference call may listen to the rebroadcast by phoning 1-877-293-8133 (Canada-US), conference access code 55218# and playback access code 0114601#. Available until February 5th, 2025.

The conference call is also available in audio webcast on Quebecor’s website at www.quebecor.com/en/investors/conferences-and-annual-meeting#Next-earnings-call

The Company

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor’s subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.

Québec-based Quebecor (TSX: QBR.A) (TSX: QBR.B) employs more than 11,000 people in Canada.

A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment, and entrepreneurship.

Visit our website: www.quebecor.com 

Follow us on X: https://x.com/Quebecor

SOURCE Quebecor Inc.

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Hyro Transforms Patient Care with AI-Powered Assistants and Cisco’s Webex Contact Center

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46 mins ago

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October 24, 2024

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Hyro’s AI seamlessly integrates with Cisco’s telephony and agent desktop infrastructure to create an intelligent, conversational call-routing system   

NEW YORK, Oct. 24, 2024 /PRNewswire/ — In a move poised to significantly improve patient access and support experiences across U.S. healthcare systems, Hyro, a member of Cisco’s partner ecosystem, today announced it will transform traditional contact center operations with its responsible AI-powered assistants. With this integration, Hyro’s platform purpose-built for healthcare integrated with Webex Contact Center and Cisco Finesse, aims to revolutionize and elevate healthcare operational efficiency for both patients and providers.

Hyro’s AI seamlessly integrates with Cisco’s telephony and agent desktop infrastructure to create an intelligent, conversational call-routing system. This eliminates frustrating long hold times and ensures callers connect with the most qualified specialist or live agent for their specific needs, delivering efficient and accurate support more quickly than ever before.

“By partnering with Cisco, we are ushering in a new era for healthcare contact centers. Our responsible AI-powered assistants are designed to not only streamline operations but also enhance the overall patient experience. This collaboration allows us to provide intelligent, efficient, and personalized support, ensuring patients receive the care they need without unnecessary friction,” said Israel Krush, CEO & Co-Founder, Hyro.

Intelligent Automation Takes Center Stage

This comprehensive solution addresses multiple areas of the healthcare enterprise, including employee-facing applications. Integrated with Webex Contact Center and Cisco Finesse, Hyro’s AI assistants efficiently manage a wide range of healthcare and IT tasks. Patients and employees receive clear, conversational guidance for tasks like appointment scheduling, IT ticketing, and password resets through AI-powered interactions. This allows live agents to concentrate on complex issues and provide more tailored support, enhancing overall contact center experience.

Security and Efficiency Through Seamless Integration

Hyro’s platform seamlessly and safely integrates with existing systems such as EHRs, CRMs, and IT desktop tools. This secure access allows AI assistants to personalize interactions and provide accurate information based on real-time organizational data. Additionally, callers are identified before receiving assistance, ensuring a secure and personalized experience throughout their call. Furthermore, integration with Webex Contact Center and Cisco Finesse enables seamless and contextual transfer of calls to agent desktops, enhancing overall efficiency and customer satisfaction.

Unlike traditional AI solutions, Hyro’s platform effortlessly adapts to Cisco’s telephony packages. This eliminates the need for complex AI training or time-consuming bot flow creation. Organizations can enjoy a smooth and efficient implementation, allowing them to see significant results quickly. Use of Hyro’s AI assistants are subject to Hyro’s privacy practices and usage terms.

Effortless Implementation, Measurable Results

Health systems such as Intermountain Health, leveraging Hyro and Cisco’s joint solution, have witnessed an 85% reduction in call abandonment rates and a 79% improvement in speed to answer. Furthermore, by automating repetitive calls, Intermountain has achieved a 35% decrease in operational costs and a fivefold return on investment.

“Hyro’s smart routing, integrated with our Cisco telephony system, has revolutionized our call center performance. We’ve experienced an 85% reduction in call abandonment and a 79% increase in speed to answer. This partnership is a game-changer for our patients and support teams, allowing us to focus on delivering exceptional care. That’s what truly matters.” – Craig Richardville, former Chief Digital and Information Officer, Intermountain Health

About Hyro

Hyro, the leading Responsible AI-Powered Communications Platform for healthcare, enables health systems to safely automate workflows and conversations across their most valuable platforms, services, and channels—including call centers, websites, SMS, mobile apps, and more. Hyro’s clients, which include Intermountain Health, Baptist Health, and Hackensack Meridian Health, benefit from AI assistants that are fully HIPAA-compliant, fast to deploy, easy to maintain, and simple to scale—generating better conversations, successful patient outcomes, and revenue-driving insights. To learn more, visit hyro.ai

This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com.

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SOURCE Hyro

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A New Era for SMS: An AI Solution by CIRRUS Intelligence in 2025

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46 mins ago

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October 24, 2024

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MIRABEL, QC, Oct. 24, 2024 /CNW/ – CIRRUS Intelligence, a pioneer in integrating artificial intelligence (AI) into Safety Management Systems (SMS), announces the development of a new autonomous solution designed to automate the processing of safety reports in the aviation industry.

Developed in collaboration with MILA, a world-renowned AI research institute, this platform integrates the latest technological advancements to meet the growing needs of safety management. It aims to significantly reduce report processing times and enhance the quality of the generated information. With an intuitive interface, it offers a seamless user experience and adapts to the diverse needs of companies.

The platform’s launch is scheduled for 2025. It will be accessible to a wide range of carriers, regardless of company size or operational complexity. CIRRUS Intelligence is currently seeking carriers interested in participating in the platform’s beta phase.

“Safety management often presents a significant challenge for carriers. With this in mind, we developed this solution in collaboration with MILA. Our goal is to make safety management more accessible while allowing each company to adapt it to the specific needs of their operations.” — Olivier Richer, General Manager of CIRRUS Intelligence

The solution will be offered in two versions: a “freemium” version for smaller users and a custom version for large enterprises. The free version will include a set of essential tools, facilitating the management of basic safety aspects. The team is already working on advanced features to address more complex challenges and further optimize safety processes, while remaining adaptable to various types of operations.

About CIRRUS

CIRRUS Intelligence specializes in digital solutions for the aviation industry, with a focus on safety management systems and compliance. By integrating advanced technologies such as artificial intelligence, CIRRUS offers efficient and accessible tools that allow carriers to optimize their operations while maintaining high safety standards. To learn more about CIRRUS Intelligence and its services, visit https://cirrusintelligence.ca/en/. You can also follow @cirrusintelligence on Instagram for the latest news and updates.

About MILA

MILA, the Quebec Artificial Intelligence Institute, is a world-renowned research center specializing in deep learning. With over 1,400 researchers and experts, MILA focuses on areas such as health, environment, and AI ethics. The institute stands out for its open science approach, promoting collaboration to accelerate knowledge transfer, and maintains industrial and academic partnerships on a global scale.

SOURCE CIRRUS Intelligence

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