Articles

AgriTech Market in China

October, 2019

AgriTech vendors help farmers to measure their level of production and assist in soil testing, which improves the entire ecosystem for farmers. Globally, governments are continuously focusing on a sustainable model for farming and earn maximum profits. With the presence of the highest number of technology innovators and market disruptors in the North America region, the adoption of AgriTech solutions is highest in the US. Several enterprises are focusing on enhancing the soil & seed quality and measure productivity with the usage of IoT, mobility, and connected networks.

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In China, natural disasters are among the major threats to agriculture. AgriTech helps to warn people of impending natural disasters, including hurricanes, and can calculate the payouts for typhoon insurance based on meteorological data. China United Insurance uses drones for delivering GIS, GPS, and remote sensing technologies for Chinese farmers. These data help the farmers to analyze soil and find the areas that require plowing.

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Biological innovations are also shaping up the Chinese AgriTech market. One major innovation was the development of flood- and drought-tolerant rice by a team of biologists in Qingdao. The cultivation of genetically modified rice has helped farmers to increase their crop production and to overcome extreme climate changes.

In China, AgriTech is in the early stage of adoption and is expected to be adopted across several regions in the coming years. On the other hand, technologies in the genetic production require rigorous tests and acceptability from government bodies for quality checks about the acceptability. The key component in the Chinese AgriTech market would be technology penetration to the farmers and the role of government to widespread the use of these technologies in their farming and crop cultivation. The market is expected to be competitive in future with local and global players offering high-quality products to farmers with a connected network of buyers, sellers, and technology providers.

– Arjun Das
ICT – Research Analyst
Infoholic Research