Smart agriculture in Latin America – statistics & facts

The Latin American agritech business landscape

The number of agricultural technology enterprises in Latin America has more than quadrupled in the past decade, reaching over 540 businesses as of 2019. At that point in time, Brazil and Argentina were the countries with the largest share of enterprises, concentrating nearly three quarters of the region’s companies. And this trend shows no sign of slowing down, with new ventures being developed throughout Latin America. In Brazil alone, 13 new AgTech venture capital deals were reported in the first semester of 2020, the fourth most popular sector for investments in the period.

Precision agriculture market

One of the main segments of smart farming enterprises in Latin America is the precision agriculture market. This approach to crop production makes use of specialized equipment, such as satellites and drones, as well as sensor data in order to monitor the field conditions in real time and guide the decision making process, resulting in an increase of productivity combined with a more sustainable use of resources. In Latin America, the precision agriculture market was forecast to surpass one billion U.S. dollars by 2021, with Argentina reporting the largest growth rate in the region in upcoming years.

Rising demand for monitoring devices

As the smart agriculture sector expands in Latin America, reaching a larger number of farmers, so does the demand for monitoring devices. The market value of drones for agricultural use in the region is forecast to more than triple between 2018 and 2023. In half a decade, the livestock monitoring system market is expected to double in value, a trend also projected for the revenue of navigation satellites systems for agricultural use. One thing is certain, the digitalization of the Latin American agricultural sector is only just beginning.

This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.