CEA, Vertical Farming Among Forbes’ Top Ag Tech Trends to Watch

By Forbes|February 24, 2023

With the world population growing and becoming more urbanized, there is an increasing demand for food. This has led to a rise in the use of agricultural technology and innovations to meet and sustain the demand.

In a recent post on Forbes.com, Bryan Fried, President and CEO of PANGEA Global Technologies, says the ag tech market is booming, with no signs of slowing down. In 2021, the smart agriculture market was valued at $18.12 billion, and the market is projected to reach $43.37 billion by 2030, according to a report by Precedence Research.

“This year, I believe investment into ag tech will continue to evolve and be used in new ways,” Fried says in the article. “As the CEO of a company that provides technology solutions for indoor farming, I expect there to be new technologies introduced that will help farmers become more efficient with their time and resources, an expansion of what can be grown indoors, and an increased interest from universities that will spearhead industry-changing research.”

Fried highlights three areas of focus in his article:

Product category expansion in controlled environment agriculture
Universities becoming more involved
Rise of automated vertical farms

“With the current economic uncertainty, the investment pipeline might lag, but the good news is that agriculture is an industry that is not a ‘nice to have’; it’s a ‘need to have’ if we want to be able to feed the world,” Fried says. “Leaders in the agriculture space should take action and stay informed by researching trends to see what the future might hold.”