Samaddin Asadov: Global agritech market to reach $75B in 10 years

The global agri-tech market will reach $75 billion over the next 10 years, Deputy Minister of Digital Development and Transport Samaddin Asadov said at the 5th Agribusiness Development Forum held within the framework of Caspian Agro Week in Baku, Report informs.

According to him, the world is changing rapidly, and the agricultural sector is at the center of this change: "Behind this transformation stands a concrete reality. In 2025, the global agri-tech market has reached $25 billion, and calculations show that over the next 10 years, this figure will triple, reaching $75 billion."

He added that, according to UN calculations, the world must produce more food over the next 25 years than has been produced over the past millennia: "Yet resources are limited. Only data-driven technological solutions can make this possible. Today, digitalization is no longer a choice but a necessity. It is a key tool for increasing productivity, ensuring efficient use of resources, and making more agile decisions across all sectors of the economy. In particular, artificial intelligence has raised data analysis to a new level, creating opportunities for more accurate forecasting."