While the use of agricultural technology or AgriTech in Thailand is still very much at its initial stage, KBank believes AgriTech will play a more prominent role in the country over the next 3 to 5 years, thanks to increasingly affordable technology and broader knowledge of its usage that becomes more available. These factors will enable AgriTech users at every level - from young smart farmers (YSF) and startups to large companies – to employ technological innovations in developing agriculture for both large- and small-scale farming.
KResearch views that Thailand should focus on AgriTech applications that are suited to the improvement of farming in confined space, as such ventures would create high value-added products and aid in overcoming the limitations of the regional climate. That said, success in such an effort would depend on several factors, including analyses of the market or target customers, the logistics system throughout the production line, capital and technology readiness, and location – all of which would affect farmers' long-term competitiveness and profitability.
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