In a recent published report, Kenneth Research has updated the market report for Advanced Farming Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Advanced Farming Market products.
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The agriculture sector feeds around 7.5 billion people that require proper lands and fresh water. However, with the increasing pollution, the environment is changing and resulting in damage of crops and is leading to the change in the life cycle of plants and animals. Thus, one way to address this issue of agricultural production is to use sensing technology to make intelligent farms. Advanced farming is about utilisation of right technology to improve the cultivation regardless of using chemicals. The use of advanced farming will improve monitoring of crop health and animal, quality of the filed, improvement in soil (moisture and fertility), and yield production. It also helps in reducing wastage on the field and improves the efficiency of land and the crop.
The usage of technologies improves decision making process in agriculture. Escalating the demand of the food supply chain has mandated the utilisation of the agriculture resources. With this, the regulatory bodies have also started developing rural areas by setting up new infrastructure to ensure the benefits of the development in these areas.
Infoholic analyst estimates the advanced farming market to witness a CAGR of 13.44% during the forecast period 2016–2022. Some of the players included in the report are Trimble Navigation, AGCO Corp., John Deere & Company, Raven Industries, and Agjunction Inc. The advanced farming market is segmented by technologies, applications, services, deployment, and regions. The reports also talks about the investment done in all the regions by private and public sector. In regions, Americas is expected to be the biggest market in terms of revenue contribution while Asia Pacific and the Middle East & Africa (MEA) are expected to expand the market in the upcoming years.
The study covers and analyses “Global Advanced Farming Market”. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative and technologies related to the market. In addition, it will help the venture capitalist in understanding the companies better and take informed decisions.
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