The Business Research Company’s Agriculture Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 19, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Shortage of labor and increasing demand for advanced agriculture tools in many countries is driving the demand for agriculture robots or agribots according to the agriculture market outlook in TBRC’s agriculture market report. Agribots are used in farmlands for pruning, weeding and spraying pesticides and herbicides. They are connected to tractors for spraying water, seeds, pesticides, nutrients and harvesting. For instance, Energid Citrus Picking Robot System picks an orange every two seconds from a tree, thus enhancing productivity and thereby limiting the need for agricultural labor.
Some of the companies providing agribots for effective and efficient productivity in agriculture are Small Robot Company, Naio Technologies, EarthSense, HETO Agrotechnics, Harvest Automation, PrecisionHawk, and BoniRob.
The agriculture market consists of sales of agriculture and related services by entities (organizations, sole traders and partnerships) that provide agriculture and related services such as animal and crop produce and other support services. Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibers, biofuel, medicinal and other products used to sustain and enhance human life. This market also includes horticulture and aquaculture. This market excludes proceeds from captive (internal) consumption of the agriculture and forest produce for further processing. The agriculture market is segmented into animal produce, crop production, and rural activities.
The global agriculture market size is expected to grow from $9.60 trillion in 2020 to $10.18 trillion in 2021 at a compound annual growth rate (CAGR) of 6%. Agriculture market research shows that the growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $13.13 trillion in 2025 at a CAGR of 7%.
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