Food Security Technology Market Overview:
According to a new report published by Maximize Market Research titled Food Security Technology Market by Intelligent Virtual Assistant, End User, Distribution Channel, Price, and Geography: Industry Analysis and Forecast (2021-2027).
Research assists decision makers in devising strategies and plans for their regions by analysing trends in the market, the industry environment, dominant characteristics of the market, and their short- and long-term ramifications.
The research analyzes the impact of COVID-19 lock-down on the income of industry leaders, followers, and disruptors. The impact varies by region and segment because lockdown was implemented differently in different locations and countries. The current short and long term market impact has been covered in the research, which will assist decision makers in preparing the framework for short and long term strategies for enterprises by region.
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Food Security Technology Market Dynamics:
The key factors driving the growth of the Food Security Technology Market are rising population and decreasing land availability. Food security technology is rapidly evolving as a result of new farming concepts and innovations. This will be a difficult opportunity to expand the Food Security market. Furthermore, the introduction of smart sensors, robotic automation, digital data, and many big incumbents in the field of food security technics, as well as growing applications of technologies in food security, drives the growth of the food security technology market in terms of value sales. Growing demand for organic food also contributes to the expansion of the food security market.
Governments are making efforts to assist farmers by implementing programmes that make agricultural technologies more accessible and affordable. During the forecast period, it is expected to have a significant impact on the Food Security Technology Market. There are some drones and sensors on the market that collect data around the fields 24 hours a day, seven days a week and provide details about temperature, rainfall, soil, and humidity. Cellular technology is rapidly being used to examine and operate crop irrigation methods in today's world. So that farmers can control their irrigation systems from their phones rather than going out into the field.
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Food Security Technology Market Segmentation:
The Micro Irrigation segment, by Technology, is expected to grow at a CAGR of 9.3 percent during the forecast period. The efficiency with which water is used in drought-prone areas, as well as rising government subsidies, are some of the major factors that are expected to drive the Micro Irrigation segment.
The Bio Seeds segment is expected to be worth USD 1.9 billion in 2027, with a CAGR of 11.99 percent over the forecast period. The increased ban on chemical pesticides in major countries has increased demand for the growth of the biological seed market.
Food Security Technology Market Key Players:
- BASF
- Kraft Foods Inc.
- Mahindra and Mahindra
- Cargill
- Bayer CropScience AG
- Novozymes
- Nestle
- DuPont Pioneer
- J. Heinz
- John Deere
COVID-19 Impact Analysis on Food Security Technology Market:
Consumer and demand movements, purchasing behaviour, supply chain transformations, and current market power dynamics are examined in the report. The impact of COVID-19 on the Food Security Technology market, as well as insights, analyses, estimates, and predictions, are discussed in this updated report. In this report, we examine the impact of COVID-19 lockout on market leaders, followers, and disruptors. Based on the way the lockdown was implemented, the impact varies by location and region.
Food Security Technology Market, Key Highlights:
- The report provides analysis and projection of the Food Security Technology market in terms of value.
- Market drivers, constraints, and opportunities driving the growth of the Food Security Technology Market are all examined in depth.
- The Food Security Technology Market has been segmented based on Intelligent Virtual Assistant, End User, Distribution Channel, Price, and geography (country-wise).
- This report analyses the Food Security Technology Market with respect to individual growth trends, future prospects, as well as the contribution of various submarket stakeholders.
- Analysis and forecasts for the Food Security Technology market for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-level segmentation.
- A profile of key industry participants and an analysis of core competencies are included, in addition to strategic perspectives, market positioning, and analyses of core competencies.
- The top companies active in the Food Security Technology Market are profiled in terms of their competitive advancements, investments, strategic growth, and competitive landscape.
About Maximize Market Research:
Maximize Market Research, an industry research firm with a dedicated team of specialists and data, has conducted comprehensive research on the Food Security Technology market. Maximize Market Research provides B2B and B2C research on 6,500 high-growth, emerging technologies for the chemical, healthcare, pharmaceutical, electronics, Internet of Things, food and beverage, aerospace, and defence industries. Maximize Market Research analyses the competitive landscape of sectors in addition to evaluating and estimating market size.
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Technology Security MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Technology Security Market.
MRFR insights suggest that the global operational technology security market is expected to thrive at a lucrative 42.2% across the forecast span of 2018 to 2025.The growth of the operational technology security market can be attributed to increase cases of data breach, surge in cyber threats, convergence of IT and OT ecosystems, and increase in dependence on legacy systems.
The growing rate of adoption of the industrial Internet of Things (IIoT) solutions by enterprises can contribute to the expansion of the operational technology security market across the forecast period.
The surge in the adoption of OT security solutions by enterprises can prompt the expansion of the market.
On the contrary, mounting complexities of systems and lack of expertise can restrict the expansion of the OT security market in the years of assessment.Segmental AnalysisThe global market of OT security market is segmented by deployment mode, industry, and component.By component, the market is segmented into services and solutions.
The services segment is sub-segmented into managed services and professional services.
