STUDY SHOWS MACHINERY IS LARGEST SECTOR OF THE AG INDUSTRY
Jul. 30, 2014
Source: UK Agri-Food & Drink news release
A new report outlining the state of global agri-technology has been released.
The report produced by UK Agri-Food & Drink (UKAFD) Ltd, is the first of its kind and the first of what will be an "Annual Index for Global Agri-Technology," designed to provide businesses in the sector with a complete overview of the agri-technology industry which will help them to identify current and future domestic and international trends and opportunities.
Machinery, according to the new report, has been identified the largest sector globally in terms of sales, employment and number of companies.
The agricultural machinery sector is becoming more important with growing concerns over future food security; new technologies can help improve yields, planting, harvesting, milking and in post-harvest technologies through reducing waste.
Farmers and agricultural companies are investing more worldwide in new machinery to stay up to date and achieve better returns.
UKAFD have been working with kMatrix, the market intelligence providers; using their 'profiling' method of data collection to collate the most up-to-date figures for the global agri-technology industry.
"The agri-technology sector has always been a difficult one for governments and researchers to segment and measure; it overlaps so much with other industries that it is often measured at either end of the supply chain - primary produce and food and drink production," said UKAFD's Ben Salisbury.
"But by using kMatrix's profiling system and global data sources we've been able to break it down, into 18 main sub-sectors, to cover the sector fully."
These sub-sectors are:
*Animal Health & Welfare,
*Education & Training,
*Environment & Sensor Technologies, Infrastructure & Logistics,
*Soil and Crop Production and,
And in some cases the larger activities have been sub divided for further analysis, creating a total of 25 distinct Agri-technology sub-sectors.