Smart Agriculture Market Will Reach $20.8 Billion by 2026

Northbrook, IL -- (SBWIRE) -- 10/26/2021 -- According to the research report "Smart Agriculture Market with COVID-19 impact analysis by Offering, Agriculture Type (Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse), Application, Farm Size, & Geography – Global Forecast to 2026", published by MarketsandMarkets™, the Smart Agriculture Market is expected to grow from USD 12.9 billion in 2021 to USD 20.8 billion by 2026; it is expected to grow at a CAGR of 10.1% during the forecast period. The smart agriculture market witnessed a decline in 2020 owing to the spread of COVID-19. The outbreak had adversely impacted the supply chain of the smart agriculture market, as some of the prominent players are based in China and the US, and these countries were the worst affected countries in the pandemic in the first half of 2020. The market is expected to witness a U-shaped recovery in 2021 with the rising demand for equipment and automation products in various applications, such as precision farming, precision livestock, precision aquaculture among others.