NAICS 115 - Support Activities for Agriculture and Forestry
Industries in the Support Activities for Agriculture and Forestry subsector provide support services that are an essential part of agricultural and forestry production. These support activities may be performed by the agriculture or forestry producing establishment or conducted independently as an alternative source of inputs required for the production process for a given crop, animal, or forestry industry. Establishments that primarily perform these activities independent of the agriculture or forestry producing establishment are in this subsector.
Industry trends:
In recent years, the Support Activities for Agriculture and Forestry industry (NAICS 115) has undergone significant changes driven by advancements in technology and shifts in consumer demand. A prominent qualitative trend is the increased adoption of precision agriculture and forestry management techniques. These technologies, including drones, GPS mapping, and IoT sensors, are enabling more efficient resource use, better crop yields, and improved forest management practices. As a result, businesses in this industry are seeing enhanced productivity and cost-efficiency.
Another key trend is the rising emphasis on sustainability and environmental stewardship. Consumers and regulatory bodies are increasingly prioritizing eco-friendly practices, pushing companies to adopt more sustainable methods for soil health, water conservation, and biodiversity protection. This trend is expected to gain momentum, with companies investing in sustainable technologies and practices to meet these growing demands.
Looking ahead, the forecast suggests continued integration of advanced technologies such as artificial intelligence and machine learning in support activities for agriculture and forestry. These technologies are expected to further revolutionize the industry by providing actionable insights and automating complex decision-making processes. Additionally, there is likely to be an increased focus on data-driven strategies, leveraging big data analytics to optimize operations and improve decision-making.
Overall, companies engaged in support activities for agriculture and forestry are anticipated to experience transformative growth by embracing smart technologies and prioritizing sustainable practices, aligning with evolving market and regulatory landscapes.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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