COVID-19 Impact on Vertical Farming in Semiconductors and Electronics Industry

COVID-19 Impact on Vertical Farming in Semiconductors and Electronics Industry

  • Semiconductors and Electronics
  • Oct 07, 2020

COVID-19 Impact on Vertical Farming in Semiconductors and Electronics Industry

The world is witnessing great impact on the human, economies, industries due to COVID-19. World Health Organization reports that death rate is increasingly continuously, globally. Due to its severe on global economy the government has taken decision of complete lockdown. This lockdown will help in minimizing the spread of virus. Due to this decision it has brutally effect all the industries.

Coronavirus disease 2019 (COVID-19) continues to spread across the world, causing many economies and industries, including agriculture, to face tough times. It has been reported by WHO that in May 2020, more than 3.2 million cases were reported in which 231,000 were deaths. WHO said that the case will continue to rise in the coming months across the world.

It is predicted that the COVID-19 pandemic will lead to a recession resulting from a fall in consumer spending alongside increasing unemployment. Due to the continuous losses in the tax revenue has adversely impact the economic activity of that particular country.

There are two major factors that help in reducing the effect of the COVID-19:

  • Collect sales tax revenue from remote sellers.
  • Portions of CARES that offers some funding to the unemployed workers and poor families, among others.

These ways help the government to slow the effect of recession and help local governments to budget cuts in 2020.

IMPACT of the COVID-19 VERTICAL FARMING MARKET

COVID-19 negatively impacts the pricing of the grain and cotton. The price of the rice has also highly impacted its import and export.

For instance,

  • In the U.S., the retailing sales price of the jumped to the 50% is due to shrinking in the fuel demand and low fossil fuel prices.

The non-availability of labor is major factor that adversely affect the agriculture operation. Due to this factor peoples start adopting indoor farming which may affect the growth of the vertical farming.

OPPORTUNITIES FOR THE MARKET IN COVID-19 SITUATION

Leading players of the vertical farming has an opportunity to increase their market share. The process of vertical farming has wide scope of the growth in the past few years. This pandemic situation provides a platform to the companies to boost their presence in the market.

Leading players of the vertical farming has an opportunity to increase their market share. The process of vertical farming has wide scope of the growth in the past few years. This pandemic situation provides a platform to the companies to boost their presence in the market.

For instance,

  • Aerofarms, the leading player of the vertical farming has adopted such agriculture practice for the indoor vertical farms which include face cover, safety gloves and glasses, and overcoat, wearing personal protective equipment including hairness. All these measures help the farms to safely grow crops.

CONCLUSION

The pandemic situation increased importance of vertical farming as it ensure the food security which the help the country to fulfill the demand for the crops during COVID-19. As it has been noticed that COVID-19 has major impact on the people health, the companies that involve in the vertical farming are adopting such measures which help them to grow the crops safely. The development of aqua- and hydroponics has increased level of the food security. Hence, the adoption of vertical has boosted the level of food security in this pandemic situation.

COVID-19 TRACKER

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