Precision Agriculture – a smart way towards smart farming
Penetration of Internet of Things (IoT) in agriculture has dramatically transformed the conventional agriculture to connected agriculture.
Precision farming has attracted media attention recently due to high tech advancements in the field and penetration of disruptive technologies such as Internet of Things (IoT) and Artificial Intelligence (AI). Precision agriculture has transformed conventional farming methods to digital techniques with an aim to optimize the production, enhance quality, and conserve natural resources. The increasing population and need for more food have initiated the need for smart and highly advanced farming. This modern agricultural technique hold promises for future yield improvement and profit earning. The precision farming involves the sensor integration, big data analysis, satellite navigation systems such as GPS, telematics, and software platforms. The advent of IoT has majorly simplified the process of modern farming. Though the cost associated with this technological farming is high, government and environmentalist are taking initiative by offering subsidies and undertaking new projects. Moreover, the adoption of precision agriculture is driven by the sensor miniaturization, price falls and enhanced connectivity. However, the data security and privacy issues, technically unskilled farmers, and unawareness about the Return on Investment (ROI) in rural areas have slow down the adoption of precision farming in many developing countries. United States is in the forefront of the precision farming market and countries with high population such as China and India hold high growth potential. Precision agriculture has also triggered the need for precision irrigation and works in accordance with each other. The major enabler factor for the growth of precision irrigation is the water conservation need. The sophisticate and systematic irrigation methods have the potential to use water in right place and right amount to prevent excessive water run-off. High tech irrigation equipment provider are strategizing their product for gaining maximum yield from less input resources. Vertical farming is another significant technology development in the field of agriculture. This technology is expected to solve the hunger problem of the growing population by upward farming. The vertical farming technology hold potential of yielding crops multiple times compared to traditional farming. However, the adoption of vertical farming is slow due to the lack of uniform farming practices, variable weather conditions, lack of crop varieties and unskilled labors.
Though precision farming, irrigation and vertical farming technologies have the prospective to change the future of agriculture, the players in this market are facing several challenges. M14 intelligence has researched this technology deeply and come up with the strategic solution of all the issues. Our comprehensive and exhaustive research study on Precision Agriculture, Precision Irrigation, and Vertical Farming helps you to identify the changing dynamics of agriculture industry, investment opportunities, future growth prospect, and strategic competition among the leading players.