The use of advanced farming will result in better crops and will reduce the load on farmers. As per the study, technology has raised expectations among end-users to enhance production and improve the conditions of field. This expectation is driving the market for new applications in agriculture and animal harvesting. In addition, one of the major drivers for advanced farming is the dependency of the farmers on the GPS technology. GPS technology is mostly used in agriculture field to monitor soil condition, tracking of the livestock, tractor monitoring, and VRT. Americas is the leading region in the usage of advanced farming followed by Europe and Asia Pacific. Witnessing a wide adoption of advanced farming across various users, the market is expected to grow at a CAGR of 13.4% during the period 2016–2022”.
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The report analyse the market by technologies, the major share of the revenue comes from high precision positioning systems (28.85%) followed by VRT (20.43%) in 2016. The growth in the technologies has led to the overall growth of market with the VRT market predicted to reach $2.31 billion by 2022 from $1.08 million in 2016, at a CAGR of 13.5%. The report analyse market by applications, the major share of the revenue comes from livestock farming (31.23%) followed by Horticulture (21.77%) in 2016. The growth in the applications has led to the overall growth of market with the livestock farming predicted to reach $3.32 billion by 2022, at a CAGR of 13.4%.
Advanced Farming is turning to be key revenue pocket for farmers, policy makers, and agri-business makers. However, facing challenges and dynamic issues for building sustainable farming system – as there is no unique system/technology, its subjective to the farmers adopting appropriate technology within suitable farming policy framework.
Private investment in the field of agriculture will drive the market for next five to six years. Moreover, developing regions will be having high growth due to increasing demand and presence of large agriculture fields. Advanced farming market is expected to witness a healthy growth in the emerging markets of Asia Pacific and Africa in near future. Hence, there is an opportunity for cloud and analytics in farming.
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The agriculture sector feeds around 7.5 billion people that require proper lands and fresh water. However, with the increasing pollution, the environment is changing and resulting in damage of crops and is leading to the change in the life cycle of plants and animals. Thus, one way to address this issue of agricultural production is to use sensing technology to make intelligent farms. Advanced farming is about utilisation of right technology to improve the cultivation regardless of using chemicals. The use of advanced farming will improve monitoring of crop health and animal, quality of the filed, improvement in soil (moisture and fertility), and yield production. It also helps in reducing wastage on the field and improves the efficiency of land and the crop.
The usage of technologies improves decision making process in agriculture. Escalating the demand of the food supply chain has mandated the utilisation of the agriculture resources. With this, the regulatory bodies have also started developing rural areas by setting up new infrastructure to ensure the benefits of the development in these areas.
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