BIS Research - Emerging Technology Market Intelligence

3 Technologies Shaping The Future Of Agriculture

Jun 23, 2015 6:46:39 AM / by yash

It would be safe to say that no other industry comes close to Agriculture with regards to having such a colossal contribution to the lives of the people. As times and demographics have changed either for good or for the worse, the Agriculture industry has only developed further in terms of technology, innovative practices and, efficient and productive techniques.

In the past few years, there have been a few very promising advancements that can be banked upon to  feed the estimated 9 billion populations come 2050.

  1. 1.      Precision Agriculture

The field is a sacred entity, while the farmer an artist. -Anonymous Precision Agriculture expert

global precision farming market

Precision Agriculture, unlike the conventional practices accounts for the variability in soil, crop, environmental factors, water and nutrients. Precision Farming is an area of farming techniques associated with management of variability of soil, nutrients, water, crop and environmental factors. In conventional agriculture practices, fields subject to farming are considered to be uniform and thus applied with uniform rates of agrochemicals and fertilizers. Precision Agriculture presents significant potential in enhancing food productivity while at the same time providing sustainable management of resources. The global precision farming market is estimated to grow at a CAGR of 13.09% from 2015 to 2022, to reach over $6.43 billion by 2022.

Increasing food productivity while providing sustainable management of resources makes Precision Agriculture indispensable for future agricultural practices.

  1. 2.      Drone Technology

Add drones to your kitty of on-field tools and you have a win-win situation. Unmanned Aerial Vehicles or Drones, hold the potential for making the lives of farmers’ simpler and farming ultra cool.

unmanned aerial vehicle market

Using drones the farmer can gather information from his field just by the push of a button. The cameras attached on these drones provide with live video and pictures of the field.

Drones will drastically enhance the decision making ability of farmers, helping them to make quick, efficient and informed decisions.

The unmanned aerial vehicle market development is moved by expanding interest for the UAVs in the Commercial and military segments. It has been estimated that annual spending on them around the world will increase by almost 70% to $11.95 billion by 2020 with a CAGR of 8.41% from 2015 to 2020

  1.  Hydroponics

This invention is as good as the battery operated vehicles that do not require any fuel (Petrol/Diesel) because Hydroponics does not require any soil.

 global hydroponics crop

Hydroponics is the fastest growing soil-less farming practice at a global level, wherein a tailored nutrient solution is used for the crop to attain its full growth with a superior quality in a sustainable manner. The technique introduced several advantages in terms of increased yield, higher returns on investment, and protected environment among others, attracting a larger share of producers as well as investors. The global hydroponics crop value is anticipated to grow from $18.8 billion in 2014 to $27.29 billion in 2020 at an estimated CAGR of 6.39 % from 2015 to 2020.

Whatever be the political, economic and social scenario surrounding us in the coming years, it is certain that the requirement of agriculture produce will increase. The transition from conventional agricultural practices has commenced and these technologies might as well prove to be its flag bearers.

Tags: precision agriculture market, global hydroponics crop, global precision farming market, unmanned aerial vehicle market, Market Research Report


Written by yash

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