ICT, chemicals, hydroponics and aquaculture inputs are augmenting profits for farmers, finds Frost & Sullivan's Visionary Science team
SANTA CLARA, California, Feb. 1, 2017 /PRNewswire/ -- Smart agriculture is rapidly rising in the global agriculture industry as arable land continues to shrink at an alarming rate. Farmers in rural areas and commercial establishments in cities are turning to smart agriculture to maximize yield with minimal agricultural inputs. Smart agriculture enhances product quality, reduces wastage and ensures overall higher profits for the farmer, by integrating farming tools with numerous technologies that aid decision support, farm monitoring and crop management.
Analysis of the Smart Agriculture Technology Market, from Frost & Sullivan's Future of Agriculture & Nutrition Growth Partnership Subscription, explores sensors, intelligent networks, unmanned vehicles (ground and aerial), and robots that enable customized application of critical inputs (crop chemicals, fertilizers, farm labor) in agriculture. Innovation is the strongest in Asia-Pacific due to the region's need to feed a rapidly growing, progressively more affluent population.
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"Remarkable innovations in allied industries such as ICT, chemicals, hydroponics and aquaculture have resulted in a slew of innovative, smart agriculture technologies," said Frost & Sullivan Agriculture & Nutrition Global Director Christopher Shanahan. "Some of the high-potential technologies under development include farming apps that provide data for on-field activities, roof-top farming technology in land-scarce regions, and monitoring systems that record information and place it in a cloud for further access."
Collaborations with technology companies have enriched smart agriculture solutions' capabilities and resulted in path-breaking tools, such as:
- Agriculture drones for efficient monitoring to reduce farmers' dependence on manual labor,
- Sensor fusion to aid in identifying, understanding and utilizing information that quantifies variations in soil and crop within agricultural fields, and
- Autonomous farming solutions to turn large swathes of inaccessible land in poor economic areas to useful prospects for arable farming.
Prime examples of symbiotic partnerships across industries are John Deere's partnership with a digital company and SK Telecom's collaboration with the Ministry of Science, startups and government agencies to roll out SK-patented IT for smart agriculture.
"Consumers are increasingly demanding nutritious, ethically produced food and beverages that are free from pollutants, allergens or over-utilization of socially valuable natural resources," noted Shanahan. "These value-added foods are offered only at a premium now, but smart technology can make them available to all sections of consumers by ensuring sustainability as well as high and efficient yield/production."
Related topics covered under the Frost & Sullivan subscription include: processed food and beverage, Omega-3 EPA+DHA ingredients, dehydrated food, probiotics, industrial bioprocessing, resistant or modified starch, and natural sugar alternatives. All studies provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Smart Agriculture Technology Market
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