Advanced farming is termed as an information
technology(IT) based farming management to examine, manage, and identify the
inconsistency in the fields for projection, optimal profitability, and
sustainability of the land resource. It provides benefits for both environment
and economic sectors for instance reducing the use of fertilizers, pesticides,
water, and herbicides by using the farm equipment. Some characteristics are
value chain, robotics farming, M2M & IOT in agriculture and increase in
livestock farming. Some of the major drivers are observing the plant &soil,
saving time & cost in the production of crops, providing enhanced
information for management decisions, and reducing the exploit of excess
run-off water.
According to study, “Advanced
Farming Market Technologies (VRT, Remote Sensing, HPPS, IEC, Automated Steering
Systems), Applications (Fleet Management, Horticulture, Aqua, Forest, and
Livestock Farming), and Services Global Market Drivers, Opportunities,
Trends, and Forecasts, 2016-2022” some of the major companies that are
currently working in the advanced
farming market are Trimble Navigation, Raven Industries, AqJunction, Deere
& Company, AGCO Corp., 8villages, AqDNA, Microsoft Corp., Aqribotix, Strider,
Valmount Industries Inc., Cisco Systems, AgJunction, BovControl, Smart
Fertilizer Management, FTI Pty Ltd., Intel Corporation, IBM Corp., Yara, Thing
Worx, Blue River Technology, Growing Smart.
Based on the technologies, the market is
segmented into High Precision Positioning Systems (HPPS), automated steering
systems, remote sensing, Variable Rate Technology (VRT) and Integrated
Electronic Communication (IEC). HPPS and VRT help the farmers to take up to
date decisions for instance when, where and how to harvest the crop &
increase the yield. Most of these systems are interlinked by the farming
management systems (FMS). Based on the application, the market is segmented
into horticulture, forest farming, fleet management, aqua farming, livestock
farming and others. Based on the services, the market is segmented into
training & consulting services, integration services and maintenance
services. Based on the deployment model, the market is segmented into cloud
deployment model and local deployment model.
The market of advanced farming is mainly driven
by increasing need for environment friendly farming techniques, increasing
support from United Nation's (UN), convergence of modern technologies, rising
demand for farm management software and growing food requirement. Apart from
advantages, some of the restraints of the market include lack of IT literacy by
farmers, lack of proper knowledge, high initial investment costs, changing
climate conditions, insufficient internet connectivity and improper IT
infrastructure. Moreover the connected farms use big data analytic solutions
and drones & robots to increase the yield of the market. In future, it is
predicted that the underdeveloped markets will adopt new technology techniques
followed by the use of advanced farming techniques are expected to create a
huge impact on the farming economy by bridging the gap between small &
large-scale businesses. This trend will not only prevail in the developed
countries but will also be implemented in the developing countries to realize
the immense importance of the advanced farming techniques.
During 2016-2022 predict periods, the advanced
farming market is anticipated to witness a CAGR of 13.44%. It is projected that
this market will be growing fast on account of rising need for the water
management systems.
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