The agricultural sector stands at a critical juncture, poised to redefine itself through the embrace of new farming techniques. As the world grapples with burgeoning populations and diminishing agricultural land, the urgency for innovative, sustainable practices has never been more pronounced. This necessity catalyzes the growth of a dynamic market centered on precision farming, hydroponics, vertical farming, and organic farming, among other advanced methodologies. These technologies herald a new era of agricultural production, characterized by enhanced food security, environmental stewardship, and economic viability.
According to a World Bank report, the global agricultural technology market is predicted to surge by a staggering 12.1% annually, reaching a value of $26.6 billion by 2025.
Key stakeholders in this transformative landscape include pioneering technology providers, forward-thinking agricultural enterprises, and cutting-edge research institutions.
As the global demographic landscape evolves, with predictions of a world population exceeding 9 billion by 2050, the adoption of new farming techniques becomes not just advantageous, but essential.
Planting preparation is the foundational phase in the farming cycle, where meticulous planning and execution lay the groundwork for a flourishing crop. This phase encompasses a series of steps, each tailored to optimize the conditions under which plants will grow.
According to the BIS Research report, the global powered agriculture equipment market was valued at $57.39 billion in 2021, which is expected to grow with a CAGR of 5.02% and reach $73.32 billion by 2026.
Loosening the soil with tools like plows or tillers creates a good environment for root development, drainage, and air circulation. This step also helps incorporate any amendments you've added.
Genome editing, particularly through CRISPR-Cas9 technology, represents a revolutionary approach in agricultural science. This technique allows for precise alterations to the DNA of seedlings, enabling the development of crops with enhanced traits such as improved yield, resistance to pests and diseases, and tolerance to environmental stresses.
By targeting specific genes, scientists can create crops that are better suited to the demands of modern agriculture and changing climate conditions.
The advent of CRISPR technology has transformed the field of genome editing by reducing the turnaround time and complexity, enhancing accuracy, efficiency, and safety, and encouraged numerous innovations.
Synthetic seeds are artificially created seeds that do not originate from sexual reproduction but are produced in a laboratory setting. These seeds can be engineered to embody specific traits of interest, such as disease resistance or increased nutritional value. The use of synthetic seeds can also facilitate the conservation of plant species that are difficult to propagate through traditional methods, ensuring biodiversity and resource sustainability.
Seed priming is a pre-sowing strategy used to enhance seed germination and vigor. Through controlled hydration, seeds are partially activated, which speeds up the germination process once they are planted. This technique can improve the uniformity of emergence, increase stress tolerance during germination, and lead to better crop establishment and yields.
Smart seed sowing machines are equipped with precision planting technology that ensures seeds are sown at the optimal depth and spacing. Integrated with GPS and data analytics, these machines can variably rate seed planting across different field zones based on soil conditions and historical yield data, optimizing seed placement for maximum growth potential.
Biodegradable seed tapes contain seeds at predetermined intervals, encased in a biodegradable material. This innovation simplifies planting, ensures consistent spacing, reduces labor, and minimizes seed waste. It's especially beneficial for small seeds that are challenging to sow manually, enhancing planting accuracy and efficiency.
Enhanced seed coatings involve applying a protective layer around the seed to improve its germination rate and provide early life-stage nutrients. These coatings can also include pesticides or fungicides to protect the seed from soil-borne diseases and pests, boosting the survival rate and overall health of the emerging seedlings. As mentioned in the BIS Research report, some of the prominent names in this market are:
• Sensient Technologies
• Smith Seed Services
• Michelman, Inc.
• Precision Laboratories
• Keystone Aniline Corporation
• Germains Seed Technology
Advanced sorting and packaging technologies use optical sensing and automation to classify seeds based on size, color, and quality. This ensures that only the healthiest and most viable seeds are selected for packaging and sale, improving crop quality and yield for the next planting season.
Cold storage solutions are crucial for preserving seed viability over time. By controlling temperature and humidity levels, these storage methods prevent the deterioration of seeds, maintaining their germination capacity until they are ready to be planted, thus ensuring food security and agricultural productivity.
Blockchain technology offers a transparent and secure way to track seed provenance, handling, and quality from the producer to the end-user. This digital ledger system enhances traceability, reducing the risk of counterfeit seeds entering the supply chain and providing farmers with verified, high-quality seeds.
The global blockchain in agriculture and food market was valued at $139.6 million in 2020, which is expected to grow with a CAGR of 51.0% and reach $1,488.0 million by 2026. The growth in the global blockchain in agriculture and food market is expected to be driven by the increased need for transparency in the food supply chain and supportive government initiatives.
Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Bio-Rad Laboratories, IBM Corporation, Intertek Group, Cognex Corporation, and Zebra Technologies, etc. are some of the prominent names in this market as per the BIS Research report.
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These advancements across the stages of the seeding process exemplify the integration of technology in agriculture, aimed at improving efficiency, sustainability, and crop yields, thus meeting the global food demand more effectively.
Crop maintenance is a critical aspect of farming, ensuring that crops reach their full potential in terms of yield, quality, and health. This ongoing process involves several key steps designed to optimize the growing environment and protect plants from various threats.
Let's explore these steps briefly:
Irrigation is the artificial application of water to land to help grow agricultural crops. Efficient irrigation systems, such as drip or sprinkler systems, are crucial for providing precise water quantities at the right times, ensuring that crops are neither under-watered nor overwatered. This not only conserves water but also supports optimal crop growth.
North America generated the highest revenue of $460.6 million in 2020 due to high technological advancement in the region, high awareness on smart and modern irrigation solutions for agricultural and non-agricultural applications, and around 40 million acres of lawn, thus, turf grasses occupying more than 1.9% area of continental U.S., which requires daily watering for the maintenance.
Weed control involves the elimination or suppression of unwanted plant species that compete with crops for nutrients, water, and light. Smart weed control is becoming increasingly necessary in modern agriculture due to its potential to revolutionize weed management practices and address critical challenges faced by farmers and land managers. Traditional weed control methods, such as indiscriminate herbicide application and manual weeding, have limitations that smart weed control seeks to overcome. One of the primary reasons for the necessity of smart weed control is environmental sustainability.
As per the estimation of BIS Research, the global smart weed control market, valued at $842.7 million in 2022, is expected to reach $2,460.8 million by 2028, exhibiting a robust CAGR of 18.23% during the forecast period (2023-2028).
Smart weed control technologies offer precise and targeted approaches for weed management, optimized herbicide application, and effective weed control.
Learn more here- Smart Weed Control Market - A Global and Regional Analysis
This step focuses on protecting crops from pests and diseases that can cause significant damage. Integrated Pest Management (IPM) strategies use a combination of biological, cultural, physical, and chemical tools in a way that minimizes economic, health, and environmental risks.
Moreover, Stringent food safety regulations coupled with increasing production with reduced production costs are expected to drive the precision pest management (PPM) market over the forecast period.
The global precision pest management market was valued at $1,748.4 million in 2021 and is expected to reach $4,396.3 million by 2027, following a CAGR of 16.43% during 2022-27. According to this projection, North America generated the highest revenue, around $700 million, in 2021 and is expected to remain the largest region by 2027.
Source- Precision Pest Management Market
Soil sensors provide real-time data on soil moisture, temperature, pH, and nutrient levels. This information enables farmers to make informed decisions about irrigation, fertilization, and other soil management practices, leading to more efficient and sustainable farming.
With an increased worldwide demand for improved qualities of foods and grains, the shift to digital, smart, and data-driven equipment in the agriculture sector brings significant sales and financing opportunities. The shift is more prominent in regions such as Europe and North America.
Furthermore, agriculture sensors have a moderate to high impact on pest detection and crop scouting operations through timely and efficient detection of pests and diseases at the plant level.
The global agriculture sensors market was valued at $3,599.5 million in 2022 and is expected to reach $7,598.6 million in 2027, following a CAGR of 16.12% during 2022-2027. Owing to the growing demand for food and grains, the growth in the agriculture sensors market is expected to be driven by the increasing adoption of digital and smart agriculture equipment and technologies.
Remote land monitoring uses satellite imagery and drone technology to assess crop health, soil conditions, and water usage over large areas. This technology enables early detection of problems such as drought stress, pest infestations, and nutrient deficiencies.
Data-driven land management integrates data from various sources, including soil sensors, remote sensing, and weather stations, to make informed decisions about crop management. This approach leverages analytics and predictive models to optimize crop production and resource use.
Land rehabilitation involves the restoration of degraded land to increase its productivity and ecological health. Techniques can include reforestation, soil erosion control measures, and the reintroduction of native plant species to restore soil structure and fertility.
The landscape of agriculture has significantly transformed with the advent of modern technologies, ushering in an era of efficiency, sustainability, and productivity that was once deemed futuristic.
From autonomous farm equipment to precision farming practices and biotechnological innovations, technology in modern farming encompasses a broad spectrum of advancements. These technologies aim to increase yields and reduce environmental impacts, conserve resources, and improve the livelihoods of farmers worldwide.
Farm Automation, often referred to as "smart farming," involves the integration of advanced technologies into machinery and equipment to automate various farming practices. This includes sowing, harvesting, watering, and pest control.
The global smart farming market was valued at $15.06 billion in 2022 and is expected to reach $33.0 billion in 2027, following a CAGR of 16.99% during 2022-2027.
The growth in the global smart farming market is expected to be driven by an increase in adoption of IoT and artificial intelligence, digitalization of agriculture operations, rise in dependence on advanced technologies to enhance production across the globe.
Automation allows for more precise and efficient farming operations, reducing manual labor and enhancing crop quality and production rates. Automated tractors, planting and weeding machines, and harvesting robots are increasingly common, illustrating a shift towards more autonomous and less labor-intensive farming.
Following are the demand drivers for the Smart Farming Market:
• Need for Automation of Work Force in Agriculture
• Rising Concerns over Agriculture Sustainability
• Need for Technology in Livestock Monitoring and Disease Detection
• Increasing Demand for Global Food Security owing to Population Growth and Urbanization
The market is expected to face some following challenges:
• Rising Concern over Data Security with Increasing Cyber Attacks
• Lack of Compatible Infrastructure
The Internet of Things (IoT) in agriculture leverages sensors, smart devices, and software to monitor field conditions, from soil moisture and temperature to plant health. This real-time data collection enables farmers to make informed decisions regarding irrigation, fertilization, and pest management, optimizing resources and improving yields. IoT technologies facilitate remote monitoring and control, thereby increasing farm operational efficiency and productivity.
Some prominent names established in this market are:
• Deere & Company
• Microsoft
• CNH Industrial N.V
• Robert Bosch GmbH
• Kalera Inc.
• Heliospectra AB
• Signify Holding
• AKVA Group ASA
• Eruvaka Technologies
• AGRIVI
• Climate LLC
• AeroFarms
GIS technology uses spatial and geographic data to analyze soil composition, crop yield data, and weather patterns. This information assists farmers in planning their crop placements and understanding the environmental factors affecting their farms. By mapping out their fields, farmers can optimize land usage, reduce environmental impacts, and increase crop yields.
North America region holds the most prominent market share for the GIS software in agriculture market globally and generated the highest revenue of $432.3 million in 2018.
Although North America and the European region hold a major market share, other developing regions such as Japan, Middle East Africa, and South America are witnessing massive opportunities day by day. During the forecast period, the European market for GIS software in agriculture is expected to witness a CAGR of 9.33%.
Artificial Intelligence (AI) and Machine Learning (ML) technologies process and analyze the vast amounts of data generated by IoT devices and other sources. These insights can predict optimal planting times, pest attacks, and crop yields, leading to more informed decision-making. AI-driven models also enable precision farming, targeting specific areas of a field for irrigation, fertilization, or treatment, thus conserving resources and maximizing output.
Agricultural robotics are at the forefront of automating labor-intensive tasks such as planting, weeding, and harvesting. These robots can work around the clock, increasing productivity and efficiency while reducing the need for human labor. Moreover, robotics in agriculture extends to autonomous drones and unmanned vehicles, offering new dimensions of farm management and operations. As per the BIS Research report, the global agriculture autonomous robots market was valued at $828.4 million in 2022, and it is expected to grow with a CAGR of 25.12% during the forecast period to reach $3,136.7 million by 2028. The growth in the global agriculture autonomous robots market is expected to be driven by the increasing need for efficient and sustainable agriculture practices.
Drones, or unmanned aerial vehicles (UAVs), provide aerial imagery and data collection, offering insights into crop health, irrigation needs, and pest pressures. They enable precision agriculture practices by efficiently mapping large areas and monitoring crop health from above, allowing for targeted interventions that save time and resources.
Following are the demand drivers for the Global Agriculture Drones and Robots Market:
• Increasing Need for Automation in Agriculture Sector
• Increased Adoption of Smaller Robots and Drones
• Higher Yields and Benefits than Conventional Farming Methods
The market is expected to face some limitations as well due to the following challenges:
• High Investment and Maintenance Cost
• Lack of Basic Infrastructure Hampering Full-Fledged Adoption
• Cyber and Online Data Security Threats
Big data and analytics transform the agricultural sector by turning vast amounts of data into actionable insights. This includes optimizing crop rotations, enhancing yield predictions, and managing supply chain logistics. Big data analysis helps in understanding patterns and trends, leading to more effective and efficient farming practices.
Biotechnology in agriculture involves the manipulation of living organisms to develop new products and improve existing ones. This includes genetically modified organisms (GMOs) for increased resistance to pests and disease, and enhanced nutritional profiles.
However, Biopesticides and biofertilizers are poised to revolutionize agricultural practices by offering several advantages over conventional chemical inputs. These bio-based alternatives require fewer resources and can potentially mitigate pollution and soil degradation associated with traditional agriculture.
As per the report by BIS Research, the biopesticides and biofertilizers market was valued at $6,906.7 million in 2023, and it is expected to grow at a CAGR of 12.52% and reach $22,463.3 million by 2033.
Research suggests that biopesticides and biofertilizers produced using sustainable methods could substantially reduce environmental impacts, with greenhouse gas emissions potentially decreasing.
Biotechnology also encompasses the development of biopesticides and biofertilizers, reducing the reliance on chemical inputs and promoting sustainable farming practices.
The integration of technologies in modern farming is revolutionizing the agricultural landscape, making it more productive, sustainable, and efficient. These technologies offer solutions to many challenges faced by the agricultural sector, including labor shortages, climate change, and the need for increased food production to meet the growing global population.
As these technologies continue to evolve and become more accessible, the future of farming looks promising, with the potential to significantly impact global food security and sustainability. The adoption of these technologies represents a significant step forward in achieving a more efficient, environmentally friendly, and profitable agricultural sector.
