The Agri business industry has transformed tremendously during the past 50 years. Because of technological developments, farm machinery has gotten bigger, faster, and more productive, enabling the more efficient cultivation of vast areas. Additionally, substantially enhanced, seed, irrigation, and fertilisers have helped farmers boost harvests. Developing technologies such as artificial intelligence, algorithms, interconnected detectors, and others could increase yields even further, improve the efficiency of groundwater and some other inputs, and promote resilience and sustainability in cattle rearing as well as agricultural output. But none of this is feasible without a reliable connectivity infrastructure. According to our analysis, agriculture may provide $500 billion in added value to the global gross domestic product by 2030 if connectivity is successfully deployed in the sector. This would result in an improvement of 7 to 9% over the predicted total and significantly lessen the pressure currently placed on farmers. It is one of just seven industries that will boost the global GDP by $2 to $3 trillion over the next ten years because to increased connectivity.
Food demand is rising while the supply side is constrained by land and farming input availability. By the year 2050, the world's population is expected to reach 9.7 billion people, necessitating a 70 percent rise in the number of calories that are accessible for consumption, even as the price of the ingredients used to produce those calories is going up. Rising energy, labour, and nutrient expenses are already putting pressure on business margins, and by 2030, the water supply will fall by 40% short of satisfying the world's water needs. Before it can once again support crops at scale, around a fourth of arable land needs to be significantly restored. Agriculture must embrace a digital revolution made possible by connectivity to combat these forces that are threatening to further destabilise the sector. However, compared to many other industries worldwide, agriculture is still less digitalized. Most earlier advancements were mechanical, such as more potent and effective machinery, and genetic, such as more productive seed and fertilisers. Digital technologies that are far more advanced are now required to achieve the next productivity boost.
While more sophisticated ones are being developed, several already exist to assist farmers in using resources more responsibly and efficiently. With the help of these new technologies, decision-making may be improved, enabling better risk and variability management to maximise yields and boost economics. When used in animal husbandry, they can improve livestock welfare, addressing the rising concerns regarding animal welfare. In contemporary agriculture, innovation is more crucial than ever. The sector is confronted with formidable obstacles, including growing supply costs, a workforce scarcity, and shifting consumer desires for transparency and sustainability. Agriculture firms are becoming more and more aware that these problems require answers. Agriculture technology has witnessed a tremendous increase in investment over the past ten years, with $6.7 billion invested over the past five years and $1.9 billion in just the last year.
Particularly in tropical areas, manual labour and hand tools employed in agriculture have energy and production constraints. Due to accessibility, cost, and operation concerns, smallholder farmers' resistance to agricultural mechanisation is frequently counterproductive. Combine harvesters are being used more frequently to eliminate manual labour and accelerate procedures. Indian agriculture is characterised by limited landholdings, making collaboration necessary to utilise present machinery. Future acceptance of mechanised services will increase because of hand-holding farmers to increase their capacity, making new machinery available, specifically to small farms, and addressing affordability difficulties through regulation. Agricultural mechanisation can boost harvest and decrease post-harvest losses, which could have a direct and indirect impact on yields.
The incorporation of automation in farming and agricultural activities has expanded with the development of digital technology. Many aspects of agriculture are impacted by technology, including seed technologies, herbicides, and fertilisers. Improvements in transportation and irrigation systems, decreased waste from processing machinery, and other factors are all clearly obvious. Robotics, precise farming, intelligent systems, blockchain technologies, and other modern technologies are highlighted.
The most significant technological advancements in this field have been in fields like indoor vertical farming, automation and robotics, livestock technology, contemporary greenhouse techniques, precision agriculture and artificial intelligence, blockchain, and animal technology.
Rather of acquiring their selected agricultural technology outright, buyers can rent it on a variety of flexible payment plans thanks to a business model known as "agricultural techniques as a service." The worldwide economy for agricultural techniques as a service is predicted to be dominated by software-as-a-service. The global market for agriculture technology-as-a-service is anticipated to be driven by the high market share and growth potential associated with software-as-a-service technologies in the agriculture industry. Data analytics and intelligence solutions are anticipated to rule the worldwide agriculture technology-as-a-service market in the technology product sector. The market for agriculture technology-as-a-service is anticipated to be driven by data analytic solutions, which have the potential to boost agricultural production. Agriculture has changed significantly throughout time because of technological advancements. Humans have invented innovative techniques to increase farming productivity and yields, from the invention of the plough to GPS-driven precision farming machinery. We are always striving to improve irrigation methods or create new, disease-resistant plant species. These cycles are essential to maintaining the freshwater supply while feeding the expanding global population.
Over time, it has been apparent that agricultural development practises use up natural resources more quickly than they can be replenished. The rapid expansion in the human population is creating a strain on the "traditional" staying capacity of the land because of the rising demand for food and shelter. Signs of a natural imbalance include pollution, deteriorating soil, diminishing wildlife populations, and human-caused changes to flora and fauna. It is reasonable to expect that the Agri-ecosystem will face higher demands because of the continued growth in human population. As a result, technology has been and will continue to be essential to agricultural and sustainable development.
Robotic technologies make it possible to monitor and manage natural resources, such as the quality of the air and water more accurately. Additionally, it allows farmers and ranchers more control over the growth, processing, transportation, and storage of plants and animals, which boosts productivity and drives down costs. safer food and growth circumstances, reduced influence on the environment and the ecosystem. Thus, the use of advanced technologies in agriculture and crop management is crucial for the benefit of humanity.