Precision agriculture is on the rise, with market value expected to grow from approximately 5.09 billion U.S. dollars in 2018 to 9.53 billion U.S. dollars by 2023.1
For agribusiness, this could lead to lucrative results. Daily operations across the whole supply chain already generate vast amounts of data, used to improve on each business’ particular remit. A connectivity network takes that huge lake of data and makes it dynamic, ensuring all data is overlaid and instantly synchronised providing the opportunity to drive better performance and productivity.
Examples of data sets that can be unified
• Weather reports
• Soil type
• Disease alerts
• Market demand
For farmers, this means a better defence against the rising challenges from climate change, pricing, and profitability. Farming is always under pressure to deliver more, to be smarter and faster, for results that are consistent and predictable. Farming is increasingly about ROI, not just about yields. Growing more isn’t necessarily the answer. The key is data substantiated production – getting meaningful advice and services borne from a connectivity network.
Precision agriculture, backed by smart data usage, can identify parts of a farm that will deliver an investment return or would be better delivering sustainability and conservation outcomes. Data connectivity is about more than helping farmers understand their output practices. It’s also about understanding the profitability of production, and what changes can generate the greatest value.
Manufacturers and suppliers of precision farming equipment are also primed to deliver smart solutions when backed by a connectivity network and meet the challenges of modern food production.
Bridging gaps in knowledge – from research institutions to R&D teams, and from the retail shelf to the field – will be key in supporting the sustainability of primary production and supply chain functionality.
Data, information and knowledge needs to flow easily through the supply chain, providing greater opportunities for optimization, innovation and efficiency. A supply chain that prioritizes connectivity for the benefit of each individual business and the sector as a whole is well-placed to deliver a workable model for precision agriculture and reap the lucrative benefits.
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