In 2023 the agricultural industry faced challenges from extreme weather to supply chain issues. To address these issues and meet the goal of feeding a growing population, researchers and engineering teams developed smart AgTech tools, improving efficiency and yields.
The key driver of growth in the agriculture analytics market is the increasing government initiatives aimed at deploying improved agricultural techniques. The volumes of data generated by the agriculture sector are rising steeply.
The improvement in farmers' perspective on current conditions spilled over into a modest rise in July's Farm Capital Investment Index, up 3 points to a reading of 45.
The prospects for 2023 are likely to call for the adoption of a strategy shift by indoor growers, one which will involve minimising costs by scaling down their business models to focus more on profitability.
While mechanical technologies continue their development, it's the digital technologies we will see driving the most change within agriculture. Below, I'll dive into four of the largest upcoming agro-informatics trends I see coming in 2023 and beyond.
Agriculture is BIG Business. Despite its obvious importance in our lives, most of us are unaware of the actual size of agriculture as a market by itself - currently, a $9 trillion market employing about 27 percent of the world's population.
Each year, a Trends Council of more than 50 Whole Foods Market team members, including local foragers, regional and global buyers, and culinary experts compile trend predictions based on decades of experience and expertise.
With agritech, farmers are able to better understand their crops at a smaller scale, conserve resources, and reduce environmental impacts. And now, this technology has blended into smaller farms and producers.
Like many other industries, agriculture has discovered the benefits of data mobility, industry 4.0, and new technologies that unlock productivity and cost savings.
Over the past century, technology has made leaps and bounds bringing ease to people's lives. The agricultural industry is no different. With access to breakthrough technologies like drones, GPS, satellite imagery, robots, predictive modeling, machine learning & blockchain.
Container farms can be found in cities and backyards, parking lots and warehouses around the world. This kind of farming has interested millions of people, who like the idea of using discarded containers for farming.
The digital evolution within the ag industry has been constant over the last decade and continually evolving; however, it doesn't come without its challenges. Digital ag and ag tech aren't always easy to adopt.
What Spread is focused on is fully integrated solutions on a large scale and then also adding key technologies to make the business more profitable - so adding lots of automation, sensors and data collection points.
Because biofuels are made from agricultural products, fuel production from such products implies the use of agricultural land and crops that can also be used for the production of food.
It is estimated that one acre of vertical farming offers the equivalent production of at least four to six acres using conventional outdoor methods.
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