Precision Farming And Agri IoT Will Affect The Global Economics

Beige Market Intelligence has recently published a new market research report on precision farming market. The research report throws some important insights on farming & agriculture and how precision farming and Agri IoT (Internet of Thing) can impact the global economics. The report also highlights that the climate change and its impact on global agri industry and how technology incoprporated in farming can be answer to world's food shortage.

The global economic activity remained subdued in 2016, posting a YoY growth of 3.4% compared to 2015 (3.1%). While emerging economies constitute three-fourths of this growth, developed economies and part of the Eurozone posted flat to negative growth. As key developed economies are on the path of recovery, developing economies are struggling to retain their economic growth. Some of the key factors that will shape the world­­­­’s economy in the next five years are as follows:

Revolutionary changes in consumption patterns and trade flows across the world due to drastic shift in political and regulatory changes

Slowdown of Chinese economy as the country seeks to strike a balance between exports and domestic consumption

Softened energy prices influencing the dynamics of key manufacturing industries in several developing countries

Gradual tightening in the US monetary policy as the world’s largest economy seeks to get back to the normal growth curve

Restructuring of the EU and change in trade policies because of Brexit and other separationist demands

Political uncertainty anticipated by a radical shift in policy with a change in regime at the world’s largest economy US

To know more about the report, please click on the link

http://www.beigemarketintelligence.com/reports/research-report-agriculture-market/precision-agriculture-market-research-report-market-size/

The global economic growth is expected to be characterized with moderate recovery (1−3%) in developed economies of Germany, the US, and the UK; average growth to outperformance (5−9%) in developing economies such as China and India and contraction to flat growth in economies of Brazil, Russia, and the EU (-1%−2%). However, one such inherent growth driver that remains integral to these growth stories is the agriculture sector that constitutes the vital inputs to major industries and form the basis for retail and industrial consumption.

Request a free sample: http://www.beigemarketintelligence.com/contactus/request-sample

As the number of mouths to feed and change in macroeconomic trends such as urbanization, lifestyle changes, resource exploitation, and easier communications, there has been a massive shift in how food is produced and consumed. Climatic changes supporting the incidence of droughts, flash floods, unpredictable rainfall, and temperature are wreaking further havoc on the already stressed agricultural output. In addition, human-driven factors such as encroachment of forest land, indiscriminate water consumption and wastage, unscientific usage of pesticides, fertilizers to achieve short-term productivity are additional constraints to the agricultural value chain.

In view of the above, it has become imperative for us to adopt efficient and sustainable farming practices to ensure better food security and safety. Precision farming remains a key to achieving the same, wherein it involves the usage and conversion of unstructured data to derive actionable farm insights that can potentially save resources and labor and can yield higher productivity.

Some of the major factors that are driving the adoption of precision farming are as following:

Urbanization: The global urbanization rate was estimated at 54% in 2014 and is expected to reach 65% by 2030 driven by rapid infrastructural expansion in emerging economies that constitute half of the world’s population. As the number of urban congregations rise, there comes the demand for value-added products including food and beverage products.

Climatic factors: Climatic change constitutes about 4−5% loss of the world’s GDP per year while natural disasters constitute a loss of up to 1% GDP. Precision farming enables the same through weather forecasting, and emphasizing farm models to accommodate sustainability by minimizing preventable disasters such as soil erosion, deforestation and loss in soil productivity

Demand and price agility: The underlying principle of any business activity including that of agriculture is to achieve the maximum output through minimal input of resources and that too in a sustainable manner. Precision farming facilitates the required agility through a network of connected devices and ecosystem that can dispense live information of markets across the world and intimate the farming community over the best practices. This enables farmers not only to make informed decisions in order to achieve a high RoI but also can potentially save pilferage and production of under-desired commodities.

Sustainability: Sustainability is termed to be a US$1 trillion opportunity by 2022 in terms of demand for products and services supporting it. Agriculture, estimated to consume about 18% of the global energy output is one such area of focus wherein the emphasis is onto minimize the energy footprint of farming operations. It may involve substitution of labor with mechanized equipment, scientific-data driven use of pesticides and fertilizers, controlled usage of water efficient planting of seeds to derive maximum benefit within the confined agricultural domain and beyond.

Source: http://www.beigemarketintelligence.com/how-precision-farming-and-iot-will-affect-the-global-economics/

About Beige Market Intelligence

Beige Market Intelligence is new-age provider of competitive business intelligence, working across various industry verticals. Our expertise and knowledge ensures that the market analysis Beige provides is comprehensive, detailed and complete. The analysis helps our client organizations become aware and make educated decisions, as far as investing or devising a marketing strategy is concerned. The actionable insights delivered through our market research provide a comprehensive market analysis for every level of market segmentation in an industry. Beige Market Intelligence is a quality driven high end Market Research organization. Our team of experts ensure the analysis you receive is not just analysed and smartly presented, but is completely customized based on the client’s requirement. Our deliverables guarantee our current global client base does not look beyond Beige when it comes to any kind of industry and market analysis.

Contact Detail:
Khyama Patra
Beige Market Intelligence
Chinnapannahalli Main Road, Bangalore-560037

contactus@beigemarketintelligence.com
US: +1 347 903 9949
UK: +44 20 323 99499
APAC: +91 99 012 75473

Beige Market Intelligence

This release was published on openPR.