Global Crop Monitoring in Precision Farming: Market Dynamics

Precision farming (also known as Site Specific Crop Management-SSCM) is the integration of technology with farmland practices for an effective farm management system to manage and analyse variabilities in crops and farms for a more profitable and healthy produce. The technique also ensures sustainability and environmental protection. The goal of the SSCM technology is to maximize yield given the limited resources of funds, time and labour.

The market is driven by governmental support in the form of technological pro regulations, legislations and policies. There is also an overall increase in the demand of food grains due to an increase in the populations and the scarcity of land. Additionally, the agri industry is growing at a fast pace.  The technology is also conserving electricity cost making the energy and cost saved another attribute driving the global market.

However, one of the primary restraints is the lack of financial funding as the initial investment costs are high. This problem is more relevant for the developing countries. The lack of technical knowledge or a skilled labour force too acts as an obstacle to the market. Issues with data retrieval and management and the slow rate of ROI is also a challenging area in the technology. The current crop monitoring solutions and services do not offer adequate scope of customization (as per the requirement of the growers) of software. In the context of the developing countries, there might be certain cultural and social barriers in adopting the technology. Research suggests that growers in economies practising traditional methods feel intimidated by the technicality of the system.

Opportunities in the segment lie in the deployment of Unmanned Aerial Vehicles (UAV) and drones for monitoring the crops. The developing countries will also gain scope with the increase in the penetration of mobile technologies and the introduction of more consistent and strong broadband connections. There is also room for development of a more portable, real time farming system so that farmers can be prepared in cases of disasters or any unforeseen circumstances. 

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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