How Is Technology Paving the Way for Digital Farming Globally and In India

Agriculture is one of the oldest sectors and has been radically transforming. And technology has been one of the foremost drivers of agricultural transformations leading to advancements in equipment and improved productivity. The digitalisation of farming is enabling efficient cultivation leading to more yield, increasing farmer incomes and boosting the economy. Technologies like artificial intelligence, IoT, cloud computing, connected sensors, and other emerging technologies are leading to sustainable farming globally.

According to Statista, the market value of smart farming worldwide in 2020 was approximately 12.4 billion US dollars and is expected to grow to 34.1 billion US dollars by 2026. Innovative or digital agricultural practices use tools such as yield mapping, aerial images, GPS, and more to digitally collect, store, and analyse data which helps in making informed decisions. Furthermore, in developing countries like India, advanced technologies are playing a vital role in changing the socio-economic scenario of the country. According to a World Bank report, innovation and technology are crucial for reducing poverty in developing countries, meeting the rising demand for food, and coping with the adverse effects of climate change.

Consequently, framers can make the most of agricultural equipment leasing companies and avail of agricultural loans from NBFCs like Netafim agricultural financing agency (NAFA) to upgrade their farming practices by adopting the latest technologies. Farmers can now embrace advanced technologies to significantly improve productivity through precise forecasting, data-driven decision-making, and more. Technology is revolutionising agriculture in many ways and has become the backbone of agriculture. Advanced digital farming technologies can meet the high demand for food with an increasing population. It can save time and costs, mitigate climate change issues, and make farming more profitable, efficient, safe, and environment-friendly.

Listed below are the technologies acting as game-changers for digital farming across the globe.

Data Analytics help farmers make informed decisions

The world population is expected to reach 9 billion by 2050, and the demand for food will increase by 70% by 2050. Simultaneously, the agricultural output should rise to meet the projected demand for food in the coming years. Technology is of utmost importance to catch up with the rising demand, and the utilisation of data analytics in agriculture would help to a great extent. There are innumerable data analytics benefits in agriculture with emerging precision farming and data-driven solutions. The Agriculture Analytics Market size was valued at USD 0.8 billion in 2020, and it is projected to increase to USD 1.4 billion by 2025 with a CAGR of 12.2%. By leveraging data, farmers can increase productivity, and with the help of real-time data, they can gain information and understanding about environmental challenges. Data analytics also help farmers monitor the crops’ health and create predictive analytics about future yields. Furthermore, they can ward off many risks and make a decision based on trends, reducing waste and increasing their profits.

IoT is transforming agriculture tremendously 

The IoT-based agriculture market size was valued at USD 11.9 billion in 2020, and it is expected to reach USD 18.7 billion by 2026 with a CAGR of 8.8%. In IoT-based smart farming, monitoring crop field conditions with sensors such as soil moisture, temperature, humidity, and more is extremely easy. It helps automate irrigation systems by adopting internet connectivity and monitoring field conditions anywhere and anytime. IoT also helps reduce the need for manual labour by using remote sensors, computer imaging, machine learning, and analytical tools. IoT-based agricultural devices with integrated farming equipment like NetBeat perform various functions such as operational efficiency, maximising yields, minimising wastage, cost, and energy, increasing profitability, and protecting the environment through real-time data. These IoT in agriculture technologies consists of unique equipment with wireless connectivity, software, and IT services.

Cloud computing helps farmers in collecting, analysing, and storing valuable data

Cloud computing in agriculture allows farmers to collect data from soil sensors and high-quality satellite images to make informed decisions and manage their crops efficiently. The wireless sensors help gather real-time data and machine learning algorithms analyse the data to aid farmers with the proper understanding of the farming environment. The sensors monitor the soil in real-time and collect data in the cloud-based system, and artificial intelligence automatically analyses it. Farmers can adopt precision farming that leans on technology and reduces the harmful effects on the environment. Global greenhouse gas emission is a serious concern that the world is dealing with and agriculture, forestry, and other land use contribute to 24% of greenhouse gas emissions. All the technologies like Artificial Intelligence (AI), Internet of Things (IoT), and cloud computing helps in minimising harmful environmental effects and maximising productivity, decreasing the use of water, fertilisers, pesticides, and much more.

Farmers can become financially resilient and generate more food by using the technologies.

According to World Economic Forum, India can unlock an economic value of $50-65 billion through digital farming by 2025. With the help of technology, farmers can mitigate various risks such as climate change and become financially resilient. Furthermore, Netafim agricultural financing agency(NAFA) helps by providing on-time agricultural loans to make the most of the latest technologies in farming. Growers and farmers can access the all-in-one digital farming solution NetBeat, which monitors, controls, analyses, fertigates, optimises yield and reduces costs. NetBeat software enables farmers to manage all their activities from a smartphone.

Wrapping Up

Technology is paving the way for digital farming globally and in India and allowing the farmers to sustainable agriculture, reducing environmental effects, increasing income and produce by automating the processes and shifting towards precision agriculture. This futuristic and sustainable model is helping farmers propel India’s economy and take it to the next level. And the farmers relying on agricultural loans to level up with the advanced technological agricultural practices can lean on Netafim Agricultural Financing Agency(NAFA) for financial solutions to help smart agriculture and automation.