Rising importance of agriculture in manufacturing, growing demand for food products, and modernisation needs of this conventional sector is likely to drive significant growth for the IOT in agriculture market in the near future. Agriculture is burdened with lack of land reforms and these reforms remain difficult due to strong political willpower in many emerging countries. This presents a major challenge for the global economy as the lack of modernisation continues to inhibit growth of various sectors. Additionally, rising urbanization is also presenting a key challenge for growth as population consolidates in a small area, making it difficult to mobilise the larger economic forces. The growth of IOT promises a major boon for agriculture as without the need for land reforms, it promises to transform agriculture in various new directions in the near future.
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Rising Startups to Drive Significant Growth for the IOT in Agriculture Market
Start-ups rising around the growth of IOT remain a major positive for the IOT in Agriculture market. These start-ups are catering to advanced innovation. For example, recently one of the founders of Google invested in major agricultural start-ups which allows growing food plants inside huge vertical buildings in urban areas. These areas monitored by advanced IOT technology promises yields multiple times higher than sought in traditional setups. Additionally, the yield also remains free of harmful pesticides and promises improvements in healthy living for people. Moreover, the rising yield is also situated in urban where fresh quality of produce remains a key concern in the global market. the rising awareness about quality of agricultural produce, and significant improvements in IOT technology are expected to remain major drivers for the IOT in agriculture market in the near future. Technologies like 3D imaging, more monitoring devices, and emphasis on innovation are likely to drive significant growth for the IOT in agriculture market.
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