The analog period in agriculture is over; the industry has entered the digital age. Investment bank Goldman Sachs predicts that the application of next-generation technologies can increase the productivity of world agriculture by 70% by 2050. Agriculture is on the threshold of the “Second Green Revolution.”
Experts estimate that thanks to precision farming technologies based on the Internet of things, there can be a surge in yields of such magnitude that humanity has never seen before even with the appearance of tractors and the invention of herbicides and genetically modified seeds.
Technologies have evolved, become cheaper, and have advanced to such a level that for the first time in the history of the industry it has become possible to obtain data on each agricultural object and its environment, to calculate the best course of actions mathematically, and to predict the result.
Data and advanced data management systems (data science and data management) become the key resources for the further growth of agricultural productivity, ensuring stable results and increasing competitiveness on a local and global scale.
Formation of Agtech
In 2010, there were no more than twenty high-tech companies in the agricultural sector in the world, and in the period 2013-2016, investors have already invested in more than 1,300 new technology startups for a total of more than eleven billion dollars in four years. A new investment segment AgTech (Agrotech) was formed, which in 2014 overtook FinTech and CleanTech. Moreover, countries other than the USA, Canada, India, China, and Israel are showing significant activity.
The long chain of creation of value of agricultural products and a large number of unsolved problems in the industry that can be solved with the help of IT and automation is one of the main reasons for the attractiveness of investment in the industry.
Opportunities for modernization of the industry are enormous, under the requirement to increase productivity, agriculture is turning from a traditional industry into a high-tech industry that can create new markets for innovative solutions and developments that did not exist before to solve a large number of existing problems.
We at JeraSoft have created a full-featured Internet of Things (IoT) billing solution, empowered with rating and mediation features. It supports the implementation of Internet (IoT) and inter-machine interaction (M2M) in an industry, enabling remote monitoring and management of connected assets (technological objects, devices, SIM cards). JeraSoft IoT Billing Platform easily collects and manages data from sensors, devices, cloud platform or other agriculture equipment or IoT services to bill (air, water, soil, weather and other related utilities and meters)
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