GIS Based Agriculture Market

GIS-based agriculture and other advancements in digital technology will lead to Agriculture 4.0, where cutting-edge technological developments will revolutionize a traditional line of work.

Out of all sectors, the agriculture industry is probably relatively untouched by new digital technologies like AI and machine learning. However, that could change very soon. Already, farming equipment is being revolutionized by IoT.

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The global GIS Based Agriculture market is expected to witness a CAGR of 14.07% during the forecast period. The revenue generated by the worldwide GIS Based Agriculture market in 2021 was over USD 1,629.75 million and is expected to generate revenue worth USD 4,308.50 million in 2028. The incremental growth opportunity offered by global GIS Based Agriculture is estimated to be USD 23 billion between 2022 and 2028.    

Interesting Facts about GIS Based Agriculture Industry

• GIS Based Agriculture is used to support pesticide and food safety regulations
• GIS Based Agriculture effectively analyses soil data and determines the best crops to plant
• GIS Based Agriculture facilitates crop yield monitoring
• GIS-Based Agriculture Offers effective irrigation control
• GIS Based Agriculture is very crucial in farming automation

Rapid Advances in Genetically Modified Crops

AI and machine learning will likely provide a substantial boost leading to rapid advances in genetically modified crops. Strongly interlinked sensors can allow for better crop growth and farm yields. Drone technology is already enabling remote monitoring of large fields. These latest technologies will help boost the efficiency and utilization of limited resources like water.

However, interconnected devices are necessary for these developments to become a reality. According to research, using new digital technologies could lead to a vastly improved crop output for the farming sector. Hence, agriculture can leverage the latest in sophisticated technology to bolster its contribution toward economic development. Furthermore, implementing new technologies can mean a substantial increase in farming output which will help limited land resources to produce enough crops to feed a rapidly growing population.

Need to Deploy Latest Technology

Currently, there is a gap between supply and demand. While demand is growing exponentially due to the rapidly increasing population, the supply side is unable to keep up due to various factors like limited land resources.

Hence, the deficit between supply and demand is growing. To arrest this trend, utilizing the latest technology that can directly aid farmers and help them produce more from their limited land resources is necessary.

The world’s population is expected to reach nearly $10 billion by 2050. As a result, agriculture will have to implement innovative high-tech methods so that its growth in crop output can match the rapidly increasing population rate.

GIS-Based Agriculture Facilitate Efficient Use of Limited Resource

Limited resources like water are already under intense pressure from the rapidly expanding population. As a result, a growing gap between water supply and its ever-increasing demand leads to severe water shortages in many parts of the world. The only way for limited water resources to boost crop yield is by implementing high-tech digital systems that can usher in a new agricultural revolution where husbandry efficiency can be dramatically reinforced. Developments in renewable energy are also imperative for sustainable agriculture.

Cloud Segment to Held the Largest Share

On-Premise and On-Cloud are significant segments based on solutions. The on-cloud segment dominated the market with the highest share of the revenue generated by the global GIS Based Agriculture market. While, Crop Monitoring, Irrigation Monitoring, Soil Analysis, and Others are key application markets for the worldwide GIS Based Agriculture industry. Crop monitoring is the leading application of GIS-Based Agriculture, with over 30% share in 2021.

Consumers are also making greater demands such as better treatment of farm animals, less use of synthetic chemicals for farming, and more sustainable water usage. Agriculture 4.0 will help the farming sector fulfill these demands in many ways. For example, genetically modified crops develop with excellent drought resistance and require less water and fertilizers while improving farm yields. AI and machine learning are imperative for discoveries leading to superior genetically modified crops. Although the agriculture sector seems to be the least affected by emerging technologies, the status quo is rapidly changing. 

Some of the key players involved in the global GIS Based Agriculture market include; ESRI, Autodesk, Inc., Earth Observing System, Geosoft, Inc., Hexagon AB, Hi-Target Surveying Instrument Co. Ltd., L3 Harris Technologies, Oracle, Parrot SA, Pitney Bowes Inc., Pix4D, Takor Group Ltd., Topcon Corp, and Trimble.

Frequently asked questions about global GIS Based Agriculture industry