techniques . Beyond the farm , satellites contribute to governmental policy formulation for food security and incentivization by offering comprehensive insights into agricultural conditions . The data captured by satellites enables insurance companies to underwrite risks efficiently , ensuring transparent and informed decision-making in handling claims . Agri commodity traders and processors benefit from satellite technology as it aids in planning effective procurement strategies , optimizing the supply chain . Additionally , satellites play a crucial role in allowing agricultural input producers to forecast product demands accurately , ensuring the timely availability of resources . In essence , the multifaceted applications of satellite technology underscore its indispensable contribution to the modernization and efficiency of the agricultural ecosystem .
The benefits of using satellites in agriculture include timely and objective coverage , accessibility to otherwise inaccessible areas , periodic observation of plant growth , assessment of soil moisture and irrigation requirements , and early warning systems for pest attacks and crop diseases .
Big Data Analytics in Agriculture
One of the key technologies driving this digital transformation is remote sensing using satellites .”
To cope with the increasing demand for food and the impact of climate change , agriculture is turning to big data analytics . IoT devices , connected sensors , and cloud computing contribute to the collection of real-time data from fields , tractors , trucks , and plants . This vast amount of data is then integrated with other information , such as weather data and pricing models , to identify patterns and insights .
The adoption of analytics in agriculture is on the rise , with the market size expected to grow from USD 1.4 billion in 2023 to USD 2.5 billion by 2028 , at a Compound Annual Growth Rate ( CAGR ) of 13.1 %. The top four use cases for big data in farming include :
Feeding a Growing Population :
Big data provides granular data on rainfall patterns , water cycles , and fertilizer requirements , enabling farmers to make informed decisions for increased yields .
AgriTech
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