Integration of Modern Technologies in Agriculture to Up the Game of Fertilizer Sector
The application of fertilizers has surged magnificently in around a decade to supply adequate quantities of crops to an increasingly expanding population. The global fertilizer market is predicted to grow with a CAGR of 5.0% and garner a revenue of $323,375.0 million by 2028.
The incorporation of modern-age technologies like artificial intelligence, precision agriculture, robotics, blockchain technology, and others, into the farming arena is taking the agriculture sector to newer heights and expanding the quantity as well as the quality of crop production. The application of fertilizers has surged magnificently in around a decade to supply adequate quantities of crops to an increasingly expanding population. At present, fertilizers feed around 50% of the world’s population which totals to about 20 billion meals each day. As per a report by Research Dive, the global fertilizer market is predicted to grow with a CAGR of 5.0% and garner a revenue of $323,375.0 million by 2028.
Additionally, an increasing number of fertilizer making companies are focusing on investing into non-traditional areas such as biological and digital tools to attain a market position of a full-service plant nutrition solution provider. For instance:
- In April 2018, Nutrien, a Canadian fertilizer company, introduced a digital Ag-platform to aid farmers in efficiently managing the timing of fertilizer application, planting, and harvesting by making use of climate and soil insights. Since the launch of this platform, the company has made 7 additional major acquisitions as well as partnerships with numerous biologicals and digital AgTech companies.
- In November 2019, Indian Farmers Fertilizer Cooperative Limited, also known as IFFCO, launched 'nano-technology' based product range - nano zinc, nano nitrogen, and nano copper for on-field experiments for reducing the utilization of chemical fertilizers and increase the yearly income of farmers. These eco-friendly products have been launched for the first time in Indian markets and have the latent to decrease the use of traditional chemical fertilizers by 50% as well as increase the crop output by 15% to 30%.
- In March 2018, Mahadhan, a company aimed on providing innovative solutions to all farming requirements, came up with an advanced fertilizer, Mahadhan Smartek. “Smartek” is an innovative and non-conventional fertilizer that nourishes soil, reinforces roots, and enhances nutrient absorbing ability of the roots.
Growing Demand for Fertilizers
Technology has been playing a vital role in farming and agriculture activities for more than a decade; and with the advent of digital technology, the opportunities have broadened profoundly. Modernisation in farming practices is resulting in a progression in agricultural sector, thus reducing losses and increasing overall efficiency. This is positively impacting the crop yield. The usage of digital as well as analytic tools is resulting in incessant improvements in farming, and the trend is going to linger for long, and bring about improved crop production and increased income of the farming community.
Technologies such as biotechnology and genetic engineering have also led to pest resistance and augmented crop harvests. Automation has brought in effective ploughing, harvesting, and a decline in the need for manual labour. Irrigation techniques and transport systems have been enhanced, processing equipment has reduced wastage, etc., and the impact is clearly noticeable in all different segments of farming.
Advanced technologies are enabling the adoption of robotics, precision farming, artificial intelligence (AI), block chain technology, and more in the agriculture sector. Some technological innovations that have revolutionised agriculture are as follows:
- Automation Technologies have enhanced productivity of agriculture, significantly reduced manual labour, and made the processes quicker. Indian agriculture comprises of small landholdings, and there is strong need to partner with other partner farmers to grab the benefits of modern technologies.
- Artificial intelligence has strengthened climate or weather predictions significantly. Modern-age tools and machineries are equipped with AI-enable data gathering and assist in precision farming as well as informed decision-making.
- Technologies such as remote sensors, agricultural drones, and satellites collect 24/7 data on weather changes in and around the farmlands, thus offering farmers with all the necessary information on humidity, rainfall, temperature, soil, etc.,
All this is expanding the agricultural arena, and thus boosting the need for quality fertilizers on a large scale.
Time to Adapt with the Trends!
Technology is indeed a boon to agricultural industry. The only need is that the farmers, especially from rural areas, shouldn’t be hesitant in adopting these technologies, instead take all the possible initiatives to integrate technologies into agriculture. But there is no doubt that technologies based on AI can bring precision to large-scale farming and lead to an exponential rise in productivity.
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