It has become imperative for the agricultural industry to incorporate IoT in different agricultural processes due to the growing population and increasing food demand. The increasing demand for food is challenged by factors, such as climate change and other environmental impacts resulting from intensive farming practices. Thus, innovators and technology providers bring distinctive IoT solutions to streamline agricultural processes, generate huge data, and perform different analytics to overcome these challenges.
According to the data published by the United Nations, by 2050, the world population is expected to reach 9.8 billion, with roughly 83 million people getting added to the world population every year. Global production of food, feed, and fiber will need to increase by 70% by 2050 to meet the demands of a growing population (Source: United Nations Food and Agriculture Program).
Food demand will escalate with an estimated increase of 59% to 98% by 2050 (Source: Harvard Business Review). With a continuous increment in the global population, proportional demand for agricultural products, including food and textile, is also expected to witness a rapid surge.
Consistent growth in the population, adverse conditions for agriculture development, and limited resources are urging drastic measures to overcome these challenges. Technology providers are developing innovative solutions for the agriculture industry to increase crop production and profitability to cater to the rising demands.
The utilization of IoT devices for monitoring favorable farming conditions, crops, and soil; and managing livestock, dairy, and other contemporary practices, have resulted in high crop production and increased profitability.
Furthermore, an increase in the number of distinctive solutions due to advancements in IoT, big data, and cloud computing positively impacts the different agricultural produce. Thus, a rising population with high demands for improvised food products encourages farmers to adopt smart solutions of agriculture IoT to provide timely results to consumers.
Countries such as India and China are among the most densely populated and have agriculture as their primary GDP contributors. The high demand for agriculture products in these countries is expected to encourage farmers to incorporate agriculture IoT for better and higher yields. Thus, increasing their GDP growth, meeting neighboring countries' requirements, and supporting the overall agriculture IoT market growth.
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