According to a recent report conducted by FOCUS Investment Banking, precision agriculture technologies are evolving in number and capabilities as John Deere joins an expanding list of companies continuing to introduce innovative products and services.
The report notes products and technologies ranging from GPS guidance and auto steering to big data and drones are being used at a frequent rate in an effort to allow growers to reduce inputs (seed, fertilizer, herbicides, etc.) while increasing yields and profits. The second annual “Precision Agriculture” report lists the technologies, the major players and emerging companies within the precision agriculture industry.
Eric Oganesoff, Managing Director of FOCUS Investment Banking and author of the report, says, “Precision agriculture is being increasingly adopted as growers and crop consultants learn that many are seeing an increase yield per acre and lower costs due to the adoption of many of the technologies available. It is an exciting time in agriculture where some of the most modern and advanced technologies including cloud computing, big data analysis and advanced sensors are being used. A key driver is the vast amount of data becoming available. Successful implementations of precision agriculture depend on analyzing and using the data effectively.”
Governmental regulations and a growing world population have forced farmers to search for ways to maximize profits and output. Established agriculture and technology companies like John Deere, as well as a number of startups, are bringing innovative products and services to agriculture, allowing farmers to increase overall efficiency.