With the radical transformation of the agriculture sector over the past few decades, there was a positive technological spillover effect witnessed in the agricultural industry. More and more of the companies investing in the future of agriculture startups that has always been the key focus of their companies. The USA has always been at the forefront of technological advancements, and the farming industry is no different. One of the oldest yet evolving sectors, the farming industry is on the verge of revolutionizing due to the onset of technological incorporation in the agricultural domain. The future of farming technology is brighter than ever, all hail rapid innovation and research and development.
Successful integration of technology in agriculture would lead to a $500 billion value added to the GDP by 2030. Future of Agriculture startups are on their way to becoming the next big industry by lowering agricultural costs and utilizing natural resources.
What’s the future of farming technology in today’s intelligence-backed world? Let’s dive right into the details of the future of agriculture startups and farming technology and gain a quick insight into the time ahead.
The Agricultural Revolution
Since the inception of agriculture in the 18th century, the industry has been under constant revamp. With every bit of innovation and technology entering the agricultural domain, nothing can stop it from being one of the most technologically sound industries in the US.
Initiating with the replacement of spades, axes, and sievers with fertilizers, pesticides, and automated machinery, the agricultural revolution has been an ongoing process. The drastic improvement in the agriculture sector due to the integration of modern technology paved the way for further advancements in this area. What started in the 1940s and continued till the 1960s as the Green Revolution became the guiding light for the future of agriculture technology.
Although the agricultural sector was slower than other industries to adapt to the changing environment and relied heavily on conventional agriculture techniques, the pandemic accelerated digital adoption by the agriculture sector.
As per Research and Markets, the CAGR would grow to 19.8% between 2019-2027. What does the future of farming technology seem like? Let us shed some light on the notable developments and details.
The Need for Agricultural Technology
The inconsistency between the demand and supply of food will jeopardize the system by 2030 if not handled tactfully. As a result of the ever-growing population, demand for food is on the rise, whereas farming resources are under constant restriction. Whether it is due to the unavailability of lands and water resources or the lack of human labor willing to work in the field, the need for technology is more than ever today.
The incorporation of technological developments is necessary to maintain sustainability in the farming arena. Technological advancements in the agricultural arena are adding stability to the sector while maintaining a sustainable future.
As the need for agricultural technology is at an all-time high in today’s world, you can sign up for Ascend Analytics services and unlock your growth potential through our data-driven research and decision-making. Gone are the days when the agricultural sector had to rely on gut instincts to choose its next course of action, data analytics and artificial intelligence are all set to revolutionize how the agriculture sector operates. We back our analytical reports with an in-depth data analysis, thus making the future of agriculture startups stand out from the competitors.
What Does the Future of Farming Technology Look Like?
It would be a grave mistake to rely on conventional farming techniques to operate your agricultural business. Agritech startups need to be well-equipped with modern technology to make their decisions. Thousands of questions puzzle the agritech startup owner’s mind ranging from the optimal soil temperature, livestock availability, weather conditions, and crop requirements. Digitization of the agriculture sector enables every startup to gain an insight into what the future holds for them.
The introduction of 3G and 4G Networks in Agritech Startups
Before the inception of mobile data connections, digitization witnessed slow progress in the agricultural sector. As soon as the 3G and 4G networks entered the market, the agricultural industry saw a quick shift to technological methods to increase productivity.
Long before the introduction of 3G and 4G technologies in the agricultural sector, only a small part of the industry relied on technological setups to remain competitive as affording expensive hardware to implement technological advancements was not everyone’s go-to option. The wide coverage of these data connections and affordability factors enabled the agricultural sector to monitor and manage their crops, livestock, and developments accurately.
The Current Technological Incorporation in Agritech Startups
The future of agriculture technology is decked with analytics, the Internet of Things, and scientific developments. Let’s take a sneak peek at some of the equipment used in modern agritech startups.
- Drones
Managing huge fields on your own requires farmers to spend a large chunk of their time on the ground which results in low productivity levels on the creative front. Over time, technology has replaced manual labor with sensory drones to monitor fields and detect the slightest change.
2. Internet of Things
Add soil sensors in your fields and get real-time alerts using IoT to take corrective action at the right time. These sensors track soil conditions and equip agritech startups to choose the most effective time and method for harvesting crops.
3. Predictive Analytics
Making the right decision at the right time is only possible when the owners of agritech startups gain access to future events. Predictive analytics transform how businesses operate by unlocking future trends.
By gathering historical data and transforming it into actionable insights for the future, predictive analytics pave the way for future agricultural startups to stay ahead of the competition. Choose Ascend Analytics predictive analytics solution and scale your business growth by accurate forecasting and future analytics. Once you are aware of the future scenario, designing important course corrections does not remain a complex task.
An Insight into the Future of Farming Technology for US-Based Agritech Startups
- Efficient Supply Chain Management
Streamlining the supply chain management for agritech startups, data analytics and artificial intelligence have revamped the whole agricultural field. The future of agriculture startups relies heavily on technology.
By accessing consumer and supplier data and transforming it into visualizable reports, agritech startups broaden their customer base. Once the suppliers are present on a single platform, reaching out to a wider set of customers with the right products becomes easy.
As an agritech startup, heaps of data must enter your system on an everyday basis, at Ascend Analytics, we transform raw data into unified reports using our data analytics services. Make data your driving force and witness a massive surge in your bottom line.
- Mitigated Risk
Entering a new industry, blindfolded, is not an option anymore. With cutthroat competition surrounding your agritech startup from all four sides, utilizing artificial intelligence and data analytics is crucial to survival and growth. The advancement of technology enables owners to have a secure future for agricultural startups. Choose Ascend Analytics and witness how we lower your risk by accurate prediction of future trends through predictive analytics and artificial intelligence. Get timely alerts of the existing and upcoming threats and tweak your strategies to meet the requirements accordingly.
- Transformation into Global Hub
The presence of Silicon Valley in South San Francisco is ensuring the US’ quick transition into a global hub. New technologies and rapid advancement in the data analytics industry in the USA paved the way for the agricultural revolution. Popularly known as the ‘salad bowl of the world’, California is all set to act as the agricultural hub for startups. Utilize the right set of technologies and leverage data to make informed decisions and be the market leader of tomorrow.
- All Set to Meet Customer Requirements
Now that you are doing everything right to stay on top of your game, it is time to reach out to the customers with their desired products. Knowing the requirements according to the target market is crucial to customer satisfaction. Agritech startups in the US leverage customer data and transform it into actionable insights to gain a holistic overview of their preferences. Today, agritech startups ensure maximum safety when it comes to their crops and eliminate hazardous practices from their system.
Ascend Analytics leverages user behavior analytics to detect problems in the user experience that hinder an agritech startup from achieving its goals and maximum efficiency. We segment customers into cohorts to ensure our clients deliver the right crops to the right customers. Setting an optimal pricing strategy is a hassle, especially because of the saturated market, we use our machine learning solution to automate price optimization for your business.
Partner with Ascend Analytics and Scale Business Growth
At Ascend Analytics we illuminate the future of agriculture startups by unlocking their complete potential through data-based decision-making. Partner with us and witness a 5% increase in retention rate and a 25-95% surge in profits. By choosing Ascend Analytics as your data analytics solution, you gain access to our benchmarked services and tools. Want to know more about our services? Reach out to us for a proposal or email us at info@ascendanalytics.co.