Current estimates based on population trends say that the global population will stand at 9 billion by the end of 2050. With such explosive growth in population, the demand for food is expected to register a stunning rise as well. This makes the role of the global agriculture sector extremely crucial. Although this represents a massive opportunity for the global agriculture sector, it will also be one that is beset with challenges.
On the one hand, there are a bevy of new technologies for the agriculture industry to benefit from. On the other, the regulatory landscape is ever-evolving, requiring farmers to adhere to a new set of regulations ever so often. Besides this, there are other factors such as consumer opposition to GMO food and an inclination toward organically grown crops. Unpredictable weather and changing climate patterns are yet other challenge that the agriculture industry can do little to surmount.
The urban sprawl has not helped matters either, with arable land shrinking year on year. This has given rise to innovative projects such as city farming. Fertilizers and pesticides – both essential tools for a healthy harvest – need to adapt to green farming practices, which are gathering steam worldwide.
Smart farming is widely being touted as the future of agriculture, and ‘intelligent’ farms are seen as the surest way to achieve this. Thus, the next few years will see the agriculture sector evolve considerably, with technology at the core of this change.