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Food and Beverages | Wednesday, August 11, 2021
Today, agtech is making it more accessible than before to collect and share data, which constitutes excellent news for landowners, farmers, and investors. More rigid data collection and enhanced data transparency can ensure that farmland is being upheld with care, as farmers work to withstand healthy soils and deliver strong yields every year.
Chief equipment manufacturers are venturing into robotics to expand farmer awareness of field activity; here is what to watch for in the days ahead.
1: Growth in Farming as a Service
Farming as a Service (FaaS) is generally used to denote custom farming, referring to subscription and pay-per-use farming facilities. For instance, if one is a landowner and needs someone to perform particular services and manage the equipment, they are engaging in the FaaS ecosystem.
Given the degree of ambiguity around commodity and marketing rates, FaaS has benefited farmland owners and farmers who are looking to create fixed expenses and goals upfront. For example, one particular firm uses autonomous tractors to accomplish planting and other row crop operations. The company is currently working to discover what it takes to offer independent farm services to cultivators in the coming days. FaaS leaders are gearing to meet data-driven processes’ requirements as the industry remains to make farming more productive with new models for farmland technology and management.
2: The Rise of Data Analytics and Transparency
The worldwide agricultural robots’ market was lately valued at $4.1 billion. Chief equipment manufacturers keep bringing in new models and machines, such as a crop-spraying drone. Additionally, new software transforms the data game by rolling out AI into the fields to advance monitoring and data collection.
Besides, the rise of data analytics and transparency in farming goes beyond enhanced equipment competencies. While agricultural equipment gets smarter and data delivery gets more comfortable, it is progressively common for farmland tenants and owners to sign leases requiring data delivery and offer deadlines for that information.
3: Growing AgTech Investment Opportunities
The landscape for farmland investors is changing alongside the rest of the modernizing agricultural industry. Firms aim to get the advantages of having farmland in their investment portfolios and are working to make sure more people recognize the diverse ways this can be structured. As the continued interest in agtech organizations offers conventional investment opportunities, the new equity-based provisions will continue to change the farmland investment business.