The Global Market for Big Data Technologies and Services is Projected to Reach $60 Billion by 2022

The global market for Planting & Fertilizing Machinery is forecast to reach US$15.5 billion by 2024, driven by the untapped potential offered by low levels of farm automation in developing regions and replacement sales in developed markets supported by continuous innovation and addition to new technology features and functions. A key trend driving sales growth is the need among agriculturists across the globe to hedge the risks posed by worsening labor shortages with automated machinery and meet farm productivity goals to remain competitive and support national level food security goals. Against the backdrop of population growth, the need to increase food production by achieving optimum productivity on limited arable land is rendering mechanization of farming activities a necessity. Benefits of mechanization making it an important national priority in agriculture development include increase in per man productivity; increased production in the form of higher yield of land per unit of area; lower cost of labor and a parallel reduction in cost of production and food prices; aids in better use of land; helps preserve soil fertility and reduce risk of soil erosion; helps farmers shift from ‘subsistence farming’ to ‘commercial agriculture; reduces dependence on labor and decouples the industry from  labor shortage risks; higher farm income. Read More…