New research from global mobile satellite company Inmarsat has found that the agriculture sector is interested in embracing the power of IoT and will spend significantly on the technology over the next five years.
The study, titled ‘The Future of IoT in Enterprise – 2017’, contains responses from the world’s 100 largest agritech companies and found that the sector is rapidly taking to IoT technologies. It shows 62% of the surveyed firms had already fully or partially deployed IoT-based solutions, far outweighing the adoption levels seen in the mining, transport and energy sectors, and a further 27% had plans to do so within the next six months.
It also revealed that expenditure on IoT-based solutions is set to increase dramatically over the next few years.
Ayan Jobse-Alkemade, director of agriculture sector development at Inmarsat Enterprise, said: “With the planet estimated to reach a population of 10 billion people by 2050, humanity will face challenges with sustainable water sources, food production, and the best use of land to get the maximum yield from crops. Additionally, using the most efficient method to deliver the resources will increasingly feature on the global agenda.
“In short, farmers, with the help of the agritech sector, need to get smarter, leaner and faster from field to fork.”
Another piece of research shows how IoT will play an increasingly important role in helping mining companies meet their obligations to their staff, governments, the environment and shareholders. Joe Carr, director of mining at Inmarsat Enterprise said: “The mining sector has worked over many years towards an industry-wide commitment of zero harm. Mines are a uniquely specialised, hazardous environment and as such miners are highly focused on employee safety. IoT solutions can play a significant role by remotely monitoring conditions and gathering data to anticipate and react to potential safety threats.”