SMART AGRICULTURE (DETAILED)

Smart agriculture is a revolution in the agriculture industry that helps to guide actions or approaches required to transform, modify and reorient agricultural systems
to effectively support the development of agriculture and guarantee quality food security during the new realities of ever changing climate.

The most commonly used definition as provided by the Food and Agricultural Organisation of the United Nations (FAO) which is the agriculture that sustainably increase productivity, enhances resilience or adaptation, reduce or remove greenhouse gas (GHG) emissions.

Smart agriculture addresses climate change, integrates multiple goals and manages trade-offs, maintains the ecosystem services, smart agriculture is specific but has multiple entry points at different levels ranging from the development of technologies and practices to the elaboration of climate change models, information technologies, insurance scheme, value chain, and the strengthening of institutional and political enabling environments in different part of the world thereby creating a smart agriculture market.

The market is mainly driven by the increasing uncertainty of the global climate. Rising concerns of food security coupled with productivity of land and crop yield in smart agriculture market. Due to the high technological adoption in developed countries like United State of America, Canada and France etc. The increasing demand mainly from the developing regions like the Middle East, Africa, Asia and South American countries are also driving the market. The emerging markets such as India, China, Brazil and Japan are expected to change the trend and dynamics. But the high cost of smart agriculture may hamper its demand.