The future of agtech is precision agriculture. This includes using remote sensors and real-time data so that farmers only deploy water, nutrients and fertilizer where they’re needed, when they’re needed. It means using drones, satellites and in-field sensors to monitor soil conditions and indicate optimum planting times. And it means using smart machinery and transportation networks to make and distribute food products.
A recent McKinsey & Company report on big data applications for agriculture stated that, according to 2014 estimates, the global market for agricultural robotics is expected to grow from its current $1 billion to $14–18 billion by 2020.