twitter RSS Feed linkedin acp contact

IoT set to overtake cloud computing as primary industry 4.0 tech in agriculture: Inmarsat research

A new research by Inmarsat, a global mobile satellite communications company, revealed that investment in the Internet of Things (IoT) is set to overtake cloud computing, next generation security, big data analytics and other digital transformation technologies, across the agricultural sector in the near future

The new research reveals that the mainstream adoption of IoT across the agricultural sector is already making a significant difference. (Image source: Adobe Stock)The new research reveals that the mainstream adoption of IoT across the agricultural sector is already making a significant difference. (Image source: Adobe Stock)

Agricultural respondents reported plans to invest the greatest share of their IT budget on IoT projects over the next three years.

IoT has reached a high level of maturity across most organisations, with agricultural businesses now planning to spend an average of US$2mn on their IoT investments through to 2024. While IoT accounted for an average of 7.3% of a typical agricultural organisation’s IT budget between 2017 and 2020, businesses are planning to spend 10.2% of their IT budgets on IoT projects over the next three years. Planned investments in IoT are notably higher than those earmarked for other Industry 4.0 technologies, including cloud computing (9.2%), next generation security (7.3%), big data analytics (7.3%), robotics (5.4%), and augmented reality (4.8%).

In addition to receiving more investment than other technologies vying for IT budgets, the new research also reveals that the mainstream adoption of IoT across the agricultural sector is already making a significant difference in terms of operational cost-savings to many organisations. On average, agricultural respondents report that IoT projects currently save their organisations 7% of their yearly costs. In the future, respondents expect to achieve an average of 12% cost-savings in 12 months’ time, rising to 20% in three years and 28% in five years’ time.

Despite IoT investments ranking comfortably ahead of other digital technologies across the board, budgets are still a challenge for the agricultural sector. On average, the planned spend on IoT projects per agricultural organisation in the next three years is just under $2mn, which is lower than planned IoT investments in oil and gas (US$3.2mn) and electrical utilities (US$3.1mn).

While speaking about IoT investments in the agricultural sector, Steven Tompkins, director of Market Development at Inmarsat, said, “Our latest research findings confirm that investment in IoT has reached a high level of maturity in the agricultural sector. Agricultural businesses have a strong knowledge of the possibilities for IoT to save them money in the short and long term. It also provides visibility and automation across production and supply chains, whether it is to help growers understand weather and soil conditions in the field, to provide cattle farmers’ information on their animals’ welfare, or helping aquaculturists monitor the oxygen levels in their salmon pens. The sector is benefiting from ‘smart’ farming techniques.”

Commenting on the findings, Mike Carter, president of Inmarsat Enterprise, added, “Our latest research revealed that IoT is now the primary Industry 4.0 technology in which companies are investing over the next three years. The emergence of IoT as an investment priority for businesses, and the increasing level of cost-savings they expect IoT to deliver in the years ahead, clearly show how well-established a technology IoT has become in agriculture. However, there are still several significant areas for all organisations on which to improve to draw optimum benefits from the technology – securing reliable connectivity, improving data management and addressing their IoT skills gaps and security concerns.”

Mike explained that Inmarsat ELERA, a narrowband network, is ideally suited to the rapidly evolving world of IoT and the billions of devices that are being connected every year. “They deliver global reach, extraordinary resilience, and the fastest speeds, along with the smallest, lowest-cost terminals in their class. ELERA is inspiring new possibilities and enabling organisations from all sectors to access IoT anywhere and will be a catalyst for the next wave of world-changing technologies. Organisations looking to accelerate their IoT deployments don’t have to look further than Inmarsat and our global partner ecosystem, to solve their IoT connectivity needs.”


LATEST NEWS IN Agriculture

FAO voices for an end to child labour in agriculture

FAO voices for an end to child labour in…

The Food and Agriculture Organization (FAO) of the United Nations is contributing to renewed calls for an end to child labour in agriculture, at the 5th ‘Global Conference on the...

West Africa is all prepped up for desertification COP15

West Africa is all prepped up for desert…

West African representatives from the ministries of planning and finance, environment, and other stakeholders had gathered in Abidjan on 5-6 May 2022 for a capacity-building workshop on addressing land degradation...

FAO and the WFF set up Young Scientists Group

FAO and the WFF set up Young Scientists …

The Food and Agriculture Organization of the United Nations (FAO) and the World Food Forum (WFF) have launched the WFF’s first-ever cohort of the Young Scientists Group

Four agri-tech centres come together to boost innovation in global sustainable farming

Four agri-tech centres come together to …

Four UK agri-tech centres – CHAP, CIEL, Agri-EPI and Agrimetrics – have formed a sustainable farming partnership with world leading agricultural research and training organisation, Wageningen University & Research (WUR)...

Africa must prepare for a global food crisis, says AfDB president

Africa must prepare for a global food cr…

African Development Bank (AfDB) Group President Dr Akinwumi Adesina has said that Africa must prepare for the inevitability of a global food crisis

US and Mozambique governments come together to preserve forests and water

US and Mozambique governments come toget…

On Earth Day 2022, the US Government reaffirmed its support for conservation law enforcement and sustainable forest management in the Niassa Special Reserve (NSR), Mozambique’s largest protected area

Prev Next

OTHER RELATED ARTICLES - Agriculture

Somalia implements Drought Impact Response Plan

Somalia implements Drought Impact Respon…

The Federal Government of Somalia and the aid community are together implementing a Drought Impact Response Plan which is set to provide critical life-saving assistance to 4.5mn Somalis by the...

Small farms in Togo to benefit from AfDB digital expansion

Small farms in Togo to benefit from AfDB…

The African Development Bank (AfDB) has launched a digital payment project to support small scale farmers in Togo

Nouryon launches ingredient to improve agricultural formulations

Nouryon launches ingredient to improve a…

Nouryon is launching an ingredient for the agricultural market to help fertiliser and crop protection products to be combined in a single mix

KARI develops new finger millet variety

KARI develops new finger millet variety

The Kenya Agricultural Research Institute (KARI) has developed a hybrid finger millet variety in Kenya that is drought- and disease-resistant

Coffee prices go up in Tanzania

Coffee prices go up in Tanzania

The Tanzania Coffee Board (TCB) has announced that the price of a 50kg bag of clean coffee has climbed from US$125 to US$240

FAO warns of Desert Locust outbreaks in Yemen and the Horn of Africa

FAO warns of Desert Locust outbreaks in …

Desert Locust summer breeding, amplified by heavy rains, can pose a serious threat to agricultural production areas of Yemen, Sudan, Eritrea and parts of Ethiopia and northern Somalia during the...

Tanzanian cashew farmers seek government support

Tanzanian cashew farmers seek government…

Tanzanian cashew farmers in the Tanga region have asked the government to repossess idle cashew nut processing factories and give them use of the facilities through co-operatives

FAO calls for stronger commitment and funding to achieve zero Hunger

FAO calls for stronger commitment and fu…

FAO and parliamentarians from eastern Africa, together with Intergovernmental Authority on Development (IGAD) and East African Community (EAC), have called for robust legislative frameworks and increased funding to intensify the...

WFP boosts crop production, builds climate change resilience in Malawi

WFP boosts crop production, builds clima…

The UN World Food Programme’s (WFP) activities in Malawi between 2015 and 2020 have helped communities adapt to a changing climate and enabled them to break out of the cycle...

Sudan plans too boost wheat production to cut imports

Sudan plans too boost wheat production t…

The Sudanese government has announced it will cultivate 600,000 acres of wheat as it aims to cut importations of the crop, which have been setting the country back US$900mn annually

Task Force on COVID-19 impacts on Africa’s food security begins work

Task Force on COVID-19 impacts on Africa…

Ensuring people have access to food by keeping borders open for trade is critical during COVID-19, FAO director-general QU Dongyu said during the first meeting of the Task Force on...

Zambian government urges farmers to adopt seed technology

Zambian government urges farmers to adop…

The Zambian government has encouraged the country's farmers to adopt seed technology in order to help raise the national average yield

Prev Next