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Its harder than ever to sift through
accurate information these days.
That’s why we’ve created this column to stick to the
facts of modern farming.
Let’s explore adoption levels and barriers to adoption,
current and future market forecasts, and most popular
uses-cases.
Adoption Levels
According to a global survey of 5,500 row and
speciality crops farmers across the world, North
American farmers (United States and Canada) are
some of the most forward-thinking in the world.
The survey was conducted by global management
consulting firm McKinsey and Company.
61% of North American farmers are currently using or
planning to use at least one ag technology in the next
two years. This ranking is only second to Europe, with
62% adoption. Globally, it is sitting around 39%.
Here’s a global breakdown of the surveyed regions:
•
Europe: 62%
•
North America: 61%
•
South America: 50%
•
Asia: 9%
Barriers to Adoption
Barriers to entry in North America are cited as high
costs at 52% and unclear return on investment (ROI) at
40%.
Examining globally, 47% of respondents claimed the
high cost was in the top-three barriers to adoption and
30% had unclear ROI as a top-three reason. 50% of
surveyed farmers were not willing to pay anything for
ag technology.
Perhaps because the minimum expectation on ROI
for surveyed farmers is 3:1. This is indeed high, but the
problem lies in proving ROI for ag tech.
PRECISION
AGRICUL
TRUE
A global outlook on modern farming facts
RYAN RIDLEY
MANAGING EDITOR
PHOTOS: Pixels Hunter – stock.adobe.com, hudiemm/iStock/Getty Images Plus
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