Logo

TerraMetric and Euroconsult partner for Earth Observation for Agriculture research report

The USA-based global business development firm TerraMetric has teamed up with international consulting and research firm Euroconsult to produce a new study titled, “EO4AG – Earth Observation for Agriculture”

pexels tomas anunziata 3876417Precision agriculture incorporates a broad range of technology areas. (Image source: Tomas Anunziata/Pexels)

The two companies forecast that by 2029, the total agricultural market is expected to double in value to reach over US$815mn. While government-driven sales are foreseen to remain significant, the uptake of precision agriculture solutions within the private sector due to expected near-global broadband coverage is expected to be the main catalyst behind this anticipated market growth.

Precision agriculture incorporates a broad range of technology areas. In this context, it refers to supporting commercial agricultural supply chains by providing Earth observation-based solutions and tools to back farming optimisation processes, as well as research and development initiatives. For precision agriculture to evolve, connectivity will be essential.

Several outside factors, such as the expansion of automated analytics and the emergence of Low Earth Orbit (LEO) broadband constellations, are expected to act as catalysts for significant growth in the reach and efficiency of existing precision agriculture capabilities attributed to better connectivity. Drawing on these trends and technology developments, the total addressable market for precision agriculture is thus expected to equate to a little over US$4bn by 2029, according to the research’s forecasts.

“As a company that specialises in bringing new space tech and geospatial data to market to support a wide range of businesses, we clearly see, in our analysis, the largely untapped potential for Earth Observation data to support commercial agricultural supply chains,” explained TerraMetric CEO Clint Graumann.

“While the precision agriculture market has made great strides, it has significantly more potential if the right service models and solutions can be found. With this research, we aimed at providing Earth observation companies with more clarity as to how the agriculture sector does business while presenting AgTech stakeholders with a holistic assessment of the solutions coming to market in the next ten years,” he added.

“At a time when the advancements in connectivity brought by new Low Earth Orbit (LEO) constellations are poised to transform the precision agriculture market, partnering with TerraMetric, has been invaluable for us to be able to provide our clients with a two-folded approach by which we sought to bridge the knowledge gap between the Earth observation community and the AgTech market” argued Pacome Revillon, CEO of Euroconsult.

The research addresses and provides an analysis of several technologies and market drivers, including:

-Earth observation satellites and services providers: applications and missions

-The agricultural supply chains – Earth observation data users and their needs

-The impact of global connectivity on addressable markets

-Benchmarking Earth observation – what can it bring to agriculture

-Regional market variations in requirements and data needs

-Upcoming Earth observation-based solutions and the agriculture market take-up potential

-Beyond Earth observation: further technology advances and trends impacting the sector.


LATEST NEWS IN Agriculture

African Development Fund approves US$6.4mn grant to increase financial access for agricultural value chain entrepreneurs

African Development Fund approves US$6.4…

The Board of Directors of the African Development Fund, the African Development Bank Group’s (AfDB’s) concessional lending window, has approved a grant US$6.4mn to Gambia to implement the Incentive-Based Risk-Sharing...

Esri partners with Microsoft to support sustainable agriculture development in Africa

Esri partners with Microsoft to support …

To help support government and non-profit organisations on the continent address climate change, water supply and food security challenges, Esri, the global leader in location intelligence, has collaborated with Microsoft...

USAID and NASA renew partnership to address development and humanitarian challenges

USAID and NASA renew partnership to addr…

On 4 November, Administrator Samantha Power signed a Memorandum of Understanding (MoU) between the U.S. Agency for International Development (USAID) and the National Aeronautics and Space Administration (NASA) to renew...

Norway promises top-up contribution of urgently needed climate finance

Norway promises top-up contribution of u…

On 9 November 2022, Norway, as part of a commitment to triple its support to climate adaptation by 2026, has pledged an additional US$9.5mn contribution of urgently needed climate finance...

CotonChad and IDH sign partnership with Better Cotton

CotonChad and IDH sign partnership with …

Better Cotton recently signed a multi-stakeholder Letter of Intent to participate in the landscape approach, developed with local stakeholders in Chad in conjunction with IDH, intending to work towards improving...

NFU president Minette Batters appointed as ambassador of Farm Africa

NFU president Minette Batters appointed …

Farm Africa, a charity that promotes sustainable agricultural practices, strengthens markets and protects the environment in rural eastern Africa, has announced the appointment of NFU president Minette Batters as an...

Prev Next

OTHER RELATED ARTICLES - Agriculture

African alliance sets up agency to eliminate fake seeds

African alliance sets up agency to elimi…

An agency has been set up in Kenya to fight against counterfeit seeds that have reduced yields and affected food security in eastern and southern Africa

ConstellR and ScanWorld sign partnership to provide high-value agri data

ConstellR and ScanWorld sign partnership…

Satellite data providers ConstellR and ScanWorld have announced a new partnership which aims to leverage on combined Earth observation expertise to provide data-driven insights for agriculture and vegetation monitoring

Malawi’s cereal production in 2020 estimated at bumper level

Malawi’s cereal production in 2020 estim…

Malawi’s cereal production in 2020 is helping to bolster households’ food supplies and keeping national import requirements at below‑average level in 2020/21, according to FAO’s Global Information and Early Warning...

International Day of Plant Health to be observed annually: FAO

International Day of Plant Health to be …

The Food and Agriculture Organization of the United Nations (FAO) has welcomed a UN decision to establish an annual International Day of Plant Health, an issue said to be critical...

SOA-Mitsinjo gets young farmers involved in agroecological practices

SOA-Mitsinjo gets young farmers involved…

Technical and field trainings on resilient agriculture, water management and soil fertility management by Syndicate des Organisations Agricoles (SOA)-Mitsinjo has resulted in young farmers from Analamanga region of central Madagascar...

SCC urges Zambian farmers to ‘consider farming as a business’

SCC urges Zambian farmers to ‘consider f…

The Swedish Co-operative Centre (SCC) has stated that Zambia could support poverty-stricken small-scale farmers if it ran its farms as a business venture

Land O’Lakes buys majority stake in Villa Crop Protection

Land O’Lakes buys majority stake in Vill…

US agribusiness giant Land O’Lakes, Inc. has bought a controlling 52.5 per cent stake in South Africa’s Villa Crop Protection

Small-scale farmers need decent wages, says IFAD

Small-scale farmers need decent wages, s…

The president of the International Fund for Agricultural Development (IFAD) has urged the world leaders attending the UN Food Systems Summit to take concrete actions to ensure small-scale farmers are paid decent...

Switzerland donates US$1.02mn to fight desert locust outbreak in East Africa

Switzerland donates US$1.02mn to fight d…

The Swiss Agency for Development and Cooperation (SDC) at the Federal Department of Foreign Affairs (FDFA) is donating US$1.02mn to the UN Food and Agriculture Organization (FAO) to tackle massive...

Abia State governor seeks AfDB partnership to build agricultural base

Abia State governor seeks AfDB partnersh…

Nigeria’s Abia State governor Okezie Ikpeazu met with African Development Bank (AfDB) president Akinwumi Adesina at the Bank’s headquarters in Abidjan, Cote d’Ivoire to discuss investment for Abia to boost...

ITFC finances US$128.83mn to develop Burkina Faso’s cotton sector

ITFC finances US$128.83mn to develop Bur…

Jeddah-based International Islamic Trade Finance Corporation (ITFC) has signed a US$128.83mn Murabaha Financing Agreement to finance Burkina Faso 2017-2018 Cotton Season with SOFITEX as executing agent

The Nigeria agriculture enigma

The Nigeria agriculture enigma

Dr Terry Mabbett talked to Chris Okeke who revealed the facts and figures which show the need for self sufficiency and how the numbers show potential for production and processing...

Prev Next

Template Design © Joomla Templates | GavickPro. All rights reserved.