Boston Consulting Group (BCG) has released its analysis of all agricultural patents registered worldwide between 2010-2014. In addition, the group conducted interviews with farmers and industry experts in order to examine how smart farming systems (GPS-guided drones and other equipment, smart algorithms, genetic engineering, etc.) will reshape agriculture over the next 15-20 years. This study from Boston Consulting Group looks at key trends in precision agriculture and how they will change the future of agriculture in the next 15 to 20 years. 

“We expect the adoption of smart systems that integrate big data and analytics software, wireless connectivity, advanced equipment, and even molecular biology to increase dramatically through 2030. By integrating inputs, farmers will gain better control over them, thereby driving a step change in productivity and yields and altering agricultural value pools and business models.

To thrive in this new environment, businesses providing equipment and inputs to farmers, as well as nontraditional players like providers of digital services, should take action now to adapt their strategies and capabilities and prepare for the changing landscape.

Although our research focused on Europe, the strategic implications are applicable globally. Companies can apply our findings to develop the strategies and capabilities that will allow them to harvest value from emerging business models in agriculture.“

More info: BCG Perspectives and Farm Industry News (including download link of the report).