By the year 2050, the global population is projected to surpass 9 billion, presenting a substantial challenge in ensuring an adequate food supply for everyone. Addressing this imperative, the agricultural sector must undergo a remarkable transformation, aiming to increase production by approximately 69% from 2010 to 2050.
According to research from McKinsey & Co., if connectivity is implemented successfully across the agricultural industry, the sector could contribute an additional $500 billion in value to the global gross domestic product by 2030. This would alleviate much of the pressure on farmers. But even in more digitally advanced economies, the percentage of farmers using connected equipment is low.
In addition, predictive analytics can forecast trends such as the growing super-health trend, providing insights on effectively differentiating processes, products, and distribution to feed lucrative markets. ERP solutions can also be used to understand and anticipate how to quickly redistribute or recycle quantities of potential food waste, such as offcuts, near-use dates, etc., to needy and starving markets.
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