Research Firm: Growers Seek Out Disruptive Technologies

Despite the outlook for low farm net income and a down farm economy, large American farmers have a surprisingly aggressive outlook toward buying and utilizing new technologies on their operations, with high hopes for potentially disruptive entrants. According to a just-released syndicated industry study, as many as one in four large farmers have plans to actually increase their spending on new farm equipment technology and agronomic data technology. So concludes Caledonia Solutions, www.caledoniasolutions.com, a business research and consulting firm in Minneapolis.

The first wave of modern ag tech was the rapid and widespread adoption of biotech seed.  The second wave, GPS steering, was embraced by growers more quickly. “The first wave was mainly driven by yield advantages, and the second wave mainly by cost savings,” says Dr. Robert Hill, principal of Caledonia Solutions. “In this third wave, it looks like the farm operators are getting a strong dose of both benefits.”

“We are in the early stages of the third wave, which is the explosion of digital farming and big data utilization in the farming industry in the U.S.”, continues Hill. “The benefits are powerful enough to keep this adoption moving forward at a strong clip, even in the currently depressed state of the farm economy. We are seeing disruptive technologies coming to the growers. An example is Farmers Business Network. They are challenging the traditional information networks and farm input supply channels in the ag industry. This may force a structural shift in the industry.”

The study of large farm operators from Caledonia Solutions details current adoption rates and future growth projections for 34 separate equipment and data technologies. “Some of these technologies have moved through such a rapid rate of adoption that they will soon be at their saturation levels. Others are new players in this market, and the farmers have high expectations for them over the next few years.”

According to the study, the total number of new equipment and data technologies deployed by a grower is going to more than double over a 6-year period. Says Hill, “this is not what you would expect to see with farm incomes projected to stay low for the next few years. Farmers aren’t waiting to make moves for improving their operations.”

Topics: ,

Leave a Reply

Business Management Stories
Business ManagementIvy Tech, Farmers Partner to Help Precision Ag Education
September 20, 2018
Harvest time has taken on a new meaning for some Wabash Valley farmers, and Bobbi Hunt-Kincaid hopes her family’s first Read More
PenelopeNagel
Business ManagementWhy Is Funding a Challenge for Women-Led Agtech Companies?
September 17, 2018
When it comes to women-led agtech companies the funding discussion never seems to cease. In June after the The New Read More
Business ManagementTop 20 Two-Year Colleges for Precision Agriculture
September 10, 2018
Earlier this year, I compiled a list of the 25 best colleges for precision agriculture. It was quite the process. Read More
Osage-Co-op-Elevator-Osage-IA.-Finished-Bldg.-2
Business ManagementCo-ops and Precision Ag: Finding an Advantage in a Changing Environment
September 4, 2018
The business outlook for many co-operatives offering growers retail, marketing, and agronomic services is one that has changed greatly over Read More
Trending Articles
Soil-Hand
Data ManagementAre You Using Your Soil to Its Full Potential?
September 14, 2018
Harvest is progressing across most parts of the U.S. and those growers who aren’t already harvesting are gearing up to Read More
Grower-Retailer
Imagery/SensingAgtech: 10 Things I Hate About You!
September 4, 2018
Before you get bent out of shape from the title, remember if you’ve read my articles before you know I Read More
Kansas State University
Industry NewsKansas State University, Topcon Form Precision Ag Research Partnership
August 30, 2018
Kansas State University and Topcon Agriculture are collaborating to develop tools and systems to advance precision agriculture and support farmers. Read More
Blockchain building block graphic
Specialty CropsIs Blockchain the Future of Food Safety?
August 24, 2018
When the Internet Protocol Suite (TCP/IP) was standardized in 1982, permitting the worldwide proliferation of interconnected networks and eventually the Read More
WinField’s Joel Wipperfurth On Empowering Data-Driven Decisions
InfoAg ConferenceOne on One with Joel Wipperfurth, Winfield United
August 15, 2018
Winfield United's Joel Wipperfurth discusses ag technology trends and topics during last month’s InfoAg Conference. Read More
Geosys
Industry NewsUrtheCast to Acquire Geosys from Land O’Lakes in $20 Million Deal
August 15, 2018
UrtheCast Corp. and Land O’Lakes, Inc. today announced they have entered a binding term sheet for the purchase of Geosys Read More
Latest News
Business ManagementIvy Tech, Farmers Partner to Help Precision Ag Educatio…
September 20, 2018
Harvest time has taken on a new meaning for some Wabash Valley farmers, and Bobbi Hunt-Kincaid hopes her family’s first Read More
Sensors
Sensors/IoTThe Answer to Agriculture’s Daunting Challenges – Soil …
September 20, 2018
According to the United Nations, 9.6 billion people will live on planet Earth by 2050. Feeding these mouths will require Read More
Google-Earth-Map-featured-image
Data ManagementRainfall Revisited: Accurate Observations and Beyond
September 18, 2018
As a provider of weather analysis and forecast services to the agricultural industry, one of the most common questions I Read More
PenelopeNagel
Business ManagementWhy Is Funding a Challenge for Women-Led Agtech Compani…
September 17, 2018
When it comes to women-led agtech companies the funding discussion never seems to cease. In June after the The New Read More
Mobile Phone in field
Decision Support SoftwareWhy Are 570 Million Farmers Not Yet Using Agricultural …
September 17, 2018
Until recently, using agricultural apps and software was a rare practice among growers. This is now changing. The mass adoption Read More
Soil-Hand
Data ManagementAre You Using Your Soil to Its Full Potential?
September 14, 2018
Harvest is progressing across most parts of the U.S. and those growers who aren’t already harvesting are gearing up to Read More
Grower Services & SolutionsDeere-Granular Collaboration Produces New Profit Maps T…
September 14, 2018
The newest development from the ongoing John Deere-Granular product development and marketing collaboration is Profit Maps, now available to farmers Read More
Wingtra
DronesOpinion: Combining Two Pluses with the WingtraOne UAV
September 13, 2018
For the every-day consumer interested in UAVs, there is an ocean of products from which to choose. This includes the Read More
Farmer-tablet
AsiaShould Agri-Input Manufacturers Outsource E-Commerce to…
September 12, 2018
Editor’s note: Venky Ramachandran is a contributing writer for PrecisionAg.com’s sister site, AgriBusinessGlobal.com. This article was originally published on LinkedIn. Now, Read More
ICON-Link-Licensing_featured-image
Industry NewsValley Irrigation Adds Remote Irrigation Management Opt…
September 11, 2018
Valley Irrigation, an industry leader in smart irrigation solutions, has announced enhancements to its remote management technologies. Multi-Year Licensing In Read More
Reflex-Connect-Agri-Inject-featured-image
Variable Rate ApplicationVariable Rate Fertigation System Expands with Mobile Co…
September 10, 2018
Building on the success of its Reflex Variable Rate Fertigation system, Agri-Inject has taken fluid injection to the next level Read More
Industry NewsTeralytic Earns Ag Data Transparent Certification
September 10, 2018
Soil analytics company Teralytic has completed the Ag Data Transparent certification, affirming that their data use is private, secure, and Read More
Business ManagementTop 20 Two-Year Colleges for Precision Agriculture
September 10, 2018
Earlier this year, I compiled a list of the 25 best colleges for precision agriculture. It was quite the process. Read More
Industry NewsRaven, Topcon Announce Slingshot API Agreement
September 6, 2018
Raven Industries and Topcon Agriculture announced today a licensing agreement for Topcon Agriculture’s use of the Slingshot Application Programming Interface Read More
Tablet Grower
Data ManagementThe Power of Predictive Analytics in Agriculture
September 5, 2018
Years ago if we would have been told computers, data, and technology would be scattered around every farm there may Read More
DronessenseFly Launches eBee X Drone, Breaks Through 1,000 ac…
September 5, 2018
senseFly today reportedly sets a new standard in mapping tools with the launch of the eBee X. Launched with the Read More
AmericasOn The Scene: 2018 Farm Progress Show Wrap Up
September 5, 2018
Former Monsanto President (now Bayer CropScience Chief Operating Office) Brett Begemann’s opening salvo during his first appearance at a Farm Read More
EventsAg Experts Discuss Big Data Challenges in Agriculture
September 5, 2018
Agricultural experts at a Houston conference praised the advancements in unmanned aerial vehicles, sensors, and data-collecting technology used in precision Read More