Is the rate at which the return that would be required for a funding to develop from its initial balance to its closing balance, assuming that the profits were reinvested at the stop of each 12 months of the investment's lifespan.
Published in Chapter:
Introduction to Precision Agriculture: Overview, Concepts, World Interest, Policy, and Economics
Akalpita Tendulkar (Malaysia University of Science and Technology, Malaysia)
Copyright: © 2021
|Pages: 22
DOI: 10.4018/978-1-7998-5000-7.ch001
Abstract
The global population is increasing at a tremendous speed; thus, the demand for safe and secure food to meet this population is in demand. Therefore, traditional farming methods are insufficient to meet this demand; thus, the next revolution in agriculture is required, which is Precision Agriculture (PA), the Fourth Agriculture Revolution. PA is a technology where the concept of farm management is based on observation, measuring, and responding to inter- and intra-field variability in crops. The technologies used for performing precision agriculture are mapping, global positioning system (GPS), yield monitoring and mapping, grid soil sampling application, variable-rate fertilizer application, remote sensing, geographic information systems (GIS), quantifying on farm variability, soil variation, variability of soil water content, time and space scales, robots, drones, satellite imagery, the internet of things, smartphone, and machine learning. Hence, the current chapter will be emphasizing the overview, concepts, history, world interest, benefits, disadvantages, and precision farming needs.