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The Potential of IoT in Agriculture
Dr. Mazlan Abbas
CEO, FAVORIOT
Email: mazlan@favoriot.com
AGROBANK KNOWLEDGE SHARING SERIES PROGRAM, OCT 26, 2018
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Why IoT Is At An Inflection Point?
Hardware
is cheap
Connectivity
is pervasive
Moore’s Law
continues
Metcalfe’s Law
”Network
Effects”
Development
is easy
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Business Survival in 21st Century
• Every 3 to 7 years, organizations need to reinvent
themselves
• According to The Boston Consulting Group - S&P 500
Companies from 50 years ago – only 19% are still in
existence
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Example - Is It Worth to Track a Person?
USD 20
Per
Month
Payfor
Fun?
PaytoSaveUSD
30permonth
PaytogetnewRevenue
USD25permonth
PayforLoyalty
Program
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Market Potential
Transportation
Connected cars are a top IoT device. We estimate
there will be over 220M connected cars on the road
by 2020.
[Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v]
Insurance
A survey has found that 74% of insurance executives
believe the IoT will disrupt insurance within the next
five years. 74% also plan to invest in developing and
implementing IoT strategies by 2016, according to an
SMA Research survey.
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Market Potential
Connected Home
Smart meters are already a reality, and from the 313
million installed in homes worldwide in 2013, Navigate
Research predicts that number to jump to 1.1 billion by
2022
[Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v]
Agriculture
We estimate 75M IoT devices will be shipped for
agricultural uses in 2020, at a 20% CAGR. These devices
are primary sensors placed in soil to track acidity levels,
temperature, and variables that help farmers increase
crop yields.
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Market Potential
Healthcare
We estimate 646M IoT devices will be used for
healthcare by 2020. Connected healthcare devices
can collect data, automate processes, and more.
[Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v]
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RAQIB is a SERVICE that monitors the MOST
important ASSETS of a person
Health
Safety Peace of Mind
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As population around the world continue to grow
and health care becomes more widely available,
people are living longer than before.
The percentage of the global population that is 65
or older will double from 10% to 20% by 2050
However, living longer doesn’t mean they will
continuously live healthier. Many will suffer chronic
diseases and memory loss issues.
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Healthcare costs keep on increasing. Costly time and
money due to frequent visitations. Hospitals and elderly
care centers unable to cope with the number of elderly
people.
Thus, the trend is now about “Aging in Place” where
elderly will live at home either with family members or
alone.
How do we ensure the elderly people live
alone with a healthy life, safe and secure
but with constant supervision?
How do we let them “Live Alone But Not
Left Alone”?
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Market Potential
Manufacturing
35% of manufacturers already use smart sensors. 10%
plan to implement them within a year, and 8% plan
to implement them within 3 years, according to PwC
[Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v]
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Understand Your Customer’s Business
How the customer uses
your product?
Which features the
customer uses your
product for?
How frequently your
customer used the
product?
Where and for how
long your customer
used your product?
Why your customer
uses your product?
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Why Apply IoT in Agriculture?
• Saving fertilizers and chemical crop protection agents
• Boosting soil fertility due to “smart” correction
• Controlling crop state and preventing its loss when stored
• Increasing machinery efficiency
• Monitoring state and location of farm animals
• Tracking processing line equipment condition