A report from the U.S. Department of Agriculture estimates that U.S. farms could realize between $18 and $23 billion annually as a result of increased high-speed connectivity to power the latest next-gen technologies. This represents 7% of the total market in the agricultural sector.
Dairy and livestock would realize the greatest gain from precision agriculture tech derived from broadband at up to $10.5 billion annually, with the most noticeable economic benefit appearing in animal health care monitoring. Specialty crop producers would also see major gains thanks to broadband’s impact on new planning, production, and market coordination technologies, with potential gross economic gains at nearly 20% of the market.
The key to unlocking these significant economic gains is full deployment and adoption of broadband infrastructure.