Crop Monitoring Market to be Worth $8.9 Billion by 2030—Exclusive Report by Meticulous Research®
“Crop Monitoring Market to be Worth $8.9 Billion by 2030—Exclusive Report
by Meticulous Research®”
According to a new market research
report titled, ‘‘Global Crop Monitoring Market by Offering, Technology (Remote Sensing, AI & Computer
Vision, Automation & Robotics, Others), Farm Type, Application (Yield
Monitoring, Crop Scouting, Nutrient Monitoring, Others), and Geography—Forecast to 2030,’ the global crop monitoring market is projected to reach $8.9 billion by 2030, at a CAGR of
19.3% during the forecast period of 2023 to 2030.
Download Sample
Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5659
Crop monitoring is a part of precise agriculture that helps
farmers with adequate information to make informed decisions about their
fields. It is crucial to monitor the crops occasionally to prevent plant
issues or diseases. Thus, sensors, cameras, drones, and other systems are used
to monitor crops and collect a huge amount of data, including grain yield,
moisture levels, and soil properties, among others. It helps farmers assess
the time of harvest, fertilizers required for crop production, the effect of
weather, and soil properties. These systems also monitor crop requirements
such as water availability and inform the farmer regarding any potential
deficiencies so that the farmer can efficiently address the issue. The adoption of these systems is increasing in areas where
labor costs are high, and land costs are relatively inexpensive.
In this market study, all recent dynamics associated with
crop monitoring systems were thoroughly analyzed to estimate the future of the
global crop monitoring market precisely. This study also includes profiling
key global crop monitoring market stakeholders and segmenting them based on
their market standings.
Based on offering, the global crop monitoring market is segmented into
hardware, software, and services. In 2023, the
hardware segment is expected to account for the largest share of the global
crop monitoring market. The large market share of this segment is attributed
to the rapid automation of agricultural processes, rising demand for drones to
monitor yield, and increasing labor costs.
However, the software segment is projected
to register the highest CAGR during the forecast period. The growth of this segment
is attributed to the increasing need to collect data and provide insights
regarding crop conditions, the growing need to increase farm yield and reduce
labor, and increasing digitalization.
Based on technology, the global crop monitoring market is segmented into
remote sensing, AI & computer vision, IoT, cloud technologies, big data,
automation & robotics, and other technologies. In 2023, the remote sensing
segment is expected to account for the largest share of the global crop monitoring market. The large market share of this segment is attributed
to the reduction in the prices of sensors and rapid automation of agricultural
processes, and increasing government spending promoting farm automation
systems.
Request Sample Report Here @ https://www.meticulousresearch.com/request-sample-report/cp_id=5659
However, the big data segment is projected
to register the highest CAGR during the forecast period. The growth of this
segment is attributed to the increasing use of big
data for monitoring
crop health, helping farmers collect valuable knowledge about diverse aspects
of crop growth, disease detection, and pest management.
Based on application, the global crop monitoring market is segmented into yield monitoring, field mapping, crop scouting,
nutrient monitoring, pest control, and other applications. In 2023, the yield
monitoring segment is expected to account for the largest share of the global crop monitoring market. The large market share of this segment is attributed
to the rising adoption of precision farming, increasing population resulting
in rising food consumption, government subsidies in the food and agriculture
industry, the need for increased profitability, and enhancement in yield.
Moreover, this segment is also projected to register the highest CAGR during
the forecast period.
Based on geography, the global crop monitoring market is segmented into
North America, Europe, Asia-Pacific, Latin America, and Middle East &
Africa. In 2023, Europe is expected to account for
the largest share of the global crop monitoring market. Europe’s major market share can be attributed to the increasing demand for
improvised food products, the growing interest of farmers in adopting
precision farming, and growing government investments to adopt IoT solutions.
However, the Asia-Pacific region is projected to
register the highest CAGR during the forecast period. The growth of this market is
attributed to the increasing adoption of smart devices for agriculture, rising
demand for enhanced food quality, growing adoption of precision farming &
government initiatives. For instance, in February [PD1] 2021, Indonesia's Ministry of Agriculture
signed an MoU with Microsoft to strengthen the country's data-driven
agriculture ecosystem and empower smallholder farmers with tech-focused
solutions. Also, it helps Indonesian farmers to capture agriculture datasets,
such as crop yields, weather data, market demand, and prices, to build machine
learning models.
Key Players
The key players
operating in the global crop
monitoring market are Topcon Corporation (Japan), Trimble Inc. (U.S.), Climate
LLC (U.S.), Yara International ASA (Norway), CropX Inc. (Israel), EOS Data
Analytics, Inc. (U.S.), The Cropio Group (U.S.), PrecisionHawk (U.S.), Taranis
(Israel), Ag Leader Technology (U.S.), Deere & Company (U.S.), AGCO
Corporation (U.S.), Sentera (U.S.), American Robotics, Inc. (U.S.), SGS S.A.
(Switzerland), Cropin Technology Solutions Private Limited (India), Arable
(U.S.), and Small Robot Company (U.S.).
Quick Buy @ https://www.meticulousresearch.com/Checkout/86634126
Key questions answered in
the report:
· Which are the
high-growth market segments in terms of offering, technology, farm type,
application, and geography?
· What is the
historical market for crop monitoring systems?
· What are the
market forecasts and estimates for the period 2023–2030?
· What are the
major drivers, restraints, and opportunities in the global crop monitoring
market?
· Which are the
major players in the global crop monitoring market, and what are their market
shares?
· How is the
competitive landscape?
· What are the
recent developments in the global crop monitoring market?
· How do major
players adopt the different strategies in this market?
· What are the
geographic trends and high-growth regions in the market?
· Which are the
emerging players in the global crop monitoring market, and how do they compete
with the other players?
About Meticulous Research®
Meticulous Research® was founded in 2010
and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private
limited company under the Companies Act, 1956. Since its incorporation, the
company has become the leading provider of premium market intelligence in
North America, Europe, Asia-Pacific, Latin America, and the Middle East &
Africa.
The name of our company defines our
services, strengths, and values. Since the inception, we have only thrived to
research, analyze, and present the critical market data with great attention
to details. With the meticulous primary and secondary research techniques, we
have built strong capabilities in data collection, interpretation, and
analysis of data including qualitative and quantitative research with the
finest team of analysts. We design our meticulously analyzed intelligent and
value-driven syndicate market research reports, custom studies, quick
turnaround research, and consulting solutions to address business challenges
of sustainable growth.
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Comments
Post a Comment