Agricultural Sensors Market to Observe Strong Development of 13.5% CAGR by 2023: Global Key Players (Auroras, Agsmarts, Irrometer Company, Stevens Water Monitoring Systems, Delta-T Devices, Spectrum Technologies)

Agricultural Sensors Market

The global agricultural sensor market is expected to reach at USD 14.3 billion by 2023, at the CAGR of about 13.5% during the forecast period, 2018-2023.

Agricultural Sensors Market Major Players:

Auroras, Agsmarts Inc., Irrometer Company Inc., Stevens Water Monitoring Systems Inc., Delta-T Devices Ltd, Spectrum Technologies Inc., Sentek Ltd, Aquaspy Inc., and CropX, among others.

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Based on the type, soil moisture sensors are likely to dominate the market with more than half of the share in revenue. By region, North America is projected to witness enormous growth, with the highest adoption of soil moisture sensors, during the forecast period. In Europe, high adoption of sensors, based on GIS applications for agriculture, is being witnessed in recent times. In Asia-Pacific region, adoption of sensors is slowly gaining momentum with growing markets, especially in China and Japan. Protected cultivation is becoming widespread globally and is likely to be a key driver for the growth of agricultural sensor market in the next few years.

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• Gives an understanding of the fastest growing regions in the global agricultural sensor market and growth trends, during the forecast period.
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• Covers in-depth insights about the competitors’ overview and company share analysis.
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Efficient Irrigation by Soil-water Sensors in Protected Cultivation

In precision farming, soil-water sensors help farmers in getting information on actual water use and making better irrigation decisions. In North America, adoption of soil moisture sensors has rapidly increased, over the past five years, for conservation of water and timely irrigation in farms. Soil moisture sensors are also used in the sports turf segment for more efficient monitoring and conversion of turf grass. Studies indicate that the adoption of soil moisture sensors help farmers to minimize drought stress, as well as to reduce the maintenance and labor cost of protected cultivation by 20%, at least.

Volatile Commodity Prices Restrain the Adoption Growth Rates of Sensors in Agriculture

Adoption of any new technology in agriculture is often dependent on the agricultural commodity prices. With highly fluctuating commodity prices in recent times, farmers are often skeptical toward adopting advanced technologies, such as agricultural sensors, which often has an initial and rather larger investment costs. For the same reason, farmers with large landholdings are more of a target population for the adoption of agricultural sensors, especially in the emerging markets from Asia-Pacific region.

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This release was published on openPR.