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Exploring the Growing Trend of Advanced Technologies in the Crop Monitoring Market for Sustainable Agriculture || Topcon Corporation, Trimble, The Climate Corporation, Yara International
Crop Monitoring Market
The Business Research Company's Crop Monitoring Global Market Report 2023 the increase in demand for smart agriculture and IoT in agriculture is the major driver for the crop monitoring market's growth in the forecast period. IoT smart farming is a system designed to monitor crop fields using sensors that monitor light, humidity, temperature, soil moisture, crop health, and irrigation system automation, allowing farmers to monitor agricultural conditions from any location. For instance, according to a BI Intelligence survey, the adoption of IoT devices in the agriculture business reached 75 million in 2020, expanding at a rate of 20% each year. Simultaneously, the global smart agricultural market is predicted to treble in size by 2025, to $15.3 billion. According to the UN Food and Agriculture Organization projections, the nation will need to produce 70% more food by 2050.
The global crop monitoring market size grew from $2.49 billion in 2022 to $2.96 billion in 2023 at a compound annual growth rate (CAGR) of 19.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The crop monitoring market size is expected to grow to $5.26 billion in 2027 at a CAGR of 15.5%.
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Major competitors in the crop monitoring market are Topcon Corporation, Trimble, The Climate Corporation, Yara International, CropX Technologies, Cropio, Earth Observing Systems.
A key trend in the crop monitoring market includes adoption of advanced modern technologies. Crop yield has been protected by AI-based technology against a variety of circumstances, including climate change, growth, employment troubles, and food security concerns. The goal of this technology is to reduce agricultural hazards and promote sensible farming practices. For instance, in 2020, MotorLeaf, a Canada-based developer of wireless and automated agriculture systems, intends to provide yield estimates that employ AI in agriculture to regulate crop output and quality. The system automates disease scouting and harvest yield estimations, providing insights into the growth conditions that cause skin cracking and blemishes in vegetables.
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The crop monitoring market is segmented -
• By Offering: Hardware, Software, Services
• By Farm Type: Small Sized Farms, Medium Sized Farms, Large Sized Farms
• By Technology: Variable Rate Technology, Sensing And Imagery, Automation And Robotics
• By Application: Field Mapping, Crop Scouting And Monitoring, Soil Monitoring, Yield Mapping And Monitoring, Variable Rate Application, Weather Tracking And Forecasting, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the crop monitoring market.
The Business Research Company's "Global Crop Monitoring Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Crop Monitoring Market Include:
1. Executive Summary
2. Crop Monitoring Market Characteristics
3. Crop Monitoring Market Trends And Strategies
4. Crop Monitoring Market - Macro Economic Scenario
5. Crop Monitoring Market Size And Growth
……………
27. Crop Monitoring Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Crop Monitoring Market
29. Crop Monitoring Market Future Outlook And Potential Analysis
30. Appendix
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