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Agriculture Sensor Market Report 2024-2033: Market Size, Share, Insights And Future Growth Analysis | Libelium Comunicaciones Distribuidas S.L., Auroras, Acuity Agriculture, Pycno, AgSmarts Inc
Agriculture Sensor Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Agriculture Sensor industry. This report on Agriculture Sensor market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The agriculture sensor market size has grown rapidly in recent years. It will grow from $1.78 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to global population growth, government initiatives and subsidies, precision agriculture adoption, climate change and environmental concerns, rise in crop losses. The agriculture sensor market size is expected to see rapid growth in the next few years. It will grow to $3.84 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.
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Key Market Players:
Libelium Comunicaciones Distribuidas S.L., Auroras, Acuity Agriculture, Pycno, AgSmarts Inc are prominent players in the Agriculture Sensor industry.
Market Drivers:
According to the Agriculture Sensor Market Report 2024 by The Business Research Company, The rise in food security concerns is expected to propel the growth of the agriculture sensor market going forward. Food security concerns refer to worries and challenges related to ensuring a consistent and adequate supply of safe, nutritious, and affordable food for a population, often influenced by factors such as access, availability, and distribution. Agriculture sensors play a crucial role in enabling farmers to monitor and optimize various aspects of their operations, such as soil health, weather conditions, and crop growth, ultimately enhancing productivity and ensuring a more secure food supply. For instance, according to a report by the Eurasia Group, a US-based political risk research and consulting firm, the number of people facing food insecurity globally was expected to rise up to 243 million by November 2022, or a total of 1.9 billion people. Thus, the rise in food security concerns is expected to drive the growth of agricultural sensor market during the forecast period.
More information about the Global Agriculture Sensor Market Report -
https://www.thebusinessresearchcompany.com/report/agriculture-sensor-global-market-report
Market segments for Agriculture Sensor include:
1)By Sensor Type: Humidity Sensor, Electrochemical Sensor, Mechanical Sensor, Optical Sensor, Pressure Sensor, Water Sensor, Soil Sensor, Location Sensor
2)By Application: Soil Monitoring, Yield Mapping and Monitoring, Disease Detection and Control, Weed Mapping, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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