Press release
Crop Monitoring Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Topcon Corporation, Trimble Inc., The Climate Corporation (a subsidiary of Bayer AG), Yara International ASA
Crop Monitoring Market Size
The Business Research Company offers in-depth market insights through Crop Monitoring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The crop monitoring market size has grown rapidly in recent years. It will grow from $2.86 billion in 2023 to $3.32 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increasing need for food security, environmental concerns, government initiatives, data analytics and ai.
The crop monitoring market size is expected to see rapid growth in the next few years. It will grow to $5.97 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to precision agriculture adoption, climate change mitigation, growing demand for organic farming. Major trends in the forecast period include market expansion, integration with iot and big data, partnerships and collaborations, ai and machine learning, farm-to-table traceability.
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Market Segmentation:
The crop monitoring market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Farm Type: Small Sized Farms, Medium Sized Farms, Large Sized Farms
3) By Technology: Variable Rate Technology, Sensing And Imagery, Automation And Robotics
4) By Application: Field Mapping, Crop Scouting And Monitoring, Soil Monitoring, Yield Mapping And Monitoring, Variable Rate Application, Weather Tracking And Forecasting, Other Applications
Major Driver - Internet Of Things (IOT) Device Adoption Fuels Growth In Crop Monitoring Market
The increasing adoption of Internet of Things (IoT) devices is expected to propel the growth of the crop monitoring market going forward. IoT devices refer to physical objects or devices that are embedded with sensors, software, and connectivity capabilities to collect and exchange data over the internet. Internet of Things (IoT) devices are used for crop monitoring as a transformative approach that leverages technology to enhance agricultural practices and crop management for farmers to make informed decisions, optimize resource use, and maximize crop yield. For instance, in April 2022, according to the CRO Forum (2022), a Netherlands-based high-level discussion group of risk managers published an IoT risk from an insurance perspective. It is anticipated that it will reach 24.1 billion IoT devices by 2030. Additionally, in March 2023, according to Exploding Topics, a US-based online platform that provides insights into emerging and trending topics, it is anticipated that by 2030, there will be 25.4 billion IoT devices. Therefore, the increasing adoption of Internet of Things (IoT) devices is driving the growth of the crop monitoring market.
Competitive Landscape:
Major companies operating in the crop monitoring market report are Topcon Corporation, Trimble Inc., The Climate Corporation (a subsidiary of Bayer AG), Yara International ASA, CropX Technologies Inc., Cropio LLC, Earth Observing System Inc., PrecisionHawk Inc., Ag Leader Technology Inc., Taranis-Visual Ltd., Monsanto Company., Deere & Company, AGCO Corporation, Kasco Manufacturing Co. Inc., Davimac Manufacturing Pty Ltd., Kubota Corporation, Iteris Inc., Farmers Edge Inc., Granular Inc., Sentera LLC, SlantRange Inc., MicaSense Inc., Gamaya SA, AgEagle Aerial Systems Inc., Resson Aerospace Corporation, EOS Data Analytics Inc., Teralytic Inc., Arable Labs Inc., FieldIn Ltd., CropMetrics LLC, Ripe Technology Inc., Terranis Systems GmbH, Hummingbird Technologies Limited, Agribotix LLC, CropIn Technology Solutions Pvt. Ltd., agriXP Inc.
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Top Trend - Innovative Technology Advancements In Crop Monitoring
Major companies operating in crop monitoring market are innovating new technology, such as robots, to provide reliable services to customers. The autonomous crop monitoring robot designed to provide real-time insights into the fields, working plant-by-plant to balance production and efficiency. For instance, in May 2022, Solinftec, a Brazil-based ag-tech company, launched Solix. The Solix robot is solar-powered and equipped with lithium-ion batteries for energy storage. The Solix robot contains an onboard camera and sensors paired with artificial intelligence (AI) technology to monitor plant health, detect insect damage, and detect changes in the field.
The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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