Global Crop Monitoring Market Valued at $2.71 Billion in 2023, Expected to Expand at a 6.3% CAGR Through 2030

𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐆𝐫𝐨𝐰𝐭𝐡:

𝐂𝐫𝐨𝐩 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at US$ 2.71 Bn in 2023. The Global Crop Monitoring Market is estimated to grow at a CAGR of 6.3% over the forecast period.

𝐂𝐫𝐨𝐩 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Crop monitoring involves real-time tracking of crop vegetation indices through spectral analysis of high-resolution satellite imagery. This technology enables the observation of crop development dynamics, both positive and negative, across different fields. As technology has advanced, crop monitoring has become crucial for optimizing geospatial technologies and implementing site-specific crop management strategies. The Crop Monitoring Market report categorizes the market based on components, applications, and regions.

Sensoterra offers an affordable, wireless Internet of Things (IoT) solution for monitoring soil moisture levels. This technology provides farmers with real-time insights into soil conditions through sensors and probes that transmit data to smartphones or computers. Understanding crop growth and performance at various stages is essential for effective agricultural management, enabling farmers to make timely adjustments and optimize their yield.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/req_sample/Crop-Monitoring-Market/459

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐂𝐫𝐨𝐩 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬?

Drivers:

The integration of IoT and artificial intelligence (AI) in agriculture is significantly driving the growth of the crop monitoring market. The advent of IoT and AI-based devices has facilitated remote monitoring of crucial parameters such as humidity, air temperature, and soil quality, enhancing crop yields, optimizing irrigation, and improving harvest predictions. Advances in sensor technology and their decreasing costs are contributing to the wider adoption of smart sensors in agriculture. AI enables farmers to gain actionable insights into field conditions, identify areas requiring irrigation, fertilization, or pest control, and explore innovative farming practices like vertical agriculture. These technological advancements are expected to propel the growth of the crop monitoring market.

Restraints:

The growth of the crop monitoring market is constrained by limited awareness and understanding of technology among farmers, particularly in rural areas of developing countries. Challenges such as climate change, soil erosion, biodiversity loss, and evolving consumer preferences also play a role. The digital divide between rural and urban regions in developing nations has hindered the adoption of crop monitoring technologies, affecting market expansion.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐂𝐫𝐨𝐩 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 ?

In 2023, the Asia-Pacific region led the crop monitoring market with a 42% share. This dominance is attributed to the presence of major agri-tech companies like Trimble and John Deere, and strong adoption of agricultural technology in countries such as India, China, Australia, and Japan. Additionally, significant government initiatives aimed at improving and digitizing the agriculture sector in the APAC region are expected to drive further market growth.

The North American region is anticipated to experience a compound annual growth rate (CAGR) of 7.6% during the forecast period. The rapid adoption of agriculture-specific technologies in this region, including precision agriculture, contributes to this growth. According to Cambridge University, precision agriculture has been adopted by approximately 52% of farms in the United States. The U.S. Department of Agriculture's estimates indicate that in 2017, around 2,029,200 farms utilized 950 million acres of land. The government's focus on advancing precision agricultural technologies further supports market expansion in North America.

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰! @https://www.stellarmr.com/report/req_sample/Crop-Monitoring-Market/459

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐂𝐫𝐨𝐩 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 ?

By Application

Field Mapping
Crop Scouting
Soil Monitoring
Yield Monitoring
Weather monitoring and forecasting

By Component

Hardware
Software
Services

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐂𝐫𝐨𝐩 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

Trimble (US)
Topcon Corporation (Japan)
Yara International (Norway)
The Climate Corporation (US)
CropX Technologies (Israel)
Cropio (US)
Earth Observing System (US)
PrecisionHawk (US)
AgLeader (US)
Taranis (Israel)
Agjunction Inc. (US)
Mouser Electronics, Inc (USA)
Pessl Instrument Gmbh (Austria)
John Deere (Moline, IL)
Libelium Comunicaciones Distribuidas S.L. (Spain)

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐥𝐞𝐚𝐬𝐞 𝐕𝐢𝐬𝐢𝐭:https://www.stellarmr.com/report/Crop-Monitoring-Market/459

𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. Firm research on many topics like Healthcare, Pharmaceuticals, Electronics and communications, Chemical and Material, Food and Beverages, Aerospace and defense, and other sectors. The company provide numerous services i.e. consultancy, Market Intelligence, Syndicate Research etc. to help executives in any organization and consumers achieve their mission-critical goals.

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