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Crop Monitoring Market Trends, Market Share, Size, Growth Status And Forecast To 2033
"The Business Research Company recently released a comprehensive report on the Global Crop Monitoring Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
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According to The Business Research Company's, 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 Drivers and Trends:
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.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
Crop Monitoring Market 2024 Key Insights:
• 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%.
• Internet Of Things (IOT) Device Adoption Fuels Growth In Crop Monitoring Market
• Innovative Technology Advancements In Crop Monitoring
• North America was the largest region in the crop monitoring market in 2023
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