Press release
Escalation of Remote Sensing Technology for Agriculture Market with Predicted CAGR of 10% by 2029 Pulling the Market Size to $3.05 billion
Remote Sensing Technology for Agriculture Market
What Is The Projected Market Size Of The Global Remote Sensing Technology for Agriculture Market And Its Growth Rate?
- The market size for Remote Sensing Technology for Agriculture has experienced significant growth, it is predicted to escalate from $1.93 billion in 2024 to $2.08 billion in 2025 with a compound annual growth rate (CAGR) of 7.7%.
- This growth is due to factors such as the integration of geographic information systems (GIS), satellite-based solutions, unmanned aerial vehicles (UAVs), image processing techniques, and precision agriculture initiatives.
- Further, it is estimated that the market size will reach $3.05 billion in 2029 at a compound annual growth rate (CAGR) of 10%, driven by government initiatives and focus on sustainable agriculture, IoT, sensor integration and enhanced satellite imaging services.
What Is Driving The Growth In The Remote Sensing Technology for Agriculture Market?
The increase in agricultural activities is the primary driver for the growth of the remote sensing technology for agriculture market. The sector, which mainly focuses on soil cultivation for growing crops, leverages remote sensing technology to enhance farm output by improving soil properties, crop species, and monitoring weeds and crop diseases. For example, Victoria's agriculture and food industries reached a record high for agricultural production value in 2021-22, accelerating by 15%, or $2.7 billion, compared to the previous year. As a result, the rising implementation of the agricultural sector supports the market growth of remote sensing technology for agriculture.
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Who Are the Key Players Driving Remote Sensing Technology for Agriculture Market Growth?
The key players contributing to the growth of the remote sensing technology for agriculture market include:
- Yara International ASA
- Koch Ag & Energy Solutions
- Coromandel International Limited
- Agriculture Solutions Inc.
- Sapec Agro S.A
- Kugler Company
- ICL Group Ltd.
What Are The Key Trends In The Remote Sensing Technology for Agriculture Market?
The primary trends driving the remote sensing technology for the agriculture market include:
- Government initiatives and support
- Emergence of big data analytics
- Expansion of IoT in agriculture
- Focus on precision agriculture
- Development of satellite-based solutions
What Are The Segments Of The Global Remote Sensing Technology for Agriculture Market?
The sections of the Remote Sensing Technology for Agriculture Market are:
- By Component: Hardware, Software, Services
- By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking And Forecasting, Irrigation Management, Inventory Management, Farm Labor Management, Other Applications
Which Region Leads The Remote Sensing Technology for Agriculture Market?
North America held the largest share in the remote sensing technology for agriculture market in 2024. The other regions that contribute significantly to the market include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Remote Sensing Technology for Agriculture Market Global Market Report?
- Market Size Analysis: Analyze the Remote Sensing Technology for Agriculture Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Remote Sensing Technology for Agriculture Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Remote Sensing Technology for Agriculture Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Remote Sensing Technology for Agriculture Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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