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In-Depth Analysis of the Crop Monitoring Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Crop Monitoring Market
The growth of the crop monitoring market is expected to be fueled by the rising utilization of Internet of Things (IoT) devices. These are physical gadgets or equipment embedded with sensors, software, and ability to connect and exchange data over the internet. IoT devices are seen as a game-changing tactic for crop monitoring, enabling farmers to improve their agricultural practices, make more informed choices, streamline resource usage, and significantly increase crop yield. As a case in point, a risk managers' high-level discussion group based in the Netherlands, the CRO Forum, anticipated in April 2022 an IoT risk from an insurance standpoint. The forecast is that there would be 24.1 billion IoT devices by 2030. Moreover, Exploding Topics, a US-based platform offering insights into developing and trending subjects, expected in March 2023 that by 2030, 25.4 billion IoT devices would be in circulation. Therefore, the crop monitoring market is experiencing growth driven by the increasing usage of IoT devices.
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What is the future CAGR of the crop monitoring market, and how will it impact industry expansion?
In recent times, the market size of crop monitoring has experienced swift growth. It is projected to expand from $3.3 billion in 2024 to $3.83 billion in 2025, achieving a compound annual growth rate (CAGR) of 16.1%. The historical growth surge is due to factors such as the escalating need for food security, environmental considerations, strategies initiated by the government, as well as the integration of data analytics and artificial intelligence.
In the forthcoming years, the market size of crop monitoring is projected to witness a swift expansion. The market is anticipated to escalate to $7 billion by 2029, with a compound annual growth rate (CAGR) of 16.3%. Factors contributing to this rise in the forecast period include the implementation of precision agriculture, mitigation of climate change, and an increasing demand for organic farming. Some significant trends in this period encompass market broadening, alliance with IoT and big data, synergies and collaborations, artificial intelligence and machine learning, and traceability from the farm to the table.
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What are the most significant trends transforming the crop monitoring market today?
Significant businesses in the crop monitoring industry are introducing cutting-edge technology like robots to offer dependable services to their clientele. These autonomous crop monitoring robots are engineered to deliver real-time data on the field's conditions, adjusting from one plant to another to optimize production and effectiveness. For example, Solinftec, an ag-tech firm based in Brazil, introduced Solix in May 2022. Powered by solar energy and packed with lithium-ion batteries for energy reservation, the Solix robot is fitted with an onboard camera and sensors that use artificial intelligence (AI) technology to track plant health, spot insect harm, and identify variations in the field.
Which key market segments comprise the crop monitoring market and drive its revenue growth?
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
Subsegments:
1) By Hardware: Sensors, Drones, IoT Devices, Imaging Systems
2) By Software: Data Analytics Software, Farm Management Software, Decision Support Systems, Mobile Applications
3) By Services: Consulting Services, Data Management Services, Training And Support Services, Customization Services
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What regions are at the forefront of crop monitoring market expansion?
North America was the largest region in the crop monitoring market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crop monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the crop monitoring market?
Major companies operating in the crop monitoring market include 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, 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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What Is Covered In The Crop Monitoring Global Market Report?
•Market Size Forecast: Examine the crop monitoring market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the crop monitoring market for a structured understanding.
•Key Players Overview: Analyze major players in the crop monitoring market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the crop monitoring market.
•Segment Contributions: Evaluate how different segments drive overall growth in the crop monitoring market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the crop monitoring market.
•Industry Challenges: Identify potential risks and obstacles affecting the crop monitoring market.
•Competitive Landscape: Review strategic developments in the crop monitoring market, including expansions, agreements, and new product launches.
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