Press release
2025-2034 Remote Sensing Technology for Agriculture Market Roadmap: Insights for Competitive Advantage
Remote Sensing Technology for Agriculture Market
How Large Will the Remote Sensing Technology for Agriculture Market Size By 2025?
In recent years, the market size of remote sensing technology for agriculture has witnessed a significant increase. The market worth is expected to escalate from $1.93 billion in 2024 to $2.08 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. Factors such as the integration of geographic information systems (GIS), the emergence of satellite-based solutions, the progression of unmanned aerial vehicles (UAVs), the advancement in image processing methodologies, and initiatives related to precision agriculture have contributed to the growth during the historic period.
How Big Is the Remote Sensing Technology for Agriculture Market Size Expected to Grow by 2029?
The market size for agricultural remote sensing technology is poised for significant expansion in the near future. The market is projected to reach $3.05 billion by 2029, with a compound annual growth rate (CAGR) of 10.0%. This growth during the forecast period is due to factors such as government contributions and campaigns, emphasis on environmental-friendly farming, the incorporation of IoT and sensors, the adoption of precision farming, and the improvement of satellite imaging services. Key trends during the forecast period comprise governmental support and initiatives, the emergence of large-scale data analysis, the enlargement of IoT application in farming, focus on precise farming techniques, and the evolution of satellite-based solutions.
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Which Key Market Drivers Powering Remote Sensing Technology for Agriculture Market Expansion and Growth?
The burgeoning application of the agricultural sector is anticipated to fuel the expansion of the remote sensing technology for agriculture market in the future. Principally involved in crop cultivation, the agricultural sector refers to the earth's tilling for growing businesses. Remote sensing technology in agriculture aims to enhance farm yield via ameliorating soil properties, crop species, and regulating weeds and crop ailments. For instance, Victoria's agriculture and food industries had disclosed in August 2024 that the gross value of agricultural production (GVAP) of Victoria, according to the Australia-based Department of Agriculture and Food Security, reached an unprecedented high of $20.2 billion in the year 2021-22. This corresponded to a significant increase of 15%, or $2.7 billion, compared to the GVAP of the preceding year. Consequently, the increasing application of the agricultural sector propels the market for remote sensing technology in agriculture.
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Which Fast-Growing Trends Are Poised to Disrupt the Remote Sensing Technology for Agriculture Market?
As we observe the key trends in the remote sensing technology for the agriculture market, strategic collaborations are becoming increasingly prevalent. Top companies in this market are partnering to innovate in agricultural practices. Take for example, in January 2022, a partnership was formed between the US-based multinational company, General Mills Inc., and UK based agritech company, Regrow Agriculture Inc. Their collaborative goal is to oversee agricultural practices and expand their global opportunities. In another instance in February 2023, EOS Data Analytics (EOSDA), a US-based AI satellite imagery analytics provider, forged a partnership with Agrvision. This joint venture seeks to not only address pressing issues in ecosystems, agriculture, and sustainability, but also to further the regenerative agriculture intentions of participating farmers. The aim of this coalition is to enable local farmers to make informed decisions on crop growth by providing in-depth agricultural analytics and knowledge of remote sensing technologies. Agrvision, hailing from Kenya, offers agri-tech solutions to the agriculture and forestry markets.
What Are the Emerging Segments in the Remote Sensing Technology for Agriculture Market?
The remote sensing technology for agriculture market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking And Forecasting, Irrigation Management, Inventory Management, Farm Labor Management, Other Applications
Subsegments:
1) By Hardware: Sensors, Drones And UAVs (Unmanned Aerial Vehicles), Ground-Based Equipment
2) By Software: Data Analytics Software, Geographic Information System (GIS) Software, Image Processing Software
3) By Services: Data Acquisition And Management Services, Consulting And Advisory Services, Training And Support Services
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Who Are the Global Leaders in the Remote Sensing Technology for Agriculture Market?
Major companies operating in 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., Honeywell International Inc., Green Peak Technologies LLC, ABB Ltd., Kheti Buddy Pvt. Ltd., Trimble Inc., PrecisionHawk Inc., Deere & Company, Ag Leader Technology, Raven Industries Inc., Topcon Corporation, AgJunction Inc., SST Software BV, The Climate Corporation, Iteris Inc., Taranis Inc., Gamaya, MicaSense Inc., TerrAvion Inc., Descartes Labs, CropX Technologies Inc., Granular Inc.
Which are the Top Profitable Regional Markets for the Remote Sensing Technology for Agriculture Industry?
North America was the largest region in the remote sensing technology for agriculture market in 2024. The regions covered in the remote sensing technology for agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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