Surging demand to increase yields is driving the growth in Global Crop Monitoring Market in the forecast period, 2022-2026. According to TechSci Research report, “Global Crop Monitoring Market By Offering (Hardware, Software, Services) By Technology (Sensing & Imagery, Variable Rate Technology, Automation & Robotics) By Farm Type (Small, Medium, Large) By Application (Field Mapping, Crop Scouting & Monitoring, Soil Monitoring, Yield Mapping & Monitoring, Others) By Region, Competition Forecast & Opportunities, 2026”, the global crop market may potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of increase in the adoption of crop monitoring devices due to availability of products awareness among the farmer community.
The Important Aspects of the Global Crop Monitoring Market
increased production cost savings from the technology adoption is further substantiating the growth of the global crop monitoring market in the upcoming five years. Additionally, increased adoption of the internet of things, and artificial intelligence in the agricultural sector for the maintenance and monitoring the crop health and to monitor crop yields, the factor is anticipated to drive the growth of the global crop monitoring market in the next five years.
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The global crop monitoring market is segmented by offering, technology, farm type, application, competitional landscape, and regional distribution. Based on technology, the market is further fragmented into sensing & imagery, variable rate technology, automation & robotics. Sensing and imagery are anticipated to dominate the market segment while owning maximum revenue shares of the market in the upcoming five years on the account of higher adoption of remote sensing technology by the farmers enabling them to monitor their farms remotely, along with a surge in demand for efficient and more advanced method incorporation. Moreover, the automation and robotics sub-segment is expected to register the fastest-growing CAGR in the next five years on the account of rising labor crisis, and lack of appropriate pay for labor in various countries.
Based on farm type, the market is differentiated into small, medium, and large farms. Medium farms are expected to generate maximum revenue shares meanwhile maintaining the lower investment and dominating the market segment on the account of a surging number of medium-sized farms. With lower investment and technological advancements returns earned by the farmers are significant. Technologies like remote sensing, automation, and robotics, are supporting the growth of the sub-segment.
Based on the offering, the market is further bifurcated into hardware, software, and services. Services are anticipated to register the fastest growing CAGR on the account of rapidly increasing demands for advanced technological aids for crop monitoring. Surging demand for the analysis of national-level data for soil moisture, agricultural vegetation NDVI, and forecasted & actual values of rainfall & other weather conditions are supporting the growth of the global crop market in the upcoming five years. Moreover, the software is expected to hold the largest revenue shares of the market and dominate the segment in the next five years on the account of rapidly evolving technological advancements. Software to analyze the soil moisture, nutrient content of the soil, weather conditions, etc., and to analyze the future prospect of the land and its yield is available and advancing, thereby supporting the growth of the global crop monitoring market in the future five years of forecast.
Holding the major shares of the global crop monitoring market
- Trimble Inc.
- Topcon Corporation
- Yara International ASA
- The Climate Corporation
- CropX Technologies Ltd.
- Deere & Company
- Syngenta Group
- Precision Hawk, Inc.
- Ag Leader Technology Inc.
- AAA Taranis Visual Ltd, among others. Market players are actively involved in research and technological development in product development. The advanced technology has made it possible for the industry to provide excellent services through crop monitoring. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on research and development to provide options that satisfy consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North America is anticipated to hold the largest revenue shares if the market is compared regionally. The market in larger economies like the United States shows a promising future. The growth factors like the presence of agricultural-tech giants and an increasing number of new players are supporting the growth of the global crop monitoring market in the future five years. Asia Pacific region may also rapidly show prominent growth with the fastest growing CAGR in the upcoming five years with a high degree of adoption of agriculture technology in the countries like India, China, Australia, and Japan. New market players are advised to invest in consistent and detailed research and advancing their technologies for the future brand establishment and to maintain their position in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
“Global Crop Monitoring Market By Offering (Hardware, Software, Services) By Technology (Sensing & Imagery, Variable Rate Technology, Automation & Robotics) By Farm Type (Small, Medium, Large) By Application (Field Mapping, Crop Scouting & Monitoring, Soil Monitoring, Yield Mapping & Monitoring, Others) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global crop monitoring and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global crop monitoring market.
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