Overview and Scope
Remote sensing technology for agriculture refers to the use of satellite images that take photos of a field over time so that the grower can analyze the data and take action that will increase crop yield.
Sizing and Forecast
The remote sensing technology for agriculture market size has grown strongly in recent years. It will grow from $1.82 billion in 2023 to $1.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to integration of geographic information systems (gis), rise of satellite-based solutions, development of unmanned aerial vehicles (uavs), evolution of image processing techniques, precision agriculture initiatives..
The remote sensing technology for agriculture market size is expected to see strong growth in the next few years. It will grow to $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to government investment and initiatives, focus on sustainable agriculture, iot and sensor integration, precision agriculture adoption, enhanced satellite imaging services.. Major trends in the forecast period include government initiatives and support, emergence of big data analytics, expansion of iot in agriculture, focus on precision agriculture, development of satellite-based solutions..
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Segmentation & Regional Insights
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 Labour Management, Other Applications
Top 5 Major Players:
- Yara International ASA,
- Koch Ag & Energy Solutions,
- Coromandel International Limited,
- Agriculture Solutions Inc.,
- Hafia Groups,
North America was the largest region in the remote sensing technology for agriculture market in 2023. 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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Major Driver Impacting Market Growth
The rising implementation of the agricultural sector is expected to propel the growth of remote sensing technology for the agriculture market going forward. The agricultural sector refers to the cultivation of the soil for growing businesses that are primarily engaged in growing crops. Remote sensing technology for agriculture is used to increase farm output by improving soil properties, and crop species, and monitoring weeds and crop diseases. For instance, in December 2022, according to the United States Department Of Agriculture, a US-based federal agency, the agriculture service contributed 1.264 trillion to the gross domestic product (GDP), and its share was 0.7 in 2021, in order to add value to the economy. Therefore, the rising implementation of the agricultural sector drives remote sensing technology for the agriculture market.
Key Industry Players
Major companies operating in the remote sensing technology for agriculture market are focusing on innovative products, such as cloud platform, to drive revenues in their market. Cloud platform seeks to advance the ways in which technology can address pressing global issues such as climate-resilient agriculture and food security. For instance, in September 2022, CropIn Technology Solutions Pvt. Ltd., an India-based company that provides farm management and traceability solutions using technology, launched a cloud platform. The platform provides a full range of features tailored to the agriculture industry to boost company expansion and quickly and significantly improve the agri-ecosystem through digital means. Cropin Cloud offers data and machine learning, earth observation, and remote sensing capabilities to assist manage crops and harvests more effectively. Cropin Cloud is an integrated, user-friendly platform that accelerates digital transformation throughout the agri-ecosystem by combining a suite of agricultural digitalization applications, ready-to-use, robust data sources, and AI-powered agri-intelligence.
The remote sensing technology for agriculture market report table of contents includes:
1. Executive Summary
2. Remote Sensing Technology for Agriculture Market Characteristics
3. Remote Sensing Technology for Agriculture Market Trends And Strategies
4. Remote Sensing Technology for Agriculture Market – Macro Economic Scenario
5. Global Remote Sensing Technology for Agriculture Market Size and Growth
…..
31. Global Remote Sensing Technology for Agriculture Market Competitive Benchmarking
32. Global Remote Sensing Technology for Agriculture Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Remote Sensing Technology for Agriculture Market
34. Remote Sensing Technology for Agriculture Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Remote Sensing Technology for Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Remote Sensing Technology for Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Remote Sensing Technology for Agriculture Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 51: Yara International ASA Financial Performance
Table 52: Koch Ag & Energy Solutions Financial Performance
Table 53: Coromandel International Limited Financial Performance
Table 54: Agriculture Solutions Inc. Financial Performance
Table 55: Hafia Groups Financial Performance
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