What Has Been The Historical And Current Growth Of The Crop Monitoring Market?
The crop monitoring market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the size of the crop monitoring market in the past few years. It is expected to escalate from a value of $3.3 billion in 2024 to around $3.83 billion in 2025, at a compound annual growth rate (CAGR) of 16.1%.
The progress during the historical period can be credited to the rising demand for food security, environmental worries, governmental endeavors, data analysis and artificial intelligence.
What Is The Forecast For The Crop Monitoring Market By 2029?
The crop monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for crop monitoring is predicted to experience swift expansion in the upcoming years, reaching a value of $7 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 16.3%.
This anticipated increase over the forecast period can be linked to the adoption of precision agriculture, efforts to reduce climate change, and the escalating demand for organic farming. The prominent trends expected during this forecast period involve market proliferation, amalgamation with Internet of Things (IoT) and big data, strategic alliances and collaborations, the rise of artificial intelligence and machine learning, and end-to-end farm to table traceability.
Which Key Drivers Are Propelling The Crop Monitoring Market's Growth?
Expectations are high that the growth of the crop monitoring industry will be accelerated by the rising use of Internet of Things (IoT) devices. These IoT devices are physical objects equipped with sensors and software that facilitate data exchange over the internet. They are now being employed for crop monitoring, acting as a revolutionary method that employs technology to improve farming techniques and crop management, aiding farmers in making informed decisions, optimizing resource utilization, and maximizing crop yield. As an example, the CRO Forum, a high-level group of risk managers based in the Netherlands, reported in April 2022 about an IoT risk from an insurance viewpoint. It is forecasted to rise to 24.1 billion IoT devices by 2030. In addition, according to the US online platform, Exploding Topics, in March 2023, there is an expected 25.4 billion IoT devices by 2030. Thus, the expanding use of Internet of Things (IoT) devices is a significant driving factor for the advancement of the crop monitoring industry.
What Are The Key Segments Within The Global Crop Monitoring Market?
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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How Are New Trends Impacting The Size Of The Crop Monitoring Market?
Leading organizations involved in the crop monitoring market are introducing cutting-edge technology like robots to offer dependable services to their clients. The self-sufficient crop monitoring robot is engineered to deliver real-time data from the fields, managing each plant to optimize productivity and efficiency. For example, in May 2022, Solinftec, an ag-tech enterprise from Brazil, introduced Solix. This solar-powered Solix robot is fitted with lithium-ion batteries for power storage. It also houses an integrated camera and sensors, which combined with artificial intelligence (AI) technology, can monitor plant condition, identify insect harm, and track field modifications.
Who Are the Key Players 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.
What are the Regional Insights into the Crop Monitoring Market?
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
