What Factors Propelled The Growth Of The Smart Crop Monitoring Market In The Past?
The smart crop monitoring market has seen considerable growth due to a variety of factors.
• The market size for smart crop monitoring has seen quick expansion in the last few years. It is projected to increase from a size of $3.47 billion in 2024 to $4.1 billion in 2025, boasting a compound annual growth rate (CAGR) of 18.4%.
This steady growth in the historical period can be credited to several factors, such as the surge in demand for abundant crop production, an escalating global population, noticeable advancements in IOT technology, a growing requirement for ecologically friendly agricultural practices, and mounting regulatory pressures.
What Is The Projected Growth And Market Size For The Smart Crop Monitoring
The smart crop monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the smart crop monitoring market, with rapid expansion forecasted in the coming years. It's projected to rise to $7.97 billion by 2029, boasting a compound annual growth rate (CAGR) of 18.1%.
The surge during this forecast time frame is likely due to advancements in automated irrigation systems, the increasing popularity of farm-to-table initiatives, a boost in agricultural cooperatives and collaborations, a heightened focus on minimising waste in supply chains, and considerable growth in real-time weather prediction. Notable trends within the forecast period include technology advancements, controlled environment farming, regenerative farming practices, soil condition surveillance, and interlinked technologies.
Which Drivers Are Accelerating Growth In The Smart Crop Monitoring Market?
The smart crop monitoring market is poised for growth due to the increasing demand for food, directly linked to a rising global population and growing incomes. The latter factor enhances consumption of a wide variety of food products. Smart crop monitoring, which provides real-time information on crop health, soil conditions, weather patterns, and resource usage, aids in increasing food production efficiency. This technology assists farmers in making data-driven decisions on irrigation, fertilization, and pest control. It thus optimizes farm output, minimizes resource wastage, and boosts the quality of food. Notably, in April 2024, a report from the United States Department of Agriculture, a government agency, estimated that the agriculture, food, and related industries accounted for roughly $1.530 trillion of the U.S. gross domestic product (GDP) in 2023, translating to 5.6% of the total. U.S. farms made a contribution of $203.5 billion, which equates to about 0.7% of the GDP. Consequently, the demand for food is serving as a significant drive behind the growth of the smart crop monitoring market.
What Are The Main Segments Of The Global Smart Crop Monitoring Market?
The smart crop monitoring market covered in this report is segmented –
1) By Type: Hardware, Software, Services
2) By Technology: Sensing And Imagery, Variable-Rate Technology (VRT), Guidance Technology, Automation And Robotics
3) By Applications: Soil Monitoring, Weather Forecasting, Yield Monitoring, Crop Protection, Other Applications
Subsegments:
1) By Hardware: Sensors, Drones And UAVs (Unmanned Aerial Vehicles), IoT Devices For Agriculture, Cameras And Imaging Systems
2) By Software: Crop Management Software, Data Analytics and Visualization Tools, Mobile Applications for Field Monitoring, Remote Sensing Software
3) By Services: Consulting and Advisory Services, Data Collection and Analysis Services, Training And Support Services, Customization And Integration Services
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What Emerging Trends Are Influencing The Growth Of The Smart Crop Monitoring Market?
Leading businesses in the smart crop monitoring industry are concentrating their efforts on leveraging cutting-edge technology such as AI-powered sensing systems to achieve a competitive edge. These technologies merge AI with sophisticated sensors to actively detect, assess and evaluate data from the surrounding environment. For example, in April 2023, GeoPard Agriculture, an analytics and climate data enterprise based in Germany, launched a top-notch analytics platform designed for farmers and dealers leveraging John Deere tech. The platform grants access to features like field mapping, variable rate application (VRA) maps, scouting equipment and data integration features. Its goal is to assist farmers in streamlining their activities and in making informed, data-led decisions for increased efficiency and profitability. Furthermore, GeoPard's analytics platform supplements the myjohndeere operations center by providing insights into yield, soil status, topography, and satellite image analytics, enabling users to gain a thorough understanding of their farming processes.
Who Are the Key Players in the Smart Crop Monitoring Market?
Major companies operating in the smart crop monitoring market are include:
•Microsoft Corporation
• Robert Bosch GmbH
• Airbus SE
• International Business Machines Corporation
• Deere & Company
• Yara International
• CNH Industrial N.V.
• KUBOTA Corporation
• AGCO Corporation
• CLAAS Group
• Trimble Inc.
• SZ DJI Technology Co. Ltd.
• Raven Industries Inc.
• Climate LLC
• Solinftec
• Semios
• Taranis
• Prospera Technologies
• AGRIVI
• S4 AgTech
• Small Robot Company
What Is The Most Dominant Region In The Smart Crop Monitoring Market?
North America was the largest region in the smart crop monitoring market in 2024. The regions covered in the smart crop monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
