Dublin, Oct. 24, 2024 (GLOBE NEWSWIRE) -- The "Smart Crop Monitoring Market - A Global and Regional Analysis: Focus on End-Use Industry, Type, Process, and Country Level Analysis - Analysis and Forecast, 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global smart crop monitoring market was valued at $4.88 billion in 2023 and is expected to grow at a CAGR of 15.74%, reaching $23.80 billion by 2034
The study defines smart crop monitoring as the process of utilizing advanced technologies to assess and manage various factors affecting crop growth, such as soil conditions, weather patterns, and plant health. Smart crop monitoring employs tools such as sensors, drones, and data analytics to collect real-time information and optimize agricultural practices.
The global smart crop monitoring market is rapidly gaining prominence due to the increasing demand for sustainable farming practices and the growing need to optimize agricultural productivity. Smart crop monitoring leverages advanced technologies such as sensors and data analytics to provide real-time insights into soil conditions, crop health, and weather patterns. As precision agriculture becomes essential in addressing challenges such as resource scarcity, climate change, and food security, governments and industries are adopting these technologies to improve efficiency and sustainability.
The market encompasses a variety of solutions, including IoT-based sensors, drones, and AI-driven analytics, which are critical for monitoring crops, conserving resources, and enhancing yield quality. With the rise of precision farming and the focus on sustainable agriculture, the global smart crop monitoring market is poised for significant growth, driven by technological innovations and the need for comprehensive, data-driven farming solutions.
Industrial Impacts
The global smart crop monitoring market's industrial impact spans agriculture, environmental sustainability, and technological innovation. Advancements in monitoring technologies, such as IoT sensors and data analytics, drive improvements in crop management by enhancing the accuracy and efficiency of monitoring processes. This progress fosters collaborations between farmers, technology developers, and regulatory bodies, elevating industry standards and pushing the boundaries of precision agriculture.
Furthermore, the emphasis on precise and reliable crop monitoring solutions aligns with global goals for food security, resource conservation, and sustainable farming practices, influencing broader agricultural practices and promoting the adoption of eco-friendly, data-driven farming techniques. As a result, the smart crop monitoring market plays a crucial role in improving agricultural productivity, driving technological innovation, and supporting sustainable development initiatives worldwide.
The North America region is set to dominate the global smart crop monitoring market, driven by the widespread adoption of precision agriculture, technological advancements, and strong government support for sustainable farming practices. Countries such as the U.S. and Canada are experiencing a significant rise in demand for smart crop monitoring solutions due to the increasing focus on optimizing crop yields and resource management. The region's well-established agricultural infrastructure, coupled with a strong push for food security and water conservation, has been fueling the adoption of IoT sensors and data analytics.
Governments are implementing policies to encourage sustainable farming, which boosts the demand for advanced monitoring technologies. Additionally, the region's commitment to technological innovation has been promoting the development of sophisticated tools for real-time crop health monitoring and resource optimization. As North America continues to lead in precision agriculture, it is expected to maintain its leadership position in the global smart crop monitoring market, significantly contributing to agricultural efficiency and sustainability through cutting-edge technologies and data-driven farming practices.
The key players operating in the global smart crop monitoring market include CNH Industrial N.V, Deere & Company, Climate LLC, AGRIVI, IBM Corporation, KUBOTA Corporation, Robert Bosch, DJI, AIRBUS, Small Robot Company, Semios, Trimble, Parrot, CropX Inc., Naio Technologies. These companies are focusing on strategic partnerships, collaborations, and acquisitions to enhance their product offerings and expand their market presence.
Disease and Pest Detection Segment to Dominate the Global Smart Crop Monitoring Market (by Application)
In the global smart crop monitoring market, disease and pest detection remains the leading application, driven by the critical need to protect crops and ensure agricultural productivity. Smart crop monitoring is essential for identifying early signs of disease and pest infestations, which can significantly impact yield and quality. With the rise of precision agriculture, farmers are increasingly adopting advanced monitoring technologies to detect threats in real time and implement targeted interventions.
Regulatory frameworks promoting sustainable farming practices, along with the growing awareness of the importance of food security, further fuel the demand for disease and pest detection solutions. As concerns about crop health intensify and precision monitoring tools advance, the demand for disease and pest detection is expected to grow significantly, ensuring it remains a vital component in optimizing crop yields and sustainability.
Software Scouting to Dominate the Global Smart Crop Monitoring Market
In the global smart crop monitoring market, software scouting leads the market due to its unparalleled ability to process real-time data and provide actionable insights for farmers. This advanced technology is essential for monitoring crop health, detecting pest and disease threats, and optimizing resource management. The increasing adoption of precision agriculture and the need for efficient farm management have boosted the demand for software scouting solutions.
Furthermore, growing awareness of the benefits of data-driven farming practices is driving the adoption of these tools. As the need for accurate, real-time monitoring intensifies, the use of software scouting in smart crop monitoring is expected to grow significantly, solidifying its position as a critical product for enhancing agricultural productivity and sustainability.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps readers understand the various applications of smart crop monitoring technologies based on use cases (such as soil health monitoring, weather forecasting, pest and disease detection, water management, and yield prediction). It covers different technologies, including IoT sensors, drones, and data analytics platforms. With ongoing advancements in precision agriculture, increased investments, and growing awareness of sustainable farming, the smart crop monitoring business offers a high-revenue, high-investment opportunity.
Growth/Marketing Strategy: The global smart crop monitoring market is rapidly expanding, offering substantial opportunities for both established and emerging market players. Key strategies covered include mergers and acquisitions, product launches, partnerships, collaborations, and business expansions. Companies in this market tend to focus on product innovation and development to maintain and strengthen their market position.
Competitive Strategy: The report profiles key players in the global smart crop monitoring market, including technology providers and Agri-Tech companies. It offers a comprehensive view of the competitive landscape, including partnerships, agreements, and collaborations, helping readers identify untapped revenue opportunities in the market.
Recent Developments in the Global Smart Crop Monitoring Market
- In February 2024, CropX Technologies, a global provider of digital agriculture solutions, announced the launch of a new product in collaboration with Reinke Irrigation to enhance water management for farmers through precise, field-specific Evapotranspiration (ET) measurements of crop water usage. Reinke Irrigation Direct ET by CropX is an innovative solution that delivers cost-effective Actual Evapotranspiration (ET) measurements via a sensor integrated into Reinke's center pivot irrigation systems, which is available exclusively through Reinke Irrigation.
Key Market Players and Competition Synopsis
- CNH Industrial N.V
- Deere & Company
- The Climate Corporation
- AGRIVI
- IBM Corporation
- KUBOTA Corporation
- Robert Bosch GmbH
- DJI
- AIRBUS
- Small Robot Company
- Semios
- Trimble Inc.
- Parrot
- CropX Inc.
- Naio Technologies
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 121 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $5517.8 Million |
| Forecasted Market Value (USD) by 2034 | $23803.6 Million |
| Compound Annual Growth Rate | 15.7% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
Scope and Definition
1 Markets
1.1 Global Smart Crop Monitoring Market: Current and Future
1.1.1 Increasing Demand for Organic Farming Practices
1.1.2 Growing Focus on Climate-Resilient Farming Practices
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.2 Price Comparison
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Country and Company)
1.4 Regulatory Landscape
1.5 Stakeholder Analysis
1.5.1 Use Case
1.5.2 End User and Buying Criteria
1.6 Market Dynamics: Overview
1.6.1 Market Drivers
1.6.1.1 Increasing Number of Pest Variant Drives Demand for Smart Monitoring Technologies
1.6.1.2 Growing Need for Affordable Crop Health Monitoring Solution
1.6.2 Market Restraints
1.6.2.1 Growing Concerns Over Data Security
1.6.2.2 Limited Network Connectivity
1.6.3 Market Opportunities
1.6.3.1 Partnerships with Agri-Tech Startups
1.6.3.2 Customization for Specialty Crops
2 Application
2.1 Application Segmentation
2.2 Application Summary
2.3 Global Smart Crop Monitoring Market (by End-Use Industry)
2.3.1 Disease and Pest Detection
2.3.2 Nutrient Management
2.3.3 Weed Management
2.3.4 Crop Insurance
3 Products
3.1 Product Segmentation
3.2 Product Summary
3.3 Smart Crop Monitoring Market (by Type)
3.3.1 Sensor Technology
3.3.2 Drones
3.3.3 Robots
3.3.4 Software Scouting
4 Regions
4.1 Global Smart Crop Monitoring Market (by Region)
4.2 North America
4.2.1 Regional Overview
4.2.2 Driving Factors for Market Growth
4.2.3 Factors Challenging the Market
4.2.4 Application
4.2.5 Product
4.2.6 North America (by Country)
4.2.6.1 U.S.
4.2.6.2 Canada
4.2.6.3 Mexico
4.3 Europe
4.3.1 Regional Overview
4.3.2 Driving Factors for Market Growth
4.3.3 Factors Challenging the Market
4.3.4 Application
4.3.5 Product
4.3.6 Europe (by Country)
4.3.6.1 Germany
4.3.6.2 France
4.3.6.3 Spain
4.3.6.4 Italy
4.3.6.5 U.K.
4.3.6.6 Rest-of-Europe
4.4 Asia-Pacific
4.4.1 Regional Overview
4.4.2 Driving Factors for Market Growth
4.4.3 Factors Challenging the Market
4.4.4 Application
4.4.5 Product
4.4.6 Asia-Pacific (by Country)
4.4.6.1 China
4.4.6.2 Japan
4.4.6.3 India
4.4.6.4 Australia
4.4.6.5 Rest-of-Asia-Pacific
4.5 Rest-of-the-World (by Region)
4.5.1 Middle East and Africa
4.5.1.1 Regional Overview
4.5.1.2 Driving Factors for Market Growth
4.5.1.3 Factors Challenging the Market
4.5.1.4 Application
4.5.1.5 Product
4.5.2 Latin America
4.5.2.1 Regional Overview
4.5.2.2 Driving Factors for Market Growth
4.5.2.3 Factors Challenging the Market
5 Markets-Competitive Benchmarking and Company Profiles
5.1 Next Frontiers
5.2 Geographic Assessment
5.3 Company Profiles
5.3.1 Overview
5.3.2 Top Products/Product Portfolio
5.3.3 Top Competitors
5.3.4 Target Customers/End Users
5.3.5 Key Personnel
5.3.6 Analyst View
6 Research Methodology
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