Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The "Smart Crop Monitoring Market - A Global and Regional Analysis: Focus on Product and Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global smart crop monitoring market was valued at $1,927.83 million in 2021, which is expected to grow with a CAGR of 12.75% and reach $3,955.39 million by 2027. The growth in the global smart crop monitoring market is expected to be driven by increasing demand for food and the growing need for precision, digital, and smart agriculture practices.
Market Lifecycle Stage
The smart crop monitoring market is still in an evolving phase. Increased research and development activities are underway to develop smart crop monitoring technologies and products, which are expected to increase due to the increased demand for food and the need for automation in the agriculture sector.
Increasing investment in smart agriculture is one of the major opportunities in the global smart crop monitoring market. Moreover, smart crop monitoring technologies also help in reducing crop losses due to crop diseases and harsh climatic conditions, which aid the farmers in increasing crop quality and quantity.
Impact
- With an increased worldwide focus on achieving the global food demand, the shift to digital, smart, and data-driven products in the agriculture sectors brings significant sales and financing opportunities. The shift is more prominent in automation and robotics segments in regions such as North America and Europe.
- Furthermore, smart crop monitoring has a moderate to high impact on crop protection systems to reduce crop losses due to crop diseases and pest infestations.
Market Segmentation
by Application
- Soil Monitoring
- Weather Forecasting
- Yield Monitoring
- Crop Protection
- Others
The global smart crop monitoring market in the application segment is expected to be dominated by crop protection technologies. This is due to smart crop monitoring being a highly beneficial methodology to decrease crop losses due to crop diseases, pest infestations, and harsh climatic conditions.
by Type
- Hardware
- Software
- Services
The global smart crop monitoring market is slightly more dominated by the services segment. This is due to the wide variety of services in the form of advisories and consultations, and rental equipment results in the higher adoption and usage by the end users globally.
by Technology
- Sensing and Imagery
- Automation and Robotics
- Variable-Rate Technology (VRT)
- Guidance Technology
The automation and robotics segment dominates the global smart crop monitoring market due to the higher adoption of products such as robots, drones, and unmanned aerial vehicles (UAV).
by Region
- North America - U.S., Canada, and Mexico
- Europe - Italy, Germany, Spain, France, and Rest-of-Europe
- China
- U.K.
- Asia-Pacific - Japan, India, Australia, and Rest-of-Asia-Pacific
- Middle East and Africa - Saudi Arabia, South Africa
- South America - Brazil, Argentina, Rest-of-South America
Demand - Drivers and Limitations
Following are the demand drivers for the smart crop monitoring market:
- Need to Reduce Crop Losses
- Higher Yields as Compared to Conventional farming
- Government Support and Initiatives for Smart Crop Monitoring Equipment
The market is expected to face some limitations too due to the following challenges:
- Cyber and Online Data Security
- Lack of Connectivity and Technical Awareness
- High Set-Up Costs
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The top segment players leading the market include variable-rate technology (VRT) and automation and robotics, which capture around 52% of the presence in the market. Players in other technologies, such as sensing and imagery and guidance technology, account for approximately 48% of the presence in the market, as of 2021.
Some of the prominent names established in this market are:
Company Type 1: Sensing and Imagery
- Ceres Imaging
- CNH Industrial N.V.
- CropIn Technology Solutions Private Limited
- Deere & Company
- PrecisionHawk, Inc.
- Prospera Technologies
- Climate LLC
Company Type 2: Automation and Robotics
- Kubota Corporation
- Raven Industries Inc.
- Robert Bosch GmbH
- Small Robot Company
- Trimble Inc.
Company Type 3: Guidance Technology
- AGRIVI
- Airbus
- Alibaba Group Holding Limited
- IBM Corporation
- Microsoft Corporation
Company Type 4: Variable-Rate Technology (VRT)
- AGCO Corporation
- CLAAS KGaA mbH
- Granular, Inc.
Key Topics Covered:
1 Market
2 Application
3 Product
4 Region
5 Market - Competitive Benchmarking & Company Profiles
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/c54lf3
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