Covina, Feb. 02, 2024 (GLOBE NEWSWIRE) -- “According to the recent research study, the Crop Monitoring Market size was valued at about USD 4.2 Billion in 2024 and expected to grow at CAGR of 15.30% to extend a value of USD 17.2 Billion by 2034.”
What is Crop Monitoring?
- Market Overview:
Crop Monitoring is a crucial aspect of modern agriculture that involves the systematic observation and assessment of crops throughout their growth cycle. It leverages advanced technologies such as remote sensing, satellite imagery, drones, and data analytics to collect and analyze information about crop health, growth, and environmental conditions. The goal of crop monitoring is to optimize agricultural practices, improve yield predictions, and make informed decisions to enhance overall crop productivity and sustainability.
Crop Monitoring involves, the use of satellites, drones, or other aerial platforms to capture imagery and data about crops and their surroundings. Remote sensing provides valuable information about plant health, growth patterns, and potential issues such as pests or diseases. Crop monitoring enables the implementation of precision agriculture practices. By using real-time data, farmers can optimize the use of resources such as water, fertilizers, and pesticides, reducing waste and environmental impact.
- Market Dynamics:
Driving Factors:
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- Advances in satellite technology, drones, and other remote sensing tools have significantly improved the ability to collect detailed and real-time information about crop conditions.
- The ability to analyze large datasets quickly and accurately using machine learning algorithms and data analytics has become essential in deriving meaningful insights from the vast amount of information collected through monitoring.
- Crop monitoring facilitates precision agriculture by enabling farmers to optimize the use of resources such as water, fertilizers, and pesticides. This leads to increased efficiency, reduced environmental impact, and cost savings.
- Crop monitoring assists in maximizing crop yields through informed decision-making, contributing to global efforts to address food security challenges.
- Growing consumer demand for high-quality, sustainably produced crops with traceable origins encourages farmers to adopt monitoring practices to ensure and showcase the quality of their products which drives the target market growth.
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Restrain Factors:
- High initial cost.
- Lack of awareness & education regarding crop monitoring technology.
- Data privacy and security concerns.
- Complexity of integration
- Weather dependency and regulatory hurdles.
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*Note: PMI Sample Report includes,
- Overview & introduction of market study
- Revenue and CAGR of market
- Drivers & Restrains factors of market
- Major key players in market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent development/news of market
- Opportunities & Challenges of Market
Report Scope:
| Attribute | Details |
| Base year for estimation | 2023 |
| Forecast period | 2023 – 2034 |
| Market representation | Revenue in USD Billion & CAGR from 2023 to 2034 |
| Market Segmentation | By Farm Type - Large, Medium, and Small By Offering - Services, Hardware, and Software By Technology - Automation & Robotics, Variable Rate, Sensing & Imagery By Application - Soil Monitoring, Field Mapping, Crop Scouting, Variable rate application, Yield mapping and monitoring, Weather tracking and forecasting, and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Top Leading Players in Crop Monitoring Market:
- Trimble
- Topcon Corporation
- Yara International
- The Climate Corporation
- CropX Technologies
- Taranis
- Cropio
- AgLeader
- PrecisionHawk
- Earth Observing System
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Emerging Trends and Opportunities in Crop Monitoring Market:
- Integration of artificial intelligence and machine learning to analyze large datasets from crop monitoring, providing predictive insights into crop health, yield, and potential issues.
- Blockchain technology is being explored to enhance traceability in agriculture. By recording and verifying each transaction in the supply chain, it ensures transparency and authenticity of data related to crop production, processing, and distribution.
- IoT sensors are being deployed extensively to monitor environmental conditions such as soil moisture, temperature, and humidity. These sensor networks provide real-time data, contributing to more accurate and localized decision-making.
- Regulatory advancements are allowing for beyond visual line of sight drone operations.
- The rise of online platforms dedicated to agricultural technology solutions allows farmers to easily access and adopt crop monitoring technologies. These platforms often provide a marketplace for various agtech products and services.
Challenges of Crop Monitoring Market:
- Cost barriers.
- Lack of skills & training.
- Infrastructure limitations.
- Privacy & security concern.
- Interoperability challenges such as compatibility issues.
Recent Development:
- In June 2022, FarmSense an agtech startup launched new “FlightSensor”, a real-time pest monitoring system for commercial framers to manage pests and to optimize the yield of crop. The new “FlightSensor” utilize patented technology, machine learning, artificial intelligence, and real-time analytics to improve crop management efforts, and to improve insect monitoring.
Key highlights of the Crop Monitoring Market:
- Technological advancement in remote sensing and sensor technology improves the ability to collect detailed and real-time information about crop conditions.
- Data analytics and artificial intelligence to analyze largest datasets quickly and accurately.
- Increased demand for food safety by providing early warning systems, yield optimization to address food security challenges.
- Government support in the form of subsidies or incentives for adopting modern agricultural technologies, including crop monitoring, encourages farmers to invest in these practices.
- North America is likely to dominate the Crop Monitoring Market because of the continuous technological development, and presence of agri-tech giants such as John Deere, Trimble, AGCO, etc.
Conclusion:
Crop Monitoring Market is experiencing significant growth driven by the widespread adoption of precision agriculture technologies. Advanced sensors, satellite imagery, and data analytics are enhancing crop monitoring, enabling informed decision-making for improved yield and resource management. Integration of artificial intelligence and machine learning is further boosting efficiency. Collaborations between technology providers and agriculture stakeholders are fostering innovation in sustainable and precision farming practices. As global food demand rises, the Crop Monitoring Market plays a crucial role in supporting modern agriculture, and stakeholders should stay informed about emerging technologies and market trends for strategic positioning.
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