The agricultural sensors market was valued at US$3.655 billion in 2022 and will grow at a CAGR of 11.17% to reach US$7.668 billion in 2029.
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Agricultural sensors are important technologies that can remodel contemporary agricultural strategies by providing real-time records on soil, weather, and crop conditions. These sensors enable farmers to make educated decisions about irrigation, fertilization, and pest management, resulting in better resource utilization and higher yields.
Integrating advanced analytics and farm management software improves decision-making skills, resulting in greater sustainability and money-making agricultural operations. As the call for accuracy and efficiency in agriculture rises, agricultural sensors will play an increasingly vital role in boosting the future of farming.
The main attributable factors within the market boom are the increasing demand for agricultural products, increasing population, technological improvements, and restricted herbal assets. Thus, this era should play a bigger role in producing enough agricultural products to feed the growing population. Location, optical, electrochemical, mechanical, dielectric, and illumination sensors are some of the major forms of agricultural sensors available in the market.
The global population is constantly increasing, and so are the meals consumed. In keeping with the estimates of the UN, the demand for meals will increase by 50% by 2050, thereby increasing the need for agricultural sensors globally. These agricultural sensors provide farmers with improved yield and numerous benefits, including reducing nutrient depletion via monitoring soil fitness, maximizing water performance, decreasing chemical and pesticide usage, and lowering carbon dioxide emissions by lowering gasoline and power consumption. These factors tend to impact the rural sensors market size.
Agricultural sensors are used for diverse functions, including dairy control, soil management, weather management, and water control. Humidity sensors are blended with weather stations to investigate weather situations. Optical and electrochemical sensors are being used for soil management.
It helps determine the O2 and CO2 contents, along with the pH and other soil nutrients. Image-capturing sensors are also available in the market, which help detect pests, thereby providing farmers with information about the infected crop area. These wider applications and constant advancements aid the growth of the agricultural sensors market size.
Agriculture depends on climate conditions and weather changes. The growing temperatures and the rapid climate change adversely affect the agricultural zone. According to the Intergovernmental Panel on Climate Change, the rising heat and rainfall are degrading land, therefore decreasing soil nutrients and organic matter, which has terrible results on crop yields. Overall, India lost 5.04 million hectares (mha) of agricultural area to cyclonic storms, flash floods, floods, landslides, and cloudbursts by November 25, 2021. These unfavorable results show the need for agricultural technologies such as sensors to increase crop yield and enrich the soil.
Agricultural companies are adopting the Internet of Things (IoT) technologies for higher production capabilities. For instance, a Bengaluru-based startup, Cropln, provides a future-ready farming solution through its self-evolving system. Agricultural sensors can now be linked with smartphones, and from there, the farmers can collect and analyze environmental parameters such as soil quality, temperatures, and other variables. This advancement is anticipated to propel the agricultural sensors market growth.
According to the US Department of Agriculture report, site-specific management will be the driving factor for adopting agricultural sensors. US NIFA supports developing and implementing robust agricultural sensors to model and analyze environmental parameters for greater crop yield.
Furthermore, the Indian Government provides financial assistance to agri-tech-based startups. For instance, the government partnered with Microsoft to develop smart agricultural AI sensors. These government schemes and their support show the market potential of agricultural sensors during the projected period.
The North American agricultural sensor market is anticipated to increase extensively due to various factors. With a long record of technical innovation in agriculture, North America has been at the leading edge in enforcing precision agriculture methods. This tendency, combined with big advances in sensor generation, especially in IoT and AI, has opened the door to complex and accurate agricultural sensors.
As farmers attempt to optimize resource utilization, increase output, and reduce hazards, the need for agricultural sensors grows. This upward trend highlights the critical role that sensor technology plays in modernizing and enhancing the efficiency of North America's agriculture industry.
Agricultural Sensors Market Segmentation: