Crop Monitoring Technology Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Field Mapping, Soil Monitoring, Crop Scouting, Yield Monitoring, Variable Rate Application, Others), By Technology (Guidance System, Remote Sensing, Variable Rate Technology), By Solution (Hardware, Software, Service), And By Geography - Forecasts From 2023 To 2028
- Published : Jan 2023
- Report Code : KSI061614230
- Pages : 140
Crop monitoring refers to the continuous, meticulous examination of crops during the growing season. Crop monitoring technology is intended to simplify farming tasks while still ensuring the greatest consumer interaction and a high yield. All of the field's data is accessible on a single screen and may be controlled remotely once the farmer uploads the fields to the network. The crop monitoring technology also offers index values, precipitation rates, and other important data for better decision-making, in addition to weather risk alerts. This technology aids farmers in managing various fields, reducing resource expenses, and making trustworthy decisions. Crop production, which makes up the majority of the agriculture industry, is heavily reliant on unpredictable weather. Therefore, updated information is required for the decision-making process for managing national food security. The availability of such information is crucial for reducing the risks of food insecurity and for planning government actions, particularly in nations with sizable populations who are food insecure.
The crop monitoring technology market is expanding as a result of government initiatives, the merging of technology and agriculture, and the lowering of equipment prices.
The usage of cutting-edge sensors and the growing acceptance of the Internet and AI-based crop monitoring devices are key drivers of the market's expansion. Additionally, the connected environment and the ability for remote monitoring have led to the higher deployment of these technologies. Due to the advancements in the field of detectors and their affordability, the usage of smart detectors is spreading throughout the agriculture industry. Additionally, several initiatives by the government and private sectors to advance and promote agricultural monitoring technologies have caused a boom in this market.
The UK government announced a £24 million financing package for several agricultural technology initiatives in July 2020 with the goal of lowering prices, enhancing food production, and lowering greenhouse gas emissions. The nine initiatives received financing for robotics, artificial intelligence, and big data for various aspects of farming in the UK. Another project that received £2.5 million planned to conduct the largest robotics and autonomous technology demonstration ever seen on a farm. The administration offered £1.7 million to a project in Bath that aimed to provide dairy farmers access to precise technology so they can monitor farm productivity and environmental impact in real-time.
- Globalstar and Argentinian agtech firm Wiagro agreed to a contract in December 2022 under which Globalstar would provide IoT transmitters for use in remotely monitoring crops kept in silos. Wiagro's Smart Silobag solution would use 2,500 ST100 satellite modem transmitters from Globalstar to remotely monitor the status of grain kept in silo bags. It is anticipated that deployment will continue through the end of 2024.
- The University of Twente (UT) and Tamil Nadu Agricultural University (India) entered a long-term commitment in December 2022 under which The ITC Faculty of UT and TNAU will work together. It involves both instruction and research pertaining to building capacities, which is the main objective of ITC, on topics including drone technologies, crop monitoring, remote sensing expertise, and water management. Additionally covered in the Memorandum of Understanding are cooperation studies on crop monitoring, yield estimation in tree fruit crops, risk changes, crop insurance, phenomics, carbon sequestration, drones, and phenomics.
Application-wise, soil monitoring is anticipated to hold a sizable market share for crop monitoring.
Growing government initiatives to promote environmentally friendly agricultural methods, protect soil quality, and enhance farmland productivity have fueled the expansion of soil monitoring in this market. The need for a more thorough understanding of soil has been impacted by changes in weather patterns and the modernization of farming practices. The crop monitoring market for soil has grown as a result of variations in soil characteristics brought on by severe climatic changes. Critical elements like excessive and insufficient use of land resources may lead to more sustainable farming techniques including moisture, salinity, and temperature monitoring.
The market for crop monitoring is anticipated to grow significantly both in North America and the Asia Pacific region as a result of numerous government initiatives to advance technology in agriculture.
Due to the increasing use of contemporary agriculture technologies and the established infrastructure, North America accounts for a sizeable portion of the crop monitoring technology market. Additionally, the presence of significant key players is anticipated to stimulate the development of the crop monitoring technology market in the region during the forecast year. Additionally, a strong administrative framework can help farmers learn how to use and maintain precision farming equipment, which is expected to further fuel the market's expansion in the Asia Pacific region. For instance, the AI4ICPS Foundation (Tech Hub of IIT Kharagpur) is developing AI-based technologies for Precision Agriculture, Predictive and Forecasting models using AI for Crop Health Monitoring and Soil Health Monitoring, according to reports from the Indian government. The same report states that funding is provided to State Governments for Digital Agriculture projects using cutting-edge technologies like Artificial Intelligence and Machine Learning (AI/ML), the Internet of Things (IoT), Block Chain, etc. through the National e-Governance Plan in Agriculture (NeGPA) programme under the Department of Agriculture & Farmers' Welfare.
Key Market Segments
- By Application
- Field Mapping
- Soil Monitoring
- Crop Scouting
- Yield Monitoring
- Variable Rate Application
- By Technology
- Guidance System
- Remote Sensing
- Variable Rate Technology
- By Solution
- By Geography
- North America
- South America
- United Kingdom
- Middle East And Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. CROP MONITORING TECHNOLOGY MARKET, BY APPLICATION
5.2. Field Mapping
5.3. Soil Monitoring
5.4. Crop Scouting
5.5. Yield Monitoring
5.6. Variable Rate Application
6. CROP MONITORING TECHNOLOGY MARKET ANALYSIS, BY TECHNOLOGY
6.2. Guidance System
6.3. Remote Sensing
6.4. Variable Rate Technology
7. CROP MONITORING TECHNOLOGY MARKET ANALYSIS, BY SOLUTION
8. CROP MONITORING TECHNOLOGY MARKET ANALYSIS, BY GEOGRAPHY
8.2. North America
8.3. South America
8.4.3. United Kingdom
8.5. Middle East And Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. AgJunction Inc.
10.2. AGCO Corporation
10.3. Deere & Company
10.5. FlyPard Analytics GmbH.
10.7. Trimble Inc.
10.8. Trimble Inc.
Deere & Company
FlyPard Analytics GmbH.
|Report Name||Published Month||Get Sample PDF|
|Precision Farming Market Size & Share: Industry Report, 2021-2026||Dec 2021|
|Vertical Farming Market Size & Share: Industry Report, 2022-2027||Nov 2022|
|ASEAN Vertical Farming Market Size: Share & Report, 2022 - 2027||Mar 2020|
|Canada Vertical Farming Market Size, Share & Analysis, 2022 - 2027||Mar 2020|
|China Vertical Farming Market Share: Industry Report, 2022 - 2027||Mar 2020|