Yield Monitoring Software Market Size, Share, Opportunities, And Trends By Application (Variety Tracking, Moisture Tracking, Load Tracking, Others), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061615208
- Pages : 135
Yield monitoring software is a specialized tool designed to assist farmers and cultivators in improving their crop yields and lower agricultural waste. It collects data on various aspects of farming operations, such as soil quality, weather patterns, and crop performance to provide valuable insights and recommendations for optimizing farming practices such as planting strategies, fertilizer usage, and irrigation techniques. The major applications of the yield software market include variety tracking, moisture tracking, and load tracking. In addition, the features of agricultural yield monitoring software vary depending on the specific software package but features such as crop mapping, weather monitoring, soil analysis, yield analysis, and data visualization are commonly found across the majority of the software platforms. The yield analysis feature provides detailed information about crop yields, including historical data and predictions for future yields. The increasing demand for food fueled the growth of the population of several countries, favorable initiatives by certain governments, advancements in agriculture technology, and the rising concerns about the environmental impact of farming practices are significant factors expected to propel the growth of the yield monitoring software over the forecast period.
- Increasing developments in agricultural technology
The adoption of AI, ML, and other technological developments such as visual analytic tools and real-time data from sensors are contributing to increase efficiency and accuracy of yield monitoring software solutions which is resulting in high consumption of agricultural yield monitoring and mapping software. For instance, in August 2022, OneSoil, an agricultural development company in Switzerland collaborated with Mapbox Company, an innovative location-tracking company to introduce a new yield monitoring and data visualization tool, OneSoil Map that integrates exclusive AI with the visual input from satellites to provide real-time data and insightful information about the condition of crops and yield in fields worldwide. In addition, several existing yield monitoring software launched by various start-up companies such as Space AG, Motorleaf, Hectre, and Sencrop are stimulating the development of the yield monitoring software market. For instance, Motorleaf, an agricultural tech start-up company in Canada provides AI-powered software, Carbonbook to monitor harmful pests and weather conditions. In addition, Space AG provides precision farming solutions derived from yield mapping technology based on computer vision and ML automation technology that provide foliage and cartographical data analysis for optimization in decision-making processes.
- Rising prevalence of crop and yield loss
The prevalence of yield loss among major agricultural economies driven by pest infections, unpredictable weather patterns, and unmonitored soil quality and moisture retention properties is generating a high demand for effective yield monitoring software. For instance, a report published by the Ministry of Agriculture & Farmers’ Welfare of the Government of India revealed that the amount of yield loss in Indian croplands as a result of weeds amounted to an average of 37% and has also been recorded at 90% in certain circumstances. The consumption of yield monitoring software warns farmers about the presence of weeds and pests which could help prevent such losses to a large extent. Further, the American Farm Bureau Federation estimated that approximately a yield worth US$21.4 billion was lost due to unforeseen weather conditions. Therefore, the growing adoption of weather monitoring in yield monitoring software based on satellite input and insightful weather data analysis and the growing rates of yield loss resulting from factors that can be controlled to an extent are expected to increase the demand for yield monitoring software over the forecast period.
The limited data and lack of awareness of yield monitoring software could restrict the growth of the market.
The effectiveness of yield monitoring software in providing valuable insights is dependent on the quality and quantity of data available. Therefore, farms that lack the necessary data collection infrastructure may not be able to fully leverage the benefits of the software. Further, the analysis provided by such software is based on historical data which could be futile in situations of the emergence of new types of pests and other harmful organisms. In addition, the lack of awareness and training among the majority of the farmers about the presence, benefits, and effective utilization of yield monitoring software is restricting its growth across several developing economies. Hence, training and education programs must be implemented by government and international organizations to ensure that farmers have the technical knowledge to utilize such software to its maximum capacity.
- In March 2023, Braiin Limited, an Australian company providing yield analysis and other agricultural services to farmers entered into a business combination deal with Northern Revival Acquisition Corporation, a company specifically incorporate to implement various company transactions such as mergers, acquisitions, and many others. This deal was executed at US$215 million to enable the transition of Braiin Limited into a public company.
- In August 2022, KisanHub, an agricultural technology company in the US introduced new additions of different features to its yield and crop monitoring software which will assist in marketing the load and yield extracted by farmers.
North America holds a substantial share of the yield monitoring software market and is expected to grow in the forecast period.
The abundance of IT infrastructure and the constant evolution in agricultural technology driven by the rising awareness of yield monitoring software in the region provides a market opportunity for the growth of the yield monitoring software market in North America. In addition, the increasing adoption of AI and other advanced data analysis tools promotes the consumption and effectiveness of yield monitoring applications to ensure enhanced productivity in crop yields. Hence, the yield monitoring software market in North America is anticipated to significantly expand over the forecast period.
Key Market Segments:
- By Application
- Variety Tracking
- Moisture Tracking
- Load Tracking
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
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. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. YIELD MONITORING SOFTWARE MARKET, BY APPLICATION
5.2. Variety Tracking
5.3. Moisture Tracking
5.4. Load Tracking
6. YIELD MONITORING SOFTWARE MARKET, BY GEOGRAPHY
6.2. North America
6.3. South America
6.4.3. United Kingdom
6.5. Middle East And Africa
6.5.1. Saudi Arabia
6.6. Asia Pacific
6.6.4. South Korea
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. Ag Leader Technology
8.2. Green Growth
8.4. FlyPard Analytics GmbH.
8.6. Pessl Instruments
8.7. Trimble Inc.
8.9. Integreater® Software
Ag Leader Technology
FlyPard Analytics GmbH.
|Report Name||Published Month||Get Sample PDF|
|Online Survey Software Market Size: Industry Report, 2023 - 2028||Mar 2023|
|Machine Vision Software Market Size & Share: Report, 2022 - 2027||Dec 2022|
|Anti-Plagiarism Software Market Size: Industry Report, 2023-2028||Apr 2023|
|Contact Center Software Market Size: Report, 2023 - 2028||Apr 2023|
|E-Commerce Analytics Software Market Size: Report, 2023 – 2028||May 2023|