As per research analysis, the global Crop Monitoring Market size was estimated to be worth 2.4 billion dollars in 2021, and it is predicted to be worth 5.8 billion dollars by the end of 2027. During the projection period of 2022 to 2027, the global market is expected to grow at a CAGR of 13.5% percent.
The growing adoption of digitalized solution to increase crop productivity and crop protection from harmful pests, rising awareness of crop monitoring solutions among farmers of developing countries, increasing deployment of IoT and Artificial Intelligence devices for crop monitoring are some of the factors that primarily attributed to the growth of Crop Monitoring Market.
The farmers are now become aware about the various types of crop monitoring solutions and also adopting digitalized solutions in order to monitor soil moisture, pest control, amount of fertilizers and water required etc. that helps farmers to yield good crops. Also, due to technological advancement, the adoption of IoT and Artificial Intelligence is also increasing for crop monitoring. Furthermore, the development miniaturized and improved accuracy of the global navigation satellite system make possible for wide-scale adoption of the precision farming technologies for geo-positioning as well as field mapping. Moreover, the increasing number of technological advanced solutions such as drones, robotics etc for crop monitoring and scouting, field mapping etc in boosting the growth of crop monitoring market
In addition to it, the concern over food security is increasing in order to meet the rising demand of the growing population. The governments of several nations are also increasing their investments towards the digitalization of the agriculture that helps farmers to adopt crop monitoring solution which propels the growth of the crop monitoring market in projected period.
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IMPACT OF COVID-19 ON GLOBAL CROP MONITORING MARKET
The COVID has affected various industries around the world and Crop monitoring market in not an exception. Due to pandemic, the crop monitoring market has impacted for a short period particularly in the initial phase of the COVID because of the strict lockdown imposed by various nations of across the globe. The lockdown and other protocols has led to partial and complete lockdown of the industries that has caused disruption in manufacturing as well as supply chains. Global factories have also suffered a lot to manufacture or assimilate the crop monitoring devices due to fewer work forces. COVID-19 also delayed installation of new projects that led to decline the demand of crop monitoring solutions. With the initial of 202, industrial activities have started recovering and the demand of the automated crop monitoring solutions is presently increasing in order to overcome labor crisis.
SEGMENTATION ANALYSIS
The global crop monitoring market segmentation includes:
BY OFFERING:
Hardware
Software
Services
Based on offerings, the hardware segment is estimated to most rapidly increasing segment of this market. The increasing adoption of hardware devices such as soil moisture sensor, climate sensors, and yield monitor sensors in order to increase agricultural productivity along with less operational cost.
BY TECHNOLOGY:
Sensing & Imagery
VRT
Automation & Robotics
Based on Technology, Sensing and Imagery segment is dominating in the crop monitoring market due to huge adoption of remote sensing technology by the farmers in order to monitor their farms remotely. These sensing and imagery devices provides precise picture of the farm and also give indication to the farmers about the wellbeing of the crops. The automation & robotics segment is expected to dominate the market in the projected period in order to overcome labor crisis challenge which is faced by several nations across the globe.
BY APPLICATION:
Field Mapping
Soil Monitoring
Crop Scouting
Based on Application, the crop scouting and monitoring segment is estimated to boost the market growth in the projected period due to increasing need to detect pests and other diseases as early as possible for implementation of an effective treatment given to the crop at the right time. Furthermore, the farmers are likely to prefer precision farming with the help of satellite imagery, drones, GPS and other remote sensing technologies. These advanced technologies help farmers to yield goods crops.
BY FARM SIZE:
Small
Medium
Large
Based on farm Size, the Medium size farms are expected to hold the significant share of crop monitoring market during the forecast period due to large number of medium size agricultural farm across the globe as well as the significant contribution of earnings by the implementation of various technologies such as Remote Sensing, Automation & Robotics and VRT.
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REGIONAL ANALYSIS
Because of the high rate of dependency of agriculture sector North America region accounted to the significant share of crop monitoring market. The government of various countries in this region has focused on increasing deployment of large number of precision farming solutions in order to monitor and yield good quality of crops. In this region, United States has the largest market as U.S. has presence of key agencies such as NAS, NOAA and also U.S department of agriculture are providing supporting for the empowering agriculture sector by providing advanced solutions in order to increase farm profitability, reduce the use of chemicals that pollutes environment etc. Additionally, farmers of United States are well established and has adopted digitalized crop monitoring solution and also the demand of the automated and robotics crop monitoring solutions has high demand on this country. Owing to the above reasons, North America propels the growth of crop monitoring market in near future.
Owing to the increasing government investment in agriculture and support to the farmers for adoption of digitalized solutions in agriculture in Asia-Pacific region, is expected to showcase the fastest growth of crop monitoring market. Moreover, the adoption of advanced technologies is also increasing in this region such as use of Internet of Things in agriculture for monitoring weather conditions, adoption of drones for soil mapping and scouting etc. Also, countries like China, India and other Southeast Asian are investing significant amount in advancing agriculture.
The increasing adoption of advanced technologies such as AI, IoT and data analytics in agriculture and favorable government support and agricultural policies in Europe is driving up the demand of the crop monitoring solutions that helps in expanding the growth of the market
LATEST INDUSTRY DEVELOPMENTS
Topcon Agriculture has announced the launch of new manual guidance and auto steering receivers named “AGM-1” and ‘AGS-2”. The AGM-1” and ‘AGS-2” are new Topnet Live cellular, satellite and bridging connection service that include Realpoint, Starpoint and Skybridge. This technology is used for machine operations and all associated tasks include soil preparation, seeding, crop care and harvesting.
“CropX Inc.” (a leading global soil sensing and agricultural analytics company) has announced its acquisition of Nebraska-based “Crop Metrics” (a prominent provider of cloud-based precision irrigation tools. This acquisition would allow partners and customers to access to an unrivaled combination in soil-data, advanced farm management analytics and decision support tools.
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