Crop Monitoring Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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What Growth Opportunities are Expected to Drive the Crop Monitoring Market’s CAGR Through 2034?
The market size of crop monitoring has seen accelerated expansion in the past few years. Its growth is projected to rise from $3.3 billion in 2024 to $3.83 billion in 2025, showcasing a compound annual growth rate (CAGR) of 16.1%. The historic growth can be credited to a surge in the necessity for food security, environmental considerations, government programs, data analytics, and artificial intelligence.
Swift expansion is projected in the crop monitoring market size over the upcoming years, with predictions valuing it at $7 billion in 2029, thanks to a compound annual growth rate (CAGR) of 16.3%. This significant growth in this forecast period can be linked to the adoption of precision agriculture, efforts in climate change mitigation, and the increasing demand for organic farming methods. Key trends to watch during this projection period include market expansion, integration with IoT and big data, numerous partnerships and collaborations, the deployment of AI and machine learning, and farm-to-table traceability.
What Strategic Factors Are Influencing the Accelerated Growth of the crop monitoring Market?
The growth of the crop monitoring market is predicted to be propelled by the rising use of Internet of Things (IoT) devices. These devices, which are physical objects embedded with sensors, software, and connectivity capabilities, gather and exchange data over the internet. IoT devices play a transformative role in crop monitoring, leveraging technology to improve farming practices and crop management. This enables farmers to make informed decisions, utilize resources effectively, and boost crop yield. As an example, the CRO Forum, a high-level discussion group for risk managers based in the Netherlands, published an IoT risk from an insurance standpoint in April 2022. It forecasts a surge to 24.1 billion IoT devices by 2030. Moreover, Exploding Topics, a US-based digital platform offering insights into emerging and trending topics, predicted in March 2023 that there will be 25.4 billion IoT devices by 2030. Hence, the rising use of IoT devices is fueling the expansion of the crop monitoring market.
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What Are the Leading Industry Players Dominating the Crop Monitoring Market?
Major companies operating in the crop monitoring market include:
• Topcon Corporation_x000D_
• Trimble Inc._x000D_
• The Climate Corporation (a subsidiary of Bayer AG)_x000D_
• Yara International ASA_x000D_
• CropX Technologies Inc._x000D_
What Are the Latest Trends Leading to Disruption in the Crop Monitoring Market?
Leading businesses in the crop monitoring sector are developing groundbreaking technologies like robots to offer dependable services to clients. The self-operating crop surveillance robot is engineered to deliver instantaneous data from the field, functioning plant-by-plant to harmonize output and efficiency. For example, in May 2022, Solinftec, an ag-tech company from Brazil, introduced Solix. The Solix bot is solar-powered and features lithium-ion batteries for storing energy. The onboard camera and sensors in the Solix bot, combined with AI technology, facilitates plant health tracking, insect damage identification, and change detection in the field.
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What Are the Core Segments of the Crop Monitoring Market, and How Do They Contribute to Growth?
The crop monitoring market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Farm Type: Small Sized Farms, Medium Sized Farms, Large Sized Farms
3) By Technology: Variable Rate Technology, Sensing And Imagery, Automation And Robotics
4) By Application: Field Mapping, Crop Scouting And Monitoring, Soil Monitoring, Yield Mapping And Monitoring, Variable Rate Application, Weather Tracking And Forecasting, Other Applications
Subsegments:
1) By Hardware: Sensors, Drones, IoT Devices, Imaging Systems
2) By Software: Data Analytics Software, Farm Management Software, Decision Support Systems, Mobile Applications
3) By Services: Consulting Services, Data Management Services, Training And Support Services, Customization Services
Which Regions Are Significant to the Growth of the Crop Monitoring Market?
North America was the largest region in the crop monitoring market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crop monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Are the Core Features That Define the Crop Monitoring Market?
Crop monitoring refers to the routine and thorough examination of crops that aids in the management of various pests, weeds, or illnesses in crops. It plays a significant part in the management of many pests, weeds, and illnesses in crops. This gives you knowledge about the crop’s current situation, allowing you to project into the future and determine what the crop’s most likely next problem will be.
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