Global Sensing Devices Market for Farms 2018-2022
About this market
Availability of funding for vendors to drive growth in the market. Several vendors are investing in the development of sensing devices for farms with advanced features. Some of the efforts are supported by angel investor fundings. Technavio’s analysts have predicted that the sensing devices market for farms will register a CAGR of almost 13% by 2022.
Increase in smart farming practices
Smart farming includes the use of devices to map, monitor, and respond to changes in farm. By using sensing devices in farming, farmers can get crop related data combined with data about climatic changes that can affect yield.
Malfunctioning of sensing devices
The use of sensing devices involves various challenges such as device failure, inaccurate data, and increased labor requirement for the use and maintenance of sensing devices on large field.
For the detailed list of factors that will drive and challenge the growth of the sensing devices market for farms during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Campbell Scientific and Delta-T Devices the competitive environment is quite intense. Factors such as the increase in smart farming practices and the availability of funding for vendors, will provide considerable growth opportunities to sensing devices manufactures. Campbell Scientific, Delta-T Devices, Irrometer Company, Stevens Water Monitoring Systems, and The Toro Company are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Sensing Devices Market for Farms 2018-2022
Technavio recognizes the following companies as the key players in the global sensing devices market for farms: Campbell Scientific, Delta-T Devices, Irrometer Company, Stevens Water Monitoring Systems, and The Toro Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the availability of funding for vendors.”
According to the report, one of the major drivers for this market is the increase in smart farming practices.
Further, the report states that one of the major factors hindering the growth of this market is the malfunctioning of sensing devices.
Stevens Water Monitoring Systems
The Toro Company
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