Global Smart Crop Monitoring Market
Description
MARKET SCOPE:
The global smart crop monitoring market is projected to grow significantly, registering a CAGR of 17.2% during the forecast period (2024 – 2032).
Smart crop monitoring involves the application of advanced technologies, including satellite imagery, drones, sensors, and data analytics, to precisely and efficiently monitor and manage agricultural crops. This encompasses real-time data collection, analysis, and interpretation to optimize various farming aspects, such as irrigation, pest control, fertilizer application, and overall crop health. Monitoring crop health empowers farmers to make informed decisions, boost productivity, conserve resources, and embrace sustainable agricultural practices, resulting in enhanced yields and reduced environmental impact. According to the study report of USDA, about 1 billion pounds of conventional pesticides are annually employed in the U.S. to combat weeds, insects, and other pests. Despite the substantial use of pesticides and herbicides, agricultural production has experienced only marginal growth. A significant portion of these chemicals is wasted due to uniform spraying methods. The implementation of smart crop scouting and smart spraying presents significant potential for input optimization and improved crop yields. Precise application of inputs such as pesticides and herbicides allow farmers to use them efficiently and effectively, reducing waste and potentially increasing crop yields.
MARKET OVERVIEW:
Driver: The increase in usage of AI and IoT-based crop monitoring devices is propelling the industry expansion.
The growth of the crop monitoring market is significantly propelled by the emergence of IoT and AI-based devices. The connected environment, coupled with remote monitoring capabilities, has led to increased adoption of these devices. The utilization of smart sensors is becoming prevalent in the agriculture sector, driven by advancements in sensor technology and their increased affordability. Companies like Prospera Technologies (Israel), Blue River Technology (US), Bosch (Germany), CropIn Technology (India), and Sigfox (France) have made a substantial impact on the market by providing advanced technologies such as AI and IoT for enhanced crop monitoring and management. The market is predominantly fueled by the escalating demand for food driven by the expanding global population. The utilization of Internet of Things (IoT) and Artificial Intelligence technology in the agriculture sector is a key factor propelling the crop monitoring market. The increasing prevalence of smartphones among farmers, coupled with wider internet accessibility, is contributing to the heightened adoption of crop monitoring tools. There is an anticipated surge in the demand for IoT-based technology in the agriculture sector in the coming years as farmers express a growing interest in precision farming to reduce operational costs and enhance agricultural productivity.
Opportunities: Increasing concentration on sustainability is expected to provide lucrative opportunity for the market growth during the forecast period.
The increasing global emphasis on sustainability creates a significant opportunity for the smart crop monitoring market and its solution providers. With growing concerns about environmental impact and the need for resource conservation, there is a rising demand for precision agriculture technologies that optimize resource usage and minimize ecological footprint. Equipped with advanced sensors, IoT devices, and data analytics, smart crop monitoring allows farmers to make informed, data-driven decisions. Through precise monitoring of crops, water usage, and pesticide application, farmers can minimize wastage, conserve resources, and reduce the overall environmental impact of their farming practices. For providers of smart crop monitoring solutions, this trend translates into a expanding market for their technologies and services. Farmers and agricultural enterprises are actively seeking sustainable practices and technologies that align with environmental regulations and consumer preferences for eco-friendly products. Smart crop monitoring solutions not only improve crop yields and quality but also promote sustainable farming practices. Providers offering innovative, eco-conscious solutions tailored to diverse agricultural needs have the opportunity to capitalize on this trend. Emphasizing the environmental benefits and long-term sustainability of their offerings can attract environmentally conscious farmers, fostering the adoption of smart crop monitoring technologies in the agriculture sector.
COVID IMPACT:
The major players in the global smart crop monitoring market, including Topcon Corporation, Trimble, The Climate Corporation, Yara International, and CropX Technologies, are anticipated to experience a short-term impact from COVID-19 due to disruptions in the supply chain, leading to shortages of devices and equipment. However, advancements in remote sensing technology have enhanced farm operation management and are expected to be less affected by the pandemic. There is a likelihood of significant demand for remote sensing and imagery in the post-COVID-19 world. Companies on the equipment side anticipate sluggish growth in the first three quarters of FY 20-21, with potential growth in the final quarter. Leading original equipment manufacturers (OEMs) in agriculture, such as John Deere, AGCO, and CNH, have adjusted their sales guidance for the first half of FY 20-21, reducing it by 10%-20% due to disruptions in the supply chain. However, the demand for connected agriculture and telematics has shown promising growth even during the pandemic. COVID-19 is expected to accelerate the adoption of IoT-based devices in agriculture farms worldwide to optimize farm operations with reduced labor requirements in the field. The number of connected agricultural devices is anticipated to experience promising growth in the medium to long term. The crop monitoring market is projected to recover from the last quarter of 2020 onwards, with the demand for remote sensing and imagery witnessing significant growth.
SEGMENTATION ANALYSIS:
The crop protection segment is anticipated to grow significantly during the forecast period.
Crop health management services involve adjusting the quantity of crop protection chemicals and fertilizers applied to a specific area to optimize results, leading to significant cost savings and improved yields. According to a study by the UN Food and Agriculture Organization, farmers experience annual losses of approximately 30% to 40% of their produce due to crop diseases and pests. Hence, safeguarding crops from insects, rodents, birds, bacteria, and diseases is crucial for enhancing yield, crop quality, and pricing, while simultaneously reducing wastage. An essential component of soil monitoring involves measuring soil properties by detecting various frequencies of light reflectance, such as mid-infrared, near-infrared, and polarized light spectrums. The soil monitoring concept has gained traction with the availability and introduction of a diverse range of soil monitoring systems, including sensors tailored to meet crop requirements. For instance, Sensoterra, a company specializing in sensor development, is poised to unveil new wireless soil moisture sensors in potential regions like North America, Europe, and Asia-Pacific.
REGIONAL ANALYSIS:
The North American region is set to witness significant growth during the forecast period.
In the region, the market for digital and smart agricultural practices is consistently progressing. The significant growth can be mainly attributed to the increased adoption of technology-driven procedures, a focus on alternative farming methods, and the potential integration of high-investment equipment in the agricultural sector. The implementation of smart crop monitoring has enhanced the production process, presenting an ideal solution to address the region's food demand. North America is anticipated to lead the global market due to technological advancements. Furthermore, numerous prominent providers of smart crop monitoring, including Robert Bosch GmbH, Microsoft Corporation, and IBM Corporation, are operational in the region. Consequently, numerous major manufacturers of smart crop monitoring equipment and systems are developing advanced solutions to establish a strong foothold in this region.
COMPETITIVE ANALYSIS
The global smart crop monitoring market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
Pessl Instruments GmbH
Microsoft Corporation
Robert Bosch GmbH
Prospera Technologies
CLAAS Group
AGCO Corporation
Raven Industries Inc.
Small Robot Company
Trimble Inc.
Alibaba Group Holding Limited
IBM Corporation
SCOPE OF THE REPORT
By Type
It provides a technological development map over time to understand the industry’s growth rate and indicates how the smart crop monitoring market is evolving.
The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which smart crop monitoring submarket will be the main driver of the overall market from 2024 to 2032.
It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.
It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.
The global smart crop monitoring market is projected to grow significantly, registering a CAGR of 17.2% during the forecast period (2024 – 2032).
Smart crop monitoring involves the application of advanced technologies, including satellite imagery, drones, sensors, and data analytics, to precisely and efficiently monitor and manage agricultural crops. This encompasses real-time data collection, analysis, and interpretation to optimize various farming aspects, such as irrigation, pest control, fertilizer application, and overall crop health. Monitoring crop health empowers farmers to make informed decisions, boost productivity, conserve resources, and embrace sustainable agricultural practices, resulting in enhanced yields and reduced environmental impact. According to the study report of USDA, about 1 billion pounds of conventional pesticides are annually employed in the U.S. to combat weeds, insects, and other pests. Despite the substantial use of pesticides and herbicides, agricultural production has experienced only marginal growth. A significant portion of these chemicals is wasted due to uniform spraying methods. The implementation of smart crop scouting and smart spraying presents significant potential for input optimization and improved crop yields. Precise application of inputs such as pesticides and herbicides allow farmers to use them efficiently and effectively, reducing waste and potentially increasing crop yields.
MARKET OVERVIEW:
Driver: The increase in usage of AI and IoT-based crop monitoring devices is propelling the industry expansion.
The growth of the crop monitoring market is significantly propelled by the emergence of IoT and AI-based devices. The connected environment, coupled with remote monitoring capabilities, has led to increased adoption of these devices. The utilization of smart sensors is becoming prevalent in the agriculture sector, driven by advancements in sensor technology and their increased affordability. Companies like Prospera Technologies (Israel), Blue River Technology (US), Bosch (Germany), CropIn Technology (India), and Sigfox (France) have made a substantial impact on the market by providing advanced technologies such as AI and IoT for enhanced crop monitoring and management. The market is predominantly fueled by the escalating demand for food driven by the expanding global population. The utilization of Internet of Things (IoT) and Artificial Intelligence technology in the agriculture sector is a key factor propelling the crop monitoring market. The increasing prevalence of smartphones among farmers, coupled with wider internet accessibility, is contributing to the heightened adoption of crop monitoring tools. There is an anticipated surge in the demand for IoT-based technology in the agriculture sector in the coming years as farmers express a growing interest in precision farming to reduce operational costs and enhance agricultural productivity.
Opportunities: Increasing concentration on sustainability is expected to provide lucrative opportunity for the market growth during the forecast period.
The increasing global emphasis on sustainability creates a significant opportunity for the smart crop monitoring market and its solution providers. With growing concerns about environmental impact and the need for resource conservation, there is a rising demand for precision agriculture technologies that optimize resource usage and minimize ecological footprint. Equipped with advanced sensors, IoT devices, and data analytics, smart crop monitoring allows farmers to make informed, data-driven decisions. Through precise monitoring of crops, water usage, and pesticide application, farmers can minimize wastage, conserve resources, and reduce the overall environmental impact of their farming practices. For providers of smart crop monitoring solutions, this trend translates into a expanding market for their technologies and services. Farmers and agricultural enterprises are actively seeking sustainable practices and technologies that align with environmental regulations and consumer preferences for eco-friendly products. Smart crop monitoring solutions not only improve crop yields and quality but also promote sustainable farming practices. Providers offering innovative, eco-conscious solutions tailored to diverse agricultural needs have the opportunity to capitalize on this trend. Emphasizing the environmental benefits and long-term sustainability of their offerings can attract environmentally conscious farmers, fostering the adoption of smart crop monitoring technologies in the agriculture sector.
COVID IMPACT:
The major players in the global smart crop monitoring market, including Topcon Corporation, Trimble, The Climate Corporation, Yara International, and CropX Technologies, are anticipated to experience a short-term impact from COVID-19 due to disruptions in the supply chain, leading to shortages of devices and equipment. However, advancements in remote sensing technology have enhanced farm operation management and are expected to be less affected by the pandemic. There is a likelihood of significant demand for remote sensing and imagery in the post-COVID-19 world. Companies on the equipment side anticipate sluggish growth in the first three quarters of FY 20-21, with potential growth in the final quarter. Leading original equipment manufacturers (OEMs) in agriculture, such as John Deere, AGCO, and CNH, have adjusted their sales guidance for the first half of FY 20-21, reducing it by 10%-20% due to disruptions in the supply chain. However, the demand for connected agriculture and telematics has shown promising growth even during the pandemic. COVID-19 is expected to accelerate the adoption of IoT-based devices in agriculture farms worldwide to optimize farm operations with reduced labor requirements in the field. The number of connected agricultural devices is anticipated to experience promising growth in the medium to long term. The crop monitoring market is projected to recover from the last quarter of 2020 onwards, with the demand for remote sensing and imagery witnessing significant growth.
SEGMENTATION ANALYSIS:
The crop protection segment is anticipated to grow significantly during the forecast period.
Crop health management services involve adjusting the quantity of crop protection chemicals and fertilizers applied to a specific area to optimize results, leading to significant cost savings and improved yields. According to a study by the UN Food and Agriculture Organization, farmers experience annual losses of approximately 30% to 40% of their produce due to crop diseases and pests. Hence, safeguarding crops from insects, rodents, birds, bacteria, and diseases is crucial for enhancing yield, crop quality, and pricing, while simultaneously reducing wastage. An essential component of soil monitoring involves measuring soil properties by detecting various frequencies of light reflectance, such as mid-infrared, near-infrared, and polarized light spectrums. The soil monitoring concept has gained traction with the availability and introduction of a diverse range of soil monitoring systems, including sensors tailored to meet crop requirements. For instance, Sensoterra, a company specializing in sensor development, is poised to unveil new wireless soil moisture sensors in potential regions like North America, Europe, and Asia-Pacific.
REGIONAL ANALYSIS:
The North American region is set to witness significant growth during the forecast period.
In the region, the market for digital and smart agricultural practices is consistently progressing. The significant growth can be mainly attributed to the increased adoption of technology-driven procedures, a focus on alternative farming methods, and the potential integration of high-investment equipment in the agricultural sector. The implementation of smart crop monitoring has enhanced the production process, presenting an ideal solution to address the region's food demand. North America is anticipated to lead the global market due to technological advancements. Furthermore, numerous prominent providers of smart crop monitoring, including Robert Bosch GmbH, Microsoft Corporation, and IBM Corporation, are operational in the region. Consequently, numerous major manufacturers of smart crop monitoring equipment and systems are developing advanced solutions to establish a strong foothold in this region.
COMPETITIVE ANALYSIS
The global smart crop monitoring market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
Pessl Instruments GmbH
- In May 2020, Pessl Instruments GmbH has disclosed the integration of its Internet of Things (IoT) and agro-meteorological data management platform, known as 'Fieldclimate,' with Microsoft Azure FarmBeats. This integration is designed to facilitate seamless and profitable analysis of agricultural data, contributing to enhanced decision-making in farming.
- In April 2019, The Climate Corporation collaborated with Airbus S.A.S. to provide enhanced and up-to-date satellite imagery solutions to farmers through the patented digital agriculture platform known as 'Climate FieldView’.
Microsoft Corporation
Robert Bosch GmbH
Prospera Technologies
CLAAS Group
AGCO Corporation
Raven Industries Inc.
Small Robot Company
Trimble Inc.
Alibaba Group Holding Limited
IBM Corporation
SCOPE OF THE REPORT
By Type
- Hardware
- Software
- Services
- Sensing and Imagery
- Automation and Robotics
- Guidance Technology
- Variable-Rate Technology (VRT))
- Weather Forecasting
- Soil Monitoring
- Yield Monitoring
- Crop Protection
- Others
- North America (the United States & Canada)
- Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
- Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, and Latin America)
It provides a technological development map over time to understand the industry’s growth rate and indicates how the smart crop monitoring market is evolving.
The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which smart crop monitoring submarket will be the main driver of the overall market from 2024 to 2032.
It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.
It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.
Table of Contents
168 Pages
- 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Regional Analysis
- 1.3. Segment Analysis
- 2. Overview And Scope
- 2.1. Market Vision
- 2.1.1. Market Definition
- 2.2. Market Segmentation
- 3. Global Smart Crop Monitoring Market Overview By Region: 2019 Vs 2023 Vs 2032
- 3.1. Global Smart Crop Monitoring Market Size By Regions (2019-2023) (Usd Million)
- 3.1.1. North America Smart Crop Monitoring Market Size By Country (2019-2023) (Usd Million)
- 3.1.2. Europe Smart Crop Monitoring Market Size By Country (2019-2023) (Usd Million)
- 3.1.3. Asia Pacific America Smart Crop Monitoring Market Size By Country (2019-2023) (Usd Million)
- 3.1.4. Rest Of The World Smart Crop Monitoring Market Size By Country (2019-2023) (Usd Million)
- 3.2. Global Smart Crop Monitoring Market Size By Regions (2024-2032) (Usd Million)
- 3.2.1. North America Smart Crop Monitoring Market Size By Country (2024-2032) (Usd Million)
- 3.2.2. Europe Smart Crop Monitoring Market Size By Country (2024-2032) (Usd Million)
- 3.2.3. Asia Pacific Smart Crop Monitoring Market Size By Country (2024-2032) (Usd Million)
- 3.2.4. Rest Of The World Smart Crop Monitoring Market Size By Country (2024-2032) (Usd Million)
- 4. Global Smart Crop Monitoring Market Dynamics
- 4.1. Market Overview
- 4.1.1. Market Drivers
- 4.1.2. Market Restraints/ Challenges Analysis
- 4.1.3. Market Opportunities
- 4.2. Pestle Analysis
- 4.3. Porter’s Five Forces Model
- 4.3.1. Bargaining Power Of Suppliers
- 4.3.2. Bargaining Power Of Buyers
- 4.3.3. The Threat Of New Entrants
- 4.3.4. Threat Of Substitutes
- 4.3.5. Intensity Of Rivalry
- 4.4. Value Chain Analysis/Supply Chain Analysis
- 4.5. Covid-19 Impact Analysis On Global Smart Crop Monitoring Market
- ** In – Depth Qualitative Analysis Will Be Provided In The Final Report Subject To Market
- 5. Global Smart Crop Monitoring Market, By Type
- 5.1. Overview
- 5.2. Global Smart Crop Monitoring Market Size By Type
- 5.3. Key Findings For Smart Crop Monitoring Market - By Type
- 5.3.1. Local/Web-based
- 5.3.2. Cloud-based
- 6. Global Smart Crop Monitoring Market, By Technology
- 6.1. Overview
- 6.2. Key Findings For Smart Crop Monitoring Market - By Technology
- 6.2.1. Managed Service
- 6.2.2. Professional Service
- 6.2.3. Connectivity Service
- 7. Global Smart Crop Monitoring Market, By Application
- 7.1. Overview
- 7.2. Key Findings For Smart Crop Monitoring Market - By Application
- 7.2.1. Precision Farming
- 7.2.2. Livestock Monitoring
- 7.2.3. Smart Greenhouse
- 7.2.4. Aquaculture
- 7.2.5. Other Applications
- 8. Global Smart Crop Monitoring Market, By Region
- 8.1. Overview
- 8.2. Key Findings For Smart Crop Monitoring Market- By Region
- 8.3. Global Smart Crop Monitoring Market, By Type
- 8.4. Global Smart Crop Monitoring Market, By Technology
- 8.5. Global Smart Crop Monitoring Market, By Application
- 9. Global Smart Crop Monitoring Market- North America
- 9.1. Overview
- 9.2. North America Smart Crop Monitoring Market Size (2019 - 2032) (Usd Million)
- 9.3. North America Smart Crop Monitoring Market, By Type
- 9.4. North America Smart Crop Monitoring Market, By Technology
- 9.5. North America Smart Crop Monitoring Market, By Application
- 9.6. North America Smart Crop Monitoring Market Size By Countries
- 9.6.1. United States
- 9.6.2. Canada
- 10. Global Smart Crop Monitoring Market- Europe
- 10.1. Overview
- 10.2. Europe Smart Crop Monitoring Market Size (2019 - 2032) (Usd Million)
- 10.3. Europe Smart Crop Monitoring Market, By Type
- 10.4. Europe Smart Crop Monitoring Market, By Technology
- 10.5. Europe Smart Crop Monitoring Market, By Application
- 10.6. Europe Smart Crop Monitoring Market Size By Countries
- 10.6.1. Germany
- 10.6.2. Uk
- 10.6.3. France
- 10.6.4. Spain
- 10.6.5. Italy
- 10.6.6. Rest Of Europe
- 11. Global Smart Crop Monitoring Market - Asia Pacific
- 11.1. Overview
- 11.2. Asia Pacific Smart Crop Monitoring Market Size (2019 - 2032) (Usd Million)
- 11.3. Asia Pacific Smart Crop Monitoring Market, By Type
- 11.4. Asia Pacific Smart Crop Monitoring Market, By Technology
- 11.5. Asia Pacific Smart Crop Monitoring Market, By Application
- 11.6. Asia Pacific Smart Crop Monitoring Market Size By Countries
- 11.6.1. China
- 11.6.2. Japan
- 11.6.3. India
- 11.6.4. Rest Of Asia Pacific
- 12. Global Smart Crop Monitoring Market- Rest Of World
- 12.1. Overview
- 12.2. Rest Of World Smart Crop Monitoring Market Size (2019 - 2032) (Usd Million)
- 12.3. Rest Of World Smart Crop Monitoring Market, By Type
- 12.4. Rest Of World Smart Crop Monitoring Market, By Technology
- 12.5. Rest Of World Smart Crop Monitoring Market, By Application
- 12.6. Rest Of World Smart Crop Monitoring Market Size By Regions
- 12.6.1. Middle East & Africa
- 12.6.2. Latin America
- 13. Global Smart Crop Monitoring Market- Competitive Landscape
- 13.1. Key Strategies Adopted By The Leading Players
- 13.2. Recent Developments
- 13.2.1. Investments & Expansions
- 13.2.2. New End-user Launches
- 13.2.3. Mergers & Acquisitions
- 13.2.4. Agreements, Joint Ventures, And Partnerships
- 14. Global Smart Crop Monitoring Market- Company Profiles
- 14.1. Pessl Instruments Gmbh
- 14.1.1. Company Overview
- 14.1.2. Financial Overview
- 14.1.3. Product Offered
- 14.1.4. Key Developments
- 14.2. Climate Llc
- 14.3. Deere & Company
- 14.4. Microsoft Corporation
- 14.5. Robert Bosch Gmbh
- 14.6. Prospera Technologies
- 14.7. Claas Group
- 14.8. Agco Corporation
- 14.9. Raven Industries Inc.
- 14.10. Small Robot Company
- 14.11. Trimble Inc.
- 14.12. Alibaba Group Holding Limited
- 14.13. Ibm Corporation
- 15. Our Research Methodology
- 15.1. Data Triangulation
- 15.2. Data Sources
- 15.2.1. Secondary Sources
- 15.2.2. Primary Sources
- 15.3. Assumptions/ Limitations For The Study
- 15.4. Research & Forecasting Methodology
- 16. Appendix
- 16.1. Disclaimer
- 16.2. Contact Us
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