PUBLISHER: Lucintel | PRODUCT CODE: 1416813
PUBLISHER: Lucintel | PRODUCT CODE: 1416813
The future of the global crop monitoring market looks promising with opportunities in the field mapping, crop scouting and monitoring, soil monitoring, yield mapping and monitoring, variable rate application, and weather tracking and forecasting markets. The global crop monitoring market is expected to reach an estimated $6.7 billion by 2030 with a CAGR of 6.9% from 2024 to 2030. The major drivers for this market are increasing need for precision farming using remote sensing technology, expanding government programs encouraging the use of IoT in the agricultural industry, and growing use of IoT and AI in agricultural monitoring equipment.
A more than 150-page report is developed to help in your business decisions.
The study includes a forecast for the global crop monitoring by offering, technology, farm type, application, and region.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies crop monitoring companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the crop monitoring companies profiled in this report include-
Lucintel forecasts that hardware will remain the largest segment over the forecast period due to growing demand for drones to monitor yield, quick automation of agricultural processes, and rising labor costs.
Within this market, yield mapping and monitoring is expected to witness the highest growth due to increasing usage of precision farming, population growth driving up food consumption, government subsidies in the food and agriculture sectors, along with the rising need for higher yields and more profitability.
Europe will remain the largest region over the forecast period due to increased interest in precision farming among farmers, rising government spending on IoT technologies, and rising demand for homemade food products.
Market Size Estimates: Crop monitoring market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Crop monitoring market size by various segments, such as by offering, technology, farm type, application, and region in terms of value ($B).
Regional Analysis: Crop monitoring market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different offering, technology, farm type, application, and regions for the crop monitoring market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the crop monitoring market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
Q1. What is the crop monitoring market size?
Answer: The global crop monitoring market is expected to reach an estimated $6.7 billion by 2030.
Q2. What is the growth forecast for crop monitoring market?
Answer: The global crop monitoring market is expected to grow with a CAGR of 6.9% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the crop monitoring market?
Answer: The major drivers for this market are increasing need for precision farming using remote sensing technology, expanding government programs encouraging the use of IoT in the agricultural industry and growing use of IoT and AI in agricultural monitoring equipment.
Q4. What are the major segments for crop monitoring market?
Answer: The future of the crop monitoring market looks promising with opportunities in the field mapping, crop scouting and monitoring, soil monitoring, yield mapping and monitoring, variable rate application, and weather tracking and forecasting markets.
Q5. Who are the key crop monitoring market companies?
Answer: Some of the key crop monitoring companies are as follows:
Q6. Which crop monitoring market segment will be the largest in future?
Answer: Lucintel forecasts that hardware will remain the largest segment over the forecast period due to growing demand for drones to monitor yield, quick automation of agricultural processes, and rising labor costs.
Q7. In crop monitoring market, which region is expected to be the largest in next 5 years?
Answer: Europe will remain the largest region over the forecast period due to increased interest in precision farming among farmers, rising government spending on IoT technologies, and rising demand for homemade food products.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.