Yield Monitor Market Forecasts to 2030 - Global Analysis By Type (GPS Receiver,Mass Flow Sensor, Moisture Sensor, Other Types), Component (Hardware, Software, Services, Other Components), Technology, Application, End User and by Geography

According to Stratistics MRC, the Global Yield Monitor Market is accounted for $2.96 billion in 2023 and is expected to reach $5.62 billion by 2030 growing at a CAGR of 9.6% during the forecast period. A tool used in agriculture to measure crop yields as they are being harvested is termed as yield monitoring. The system usually consists of sensors and software to collect data on crop yield, moisture content, or other factors that affect crop performance. Software gathers and analyzes this data in order to provide farmers with crucial information regarding their crop performance and production. . Yield monitoring systems are frequently utilized in modern agriculture. Farmers can use this information to make data-driven decisions that will enhance productivity or profitability

Market Dynamics:

Driver:

Increased demand for food and cost-effective technology

The market's advanced technical features and low processing costs, growth is projected. The market is expanded through the use of cutting-edge technology that increases land fertility and profitability, maximizes output, lowers agricultural costs, and supports sustainable agriculture. Fast-rising food demand is putting pressure on increased agricultural output, but it may be addressed with innovative and effective yield monitoring tools. This is a significant factor in the market's growth.

Restraint:

Lack of knowledge and information

It is anticipated that a lack of information about modern farming may limit market expansion. Many farmers might not be completely aware of the advantages of employing yield monitors or might not have received the appropriate training in how to interpret the data produced by these systems. Adoption may be hampered by this ignorance and lack of education. A lot of data is produced by yield monitors, and this data needs to be handled, analyzed, and connected with other farm management systems. Farmers may find it challenging to efficiently manage and utilize this data.

Opportunity:

Increase in productivity and enhancing profits

One of the most innovative methods of managing agriculture is yield monitoring, which is gaining popularity. It also involves recognizing, adjusting and monitoring crop differences between and within fields. As a result, the market's need for yield monitoring systems will definitely increase. In agriculture, yield monitoring systems are primarily used to improve crop management and increase profitability. Overall, the opportunities in agriculture are substantial or have the potential to significantly change the sector, especially as technology develops and becomes more accessible.

Threat:

Difficulty in monitoring the systems

Some farmers may find it difficult to implement yield monitoring systems since the equipment is sophisticated and requires specialist knowledge to install and maintain. Particularly for farmers without prior experience in data analysis or administration, the massive amounts of data generated by yield monitoring systems can be daunting and challenging to manage. However, yield monitoring systems may present privacy and security issues with farm data collection, especially if it is shared with third-party service providers or utilized for other purpose.

COVID-19 Impact:

The market for yield monitoring systems has been influenced by COVID-19. The operations of precision farming manufacturers, as well as those of their suppliers and distributors, were impacted by COVID-19. The demand for precision farming was adversely affected in the short term by the decline in export shipments and the slower domestic demand than before COVID-19. In the post-pandemic environment, the emergence of vertical and indoor farms is anticipated to further fuel market expansion.

The Guidance System segment is expected to be the largest during the forecast period

The Global Positioning System (GPS) in Guidance System segment is expected to have the largest share. A GPS receiver is a distant sensor that determines a combine's position as well as its height, speed, and other characteristics. It records geo-referenced data that can be used to create maps that are helpful to farmers. These discoveries have a huge amount of significance. Using the data from these sources, farmers can evaluate different production metrics and improve yield management.

The moisture segment is expected to have the highest CAGR during the forecast period

The moisture segment is anticipated to witness the highest CAGR during the forecast period. A moisture sensor is used to measure the volumetric water content of the soil using the capacitance principle. Globally, gradual climatic changes and rising awareness among government organizations are driving demand for soil moisture sensors. It is simple to use soil moisture sensors. The quantity and type of irrigation required in the area to create a high yield depend on the rainfall pattern, crop evapotranspiration rate, and soil type. Thus, assessing moisture content aids producers in minimizing adverse environmental effects.

Region with largest share:

During the forecast period, North America is expected to hold the largest share, owing to the rapidly using of cutting-edge farming equipment and machinery, such as sensors, displays, steering and guidance systems, and farm management software. Moreover, due to the increasing use of advanced technologies in various agricultural applications, the reduction of labor requirements, farm consolidation, population growth, and the increasing demand for high productivity from the region's existing agricultural areas.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to the ongoing increase in grain production, particularly in nations like China and India. Additionally, the growth of the yield monitoring market is ultimately being fueled by capital investments made by various countries in this area to improve the agriculture sector. The diverse agricultural landscape of the Asia Pacific region, which ranges from large-scale commercial farms to smallholder operations, creates a significant demand for yield monitor suppliers. Therefore, the region's market is also growing as a result of government programs supporting contemporary farming methods and growing consumer awareness of sustainable agriculture.

Key players in the market:

Some of the key players in Yield Monitor Market include: Ag Leader Technology, GCO Corporation., AgEagle Aerial Systems, Inc., BouMatic, Case Ih, CNH Industrial Group, Cropmetrics, CropX Inc., Deere & Company, Grains Research and Development Corporation, Mouser Electronics, Inc., Raven Industries, Inc., SPL Technologies Pvt. Ltd., Teejet Technologies, Topcon Precision Agriculture, Trimble Inc, Trimble Navigation Limited and Valmont Industries Inc..

Key Developments:

In August 2023, The AGCO Agriculture Foundation ("the Foundation"), a private foundation with the vision to prevent and relieve hunger through sustainable agricultural development, announced a USD 50,000 grant to the MHP-Gromadi Charitable Foundation to support its community-focused initiative to provide high-quality food.

In February 2021, the nation's leading provider of trained technicians to the transportation industry, announced its first-ever agricultural manufacturing training program with AGCO Corporation (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and solutions.

Types Covered:

• GPS Receiver
• Mass Flow Sensor
• Moisture Sensor
• Other Types

Components Covered:

• Hardware
• Software
• Services
• Other Components

Technologies Covered:

• Guidance System
• Remote Sensing
• Other Technologies

Applications Covered:

• Crop Scouting
• Field Mapping
• Variable Rate Application
• Yield Mapping
• Other Applications

End Users Covered:

• Agriculture Consultant
• Farmers
• Research Bodies
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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