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Report on How AI is Driving Market TransformationThe agriculture sensing and monitoring devices market size is forecast to increase by USD 620.7 million at a CAGR of 8.37% between 2023 and 2028. The market is experiencing significant growth, driven by the rising global population and the subsequent increase in food demand. This trend is leading to a greater focus on improving agricultural productivity and efficiency through advanced technologies. One such technology is agriculture sensing and monitoring devices, which provide real-time data on soil moisture, temperature, crop health, and other vital factors. However, the high costs associated with adopting these technologies pose a challenge for many farmers, particularly in developing countries. Despite this, the market is expected to continue growing, fueled by ongoing research and development in agriculture technology and the increasing recognition of the benefits it brings to sustainable and profitable farming practices. The market report forecast market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Crop sensing and monitoring devices segment is estimated to witness significant growth during the forecast period. Agricultural production is undergoing a technological revolution with the integration of sensing and monitoring devices that enable precision agriculture. This revolution is driven by the need for intensification to meet the growing demand for food while addressing environmental regulations and labor shortages. Agricultural sensors, including location sensors, satellite remote sensing, and drone remote sensing, provide real-time data on crop health, yield monitoring, field mapping, irrigation scheduling, and harvesting management. Ground IoT data, wireless platforms, and smart farming techniques facilitate automation, labor reduction, and improved decision-making.
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The Crop sensing and monitoring devices segment accounted for USD 521.30 million in 2018. High-technology irrigation tools, such as soil moisture sensors and smart irrigation applications, optimize water usage and reduce water contamination, pesticide residues, nutrient shortages, and disease attacks. Indoor farming, protected cultivation, and sports turf segments also benefit from these sensor-based technologies. Climatic conditions and skilled labor force are critical factors influencing the adoption of these advanced systems. IoT-enabled devices, groundwater levels, infrastructure support, and precession farming methods further enhance the potential of these technologies. Drought stress, smart agricultural practices, and sensor-based technologies are key trends shaping the future of agriculture.
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North America is estimated to contribute 35% to the growth of the global market during the market forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Agriculture sensing and monitoring devices play a pivotal role in modern farming practices, enabling smart farming and precision agriculture. These technologies help farmers monitor environmental conditions and soil properties in real-time, ensuring optimum production and productivity on arable land. Sensing devices, including optical, mechanical, and chemical sensors, measure various parameters such as temperature, humidity, soil moisture, and nutrient levels. Monitoring devices provide farmers with valuable insights into crop health, disease control, irrigation, and water management. Smart agriculture incorporates weather forecasting and resource conservation, allowing farmers to make informed decisions and respond promptly to changing conditions. Sensing technologies are also used in smart greenhouses, fish farm monitoring, and livestock monitoring. Crop scouting is enhanced with the use of drones and sensors, while yield mapping and soil properties analysis contribute to effective crop management. Pest control is optimized with bio-acoustic sensors and physical sensors that detect early signs of infestations. Overall, agriculture sensing and monitoring devices are essential tools for farmers seeking to meet increasing food demand while minimizing resource usage and maximizing crop yield.
Agriculture Sensing and Monitoring Devices Market: Overview The Agriculture Sensing and Monitoring Devices Market is a rapidly growing sector driven by the need for Intensification and Precision Agriculture to meet the increasing Food Demand. Agricultural production relies heavily on Technology Practices to optimize Yield and Productivity. Agricultural Sensors, including Location Sensors, Satellite Remote Sensing, Drone Remote Sensing, and Ground IoT Data, play a crucial role in Real-time Decision-making. These devices enable Farmers to monitor Crop Health, Soil Condition, and Environmental Conditions in real-time. Wireless Platforms facilitate the collection and transmission of data, enabling Real-time Monitoring and Weather Forecasting. Smart Agriculture, which includes Agriculture Sensing and Monitoring Devices, is transforming traditional Agricultural Machinery and Precision Farming. Arable Land management is essential to optimize Crop Yield under various Climatic Conditions. Crop Scouting is another application of these devices, allowing Farmers to identify issues early and take corrective measures. Overall, Agriculture Sensing and Monitoring Devices are essential tools for Smart Farming and ensuring Optimum Production in the face of changing Environmental Conditions. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising global population boosting food demand is notably driving market growth. The global agricultural sector is experiencing significant pressure to meet the increasing food demands of a growing population, projected to reach approximately 10.3 billion by mid-2080s. To address this challenge, farmers and agricultural businesses are adopting advanced technology practices, including precision agriculture, to optimize resource use, enhance crop yield, and ensure sustainability. Agricultural sensors, such as location sensors, satellite remote sensing, drone remote sensing, and ground IoT data, play a crucial role in this intensification process. These sensor-based technologies enable real-time decision-making through yield monitoring, crop health monitoring, field mapping, irrigation scheduling, and harvesting management. Smart farming techniques, including high-technology irrigation tools, soil moisture sensors, and IoT-enabled devices, contribute to automation and labor reduction while addressing concerns related to water contamination, pesticide residues, nutrient shortages, and disease attacks. Additionally, environmental regulations, indoor farming, and sports turf segments are also adopting these smart agricultural practices to manage climatic conditions and maintain optimal growing conditions. Infrastructure support and precision farming methods, such as sensor-based technologies, cellular devices, and groundwater levels monitoring, are essential for the successful implementation of these advanced agricultural practices. Thus, such factors are driving the growth of the market during the forecast period.
The growing developments in agriculture sensing and monitoring devices is the key trend in the market. The market is witnessing notable growth due to the integration of technology in agricultural production. Precision agriculture, a modern farming approach, is gaining popularity with the adoption of agricultural sensors and advanced technology practices. Location sensors, such as satellite remote sensing and drone remote sensing, provide vital data on crop health, yield monitoring, field mapping, and irrigation scheduling. Real-time decision-making is facilitated through wireless platforms, IoT-enabled devices, and ground IoT data. Smart farming techniques, including high-technology irrigation tools and soil moisture sensors, enable farmers to optimize water usage and reduce labor requirements. Environmental regulations necessitate the use of sensor-based technologies to monitor water contamination, pesticide residues, nutrient shortages, and disease attacks. Indoor farming and sports turf segments also benefit from these innovations, addressing climatic conditions and ensuring optimal growth. Innovations like CropX Technologies' Reinke Direct ET sensor, which offers real-time, accurate Evapotranspiration readings, optimize irrigation scheduling and reduce water usage. These advancements contribute to smart agricultural practices, enhancing overall productivity and sustainability. However, infrastructure support is crucial for the successful implementation of these technologies. Precision farming methods, such as smart irrigation applications and groundwater level monitoring, are essential for addressing challenges like drought stress, disease attacks, and environmental concerns. Thus, such trends will shape the growth of the market during the forecast period.
The high costs for technology adoption in agriculture sensing and monitoring devices is the major challenge that affects the growth of the market. The agricultural sensing and monitoring devices market plays a crucial role in enhancing agricultural production by implementing technology practices for intensification and precision agriculture. Agricultural sensors, including location sensors from satellites and drones, ground IoT data, and wireless platforms, enable real-time decision-making through yield monitoring, crop health monitoring, field mapping, irrigation scheduling, and harvesting management. Smart farming techniques employing sensor-based technologies, such as high-technology irrigation tools, soil moisture sensors, and IoT-enabled devices, address environmental challenges like water contamination, pesticide residues, nutrient shortages, and disease attacks. Indoor farming and sports turf segments also benefit from these advanced technologies. However, the high initial cost of adopting these systems remains a significant challenge, particularly for farmers with limited financial resources. Costs vary depending on the features and scale, with comprehensive record-keeping systems ranging from USD25,000 to USD35,000, basic analytics tools costing between USD15,000 and USD20,000, and weather forecasting systems priced between USD5,000 and USD10,000. Climatic conditions, skilled labor force, automation, labor reduction, and infrastructure support further influence the market's growth. Smart agricultural practices and sensor-based technologies continue to evolve, offering potential solutions to address the challenges faced by the agricultural industry. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ag Leader Technology - The company offers agricultural sensing and monitoring devices such as Yield Monitor, CartACE, Intellislope, InCommand, Agfinity, and others.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Agricultural production is a critical sector that relies heavily on technology practices to ensure efficient and productive farming. Intensification of agricultural practices has led to the adoption of precision agriculture, which utilizes agricultural sensors to monitor and manage various aspects of farm operations. Location sensors, such as satellite remote sensing and drone remote sensing, provide valuable data for field mapping and yield monitoring. Ground IoT data collected by wireless platforms enables real-time decision-making, while crop health monitoring and irrigation scheduling ensure optimal growth conditions. Harvesting management and smart farming techniques further enhance productivity and reduce labor needs.
Moreover, environmental regulations necessitate the use of high-technology irrigation tools like soil moisture sensors and smart irrigation applications. IoT-enabled devices provide insights into groundwater levels, infrastructure support, and precision farming methods. The sports turf segment also benefits from sensor-based technologies, ensuring optimal growing conditions. Additionally, Digital Health innovations and Over the Counter (OTC) solutions are increasingly being integrated to enhance agricultural practices.
Further, climatic conditions, a skilled labor force, automation, water contamination, pesticide residues, nutrient shortages, and disease attacks are some of the challenges addressed by these advanced agricultural sensing and monitoring devices. High-technology irrigation tools, such as soil moisture sensors and smart irrigation applications, play a crucial role in addressing issues like drought stress and protected cultivation. Sensor-based technologies and cellular devices are transforming agricultural production with smart agricultural practices.
Market Scope |
|
Report Coverage |
Details |
Page number |
203 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.37% |
Market growth 2024-2028 |
USD 620.7 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.67 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Germany, France, Japan, UK, Brazil, India, Turkey, and Mexico |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ag Leader Technology, AGCO Corp., Arable Labs Inc., Auroras Srl, Bayer AG, CropX Technologies Ltd., Deere and Co., DICKEY john, DTN LLC, GroGuru Inc., Hexagon AB, Murata Manufacturing Co. Ltd., Parker Hannifin Corp., Raven Industries, Inc., Sentera Inc., Syngenta Crop Protection AG, Teralytic Inc., and Trimble Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Application
9 Market Segmentation by End-user
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
With the growing adoption of AI across industries, Technavio has analyzed its impact on the global market for agriculture sensing and monitoring devices is crucial in advancing modern farming techniques. Artificial Intelligence (AI) is revolutionizing this sector by enhancing the performance of sensing devices, improving data collection and analysis, optimizing farm management, and increasing overall crop productivity.This analysis delves into AI's impact on the horse racing market, backed by data and real-world examples.
These insights, available exclusively through Technavio, provide an unparalleled significant impact of AI on the agriculture sensing and monitoring devices market, backed by real-world examples and data.
The report provides details of AI's impact on various segment
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