Autonomous Crop Management Market Size, Share & Trends Analysis Report By Solution, By Deployment, By Application (Crop Tracking & Management, Weather Tracking & Forecasting), By Region, And Segment Forecasts, 2022 - 2030

Autonomous Crop Management Market Size, Share & Trends Analysis Report By Solution, By Deployment, By Application (Crop Tracking & Management, Weather Tracking & Forecasting), By Region, And Segment Forecasts, 2022 - 2030

Autonomous Crop Management Market Growth & Trends

The global autonomous crop management market size is anticipated to reach USD 5.58 billion by 2030, registering a CAGR of 16.2% over the forecast period, according to a new report by Grand View Research, Inc. The collection of agricultural data to enhance crop growth, development, and production using advanced software and technologies is known as autonomous crop management. The market is expanding due to growing agricultural activities and the demand for real-time data for decision-making.

The primary goal of the crop management framework is to understand the environment by analyzing data generated with the help of crop management software. Since the data gathered from agricultural activities depends on real-time data analysis, which makes data management crucial. Artificial intelligence (AI) and machine learning (ML) have become more widespread, enabling real-time access to data that simplifies data management tasks like planning, buying, feeding, harvesting, marketing, and inventory control. Real-time data collected from farming operations aid in analysis and decision-making. Thus, an increase in the implementation of AI and ML for real-time farm data management is driving the growth of the industry.

Furthermore, to meet the growing need for food, most companies are implementing a variety of strategies like merger acquisition, partnerships, and new product launches by implementing a wide range of technologies. For instance, in August 2022, Trimble acquired Bilberry French technology company to extend the selective spraying capabilities for sustainable farming. Selective spraying solutions help the farmers to address the challenges that include an increase in production costs and rising weed resistance to herbicides.

Additionally, in 2019, Syngenta acquired the Cropio Group, an Ag-Tech company that offers end-to-end software solutions that provide imaging, equipment tracking, and record keeping. Software is required to meet the needs of farmers striving for great productivity. This has prompted many investors to fund startups, contributing to the crop management software market expansion.

However, a lack of workforce with proper technical knowledge is likely to hamper the industry’s growth. The industry’s expansion in the upcoming years is also anticipated to be hindered by poor internet access, particularly in emerging markets. Nevertheless, the key players are expecting to find plenty of opportunities to profit in the near future, owing to the technical improvements and the increasing use of smartphones. For instance, in February 2022, Croptracker, Inc. released ground-breaking Harvest Quality Vision 3.0 (HQV 3.0) which to anticipate the size of harvested food accurately. It uses the same off-the-shelf LiDAR technology seen in iPads and iPhones to quickly and accurately scan fruits of all shapes and sizes.

Autonomous Crop Management Market Report Highlights

• The major factors driving the industry’s growth include the rising use of contemporary farming techniques and rising food demand brought on by the world's expanding population.
• The services segment is anticipated to grow at the fastest CAGR of 16.7% during the forecast period. Services are further bifurcated into professional and managed services. Professional services are further classified into system integration & consulting and maintenance & support. System integration is anticipated to grow with the fastest CAGR during the forecast period
• The cloud-based software model is anticipated to gain significant market share over the projected period as it eliminates energy consumption and provides storage for a large amount of data while facilitating cost-saving
• Crop tracking and management held the largest share of 30.4% in 2021. Owing to the benefits offered such as minimizing human error and providing real-time alerts to infections & diseases to reduce crop loss
• The digital revolution in the agricultural sector, along with government financial initiatives for farms, is expected to drive the demand for crop management software in Europe in the upcoming years
• Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the availability of the largest agricultural land, which provides opportunities for the market to grow in countries such as China, India, and Japan