Crop Monitoring Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software/Mobile Applications and Services), By Farm Type (Small Sized Farms, Medium, Sized Farms and Large Sized Farms) By Technology (Variable Rate Technology, Sensing and

Crop Monitoring Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software/Mobile Applications and Services), By Farm Type (Small Sized Farms, Medium, Sized Farms and Large Sized Farms) By Technology (Variable Rate Technology, Sensing and Imagery and Automation and Robotics), By Application (Soil Monitoring, Field Mapping, Crop Scouting and Other Applications) and Geography

According to Stratistics MRC, the Global Crop Monitoring Market is accounted for $14.77 million in 2022 and is expected to reach $24.37 million by 2028 growing at a CAGR of 17.2% during the forecast period. Crop monitoring devices are sold by entities (organisations, sole traders, and partnerships) that monitor crop growth and any anomalies in order to effectively prevent diseases or infections that would harm crops. Crop monitoring devices are smart devices that are used to improve crop production during the crop development stages, such as water spraying and harvesting. They were deployed in the field to collect data on a variety of parameters such as temperature, precipitation, leaf water potential, and overall crop health. Factors such as the increased use of crop monitoring devices to boost crop production and rising investments in agricultural technologies are propelling the global crop monitoring market forward. Furthermore, the introduction of smart agriculture techniques and the use of internet of things technology to support sustainable agriculture are expected to open up numerous growth opportunities for market participants during the forecast period.

According to a BI Intelligence survey, the adoption of IoT devices in the agriculture business reached 75 million in 2020, expanding at a rate of 20% each year. With this growth, the market is expected to rise during the forecast period.

Market Dynamics:

Driver:

Rising adoption of AI and IoT-based crop monitoring devices

The emergence of IoT and AI-based crop monitoring devices has been a driving factor in the growth of the crop monitoring market. Furthermore, the connected environment, combined with remote monitoring capabilities, has resulted in increased adoption of these devices. Because of advancements in the field of sensors and their affordability, the use of smart sensors is becoming more common in the agricultural sector. Companies such as Prospera Technologies (Israel), Blue River Technology (US), Bosch (Germany), CropIn Technology (India), and Sigfox (France) have made significant market impact by providing advanced technologies in AI and IoT for improved crop monitoring and management.

Restraint:

Low penetration of advanced agriculture technologies in developing countries

Low penetration of advanced agricultural technologies in developing countries could become a major barrier to market growth. Several barriers to technology adoption in developing countries, such as unskilled farmers, a less technologically savvy population, and a family-owned farming model, have resulted in low adoption of advanced technology. Furthermore, low technology awareness among farmers in developing economies' rural areas has resulted in lower adoption of sensing and imagery technology for crop monitoring.

Opportunity:

Increase in demand for smart agriculture & IoT in Agriculture

The growing demand for smart agriculture and IoT in agriculture is expected to drive the crop monitoring market forward. IoT smart farming is a system that uses sensors to monitor crop fields for light, humidity, temperature, soil moisture, crop health, and irrigation system automation, allowing farmers to monitor agricultural conditions from any location. In response to shrinking agricultural lands and the depletion of finite natural resources, the desire to increase farm yields grew. Smart farming based on IoT technologies enables farmers and growers to reduce waste while increasing productivity. Thus, an increase in smart agriculture and IoT in agriculture demand is propelling the crop monitoring market forward.

Threat:

Small and fragmented land holdings in large parts of world

Catering to farmers with small and fragmented land holdings is a major challenge for companies in the crop monitoring market. Remote sensing, VRT, automation, and robotics implementation is based on economies of scale, as a small holding will not provide a significant return. Countries such as China and India have enormous market potential, but their land holdings are quite small and fragmented. This could be a significant challenge in the global market's development.

Covid-19 Impact

The COVD-19 had a brief impact on the crop monitoring market, particularly during the initial phase of the COVID due to global lockdown. The strict lockdown imposed resulted in the partial or complete shutdown of industries, disrupting supply chains and crop monitoring solution manufacturing. New projects have stalled all over the world, resulting in a drop in demand for crop monitoring solutions. However, as industries recover, the demand for crop monitoring solutions will rise, as the agricultural sector has suffered greatly due to the labour crisis. As a result, the demand for automation and robotic crop monitoring solutions will rise, propelling the market forward.

The Hardware segment is expected to be the largest during the forecast period

During the forecast period, the Hardware segment is expected to gain the largest share due to the increased use of sensing and imagery technologies to determine key crop production indicators such as yield and production, cropping intensity, crop acreage, crop condition, and crop planting proportion. The developing economies are assessing crop production and related indicators using remote sensing data combined with selected field data. The growing need to detect moisture deficiency in crops, pests, weeds, and fungi has increased the use of remote sensing technology. Moreover, crop and soil sensors, farm mapping, and aerial drones are being used by farmers to increase crop yield and improve crop quality, which is expected to drive the growth of the market.

The Small sized farms segment is expected to have the highest CAGR during the forecast period

The small-sized farms segment is expected to grow at the highest CAGR during the forecast period. Small farms are more common in countries such as India, China, and several Southeast Asian countries that are investing heavily in digitising the agriculture sector. Furthermore, the presence of various corporations in these countries has resulted in a demand for advanced agricultural technology on small farms. In addition to that, the government of Andhra Pradesh has adopted technological solutions for delivering sustainable solutions to smallholder farmers in order to boost India's agriculture sector. Such factors are boosting the growth of the small sized farms segment.

Region with largest share:

In 2020, Asia Pacific dominated the market with a 42% share and is expected to maintain the largest share during the forecast period. Companies such as Trimble, John Deere, and other agri-tech heavyweights have a significant market share in crop monitoring. However, because of the widespread adoption of agricultural technology in countries such as India, China, Australia, and Japan, the Asia Pacific region is expected to grow rapidly. Furthermore, significant government changes in the Asia Pacific region to improve and digitise the agriculture industry may propel the crop monitoring market growth.

Region with highest CAGR:

The North America region is expected to register the highest CAGR growth during the forecast period owing to agriculture-specific technologies that are rapidly gaining traction in the region. According to Cambridge University, precision agriculture has been adopted by roughly 52% of farms in the United States. In 2017, approximately 2,029,200 farms in the United States used 950 million acres of land, according to US Department of Agriculture estimates. Moreover, because of the importance of agriculture, the governments are putting more emphasis on introducing precision agricultural technologies in this region, resulting in market growth.

Key players in the market

Some of the key players profiled in the Crop Monitoring Market include Deere & Company, Monsanto company, Libelium Comunicaciones Distribuidas S.L., Topcon precision agriculture, Trimble Inc., AGCO Corporation, Pessl Instruments GmbH, Teejet Technologies Illinois Llc, Yara International ASA, CropX Technologies, Kasco Manufacturing Co., Inc., John Deere, The Climate Corporation, Kubota Corporation, Morris Industries Ltd, Seedmaster and Surface Optics Corporation.

Key Developments:

In May 2020, Pessl Instruments GmbH announced the integration of its IoT and agro-meteorological data management platform named ‘Fieldclimate’ with Microsoft Azure FarmBeats. The integration was aimed to enable easy and profitable agriculture data-analysis for better decision-making

In January 2020, Cropx, a US-based soil sensing and data analytics company, acquired CropMetrics for an undisclosed amount. Through this acquisition, CropX aims to become a global leader for in-soil IoT solutions by adding CropMetrics's solutions, extensive dealer network, and experienced support team. Cropmetrics LLC is a US-based provider of advanced agronomic solutions and specializes in precision agricultural irrigation management

In April 2019, The Climate Corporation partnered with Airbus S.A.S. to deliver superior, updated satellite imagery solutions to farmers through Climate Corporation's patented digital agriculture platform, named 'Climate FieldView’

Components Covered:
• Hardware
• Software/Mobile Applications
• Services

Farm Types Covered:
• Small Sized Farms
• Medium Sized Farms
• Large Sized Farms

Technologies Covered:
• Variable Rate Technology
• Sensing and Imagery
• Automation and Robotics

Applications Covered:
• Soil Monitoring
• Field Mapping
• Crop Scouting
• Yield Monitoring
• Variable Rate Applications
• Weather Monitoring and Forecasting
• Other Applications

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 2020, 2021, 2022, 2025, and 2028
- 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