Meticulous Research®, a renowned leader in global market research, has released an exclusive report titled, "Crop Monitoring Market by Offering, Technology (Remote Sensing, AI & Computer Vision, Automation & Robotics, Others), Farm Type, Application (Yield Monitoring, Crop Scouting, Nutrient Monitoring, Others), and Geography - Global Forecast to 2030.”
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According to the report, the global crop monitoring market is projected to grow to $8.9 billion by 2030, achieving a robust CAGR of 19.3% during the forecast period. This growth is propelled by the increasing adoption of remote sensing technologies in precision farming, supportive government initiatives promoting IoT in agriculture, and the rising global demand for high-quality agricultural products. Despite these positive trends, market growth may face challenges such as the high costs of advanced agricultural equipment and stringent government regulations.
The report highlights the growing integration of AI and IoT technologies in crop monitoring devices, as well as advancements in mapping and navigation solutions, which are anticipated to create significant growth opportunities. Conversely, challenges such as limited technical knowledge among farmers and the low adoption of agricultural technologies in developing regions may pose obstacles to market growth.
Market Segmentation and Insights:
Meticulous Research® has segmented the crop monitoring market based on offering, technology, farm type, application, and geography to provide a comprehensive analysis:
By Offering: The market is categorized into hardware, software, and services. The hardware segment is expected to dominate in 2023, driven by the rapid automation of agricultural processes, the increasing use of drones for yield monitoring, and rising labor costs. Notably, XAG Co., Ltd. (China) introduced the V40 and P40 agricultural drones in November 2021, enhancing yield monitoring and cost efficiency.
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By Technology: Segments include remote sensing, AI & computer vision, IoT, cloud technologies, big data, automation & robotics, and others. The remote sensing segment is anticipated to hold the largest market share in 2023, attributed to the decreasing costs of sensors and increased government investment in farm automation systems. For example, Farmsense (U.S.) launched the FlightSensor in June 2022, a real-time pest monitoring system improving pest management and crop yield optimization.
By Farm Type: The market is divided into small farms (less than 2 hectares), medium farms (2-10 hectares), and large farms (more than 10 hectares). Large farms are expected to lead the market in 2023, due to the higher adoption of advanced technologies that enable precise health, growth, and yield assessments over extensive land areas.By Application: The segments include yield monitoring, field mapping, crop scouting, nutrient monitoring, pest control, and others. Yield monitoring is projected to dominate the market in 2023, driven by the increasing adoption of precision farming practices, rising food consumption due to population growth, and government subsidies aimed at enhancing agricultural profitability. NASA’s partnership with CropX Inc. (Israel) in March 2021 exemplifies efforts to support sustainable agriculture and improve crop yields.
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By Geography: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Europe is expected to hold the largest market share in 2023, fueled by the demand for improved food products, the adoption of precision farming techniques, and substantial government investments in IoT solutions. For instance, the European Union funded the Robs4Crops project in January 2021 with USD 9.3 million to accelerate the implementation of robotics and automation in farming.
Key Players:
Leading companies in the global crop monitoring market include Topcon Corporation (Japan), Trimble Inc. (U.S.), Climate LLC (U.S.), Yara International ASA (Norway), CropX Inc. (Israel), EOS Data Analytics, Inc. (U.S.), The Cropio Group (U.S.), PrecisionHawk (U.S.), Taranis (Israel), Ag Leader Technology (U.S.), Deere & Company (U.S.), AGCO Corporation (U.S.), Sentera (U.S.), American Robotics, Inc. (U.S.), SGS S.A. (Switzerland), Cropin Technology Solutions Private Limited (India), Arable (U.S.), and Small Robot Company (U.S.).
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