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Global Smart Crop Monitoring Market Report 2022-2027: Increased Research and Development Activities & Investment in Smart Agriculture Present Opportunities for Future Growth

[August 11, 2022]

Global Smart Crop Monitoring Market Report 2022-2027: Increased Research and Development Activities & Investment in Smart Agriculture Present Opportunities for Future Growth

DUBLIN, Aug. 11, 2022 /PRNewswire/ -- The "Smart Crop Monitoring Market - A Global and Regional Analysis: Focus on Product and Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global smart crop monitoring market was valued at $1,927.83 million in 2021, which is expected to grow with a CAGR of 12.75% and reach $3,955.39 million by 2027. The growth in the global smart crop monitoring market is expected to be driven by increasing demand for food and the growing need for precision, digital, and smart agriculture practices.

Market Lifecycle Stage

The smart crop monitoring market is still in an evolving phase. Increased research and development activities are underway to develop smart crop monitoring technologies and products, which are expected to increase due to the increased demand for food and the need for automation in the agriculture sector.

Increasing investment in smart agriculture is one of the major opportunities in the global smart crop monitoring market. Moreover, smart crop monitoring technologies also help in reducing crop losses due to crop diseases and harsh climatic conditions, which aid the farmers in increasing crop quality and quantity.

Impact

With an increased worldwide focus on achieving the global food demand, the shift to digital, smart, and data-driven products in the agriculture sectors brings significant sales and financing opportunities. The shift is more prominent in automation and robotics segments in regions such as North America and Europe.
Furthermore, smart crop monitoring has a moderate to high impact on crop protection systems to reduce crop losses due to crop diseases and pest infestations.

Market Segmentation
by Application

Soil Monitoring
Weather Forecasting
Yield Monitoring
Crop Protection
Others

The global smart crop monitoring market in the application segment is expected to be dominated by crop protection technologies. This isdue to smart crop monitoring being a highly beneficial methodology to decrease crop losses due to crop diseases, pest infestations, and harsh climatic conditions.

by Type

Hardware
Software
Services

The global smart crop monitoring market is slightly more dominated by the services segment. This is due to the wide variety of services in the form of advisories and consultations, and rental equipment results in the higher adoption and usage by the end users globally.

by Technology

Sensing and Imagery
Automation and Robotics
Variable-Rate Technology (VRT)
Guidance Technology

The automation and robotics segment dominates the global smart crop monitoring market due to the higher adoption of products such as robots, drones, and unmanned aerial vehicles (UAV).

by Region

North America - U.S., Canada, and Mexico
Europe - Italy, Germany, Spain, France, and Rest-of-Europe
China
U.K.
Asia-Pacific - Japan, India, Australia, and Rest-of-Asia-Pacific
Middle East and Africa - Saudi Arabia, South Africa
South America - Brazil, Argentina, Rest-of-South America

Demand - Drivers and Limitations
Following are the demand drivers for the smart crop monitoring market:

Need to Reduce Crop Losses
Higher Yields as Compared to Conventional farming
Government Support and Initiatives for Smart Crop Monitoring Equipment

The market is expected to face some limitations too due to the following challenges:

Cyber and Online Data Security
Lack of Connectivity and Technical Awareness
High Set-Up Costs

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The top segment players leading the market include variable-rate technology (VRT) and automation and robotics, which capture around 52% of the presence in the market. Players in other technologies, such as sensing and imagery and guidance technology, account for approximately 48% of the presence in the market, as of 2021.

Some of the prominent names established in this market are:

Company Type 1: Sensing and Imagery