Crop Monitoring Market Projected to reach .4 billion by 2025

Posted by edwardzmusso on February 23rd, 2023

The crop monitoring market is estimated to be USD 2.2 billion in 2020 and projected to reach USD 4.4 billion by 2025, at a CAGR of 15.2%. The surging investments in the agriculture technology segment, rising adoption of IoT and AI based devices for crop monitoring, rising concerns for the improvement of farm productivity and profitability as well as the increasing awareness among the farmers towards the use of remote sensing technology are some of the driving factors for the crop monitoring market.

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Low penetration of advance agriculture technologies in developing countries

The digital divide between rural and urban areas in developing countries has hindered the growth of the crop monitoring market. The adoption of advanced technology in developing countries is limited due to several barriers, including unskilled farmers, a less techno-savvy and family-owned farming model, and low awareness among farmers in rural areas. These factors have led to poor adoption of sensing and imagery technology for crop monitoring in developing countries. Therefore, efforts should be made to bridge the digital divide and increase awareness and education among farmers to improve the adoption of advanced technology in crop monitoring.

Sensing and imagery were the most extensively used technology in the global crop monitoring market in 2019

In 2019, sensing and imagery technology had the largest share in the crop monitoring market due to the increased adoption of remote sensing by farmers, allowing them to monitor their farms remotely. This technology is expected to continue its growth during the forecast period. Automation and robotics are also expected to grow rapidly from 2020-2025 due to the rising labor crisis in many countries. The need for increased efficiency and productivity may lead to higher demand for automation and robotics in the crop monitoring market.

Medium type of farms to hold larger market share during forecast period

During the forecast period, medium-sized farms are expected to hold the largest market share in the crop monitoring market due to the presence of a significant number of medium-sized farms worldwide and the profitability of implementing various technologies such as remote sensing, automation and robotics, and variable rate technology. The small-sized farms are expected to grow at the highest rate in the market from 2020-2025, especially in countries such as India, China, and several Southeast Asian countries where there is a significant investment in digitizing the agriculture sector. The presence of various companies in these countries has led to a demand for advanced agricultural technology in small farms.

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Americas held the largest market for the crop monitoring in 2019 and is expected to dominate during the forecast period

In 2019, the Americas held the largest share in the crop monitoring market and is expected to dominate the market during the forecast period. The presence of agri-tech giants such as Trimble, John Deere, and AGCO is the primary reason for the large market share in the Americas. However, the APAC region is expected to witness high growth during the forecast period due to the high degree of adoption of agriculture technology in countries like India, China, Australia, and Japan. Additionally, the major reforms undertaken by governments in the APAC region to boost and digitize the agriculture sector could further propel the growth of the market in APAC.

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edwardzmusso
Joined: February 8th, 2021
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