Smart Crop Monitoring Market Expected to Reach USD 7.16 Billion by 2028 - BIS Research

Smart crop monitoring employs advanced technologies like satellite imagery, drones, sensors, and data analytics for precise agricultural crop management. It utilizes real-time data for optimizing irrigation, pest control, fertilization, and overall crop health, facilitating informed decision-making and sustainable practices. The global smart crop monitoring market was valued at $2.78 billion in 2022, and it is expected to grow with a CAGR of 16.90% during the forecast period 2023-2028 to reach $7.16 billion by 2028.

Access TOC: Smart Crop Monitoring TOC

Market Analysis: Trends, Data, and Growth Projections

According to USDA, conventional pesticide use in the U.S. amounts to 1 billion pounds annually, with inefficient spraying methods leading to significant waste. Smart crop scouting and spraying offer the potential for input optimization, minimizing waste, and enhancing yields. The rising demand for smart crop monitoring stems from its ability to provide real-time data on crop and soil conditions, enabling accurate and timely input application for improved efficiency and yield. BIS Research, a leading market research firm, has released a report titled- Smart Crop Monitoring Market, which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the smart crop monitoring market. The detailed study is a compilation of 3 market data tables, and 35 figures spread across 128 pages.

Download a Free Sample: Smart Crop Monitoring Market Sample

Key Players and Market Segments

Some major companies operating in the global smart crop monitoring market are:

• Trimble Inc.

• Deere & Company

• CNH Industrial N.V.

• KUBOTA Corporation

• Airbus

• IBM Corporation

• DJI

• Climate LLC

• AGRIVI

• Small Robot Company

• Semios

The smart crop monitoring market comprises three main segments: application, product, and region. In terms of application, the market is segmented into disease and pest detection, nutrient management, weed management, crop insurance, and others. Disease and pest detection are expected to drive the highest demand, as early identification is crucial for preventing extensive crop damage. Integrating these applications with other smart farming technologies further enhances the demand for crop health monitoring.

The product segmentation includes sensor technology, drones, robots, handheld devices, and software/mobile applications. Drones, equipped with advanced sensors, are poised for significant growth, providing real-time data for precise crop health assessment and contributing to sustainable farming practices. Handheld devices offer a cost-effective alternative, democratizing access to precision agriculture tools and promoting widespread adoption.

North America and Europe dominate the regional market due to advanced agricultural infrastructure and technological innovation. Asia-Pacific's dynamic agricultural landscape and the need for sustainable practices drive substantial growth, with countries like India and Australia pioneering precision agriculture. The Middle East, Africa, and South America also contribute to the market with supportive policies and advancements fostering efficient and eco-friendly farming practices globally.

Market Drivers, Challenges, and Opportunities

Regulatory advancements, ongoing research, and collaboration between industry leaders are contributing factors in the growth of the smart crop monitoring market. Market drivers for smart crop monitoring include the imperative need for input optimization in agriculture, aiming to boost productivity, cut costs, and tackle challenges like climate change and resource scarcity. Maximizing land productivity, efficient labor management, and optimizing fertilizer use are pivotal driving factors. The Russia-Ukraine crisis and escalating fertilizer prices highlight the critical role of precision agriculture in optimizing costly inputs.

Challenges in the market originate from a lack of connectivity and technical awareness, particularly in developing nations. Insufficient internet connectivity impedes data flow, hindering real-time insights. Additionally, a lack of technical awareness among remote farmers hampers effective adoption. Addressing these challenges requires awareness campaigns and enhanced connectivity.

Market opportunities are fueled by the global emphasis on sustainability, fostering demand for precision agriculture technologies. Smart crop monitoring, with advanced sensors and analytics, facilitates data-driven decisions, reducing wastage, conserving resources, and lessening environmental impact. The sustainability trend creates a significant market opportunity for solution providers. Farmers are actively seeking eco-friendly solutions that align with regulations and consumer preferences. Providers highlighting the environmental advantages of their offerings are poised to capitalize on the increasing demand for smart crop monitoring technologies in the agriculture sector.

Related Reports

Smart Crop Scouting and Smart Spraying Market

Satellite Imaging for Agriculture Market

Agriculture Drones and Robots Market

Analyst Note

BIS principal analyst suggests: "Monitoring Technology-as-a-Service (MTaaS) is transforming the smart crop monitoring market by eliminating upfront costs, enhancing accessibility for smallholders, and enabling scalability. This trend also provides farmers with expert support, maximizing the benefits of smart crop monitoring. MTaaS fosters market growth by broadening adoption and aligns with sustainability goals by promoting resource efficiency. Companies offering MTaaS gain a competitive edge through cost-effective and accessible smart monitoring services. MTaaS is expected to have a lasting impact, making advanced monitoring technology more widely available, cost-effective, and sustainable for farmers globally."

Consult for Custom Research:

Custom Research by BIS Research

About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate and custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.

Contact

Head of Marketing

Email: media@bisresearch.com

BIS Research Inc.

39111 PASEO PADRE PKWY STE 313,

FREMONT, CA 94538-1686

Visit our Blog @https://bisresearch.com/insights

Get Expert Insights @https://community.insightmonk.com

Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research

Connect with us on Twitter@ https://twitter.com/BISResearch