NEW
YORK, Sept. 13, 2024 /PRNewswire/ -- Report with
market evolution powered by AI- The global agriculture sensing and
monitoring devices market size is estimated to grow by
USD 620.7 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 8.37% during the forecast period. Rising
global population boosting food demand is driving market
growth, with a trend towards growing developments in
agriculture sensing and monitoring devices. However, high
costs for technology adoption in agriculture sensing and monitoring
devices poses a challenge. Key market players include Ag
Leader Technology, AGCO Corp., Arable Labs Inc., Auroras Srl, Bayer
AG, CropX Technologies Ltd., Deere and Co., DICKEY john, DTN LLC,
GroGuru Inc., Hexagon AB, Murata Manufacturing Co. Ltd., Parker
Hannifin Corp., Raven Industries, Inc., Sentera Inc., Syngenta Crop
Protection AG, Teralytic Inc., and Trimble Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Crop
sensing and monitoring devices and Livestock sensing and monitoring
devices), End-user (Farmers, Agricultural companies, and Government
and research institutions), and Geography (North America, Europe,
APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Ag Leader Technology,
AGCO Corp., Arable Labs Inc., Auroras Srl, Bayer AG, CropX
Technologies Ltd., Deere and Co., DICKEY john, DTN LLC, GroGuru
Inc., Hexagon AB, Murata Manufacturing Co. Ltd., Parker Hannifin
Corp., Raven Industries, Inc., Sentera Inc., Syngenta Crop
Protection AG, Teralytic Inc., and Trimble Inc.
|
Key Market Trends Fueling Growth
The agriculture sensing and monitoring devices market is
witnessing notable growth due to technological advancements. CropX
Technologies and Reinke Irrigation recently introduced the Reinke
Direct ET sensor, which mounts on center pivot irrigation systems
to provide farmers with real-time, precise Evapotranspiration (ET)
values for optimized irrigation. GroGuru launched an advanced
wireless soil sensor probe, featuring six sensors at various soil
depths for continuous root zone monitoring in annual field crops.
This technology, equipped with GroGurus patented wireless
underground system (WUGS), offers detailed, real-time insights into
soil conditions for effective water management. These innovations
underscore the progress in agriculture sensing technologies,
enabling farmers to manage resources efficiently and sustainably,
fueling the expansion of the global agriculture sensing and
monitoring devices market. (Exact word count: 50)
Agriculture sensing and monitoring devices are transforming
modern farming practices. These devices use various sensors like
optical, electrochemical, mechanical, and physical to monitor soil,
water, crop health, and livestock. Soil monitoring helps in
understanding soil properties for better crop management. Disease
and pest control are ensured through sensors that detect early
signs of infestations. Irrigation and water management systems use
sensors for efficient use of resources. Smart greenhouses and fish
farms are monitored for optimal growth conditions. Bio-acoustic
sensors detect animal behavior for improved livestock management.
Yield mapping and real-time decision-making are essential for
agricultural production and technology practices like precision
agriculture and intensification. Location sensors, satellite and
drone remote sensing, ground IoT data, and wireless platforms
provide valuable insights for farmers. All these sensors enable
farmers to make informed decisions, improve yields, and enhance
agricultural productivity.
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Market Challenges
- The global agriculture sensing and monitoring devices market
faces a significant challenge due to the high initial costs
associated with adopting these technologies. The expense for
integrating advanced systems can be substantial, acting as a
barrier for farmers, particularly those with limited financial
resources. Costs vary depending on the technology's features and
scale. Comprehensive record-keeping systems, which track crops,
harvests, and expenses, cost between USD25,000 and USD35,000. Basic analytics tools, generating
reports and visualizing data, range from USD15,000 to USD20,000. Weather forecasting systems, crucial
for planning and decision-making, cost between USD5,000 and USD10,000. Real-time data monitoring, including
soil moisture, temperature, and other environmental factors, costs
approximately USD5,000 to
USD8,000. Basic sensor integration,
involving common sensors like soil moisture and temperature
sensors, ranges from USD2,000 to
USD4,000. Data-driven recommendations
for irrigation and fertilization cost between USD3,000 and USD5,000. The total cost for a complete setup
incorporating these features ranges from USD25,000 to USD150,000. Real-time monitoring costs around
USD5,000 to USD8,000, and basic sensor integration costs
between USD2,000 and USD4,000. Ongoing maintenance and updates are
essential, with regular maintenance contracts costing between
USD500 and USD2,000 per month and developer support costing
approximately USD50 to USD100 per hour. These expenses are vital for
maintaining functionality, security, and compatibility with
evolving technologies, adding to the financial challenges of
adopting advanced agricultural technologies. Consequently, the high
costs for technology adoption hinder the growth of the global
agriculture sensing and monitoring devices market during the
forecast period.
- Agriculture sensing and monitoring devices are essential tools
for modern farming, enabling farmers to optimize production and
conserve resources. However, challenges exist in various sectors.
Harvest management and smart farming techniques require real-time
monitoring of environmental conditions, soil condition, and crop
health. Environmental regulations demand accurate detection of
water contamination, pesticide residues, and nutrient shortages.
Indoor farming and climate control call for IoT-enabled devices and
high-tech irrigation tools. Automation and labor reduction bring
challenges in infrastructure support and skilled labor force.
Drought stress, disease attacks, and precision farming methods add
complexity to sensing and monitoring needs. Sports turf segment and
protected cultivation require specialized monitoring devices.
Sensor-based technologies, cellular devices, and weather
forecasting are key to smart agriculture. Overall, agriculture
sensing and monitoring devices are crucial for optimum production,
productivity, and crop yield in the face of food demand, arable
land, and various environmental pressures.
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Segment Overview
This agriculture sensing and monitoring devices market report
extensively covers market segmentation by
- Application
- 1.1 Crop sensing and monitoring devices
- 1.2 Livestock sensing and monitoring devices
- End-user
- 2.1 Farmers
- 2.2 Agricultural companies
- 2.3 Government and research institutions
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Crop sensing and monitoring devices- The
Agriculture Sensing and Monitoring Devices market is experiencing
significant growth due to the increasing demand for precision
farming. These devices provide real-time data on soil moisture,
temperature, and nutrient levels, enabling farmers to make informed
decisions and optimize crop yields. Companies like John Deere and
Trimble are leading this market with innovative solutions. The use
of IoT and machine learning technologies further enhances the
functionality and efficiency of these devices. This results in
improved crop health, reduced water usage, and increased
profitability for farmers.
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gain insights into AI's impact on market dynamics, emerging trends,
and future opportunities- including forecast (2024-2028) and
historic data (2018 - 2022)
Research Analysis
Agricultural sensing and monitoring devices are revolutionizing
the way farmers manage their lands by providing real-time data on
environmental conditions, soil condition, and crop health.
Precision agriculture, a technology practice aimed at intensifying
agricultural production, relies heavily on these devices.
Agricultural sensors, including location sensors, satellite remote
sensing, and drone remote sensing, collect ground IoT data that is
transmitted wirelessly to wireless platforms for analysis. Farmers
can make optimum decisions for yield monitoring, crop health
monitoring, field mapping, and weather forecasting, leading to
increased productivity and crop yield. Smart farming, an essential
component of modern agriculture, utilizes these devices to monitor
agricultural machinery and optimize environmental conditions. With
food demand continuing to rise and arable land becoming scarce, the
use of agricultural sensing and monitoring devices is crucial for
efficient and sustainable farming practices.
Market Research Overview
Agricultural sensing and monitoring devices are revolutionizing
the agricultural industry by providing real-time data and insights
for optimal production. With the intensification of agriculture and
the shift towards precision farming, technology practices have
become essential for farmers to make informed decisions.
Agricultural sensors, including location sensors, satellite remote
sensing, drone remote sensing, and ground IoT data, provide
valuable information on crop health, yield monitoring, field
mapping, irrigation scheduling, harvesting management, and
environmental conditions. These sensors use various technologies
such as optical, electrochemical, mechanical, physical, and
chemical sensors to monitor soil condition, disease control,
irrigation, water management, and more. Smart farming techniques,
including IoT-enabled devices, groundwater levels, infrastructure
support, and precision farming methods, are also gaining
popularity. Environmental regulations, climatic conditions, skilled
labor force, automation, labor reduction, water contamination,
pesticide residues, nutrient shortages, and disease attacks are
some of the challenges addressed by these devices. Indoor farming,
sports turf segment, drought stress, protected cultivation, smart
agricultural practices, and sensor-based technologies are other
areas where agricultural sensing and monitoring devices are making
a significant impact. Cellular devices, agriculture, sensing
devices, monitoring devices, smart farming, and productivity are
all interconnected, with the ultimate goal of achieving optimum
production, real-time monitoring, and resource conservation.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Crop Sensing And Monitoring Devices
- Livestock Sensing And Monitoring Devices
- End-user
-
- Farmers
- Agricultural Companies
- Government And Research Institutions
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio