Global Crop Monitoring Devices Market is segmented By Product Type (Software & Hardware, Accessories, Displays, Receivers, Sensors, Others) By Application (Weather Forecasting, Crop Management, Labour Management, Financial Management, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Size
Global Crop Monitoring Devices Market reached US$ 2.56 billion in 2022 and is expected to reach US$ 4.24 billion by 2031, growing with a CAGR of 6.5% during the forecast period 2024-2031.
The integration of the Internet of Things (IoT) and Artificial Intelligence (AI) technologies is driving innovation in crop monitoring devices. IoT-enabled sensors collect real-time data on various aspects of crop health and environmental conditions, while AI algorithms analyze this data to provide actionable insights for farmers. This trend is leading to the development of more efficient monitoring devices that offer enhanced precision and decision-making capabilities.
For instance, on July 25, 2023, EOS Data Analytics (EOSDA), a leading global provider of AI-powered satellite imagery analytics, introduced EOSDA Crop Monitoring. This online precision agriculture platform utilizes satellite-based technology for field monitoring and is now available in France. The platform offers local farmers the opportunity to monitor up to 300 hectares of fields at no cost.
North America leads the adoption of precision agriculture technologies globally, driven by the region's large-scale farming operations and advanced agricultural infrastructure. Farmers in North America are increasingly investing in crop monitoring devices to optimize inputs, improve crop yields, and enhance overall farm efficiency. This trend is fueled by the availability of advanced technologies, favorable government policies, and the need to remain competitive in the global market.
Market Scope
| Metrics | Details |
| CAGR | 6.5% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product Type, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
Increasing Demand for Precision Agriculture
The increasing demand for precision agriculture is expected to drive significant growth in the global crop monitoring devices market. Precision agriculture involves the use of advanced technologies such as GPS, sensors, drones, and satellite imagery to optimize farming practices and maximize crop yields. These technologies enable farmers to monitor crop health, soil conditions, and environmental factors with a high degree of accuracy and efficiency.
As the adoption of precision agriculture continues to rise, there is a corresponding increase in the demand for crop monitoring devices. These devices play a crucial role in collecting and analyzing data related to various aspects of crop growth and management. They provide farmers with real-time information about crop health, pest infestations, moisture levels, and nutrient deficiencies, allowing for timely interventions and better decision-making.
For instance, on August 2, 2023, the government of India initiated a pilot digital crop survey across 12 states starting from the kharif (summer-sown) season of 2023 year to enhance the collection of sowing data. The Agriculture Minister of India stated, "The Government has introduced a pilot Digital Crop Survey (DCS) in 12 states from the Kharif season of 2023," highlighting the commitment to improving data collection processes for agricultural activities.
Continuous Advancements in Crop Monitoring Devices
Continuous advancements in crop monitoring devices are poised to be a significant driver of growth in the global crop monitoring devices market. These advancements encompass a wide range of technological innovations aimed at enhancing the capabilities, efficiency, and usability of crop monitoring devices, thereby addressing the evolving needs of farmers and agricultural stakeholders.
Advancements in sensor technology are enabling the development of more sophisticated and precise monitoring devices. These sensors can measure various parameters such as temperature, humidity, soil moisture, nutrient levels, and crop health indicators with greater accuracy and granularity. As a result, farmers can obtain more detailed insights into their crops' conditions and make more informed decisions regarding irrigation, fertilization, and pest management.
For instance, on November 6, 2023, the Department of Agriculture and Farmers Welfare (DA&FW) of India, in partnership with the Wadhwani Institute for Artificial Intelligence (Wadhwani AI), introduced Krishi 24/7, a pioneering AI-driven solution designed for automated monitoring and analysis of agricultural news. This innovative platform received support from Google.org, marking a significant milestone in leveraging technology to enhance agricultural information access and analysis.
High Initial Investment
The initial investment for acquiring crop monitoring devices, including sensors, drones, software systems, and other necessary infrastructure, can be substantial. For small-scale farmers or those operating in regions with limited financial resources, the upfront cost may be prohibitive, leading to a reluctance to adopt these technologies. This can limit the market penetration of crop monitoring devices, especially in developing countries where agriculture forms a significant part of the economy.
Farmers hesitate to invest in crop monitoring devices due to concerns about the return on investment (ROI). While these technologies have the potential to increase crop yields, reduce input costs, and improve overall farm efficiency, the benefits are not immediately apparent or guaranteed. Farmers are cautious about making significant investments without a clear understanding of the expected returns, they have limited experience with precision agriculture technologies.
Segment Analysis
The global crop monitoring devices market is segmented based on product type, application, and region.
Growing Demand for Advanced Software & Hardware Solutions
The software & hardware segment holds the largest share of the global crop monitoring devices market. The hardware includes various physical devices used for crop monitoring are essential for collecting data on crop health, soil conditions, weather patterns, and other environmental factors. As the adoption of precision agriculture technologies continues to rise, there is a growing demand for advanced hardware solutions that offer higher accuracy, greater coverage, and improved durability.
The software includes farm management software platforms, data analytics algorithms, and mobile applications designed to streamline data management and improve farm productivity. With the increasing complexity and volume of data generated by crop monitoring devices, there is a growing demand for advanced software solutions that can handle data integration, analysis, and visualization effectively.
For instance, on February 6, 2024, CropX Technologies, a renowned provider of digital agriculture solutions, launched a new groundbreaking product in collaboration with Reinke Irrigation aimed at enhancing water management practices for farmers. This innovation leverages field-specific Evapotranspiration (ET) measurements to precisely monitor crop water usage.
Geographical Penetration
Growing Technological Innovations and a Strong Consumer Base in North America
North America has a strong and diverse agricultural sector, characterized by large-scale farming operations, high levels of mechanization, and a focus on maximizing yields and profitability. Farmers in the region are early adopters of new technologies that offer tangible benefits in terms of productivity, efficiency, and sustainability. The strong demand for crop monitoring devices from North American farmers contributes to the region's dominance in the global market.
North America is at the forefront of technological innovation, particularly in the agricultural sector. The region boasts advanced research and development capabilities, a robust infrastructure for technology deployment, and a culture of innovation and entrepreneurship. These factors contribute to the development and adoption of cutting-edge crop monitoring devices in North America, contributing to market dominance.
COVID-19 Impact Analysis
The pandemic disrupted global supply chains, leading to delays in the manufacturing and distribution of crop monitoring devices. Restrictions on international trade, temporary closures of manufacturing facilities, and disruptions in logistics and transportation networks affected the availability of components and finished products, leading to supply shortages and delays in fulfilling orders.
The COVID-19 pandemic altered demand dynamics for crop monitoring devices, with varying effects across different regions and sectors. While some farmers faced financial constraints and deferred investments in new technologies, others accelerated adoption to enhance operational efficiency and resilience. Additionally, the shift towards remote work and social distancing measures increased the demand for technologies that enable remote monitoring and management of agricultural operations.
For instance, on March 9, 2020, Valley Irrigation introduced a comprehensive platform designed to streamline data management, control, and sharing among growers' connected devices on the farm. Known as Valley 365, this cloud-based platform offers a single sign-on experience for connected crop management, consolidating various Valley technologies into one user-friendly interface.
Russia-Ukraine War Impact Analysis
The conflict led to disruptions in supply chains, particularly in Eastern Europe. Both Russia and Ukraine are significant exporters of agricultural commodities such as grains and oilseeds. The disruption in transportation routes and logistical challenges hindered the supply of raw materials and components necessary for manufacturing crop monitoring devices, affecting the global market.
The geopolitical tensions between Russia and Ukraine created market uncertainty and volatility, impacting investor confidence and business decisions. Uncertainty regarding the availability of agricultural products from the region, coupled with fluctuating commodity prices, influenced farmers' investment decisions in crop monitoring devices. This uncertainty dampened market growth and expansion efforts during the period of conflict.
Key Developments
- On June 8, 2023, PepsiCo India, a leading FMCG company, collaborated with Cropin, an agriculture cloud company, to introduce a crop intelligence platform focused on monitoring potato yields. This innovative platform features mobile app-compatible dashboards, providing farmers with user-friendly tools for monitoring their crops effectively.
- On October 5, 2023, Arya.ag, the largest and sole profitable grain commerce platform in India, partnered with Crystal Crop Protection Limited, a trailblazer in delivering inventive crop protection, seeds, and farming solutions. This partnership introduces a nationwide crop monitoring initiative across India, leveraging Arya.ag's cutting-edge satellite crop monitoring tool, "Prakshep."
- On February 17, 2023, FarmSense, an innovative agricultural technology startup, launched its new highly lauded real-time pest monitoring and identification device, FlightSensor. This initial rollout will include around 1,000 FlightSensor units, which will be distributed to handpicked commercial pest advisors, farm managers, and growers based in California.
Competitive Landscape
The major global players in the crop monitoring devices market include Deere & Company, AGCO Corporation, Raven Industries, Inc., Taranis, Agrisource Data, Dicke-John Corporation, Pessl Instruments, Mouser Electronics, Inc., Topcon, and AgJunction LLC.
Why Purchase the Report?
- To visualize the global crop monitoring devices market segmentation based on product type, application, and region, as well as understand critical commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous crop monitoring devices market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of critical products of all the major players.
The global crop monitoring devices market report would provide approximately 54 tables, 47 figures, and 213 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
