Global Smart Crop Monitoring Market
Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- 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
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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.
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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
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Soil Monitoring
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Weather Forecasting
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Yield Monitoring
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Crop Protection
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Others
The global smart crop monitoring market in the application segment is expected to be dominated by crop protection technologies. This is due 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
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Hardware
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Software
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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
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Sensing and Imagery
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Automation and Robotics
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Variable-Rate Technology (VRT)
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Guidance Technology