Crop Monitoring Global Market Report 2024

Crop monitoring refers to the routine and thorough examination of crops that aids in the management of various pests, weeds, or illnesses in crops. It plays a significant part in the management of many pests, weeds, and illnesses in crops. This gives you knowledge about the crop's current situation, allowing you to project into the future and determine what the crop's most likely next problem will be.

The main types of offerings in crop monitoring are hardware, software, and services. Hardware refers to devices used in capturing data for actionable insights to manage all the operations on the farm, both pre-harvest and post-harvest. The different farm types using crop monitoring are small-sized farms, medium-sized farms, and large-sized farms. The various crop monitoring technologies include variable-rate technology, sensing and imagery, automation and robotics, which are used in applications such as field mapping, crop scouting and monitoring, soil monitoring, yield mapping and monitoring, variable rate application, weather tracking and forecasting, and others.

The crop monitoring market research report is one of a series of new reports that provides crop monitoring market statistics, including global crop monitoring industry and regional shares, competitors with a crop monitoring market share, detailed crop monitoring market segments, market trends and opportunities, and any further data you may need to thrive in the crop monitoring industry. This crop monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The crop monitoring market size has grown rapidly in recent years. It will grow from $2.86 billion in 2023 to $3.32 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increasing need for food security, environmental concerns, government initiatives, data analytics and ai.

The crop monitoring market size is expected to see rapid growth in the next few years. It will grow to $5.97 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to precision agriculture adoption, climate change mitigation, growing demand for organic farming. Major trends in the forecast period include market expansion, integration with iot and big data, partnerships and collaborations, ai and machine learning, farm-to-table traceability.

The increasing adoption of Internet of Things (IoT) devices is expected to propel the growth of the crop monitoring market going forward. IoT devices refer to physical objects or devices that are embedded with sensors, software, and connectivity capabilities to collect and exchange data over the internet. Internet of Things (IoT) devices are used for crop monitoring as a transformative approach that leverages technology to enhance agricultural practices and crop management for farmers to make informed decisions, optimize resource use, and maximize crop yield. For instance, in April 2022, according to the CRO Forum (2022), a Netherlands-based high-level discussion group of risk managers published an IoT risk from an insurance perspective. It is anticipated that it will reach 24.1 billion IoT devices by 2030. Additionally, in March 2023, according to Exploding Topics, a US-based online platform that provides insights into emerging and trending topics, it is anticipated that by 2030, there will be 25.4 billion IoT devices. Therefore, the increasing adoption of Internet of Things (IoT) devices is driving the growth of the crop monitoring market.

The high demand for food crops is expected to propel the growth of the crop monitoring market going forward. Food crops refer to the cultivation and growth of plants with the sole objective of providing food for human consumption. Crop monitoring is used for the management of pests, weeds, and illnesses in crop. For instance, in October 2023, according to a report published by the Government Digital Service, a UK-based cabinet office, the UK produced 24 million metric tons of wheat, barley, oats, and oilseed rape in 2022, an increase of 8.5% from 2021. Therefore, the high demand for food crops is driving the growth of the crop monitoring market.

Major companies operating in crop monitoring market are innovating new technology, such as robots, to provide reliable services to customers. The autonomous crop monitoring robot designed to provide real-time insights into the fields, working plant-by-plant to balance production and efficiency. For instance, in May 2022, Solinftec, a Brazil-based ag-tech company, launched Solix. The Solix robot is solar-powered and equipped with lithium-ion batteries for energy storage. The Solix robot contains an onboard camera and sensors paired with artificial intelligence (AI) technology to monitor plant health, detect insect damage, and detect changes in the field.

Major companies operating in crop monitoring market are innovating new solutions, such as the crop monitoring system, to provide reliable services to customers. A crop monitoring system is a system designed to provide farmers with real-time data on variables such as field monitoring, weather data, crop classification, and yield prediction to be used in decision-making. For instance, in September 2022, TelOne, a Zimbabwe-based telecommunications company, launched a crop monitoring system. This crop monitoring system allows farmers to remotely monitor their fields. This system provides increased yields, enhances crop quality and quantity, and optimizes human labor.

In August 2021, CropX Inc., an Israel-based company that provides farm management software, acquired Dacom Farm Intelligence B. V. for an undisclosed amount. With this acquisition, CropX Inc. aims to expand crop protection capabilities and significantly increase its number of farms and total service area. Dacom Farm Intelligence B. V. is a Netherlands-based company that provides crop monitoring technology and sensor equipment.

Major companies operating in the in the crop monitoring market report are Topcon Corporation, Trimble Inc., The Climate Corporation (a subsidiary of Bayer AG), Yara International ASA, CropX Technologies Inc., Cropio LLC, Earth Observing System Inc., PrecisionHawk Inc., Ag Leader Technology Inc., Taranis-Visual Ltd., Monsanto Company., Deere & Company, AGCO Corporation, Kasco Manufacturing Co. Inc., Davimac Manufacturing Pty Ltd., Kubota Corporation, Iteris Inc., Farmers Edge Inc., Granular Inc., Sentera LLC, SlantRange Inc., MicaSense Inc., Gamaya SA, AgEagle Aerial Systems Inc., Resson Aerospace Corporation, EOS Data Analytics Inc., Teralytic Inc., Arable Labs Inc., FieldIn Ltd., CropMetrics LLC, Ripe Technology Inc., Terranis Systems GmbH, Hummingbird Technologies Limited, Agribotix LLC, CropIn Technology Solutions Pvt. Ltd., agriXP Inc.

North America was the largest region in the crop monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crop monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the crop monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The crop monitoring market includes revenues earned by entities by managing multiple fields, maintaining crops health, and boosting yields. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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