The yield monitoring software market was valued at US$2.062 billion in 2021.
Yield monitoring software is a specialized tool designed to assist farmers and cultivators in improving their crop yields and lower agricultural waste. It collects data on various aspects of farming operations, such as soil quality, weather patterns, and crop performance, to provide valuable insights and recommendations for optimizing farming practices such as planting strategies, fertilizer usage, and irrigation techniques. The major applications of the yield software market include variety tracking, moisture tracking, and load tracking. In addition, the features of agricultural yield monitoring software vary depending on the specific software package. Still, features such as crop mapping, weather monitoring, soil analysis, yield analysis, and data visualization are commonly found across most software platforms. The yield analysis feature provides detailed information about crop yields, including historical data and predictions for future yields. The increasing demand for food fueled the growth of the population of several countries, favorable initiatives by certain governments, advancements in agriculture technology, and the rising concerns about the environmental impact of farming practices are significant factors expected to propel the growth of the yield monitoring software over the forecast period.Market Drivers
- Increasing developments in agricultural technology
- Rising prevalence of crop and yield loss
The limited data and lack of awareness of yield monitoring software could restrict the market's growth.
The effectiveness of yield monitoring software in providing valuable insights depends on the quality and quantity of data available. Therefore, farms that lack the necessary data collection infrastructure may not fully leverage the software's benefits. Further, the analysis provided by such software is based on historical data, which could be futile in the emergence of new types of pests and other harmful organisms. In addition, farmers' lack of awareness and training about the presence, benefits, and effective utilization of yield monitoring software restricts its growth across several developing economies. Hence, government and international organizations must implement training and education programs to ensure that farmers have the technical knowledge to utilize such software to its maximum capacity.Market Developments:
- In March 2023,Braiin Limited, an Australian company providing yield analysis and other agricultural services to farmers, entered into a business combination deal with Northern Revival Acquisition Corporation, specifically incorporated to implement various company transactions such as mergers, acquisitions, etc. This deal was executed at US$215 million to enable the transition of Braiin Limited into a public company.
- In August 2022,KisanHub, an agricultural technology company in the US, introduced new features to its yield and crop monitoring software, which will assist in marketing the load and yield extracted by farmers.
North America holds a substantial share of the yield monitoring software market and is expected to grow in the forecast period.
The abundance of IT infrastructure and the constant evolution in agricultural technology driven by the rising awareness of yield monitoring software in the region provides a market opportunity for the growth of North America's yield monitoring software market. In addition, the increasing adoption of AI and other advanced data analysis tools promotes the consumption and effectiveness of yield monitoring applications to ensure enhanced productivity in crop yields. Hence, North America's yield monitoring software market is expected to expand over the forecast period significantly.Market Segmentation:
By Application
- Variety Tracking
- Moisture Tracking
- Load Tracking
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Indonesia
- Others
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. YIELD MONITORING SOFTWARE MARKET BY APPLICATION
6. YIELD MONITORING SOFTWARE MARKET BY GEOGRAPHY
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
8. COMPANY PROFILES
Companies Mentioned
- Ag Leader Technology
- Green Growth
- Topcon
- FlyPard Analytics GmbH.
- Agremo
- Pessl Instruments
- Trimble Inc.
- Semios
- Integreater® Software
Methodology
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