New York, Aug. 01, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “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” – https://www.reportlinker.com/p06310920/?utm_source=GNW
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.
• 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.
• 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.
Impact of COVID-19
In the wake of the pandemic, labor shortages have caused disruptions in the agricultural processes, thereby leading every country to re-emphasize food security and increase domestic food production.With an aim to solve labor shortages, the increased application of automated technologies such as sensors, data analytics, variable-rate technology, and others have been introduced in the production system.
Each country continued to promote policies on increasing the adoption of smart crop monitoring techniques, which have proved to be the appropriate solution.
Segmentation 1: by Application
• Soil Monitoring
• Weather Forecasting
• Yield Monitoring
• Crop Protection
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.
Segmentation 2: by Type
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.
Segmentation 3: by Technology
• Sensing and Imagery
• Automation and Robotics
• Variable-Rate Technology (VRT)
• Guidance Technology
The automation and robotics segment dominates the global smart crop monitoring market due to the higher adoption of products such as robots, drones, and unmanned aerial vehicles (UAV).
Segmentation 4: by Region
• North America – U.S., Canada, and Mexico
• Europe – Italy, Germany, Spain, France, and Rest-of-Europe
• Asia-Pacific – Japan, India, Australia, and Rest-of-Asia-Pacific
• Middle East and Africa – Saudi Arabia, South Africa
• South America – Brazil, Argentina, Rest-of-South America
North America generated the highest revenue of $701.88 million in 2021, which is attributed to the R&D advancements and supporting government regulations in the region. Europe is an attractive region for the smart crop monitoring market because of the availability of the different market fragments.
Recent Developments in Global Smart Crop Monitoring Market
• In February 2022, Airbus S.A.S and Intelinair partnered to provide Airbus S.A.S’ accurate and satellite-based imagery data to Intelinair’s platform, AGMRI, which is an AI-based crop analytics platform. This would aid in providing farmers with accurate images and data of their fields throughout the crop production cycle.
• In January 2022, iTree Consulting & Services and AGRIVI partnered to bring digital agriculture solutions to farmers and agri-food value chain stakeholders in Mexico.
• In May 2021, AGCO Corporation collaborated with Robert Bosch GmbH, BASF Digital Farming GmbH, and Raven Industries Inc. to innovate and develop precision spraying and variable-rate technologies in the agricultural fields. The collaboration is aimed to make crop protection products more efficient by reducing input costs.
• In March 2021, MAM and Kubota Corporation partnered, aiming to provide agricultural equipment, services, and solutions to Japan.
• In March 2021, CNH Industrial N.V. partnered with ML6 to help transfer an algorithm to a multi-faceted camera. ML6 helped economize and optimize the algorithm and help get it implanted by working with the camera provider, CNH Industrial N.V.
Demand – Drivers and Limitations
Following are the demand drivers for the smart crop monitoring market:
• Need to Reduce Crop Losses
• Higher Yields as Compared to Conventional farming
• Government Support and Initiatives for Smart Crop Monitoring Equipment
The market is expected to face some limitations too due to the following challenges:
• Cyber and Online Data Security
• Lack of Connectivity and Technical Awareness
• High Set-Up Costs
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of smart crop monitoring technologies available for deployment in the agriculture sector and their potential globally.Moreover, the study provides the reader with a detailed understanding of different smart crop monitoring products by application (soil monitoring, weather forecasting, yield monitoring, crop protection, and others), by types (hardware, software, and services), and by technology (sensing and imagery, automation and robotics, variable-rate technology, and guidance technology).
Crops produced by the utilization of smart crop monitoring technologies generate higher revenues when compared to conventional equipment.
Growth/Marketing Strategy: The global smart crop monitoring market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture.The favored strategy for the companies has been product partnerships, joint ventures, and product launches to strengthen their position in the smart crop monitoring market.
For instance, in December 2021, Ceres Imaging announced to offer new soil moisture probes as part of its precision irrigation subscription service to farmers in California.
Competitive Strategy: Key players in the global smart crop protection market analyzed and profiled in the study involve smart crop monitoring manufacturers that provide different products.Moreover, a detailed competitive benchmarking of the players operating in the global smart crop monitoring market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The top segment players leading the market include variable-rate technology (VRT) and automation and robotics, which capture around 52% of the presence in the market. Players in other technologies, such as sensing and imagery and guidance technology, account for approximately 48% of the presence in the market, as of 2021.
Some of the prominent names established in this market are:
Company Type 1: Sensing and Imagery
• Ceres Imaging
• CNH Industrial N.V.
• CropIn Technology Solutions Private Limited
• Deere & Company
• PrecisionHawk, Inc.
• Prospera Technologies
• Climate LLC
Company Type 2: Automation and Robotics
• Kubota Corporation
• Raven Industries Inc.
• Robert Bosch GmbH
• Small Robot Company
• Trimble Inc.
Company Type 3: Guidance Technology
• Alibaba Group Holding Limited
• IBM Corporation
• Microsoft Corporation
Company Type 4: Variable-Rate Technology (VRT)
• AGCO Corporation
• CLAAS KGaA mbH
• Granular, Inc.
• North America
• South America
• Rest-of-South America
• Middle East and Africa
• Saudi Arabia
• South Africa
Read the full report: https://www.reportlinker.com/p06310920/?utm_source=GNW
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