Agricultural Sensors Market Size Will Reach Nearly USD 3,200.8 Million by 2028 | Reports and Data
According to the current analysis of Reports and Data, the global Agricultural Sensors market was valued at USD 1,505.4 Million in 2020 and expected to reach USD 3,200.8 Million by the year 2028 at a CAGR of 11.04%. The sensing technologies are used in precision agriculture, providing data that helps farmers monitor and optimize crops, as well as to adapt to changing environmental factors. This provides actionable data to be processed and implemented as a need be to maximize crop yield while minimizing environmental effects. Here are a few of the ways that precision farming takes advantage of this data yield monitoring, yield mapping, variable rate fertilizer, weed mapping, variable spraying, salinity mapping, guidance systems. The key factors which drive the growth of the market include the growing use of agricultural sensors in precision agriculture, increasing partnerships among the agrochemical companies, and agricultural sensor providers. Significant factors are contributing to the progress of the smart agriculture industry, such as the increasing adoption of advanced technologies in various agriculture applications such as precision farming, smart greenhouse, fish farm monitoring, livestock monitoring. Changing weather patterns due to growing global warming has urged the adoption of advanced farming technologies to enhance farm productivity and crop yield. The primary factor which back force the industry growth is due to volatile commodity prices which confuse the farmers for the adoption of sensors in agriculture. The adoption of any new technology in agriculture is often dependent on agricultural commodity prices. With highly fluctuating commodity prices in recent times, farmers are often skeptical toward adopting advanced technologies, such as agricultural sensors, which usually have an initial and somewhat larger investment cost.
North America expected to be the fastest-growing market. In North America, the adoption of soil moisture sensors has rapidly increased, over the past five years, for the conservation of water and timely irrigation in farms. Soil moisture instruments used in the sports turf segment for more efficient monitoring and conversion of turfgrass. Studies indicate that the adoption of these devices helps farmers to minimize drought stress, as well as to reduce the maintenance and labor cost of protected cultivation by 20%, at least.
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The increasing usage of sensors in precision farming, the rising collaboration of agritech companies with sensors providers, government support to promote modern agriculture farming techniques, increasing focus on livestock monitoring and disease prevention for improvising farm output are the factors which drives the market for agricultural sensors industry.
Key participants include Auroras, Agsmarts Inc., Irrometer Company Inc., Stevens Water Monitoring Systems Inc., Delta-T Devices Ltd, Spectrum Technologies Inc., Sentek Ltd, Aquaspy Inc., and CropX, among others.
Further key findings from the report suggest
- The Agricultural Sensors market is growing at a CAGR of 20 % in the Asia Pacific, followed by Latin America and Europe. The industry growth in this region supported by the introduction of cheaper and superior quality sensors and the government incentives for supporting smart agriculture techniques in the country for better yield in satisfying the growing population
- North America embodies the largest regional market. The U.S. is the early adopter of precision farming technologies, which is the primary factor responsible for the region’s most significant share in the global industry. Also, considerable acceptance of modern agriculture methods in Canada is contributing to industry growth. In developed regions, precision farming is rapidly gaining recognition from the farmer and commercialized from good science.
- Based on type, the Soil moisture segment expected to dominate the industry. The factors which contribute to the growth of these sensors are supported by water scarcity, increasing government restriction on the usage of water, lack of drinking water, among others.
- With the growing global population, the need for meat is also increasing. According to CEMA, the global industry for meat expected to rise by 40% over the next 15 years, owing to the growing population and increasing consumption of protein-rich diets. Conferring to the United Nations Food and Agriculture Organization (FAO), technology solutions in agricultural and livestock production systems would play a pivotal role in ensuring an adequate food supply for an expected population of 9.7 billion by 2050.
- Big data anticipated to have a significant effect on smart farming and involves in every stage of the food supply chain. Smart devices such as sensors deliver a large amount of data with unprecedented decision-making capabilities. As more and smarter devices and detectors mounted on the farms, agriculture practices will become data increasingly have driven and data-enabled. Big data expected to cause significant shifts in transforming the agriculture industry.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/agricultural-sensors-market
For the purpose of this report, Reports and Data has segmented the Agricultural Sensors market based on Type, Application and region:
Sensor Type (Revenue, USD Million; 2018–2028)
Application (Revenue, USD Million; 2018–2028)
- Dairy Management
- Soil Management
- Climate Management
- Water Management
- Precision Farming
- Smart Green House
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Regional Outlook (Revenue in USD Million; 2018–2028)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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