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LONDON, GREATER LONDON, UNITED KINGDOM, March 4, 2025 /EINPresswire.com/ -- The global Smart Crop Monitoring market is anticipated to surge from $3.47 billion in 2024 to $4.1 billion in 2025, expanding at a compound annual growth rate CAGR of 18.4%. The growth stems from mounting demand for enhanced crop production, the escalating global population, major advancements in IoT technology, the increasing necessity for sustainable agricultural practices, and rising regulatory pressures. Looking ahead, the market size is projected to grow to $7.97 billion by 2029, propelled by the advancement of automated irrigation systems, burgeoning farm-to-table movements, the rise of agricultural cooperatives and partnerships, and the focus on waste reduction in the supply chain, among others.
What Are The Factors Driving The Substantial Growth In The Smart Crop Monitoring Market?
The subsequent demand for food mid the growing global population and rising incomes are key factors expected to accelerate the growth of the smart crop monitoring market in the coming years. Smart crop monitoring is instrumental in food production, enhancing efficiency by offering real-time data on the health of crops, soil conditions, weather patterns, and resource utilization. This information assists farmers in making informed decisions on irrigation, pest control, and fertilization, optimizing yield, minimizing resource waste, and improving the quality of food produced. As an illustration, the US Department of Agriculture reported in April 2024 that the agriculture, food, and related industries contributed approximately $1.530 trillion to the US GDP in 2023, representing about 5.6% of the total output.
What Does The Future Of The Smart Crop Monitoring Market Hold?
The key players in the smart crop monitoring market, such as Microsoft Corporation, Robert Bosch GmbH, Airbus SE, International Business Machines Corporation, Deere & Company, Yara International, and CNH Industrial N.V., among others, are concentrating on AI-powered sensing technologies to gain a competitive advantage. This combines artificial intelligence with advanced sensors that can detect, analyze, and interpret data from the physical environment in real time. For example, in April 2023, Germany-based GeoPard Agriculture launched a cutting-edge analytics platform tailored for farmers. This platform provides features such as field mapping, variable rate application VRA maps, scouting tools, and data integration capabilities. It aims to assist farmers in optimizing their operations and enhancing productivity through data-driven decision-making.
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What Are The Segmented Sectors Within The Smart Crop Monitoring Market?
Type: Hardware; Software; Services
Technology: Sensing and Imagery; Variable-Rate technology VRT; Guidance Technology; Automation and Robotics
Applications: Soil Monitoring; Weather Forecasting; Yield Monitoring; Crop Protection; Other Applications
Hardware Subcategories: Sensors; Drones And UAVs Unmanned Aerial Vehicles; IoT Devices For Agriculture; Cameras And Imaging Systems
Software Subcategories: Crop Management Software; Data Analytics and Visualization Tools; Mobile Applications for Field Monitoring; Remote Sensing Software
Service Subcategories: Consulting and Advisory Services; Data Collection and Analysis Services; Training And Support Services; Customization And Integration Services
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How Does The Global Spread Look Like For The Smart Crop Monitoring Market?
In 2024, North America was the largest region in the smart crop monitoring market. Other covered regions include Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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