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11 Jan, 2022, 11:35 GMT
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SAN FRANCISCO, Jan. 11, 2022 /PRNewswire/ — The global agriculture sensor market size is estimated to reach USD 3.79 billion by 2028, according to the new report by Grand View Research, Inc. The market is projected to register a CAGR of 13.6% from 2021 to 2028. The growth is driven by factors such as rising acceptance of the IoT and AI by growers and farmers, increasing focus on livestock disease detection and monitoring, growing demand for fresh produce, reducing arable land, population growth, government support for precision farming practices, and increasing implementation of aquaculture feed optimization devices in developing countries.
Key Insights & Findings from the report:
Read 150 page market research report, "Agriculture Sensor Market Size, Share & Trends Analysis Report By Type, By Application (Dairy Management, Soil Management, Climate Management, Water Management, Smart Green House), By Region, And Segment Forecasts, 2021 – 2028", by Grand View Research
The emergence of advanced technologies such as guidance systems, variable rate technology, IoT, AI, and remote sensing has transformed agribusiness into a data-rich and technology-intensive industry. Smart agricultural technologies help increase profitability, protect the environment, improve sustainability, and minimize the consumption of resources such as fertilizers, water, and energy. IoT is implemented in precision aquaculture, precision agriculture, livestock monitoring, and smart greenhouse applications.
Various factors driving the growth of the market include increasing use of advanced monitoring solutions in agriculture, adoption of smart farming practices, and growing need to increase agricultural productivity. Agriculture sensors help obtain data to help farmers monitor and optimize crops and detect changes in environmental conditions. Manufacturers are focusing on developing sensor solutions that can be used on small farms. In addition, government support in major agricultural nations encourages the introduction of precision farming practices, which will help grow the agriculture sensor market. The increasing use of sensors in farm vehicles, machines, and farm management systems also stimulates the growth of the market. Moreover, the growing collaborations between various agrochemical companies create new opportunities for the market. However, agriculture sensors require significant investments in the early stage, which is expected to inhibit the growth of the market.
The global market for agriculture sensors is classified into North America, Asia Pacific, Europe, and the Rest of the World. North America is expected to have a dominant share of the market. The increasing adoption of smart and advanced farming methods in the U.S. contributes to the growth of the North America market. The Asia Pacific region is anticipated to register the fastest CAGR during the forecast period. The growing awareness about precision farming practices in the Asia Pacific region is driving the regional market growth. China and India have the highest growth in agriculture sensors due to the presence of largely agricultural land.
COVID-19 has disrupted the supply chain in the market, and companies are exploring new ways to interact with farmers and growers through technology. Companies have started to focus on wireless platforms to make real-time crop monitoring decisions, crop health monitoring, field mapping, irrigation planning, and crop management.
Grand View Research has segmented the global agriculture sensor market based on type, application, and region:
List of Key Players of the Agriculture Sensor Market
Check out more studies related sensors, published by Grand View Research:
Browse through Grand View Research’s coverage of the Global Sensors & Controls Industry.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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