Agriculture Sensor Market Size Worth $3.79 Billion By 2028: Grand View Research, Inc.

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:

• Asia Pacific region is estimated to register the highest CAGR during the forecast period owing to increasing awareness regarding the usage of soil moisture sensors among farmers
• The market witnessed a small dip in 2020 due to the COVID-19 pandemic, as movement restrictions and lockdowns have led to supply chain disruptions and a lack of equipment
• Agriculture sensor technology eliminates manual human effort by automating critical processes, including real-time farm monitoring and information sharing
• The location sensor segment accounted for the largest revenue share in 2020
• Sensor prices have dropped significantly in the course of technological advancement in recent years

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.

Market Segmentation:

Grand View Research has segmented the global agriculture sensor market based on type, application, and region:

• Agriculture Sensor Type Outlook (Revenue, USD Million, 2017 - 2028)
• Location Sensors
• Humidity Sensors
• Electrochemical Sensors
• Mechanical Sensors
• Airflow Sensors
• Pressure Sensors
• Optical Sensors
• Water Sensors
• Soil Moisture Sensors
• Capacitance Sensors
• Probes
• Time-domain Transmissometry (TDT) Sensors
• Gypsum Blocks
• Tensiometers
• Granular Matrix Sensors
• Livestock Sensors
• Agriculture Sensor Application Outlook (Revenue, USD Million, 2017 - 2028)
• Dairy Management
• Soil Management
• Climate Management
• Water Management
• Smart Green House
• Others
• Agriculture Sensor Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• Japan
• Australia
• India
• South America
• Brazil
• Middle East and Africa (MEA)

List of Key Players of the Agriculture Sensor Market

• auroras Srl Cso Piera Cillario
• Caipos GmbH
• CropIn Technology Solutions Private Limited
• CropX inc.
• dol-sensors A/S
• Glana Sensors AB
• Libelium Comunicaciones Distribuidas S.L.
• Monnit Corporation
• pycno agriculture
• Sensaphone
• Sensoterra
• Sentera
• Texas Instruments Incorporated

Check out more studies related sensors, published by Grand View Research:

• Gas Sensor Market – The global gas sensor market size was valued at USD 2.33 billion in 2020. It is expected to expand a compound annual growth rate (CAGR) of 8.7% from 2021 to 2028. The growing need to monitor air quality in enclosed spaces, such as offices, homes, classrooms, and other indoor areas, is expected to drive the growth of the market.
• Collision Avoidance Sensors Market – The global collision avoidance sensors market size was valued at USD 4.39 billion in 2017 and is anticipated to exhibit a CAGR of 21.2% from 2018 to 2025. Due to increasing developments in the fields of camera, LiDAR, radar, and ultrasound technologies, the market has witnessed rapid growth over the past few years.
• Wearable Sensors Market – The global wearable sensors market size was valued at USD 149.3 million in 2016. Sensors are a vital aspect in wearable devices used by consumers owing to an increased focus on tracking real-time motion sensing activities. This is likely to propel industry growth.

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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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