Agriculture is vital for every economy as the food supply chain starts from agriculture and the Crop Monitoring Technology in Precision Farming allows monitoring of the field, soil, crops, productivity and thereby precisely allows to keep a watch on the agricultural productivity. This is one of the facets of the adoption of modern technology in the agricultural sector also. It is also known as satellite farming. Some others identify it as site-specific crop management. There is pressure upon the natural resources as the demand for food increases due to rapid growth in population. Thus, any government needs to keep a check on the food productivity of the nation. To ensure the productivity of food, such initiatives are taken to keep a track on the growth and yield of the crops and also to take remedial action if the production sustains any damage due to weather condition or other environmental conditions such as floods or droughts or low fertility of the soil.
A government should take such initiatives as if the agricultural production is low or nil in any country, food contributes to being a major cost of living as the government would then be required to import the food from other countries which are agrarian.
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The noted participants of the market have been studied in details in this report for covering an in-depth share analysis of the Crop Monitoring Technology in Precision Farming market. The analysis includes an assessment of the growth strategies implemented by these players in the market. Some of these strategies are mergers & acquisition, collaboration, rising investments, partnership, product portfolio development, etc. In addition, the increasing research & development activities are further expected to impact the growth of the Crop Monitoring Technology in Precision Farming market favorably in the forthcoming years
Topcon Positioning Systems
Crop Monitoring Technology refers to data transfer by use of sensors in the farm. Use of such telematics help the farmers in better management of their farms and thereby prevent the loss of productivity. The drones are even used to see if there is a bacterial attack to the plants or the soil is improper for cultivation. The drone shows a clear picture of what is the status of the crop field, and thereby, the defect may be cured by using remedial measures. Though such use of technology is beneficial, the cost of the technology or less awareness amongst the farmers will act as a deterrent in the field of Precise Farming using Crop Monitoring Technology.
Agriculture is a sector wherein almost every country invests. The major region where the Crop Monitoring Technology is followed is Europe comprising UK, Russia, Italy, Germany, and France; South America comprising Brazil, Africa; Asia Pacific Region comprising China, Japan, Singapore, Australia India; North America and the Middle East.
The Global Crop Monitoring Technology in Precision Farming Market can be divided into multiple segments. The segment varies based on technology, solution, and application. The first segment, i.e., technology, can be bifurcated into Remote sensing technology, VRT, and it also adds guidance system. The second segment based on the solution is bifurcated into primarily Hardware, secondly software, and service. The third segment, which is an application, is bifurcated into monitoring crop productivity, monitoring soil variants, and mapping of crops.
The Global Crop Monitoring Technology in Precision Farming expects CAGR at 12.6% between 2019-2024. The market is expected to grow from 4.84 billion USD in 2018 to 10.16 billion USD by 2024.
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