The global agriculture sensors market size was US$ 1.6 billion in 2021. The global agriculture sensors market is projected to grow to US$ 4.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 11.4% during the forecast period from 2022 to 2030.
Agricultural sensors are used in contemporary farming, such as precision farming. It helps offer information to the farmers so that they can efficiently monitor and optimize crops and modify plans according to the changing environmental circumstances. These sensors have a specific process to operate.
Factors Influencing the Market
The growing penetration of smart technologies in the agriculture sector will drive the growth of the agriculture sensors market during the study period. Technologies in the agriculture sector can efficiently help farmers boost productivity and decline overhead labour. Apart from that, it also reduces the cost of labour, which will benefit the agriculture sensors market during the forecast period.
Some of the causes that restrict agriculture include the depletion of natural resources and environmental degradation. Farmers are encouraged to concentrate on sustainable agricultural methods like resource conservation as a result of growing environmental concerns. Thus, it will bring lucrative growth opportunities for the agriculture sensors market in order to increase crop nutrition and protection.
On the flip side, lack of knowledge about agriculture sensors may limit the growth of the agriculture sensors market during the study period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the demand for agriculture sensors decreased. Moreover, the pandemic notably affected the supply chain in the market during the initial phase. However, companies started to explore new ways to interact with farmers, which escalated the range of innovations in the market. Wireless platforms gained substantial traction to monitor crops and make decisions according to the conditions. Thus, the COVID-19 pandemic opened doors of opportunities for the agriculture sensors market.
Regional Analysis
North America is expected to dominate the agriculture sensor market, owing to the rising contribution of countries like the United States and Canada. Further, the rising population of the region and growing adoption of smart agricultural practices are expected to benefit the overall agriculture sensors market during the study period. Apart from that, factors like reducing labour levels, consolidating farms, and high demand for productivity in the region are forecast to accelerate the growth of the agriculture sensors market during the study period.
Competitors in the Market
• American Sensor Technologies, Inc.
• Automata, Inc., (U.S.)
• Avir Sensors, (U.S.)
• BioForce Nanosciences Holdings, Inc., (U.S.)
• Coastal Environmental Systems, Inc., (U.S.)
• E.S.I. Environmental Sensors Inc., (Canada)
• Measurement Specialties Inc., (U.S.)
• MEMSIC Inc., (U.S.)
• Meridian Environmental Technology, Inc., (U.S.)
• STMicroelectronics N.V., (Switzerland)
• Sutron Corporation, (U.S.)
• The Toro Company, (U.S.)
• Other Prominent Players
Market Segmentation
The global agriculture sensors market segmentation focuses on Technology, Offerings, and Region.
By Technology Type
• Yield monitoring and mapping
• Soil monitoring
• Disease control & detection
• Irrigation
• Water management
By Offerings
• Hardware-Sensors
• GPS
• Yield Monitors
• Software
• Services
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America