The increasing usage of sensors in precision farming, the rising collaboration of agritech companies with sensors providers, government support to promote modern agriculture farming techniques, increasing focus on livestock monitoring and disease prevention for improvising farm output are the factors which drives the market for agricultural sensors industry.
According to the current analysis of Reports and Data, the global Agricultural Sensors market was valued at USD 1,505.4 Million in 2020 and expected to reach USD 3,200.8 Million by the year 2028 at a CAGR of 11.04%. The sensing technologies are used in precision agriculture, providing data that helps farmers monitor and optimize crops, as well as to adapt to changing environmental factors. This provides actionable data to be processed and implemented as a need be to maximize crop yield while minimizing environmental effects.
The global agricultural sensors market is experiencing significant growth due to several key factors. The adoption of precision farming techniques and increasing collaborations between agrochemical companies and sensor providers are driving the growth of this market. The use of sensing technologies in precision agriculture is helping farmers to monitor and optimize crops, as well as to adapt to changing environmental factors. This is providing actionable data that can be processed and implemented to maximize crop yield while minimizing environmental effects.
However, the growth of the agricultural sensors market is also facing some challenges. The volatile commodity prices are often a hindrance to the adoption of new technologies in agriculture, including agricultural sensors. The initial investment cost of agricultural sensors can be relatively high, which can be a barrier to adoption for some farmers.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Despite these challenges, the agricultural sensors market is expected to continue to grow at a significant pace in the coming years. The increasing adoption of advanced technologies in various agriculture applications such as precision farming, smart greenhouse, fish farm monitoring, and livestock monitoring is expected to be a key driver of this growth.
Competitive Landscape:
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
Auroras, Agsmarts Inc., Irrometer Company Inc., Stevens Water Monitoring Systems Inc., Delta-T Devices Ltd, Spectrum Technologies Inc., Sentek Ltd, Aquaspy Inc., and CropX, among others.
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The global market is further segmented into type and application:
Sensor Type (Revenue, USD Million; 2018–2028)
- Location
- Humidity
- Electrochemical
- Mechanical
- Airflow
- Optical
- Pressure
- Water
- Soil
- Livestock
Application (Revenue, USD Million; 2018–2028)
- Dairy Management
- Soil Management
- Climate Management
- Water Management
- Precision Farming
- Smart Green House
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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