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Agriculture Sensor Market Future Forecast Indicates Impressive Growth Rate until 2022-2030

May 12, 2022 (Profound knowledge via Comtex) --

[150+ Pages Report] According to Vision Research Report, during the forecast period of 2022 to 2030, the global Agriculture Sensor market is estimated to develop at a compound annual growth rate (CAGR) of 14.6%. The global Agriculture Sensor market size was valued at USD 2.24 billion in 2020, and it is predicted to exceed USD 6.79 billion by 2030. The study investigates several elements and their consequences on the growth of the Agriculture Sensor market.

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Growth Factors

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.

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.

By Type Analysis

The location sensor segment accounted for the largest revenue share of more than 13.0%, contributing revenue of USD 183.59 million in 2020. Location sensors use GPS satellite signals for determining topographic attributes, including latitude, longitude, and altitude of the required field area.

Soil moisture sensors are anticipated to register the highest growth by 2028. Increasing the adoption of soil moisture sensors by the agriculture sector to improve the farm's productivity and reduce water consumption is expected to drive market growth over the forecast period.

Capacitance sensors, probes, and time-domain transmissometer (TDT) sensors are different volumetric sensors available in the market. Capacitive sensors measure the moisture level in the soil through capacitive sensing rather than resistive sensing.

By Application Analysis

The soil management application segment dominated the market with a revenue share of approximately 24% in 2020. Moreover, the segment is also anticipated to register the second-highest CAGR of 14.1% from 2021 to 2028. Soil management is of utmost importance for optimum plant growth and yield.

The data gathered through these sensors is transferred to mobile devices, enabling farmers to take immediate action. Moreover, the increasing use of sensors in agricultural lands has helped farmers reduce water consumption and increase overall food production.

Sensor prices have dropped significantly in the course of technological advancement in recent years. This closely follows other trends, such as falling prices for computers, cameras, and televisions, as reported by the Bureau of Labor Statistics.

By Regional Analysis

North America dominated the market in 2020, accounting for approximately 46% of the total revenue share. The dominance can be credited mainly to the relatively greater adoption of sensors across the agriculture segments.

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.

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Some of the prominent players in the Agriculture Sensor market include:

  • 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

Market Segmentation

  • By Type
    • 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
  • By Application
    • Dairy Management
    • Soil Management
    • Climate Management
    • Water Management
    • Smart Green House
    • Others

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Reasons to Purchase this Report:

  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
  • Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
  • The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
  • Provides insight into the market through Value Chain
  • Market dynamics scenario, along with growth opportunities of the market in the years to come

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