Smart Crop Monitoring Market Is Slated To Witness Tremendous Growth In Future

Smart Crop Monitoring Market Summary

The global smart crop monitoring market size was estimated at USD 2.31 billion in 2023 and is projected to reach USD 5.77 billion by 2030, growing at a CAGR of 14.1% from 2024 to 2030. The agriculture sector is undergoing a rapid transformation with the integration of smart technologies, particularly in crop monitoring. Smart crop monitoring is becoming increasingly important as farmers and agribusinesses seek to improve efficiency, enhance productivity, and ensure sustainability in farming operations. These systems leverage IoT, sensors, drones, and satellite imagery to provide real-time data that helps optimize crop management.

According to an article published by the United Nations Department of Economic and Social Affairs, the global population is projected to reach 9.8 billion by 2050, which will lead to a substantial increase in food demand. To meet this rising demand, advanced technologies must be adopted to maximize crop yields, minimize resource wastage, and safeguard global food security. Smart crop monitoring technologies play a crucial role in addressing these challenges by enabling precision farming, improving resource utilization, and providing actionable insights for better decision-making.

Key Market Trends & Insights

• North America dominated the smart crop monitoring market with the largest revenue share of 31.31% in 2023, supported by high adoption of precision agriculture technologies, well-established infrastructure, and favorable government initiatives.
• The Asia Pacific market is expected to grow at the fastest CAGR of 15.4% from 2024 to 2030, driven by rising population, expanding agricultural practices, and increasing adoption of smart farming solutions in countries such as China and India.
• The smart crop monitoring market in Europe is projected to grow at a notable CAGR of 13.7% from 2024 to 2030, influenced by strong sustainability goals, supportive policies, and the adoption of advanced agricultural practices to boost productivity.
• Based on type, the hardware segment led the market with the largest revenue share of 57.7% in 2023, as devices such as sensors, drones, and monitoring systems form the foundation of smart crop monitoring solutions.
• In terms of technology, the sensing and imagery segment dominated the market with a revenue share of 34.78% in 2023, driven by the increasing use of remote sensing, satellite imagery, and drone-based monitoring to deliver accurate data on crop health and field conditions.

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Market Size & Forecast

• 2023 Market Size: USD 2.31 Billion
• 2030 Projected Market Size: USD 5.77 Billion
• CAGR (2024-2030): 14.1%
• North America: Largest market in 2023
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Some of the key companies operating in the global market include AGCO Corporation, CLAAS Group, Climate LLC, Deere & Company, Microsoft Corporation, Prospera Technologies, Raven Industries Inc., Robert Bosch GmbH, Small Robot Co., and Trimble Inc., among others.

• Deere & Company, engaged in the manufacturing of agricultural equipment. The company has invested heavily in precision agriculture, leveraging IoT, AI, and data analytics to develop smart crop monitoring tools. Furthermore, the company has formed strategic partnerships and made acquisitions to strengthen its position in the market

Small Robot Co. and Raven Industries Inc. are some of the emerging companies in the target market.

• Small Robot Co. is a U.K.-based company offering agricultural services. The company has developed a suite of agricultural robots designed to monitor, map, and manage crops on a pre-plant basis. The company’s products use advanced AI and machine learning to provide precision monitoring and treatment, which significantly reduces the need for pesticides and fertilizers

Key Players

• AGCO Corporation
• CLAAS Group
• Climate LLC
• Deere & Company
• Microsoft Corporation
• Prospera Technologies
• Raven Industries Inc.
• Robert Bosch GmbH
• Small Robot Co.
• Trimble Inc.

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Conclusion

The smart crop monitoring market is witnessing rapid growth as the agricultural sector embraces digital transformation to meet the rising global food demand. With the integration of IoT, sensors, drones, and satellite-based tools, farmers are able to achieve higher yields, reduce losses, and adopt more sustainable practices. North America continues to lead due to advanced infrastructure, while Asia Pacific is expected to experience the fastest growth fueled by population expansion and increasing adoption of precision agriculture. Looking ahead, smart crop monitoring will play a pivotal role in ensuring global food security, promoting sustainability, and transforming traditional farming into data-driven, technology-enabled agriculture.