PUBLISHER: The Business Research Company | PRODUCT CODE: 1499766
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499766
Agriculture imaging sensors are specialized equipment utilized within the agricultural sector to capture visible, near-infrared, multispectral, and hyperspectral images. These sensors play a pivotal role in modern farming practices by providing valuable information and insights that aid farmers in maximizing crop yield, reducing input costs, and fostering sustainability.
The primary product types of agriculture imaging sensors include red, green, and blue sensors, hyperspectral sensors, multispectral sensors, among others. Multispectral sensors are capable of capturing data across multiple unique spectral bands, enabling the examination of various surface characteristics and properties. These sensors find application in diverse areas such as dairy management, soil management, climate management, water management, smart greenhouses, among others. They are utilized by various stakeholders including agriculture robot manufacturers, agriculture drone manufacturers, livestock monitoring equipment manufacturers, and others.
The agriculture imaging sensor market research report is one of a series of new reports from The Business Research Company that provides agriculture imaging sensor market statistics, including agriculture imaging sensor industry global market size, regional shares, competitors with an agriculture imaging sensor market share, detailed agriculture imaging sensor market segments, market trends, and opportunities, and any further data you may need to thrive in the agriculture imaging sensor industry. This agriculture imaging sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The agriculture imaging sensor market size has grown rapidly in recent years. It will grow from $1.09 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth observed in the historical period can be attributed to several factors, including a heightened demand for data-driven decision-making in agriculture, concerns regarding global food security, and the integration of agriculture imaging sensors with digital agriculture platforms.
The agriculture imaging sensor market size is expected to see rapid growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The anticipated growth in the forecast period can be attributed to several factors, including the expansion of precision agriculture practices, increasing demand for sustainable agriculture solutions, ongoing digital transformation within the agricultural sector, and rapid urbanization accompanied by changes in land use. Significant trends expected in this period include the integration of agriculture imaging sensors with artificial intelligence (AI) and machine learning technologies, the adoption of drone-based sensing solutions, the implementation of cloud-based data management and analytics platforms, a heightened focus on sustainability and climate resilience, and the emergence of new applications in agricultural technology (agtech).
The rising adoption of precision agriculture is expected to drive the growth of the agriculture imaging sensor market in the foreseeable future. Precision agriculture involves leveraging advanced technology and data analytics to manage agricultural production meticulously, aiming to optimize crop yield through precise management practices. This adoption trend is driven by various factors, including the increasing demand for food and agricultural products due to a growing global population. Agricultural imaging sensors play a crucial role in enabling precision agriculture by providing farmers with immediate and comprehensive field data, empowering them to make informed decisions and enhance resource management efficiency. For example, GeoPard Agriculture reported in August 2023 that the adoption of precision agriculture practices showed gradual growth, starting at 25% in 2021 and rising to 27% in 2022. Consequently, the increasing adoption of precision agriculture is fueling the growth of the agriculture imaging sensor market.
Key players in the agriculture imaging sensor market are concentrating on developing innovative solutions, such as tractor-mounted sensors, to gain a competitive advantage. Tractor-mounted sensors in agriculture imaging are specialized devices or equipment attached to tractors, designed to collect various types of data and imagery related to agricultural fields and crops. For instance, Aurea Imaging launched TMS TreeScout in October 2023, a revolutionary solution for precision orchard management. TMS TreeScout is the world's first fully integrated tractor-mounted sensor powered by AI and 3D computer vision technology, offering advanced capabilities such as tree scanning, blossom mapping, vigor scoring, and precision thinning, thereby transforming precision orchard management practices.
In August 2021, CropX acquired Dacom Farm Intelligence to enhance its farm management solutions. The acquisition aligns with CropX's vision of providing comprehensive farm management solutions, integrating active irrigation technology, self-calibrating moisture and chemical sensors, soil data, fertilizer management, and crop protection capabilities. Dacom Farm Intelligence, based in the Netherlands, specializes in agricultural sensors and software aimed at optimizing crop quality, contributing to CropX's expansion and innovation in the agriculture imaging sensor market.
Major companies operating in the agriculture imaging sensor market are Topcon Corporation, BASF SE, Bayer AG, Deere & Company, Honeywell International Inc., Syngenta Group, Yara International ASA, CNH Industrial, Kubota Corporation, Corteva Agriscience, AGCO Corporation, Teledyne Technologies Incorporated, Trimble Inc., FLIR Systems Inc., Raven Industries, The Climate Corporation, Parrot SA, Ag Leader Technology, Taranis, Sentera Inc., Farmers Edge Inc., PrecisionHawk, MicaSense Inc., Agribotix LLC, Slantrange Inc.
North America was the largest region in the agriculture imaging sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agriculture imaging sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the agriculture imaging sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The agriculture imaging sensor market consists of revenues earned by entities by providing services such as data processing and analysis, crop health monitoring, yield prediction and forecasting, and training and education. The market value includes the value of related goods sold by the service provider or included within the service offering. The agriculture imaging sensors market also includes sales of products including multispectral cameras, lidar sensors, and drones. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Agriculture Imaging Sensor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on agriculture imaging sensor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for agriculture imaging sensor? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The agriculture imaging sensor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.