What Are the Growth Drivers for the Global Crop Monitoring Market Targeting $8.9 Billion by 2030?

Meticulous Research®’s new report titled “Global Crop Monitoring Market by Offering, Technology, Farm Type, Application, and Geography—Forecast to 2030” predicts that the crop monitoring market will reach $8.9 billion by 2030, growing at a CAGR of 19.3%. This growth is fueled by rising demand for precision farming technologies, supportive government policies on IoT adoption, and increased need for quality agricultural products driven by population growth.
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Despite these drivers, the market faces challenges such as high equipment costs and fluctuating regulations. Nevertheless, the integration of AI and IoT in crop monitoring technologies and advancements in mapping offer substantial growth opportunities. Challenges include the lack of technical expertise among farmers and slow technology adoption in developing countries.
The market segments include hardware, software, and services, with hardware projected to hold the largest share in 2023. This segment's growth is driven by automation trends and the increasing use of drones for crop monitoring, as seen with XAG Co., Ltd.’s new drone models.
Technologically, the market includes remote sensing, AI & computer vision, IoT, cloud technologies, big data, and automation & robotics. Remote sensing is expected to dominate due to lower sensor prices and increased automation. Farmsense (U.S.)’s FlightSensor illustrates the application of real-time monitoring technologies in pest management.