The rapidly increasing food demand owing to burgeoning population puts pressure on increasing agricultural yield which can be achieved through innovative & efficient yield monitoring solutions. This is a key factor driving the growth of the market. Latest technological advancements related to yield monitoring services which help to considerably save input cost related to seeds, chemicals, fertilizers, and fuel usage which is a key factor boosting the growth of the market. Furthermore, government initiative in terms of subsidies persuade farmers to adopt different yield monitoring techniques, which offers growth momentum to the market. However, low awareness about yield monitoring services and lack of specialists along with low utilization of yield data are the factors that hamper the growth of the market. The emergence of Unmanned Aerial Vehicle (UAV) for monitoring yield is considered to offer ample growth opportunities in the market. Moreover, the adoption of high-end technology such as Internet of Things (IoT) related to yield monitoring also offer huge great opportunities to the growth of the market. The accurate and precise calibration of yield monitoring devices is a key market challenge which needs to be overcome by key market players to gain a stronghold in the market.
The report segments the market on the basis of technology, components, applications and geography. On the basis of technology, the market is segmented into guidance systems and remote sensing. The guidance systems is further segmented into Global Positioning System (GPS) and Geographic Information System (GIS), while remote sensing is further segmented into handheld and satellite. On the basis of applications the market is segmented intoOn the basis of applications the market is segmented into Variable Rate Application (VRA), Field Mapping, Soil Monitoring, Crop Scouting and Others. The Variable Rate Application (VRA) is further segmented into Map-Based VRA and Sensor-Based VRA, while Field Mapping is further segmented into boundary mapping and drainage mapping. The soil monitoring is further segmented into moisture monitoring and nutrient monitoring segments. On the basis of geography, the market is segmented into North America, South America, Europe, APAC and Rest of the World (ROW).
Key market players extensively profiled in the report include Ag Leader Technology, Deere & Company, Precision Planting Inc., Raven Industries Inc., AgJunction Inc., AGCO Corporation , Trimble Navigation Limited (U.S.), Case IH (U.S.), TeeJet Technologies (U.S.), and Topcon Precision Agriculture (U.S.).
KEY BENEFITS FOR STAKEHOLDERS:
The report provides a comprehensive analysis of current & future market trends and emerging avenues for the growth of the market across the globe.
The report offers an overview of the government subsidies and its impact on the adoption rate of yield monitoring devices & services by farmers and agricultural producers across different countries
Latest industry trends such as automation, mechanization, and standardization of yield monitoring devices, along with real-time soil moisture management systems, are highlighted in the report.
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