Global Agriculture Sensor Market Analysis, 2019-2024 - The High Cost of Sensor Technology is Restraining Growth - ResearchAndMarkets.com

The "Agriculture Sensor Market - Forecasts from 2019 to 2024" report has been added to ResearchAndMarkets.com's offering.

The agriculture sensor market was valued at US$841.487 million in 2018 and is projected to expand at a CAGR of 15.46% over the forecast period to reach US$19,93.625 million by 2024.

The global agriculture sensor market is expected to have a significant growth rate as farmers all over the world are adopting modern technologies to increase productivity. Manufacturers are focusing on the development of sensor technology for small farms which is expected to expand the market further. There has been increasing support from the government of major agriculture nations in developing the infrastructure which enables deployment of smart agriculture.

The high initial cost of deployment of sensor technology is expected to be a restraint for the growth of the market. Lack of awareness among farmers of developing nations regarding the use of sensors in the absence of educational or awareness programs is expected to limit the market growth.

By application, yield management is expected to have a significant market share as farmers are increasingly using it to maximise the yield. By geography, North America is expected to have a noticeable market share due to the availability of supporting infrastructure for precision agriculture. The Asia Pacific is expected to have a notable growth rate due to rising investment in agriculture and government support.

Drivers

• Increasing adoption of smart farming practices to increase productivity
• Development of sensor technology for small farms
• Government support

Restraints

• High cost of sensor technology
• Lack of awareness among farmers of developing nations about the use of sensors

Industry Updates

• In January 2019, Microsoft India began using AI sensors to help farmers increase crop yield
• Purdue University developed a handheld sensor that provides a more precise way to measure health of crops in November 2018

Key Topics Covered

1. Introduction

1.1. Market Overview

1.2. Market Definition

1.3. Scope Of The Study

1.4. Currency

1.5. Assumptions

1.6. Base, And Forecast Years Timeline

2. Research Methodology

2.1. Research Design

2.2. Secondary Sources

3. Executive Summary

4. Market Dynamics

4.1. Market Segmentation

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Porter's Five Forces Analysis

4.5.1. Bargaining Power of Suppliers

4.5.2. Bargaining Power of Buyers

4.5.3. Threat of New Entrants

4.5.4. Threat of Substitutes

4.5.5. Competitive Rivalry in the Industry

4.6. Life Cycle Analysis - Regional Snapshot

4.7. Market Attractiveness

5. Agriculture Sensor Market By Type

5.1. Location Sensor

5.2. Water Sensor

5.3. Soil Sensor

5.4. Airflow Sensor

5.5. Others

6. Agriculture Sensor Market By Application

6.1. Yield Monitoring

6.2. Irrigation Management

6.3. Others

7. Agriculture Sensor Market By Geography

7.1. North America

7.1.1. USA

7.1.2. Canada

7.1.3. Mexico

7.2. South America

7.2.1. Brazil

7.2.2. Argentina

7.2.3. Others

7.3. Europe

7.3.1. Germany

7.3.2. France

7.3.3. United Kingdom

7.3.4. Spain

7.3.5. Others

7.4. Middle East And Africa

7.4.1. Saudi Arabia

7.4.2. Israel

7.4.3. Others

7.5. Asia Pacific

7.5.1. China

7.5.2. Japan

7.5.3. South Korea

7.5.4. India

7.5.5. Others

8. Competitive Intelligence

8.1. Competitive Benchmarking and Analysis

8.2. Recent Investments And Deals

8.3. Strategies of Key Players

9. Company Profiles

9.1. Texas Instruments Incorporated

9.2. Robert Bosch GmbH

9.3. AG Leader Technology Inc.

9.4. Sol Chip Ltd.

9.5. Pycno Agriculture

9.6. CropX Inc.

9.7. Trimble Inc.

9.8. Sentera Inc.

9.9. The Yield Pty. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ulm7os

View source version on businesswire.com: https://www.businesswire.com/news/home/20190917005791/en/