The Global Agricultural Sensors Industry Represents a Fragmented Market in Nature

Posted January 3, 2022 by bisrsrch

The global agricultural sensors market was valued at $4.18 billion in 2020, which is expected to grow with a CAGR of 15.4% and reach $9.79 billion by 2026.
The global agricultural sensors market is anticipated to witness significant growth over the forecast period, especially in North America, Europe, the U.K., Asia-Pacific, and China. This significant growth is majorly attributed to the increased integration of technology in the agricultural sector along with government initiatives to support the same.

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The COVID-19 pandemic has had a significant impact on almost all major industries throughout the world, including the agricultural industry. The pandemic has led to economic instability throughout the world, and the GDP for all countries declined in 2020. The pandemic has interrupted normal life, and these changes have proved to act as a catalyst for technology and innovations in every sector, including agriculture. The pandemic’s potential impact on the adoption of the Internet of Things (IoT) has increased the traction of sensing technology in the agricultural sector.

The global agricultural sensors industry represents a fragmented market in nature and is majorly dominated by the agricultural companies that take the lead by acquiring or collaborating with technology-based firms to diversify, innovate and upgrade their solutions. The companies operating in the industry have developed strong strategies in recent years to survive the competition in the fast-growing IoT integrated agriculture market. For instance, in August 2021, CropX Inc. acquired Dacom Farm Intelligence with an aim to expand into Europe. This corporate strategy represents a major consolidation of agriculture digital twin capabilities, geographic datasets, and acres serviced.

Food shortage has been a major problem across the world driven by food wastages. Herein, sensors play an important factor in providing a comprehensive data analysis of the produce quality from its growth until its harvest. This enables the farmers to deliver the produce to the customer without any degradation. The market is witnessing a high demand with an aim to reduce food spoilage by inspecting agricultural produce to reach consumers in an efficient way. In addition to examining the crop health, it also includes wireless assessment of shelf period, improving resource knowledge of produce among stakeholders to achieve timely decisions in the supply chain, and real-time prediction of perishable agricultural produce.

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With better adoption of alternative farming techniques such as agricultural sensors around the world, the market is expected to flourish in the coming years. Also, with better awareness about alternative farming techniques and the benefits that these entail over conventional farming, the agricultural sensors market will be well accepted and adopted by growers around the world.

Agricultural sensors farming techniques are widely accepted worldwide because of the various benefits these techniques offer over conventional farming. With these techniques, the worldwide issue of food safety and security is being addressed. The fruits and vegetables produced through these techniques are monitored and developed in a controlled manner to achieve an optimal growing environment.

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Bhavya Banga
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Categories Agriculture , News , Research
Tags agricultural sensors , agricultural sensors industry , agricultural sensors market , agricultural sensors report
Last Updated January 3, 2022