Yield Monitor Market
Yield Monitor Market Forecasts to 2030 - Global Analysis By Type (GPS Receiver,Mass Flow Sensor, Moisture Sensor, Other Types), Component (Hardware, Software, Services, Other Components), Technology, Application, End User and by Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $2.96 BN |
|
Projected Year Value (2030) |
US $5.62 BN |
|
CAGR (2023 - 2030) |
9.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Yield Monitor Market is accounted for $2.96 billion in 2023 and is expected to reach $5.62 billion by 2030 growing at a CAGR of 9.6% during the forecast period. A tool used in agriculture to measure crop yields as they are being harvested is termed as yield monitoring. The system usually consists of sensors and software to collect data on crop yield, moisture content, or other factors that affect crop performance. Software gathers and analyzes this data in order to provide farmers with crucial information regarding their crop performance and production. . Yield monitoring systems are frequently utilized in modern agriculture. Farmers can use this information to make data-driven decisions that will enhance productivity or profitability
Market Dynamics:
Driver:
Increased demand for food and cost-effective technology
The market's advanced technical features and low processing costs, growth is projected. The market is expanded through the use of cutting-edge technology that increases land fertility and profitability, maximizes output, lowers agricultural costs, and supports sustainable agriculture. Fast-rising food demand is putting pressure on increased agricultural output, but it may be addressed with innovative and effective yield monitoring tools. This is a significant factor in the market's growth.
Restraint:
Lack of knowledge and information
It is anticipated that a lack of information about modern farming may limit market expansion. Many farmers might not be completely aware of the advantages of employing yield monitors or might not have received the appropriate training in how to interpret the data produced by these systems. Adoption may be hampered by this ignorance and lack of education. A lot of data is produced by yield monitors, and this data needs to be handled, analyzed, and connected with other farm management systems. Farmers may find it challenging to efficiently manage and utilize this data.
Opportunity:
Increase in productivity and enhancing profits
One of the most innovative methods of managing agriculture is yield monitoring, which is gaining popularity. It also involves recognizing, adjusting and monitoring crop differences between and within fields. As a result, the market's need for yield monitoring systems will definitely increase. In agriculture, yield monitoring systems are primarily used to improve crop management and increase profitability. Overall, the opportunities in agriculture are substantial or have the potential to significantly change the sector, especially as technology develops and becomes more accessible.
Threat:
Difficulty in monitoring the systems
Some farmers may find it difficult to implement yield monitoring systems since the equipment is sophisticated and requires specialist knowledge to install and maintain. Particularly for farmers without prior experience in data analysis or administration, the massive amounts of data generated by yield monitoring systems can be daunting and challenging to manage. However, yield monitoring systems may present privacy and security issues with farm data collection, especially if it is shared with third-party service providers or utilized for other purpose.
Covid-19 Impact:
The market for yield monitoring systems has been influenced by covid-19. The operations of precision farming manufacturers, as well as those of their suppliers and distributors, were impacted by covid-19. The demand for precision farming was adversely affected in the short term by the decline in export shipments and the slower domestic demand than before covid-19. In the post-pandemic environment, the emergence of vertical and indoor farms is anticipated to further fuel market expansion.
The Guidance System segment is expected to be the largest during the forecast period
The Global Positioning System (GPS) in Guidance System segment is expected to have the largest share. A GPS receiver is a distant sensor that determines a combine's position as well as its height, speed, and other characteristics. It records geo-referenced data that can be used to create maps that are helpful to farmers. These discoveries have a huge amount of significance. Using the data from these sources, farmers can evaluate different production metrics and improve yield management.
The moisture segment is expected to have the highest CAGR during the forecast period
The moisture segment is anticipated to witness the highest CAGR during the forecast period. A moisture sensor is used to measure the volumetric water content of the soil using the capacitance principle. Globally, gradual climatic changes and rising awareness among government organizations are driving demand for soil moisture sensors. It is simple to use soil moisture sensors. The quantity and type of irrigation required in the area to create a high yield depend on the rainfall pattern, crop evapotranspiration rate, and soil type. Thus, assessing moisture content aids producers in minimizing adverse environmental effects.
Region with largest share:
During the forecast period, North America is expected to hold the largest share, owing to the rapidly using of cutting-edge farming equipment and machinery, such as sensors, displays, steering and guidance systems, and farm management software. Moreover, due to the increasing use of advanced technologies in various agricultural applications, the reduction of labor requirements, farm consolidation, population growth, and the increasing demand for high productivity from the region's existing agricultural areas.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, due to the ongoing increase in grain production, particularly in nations like China and India. Additionally, the growth of the yield monitoring market is ultimately being fueled by capital investments made by various countries in this area to improve the agriculture sector. The diverse agricultural landscape of the Asia Pacific region, which ranges from large-scale commercial farms to smallholder operations, creates a significant demand for yield monitor suppliers. Therefore, the region's market is also growing as a result of government programs supporting contemporary farming methods and growing consumer awareness of sustainable agriculture.
Key players in the market
Some of the key players in Yield Monitor Market include Ag Leader Technology, GCO Corporation., AgEagle Aerial Systems, Inc., BouMatic, Case Ih, CNH Industrial Group, Cropmetrics, CropX Inc., Deere & Company, Grains Research and Development Corporation, Mouser Electronics, Inc., Raven Industries, Inc., SPL Technologies Pvt. Ltd., Teejet Technologies, Topcon Precision Agriculture, Trimble Inc, Trimble Navigation Limited and Valmont Industries Inc..
Key Developments:
In August 2023, The AGCO Agriculture Foundation (“the Foundation”), a private foundation with the vision to prevent and relieve hunger through sustainable agricultural development, announced a USD 50,000 grant to the MHP-Gromadi Charitable Foundation to support its community-focused initiative to provide high-quality food.
In February 2021, the nation's leading provider of trained technicians to the transportation industry, announced its first-ever agricultural manufacturing training program with AGCO Corporation (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and solutions.
Types Covered:
• GPS Receiver
• Mass Flow Sensor
• Moisture Sensor
• Other Types
Components Covered:
• Hardware
• Software
• Services
• Other Components
Technologies Covered:
• Guidance System
• Remote Sensing
• Other Technologies
Applications Covered:
• Crop Scouting
• Field Mapping
• Variable Rate Application
• Yield Mapping
• Other Applications
End Users Covered:
• Agriculture Consultant
• Farmers
• Research Bodies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Yield Monitor Market, By Type
5.1 Introduction
5.2 GPS Receiver
5.3 Mass Flow Sensor
5.4 Moisture Sensor
5.5 Other Types
6 Global Yield Monitor Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services
6.5 Other Components
7 Global Yield Monitor Market, By Technology
7.1 Introduction
7.2 Guidance System
7.2.1 Global Yield Monitoring System Geographic Information System (GIS)
7.2.2 Global Positioning System (GPS)
7.3 Remote Sensing
7.3.1 Satellite
7.3.2 Handheld
7.4 Other Technologies
8 Global Yield Monitor Market, By Application
8.1 Introduction
8.2 Crop Scouting
8.3 Field Mapping
8.4 Variable Rate Application
8.5 Yield Mapping
8.6 Other Applications
9 Global Yield Monitor Market, By End User
9.1 Introduction
9.2 Agriculture Consultant
9.3 Farmers
9.4 Research Bodies
9.5 Other End Users
10 Global Yield Monitor Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Ag Leader Technology
12.2 AGCO Corporation.
12.3 AgEagle Aerial Systems, Inc.
12.4 BouMatic
12.5 Case Ih
12.6 CNH Industrial Group
12.7 Cropmetrics
12.8 CropX Inc.
12.9 Deere & Company
12.10 Grains Research and Development Corporation
12.11 Mouser Electronics, Inc.
12.12 Raven Industries, Inc.
12.13 SPL Technologies Pvt. Ltd.
12.14 Teejet Technologies
12.15 Topcon Precision Agriculture
12.16 Trimble Inc
12.17 Trimble Navigation Limited
12.18 Valmont Industries Inc.
List of Tables
1 Global Yield Monitor Market Outlook, By Region (2021-2030) ($MN)
2 Global Yield Monitor Market Outlook, By Type (2021-2030) ($MN)
3 Global Yield Monitor Market Outlook, By GPS Receiver (2021-2030) ($MN)
4 Global Yield Monitor Market Outlook, By Mass Flow Sensor (2021-2030) ($MN)
5 Global Yield Monitor Market Outlook, By Moisture Sensor (2021-2030) ($MN)
6 Global Yield Monitor Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Yield Monitor Market Outlook, By Component (2021-2030) ($MN)
8 Global Yield Monitor Market Outlook, By Hardware (2021-2030) ($MN)
9 Global Yield Monitor Market Outlook, By Software (2021-2030) ($MN)
10 Global Yield Monitor Market Outlook, By Services (2021-2030) ($MN)
11 Global Yield Monitor Market Outlook, By Other Components (2021-2030) ($MN)
12 Global Yield Monitor Market Outlook, By Technology (2021-2030) ($MN)
13 Global Yield Monitor Market Outlook, By Guidance System (2021-2030) ($MN)
14 Global Yield Monitor Market Outlook, By Global Yield Monitoring System Geographic Information System (GIS) (2021-2030) ($MN)
15 Global Yield Monitor Market Outlook, By Global Positioning System (GPS) (2021-2030) ($MN)
16 Global Yield Monitor Market Outlook, By Remote Sensing (2021-2030) ($MN)
17 Global Yield Monitor Market Outlook, By Satellite (2021-2030) ($MN)
18 Global Yield Monitor Market Outlook, By Handheld (2021-2030) ($MN)
19 Global Yield Monitor Market Outlook, By Other Technologies (2021-2030) ($MN)
20 Global Yield Monitor Market Outlook, By Application (2021-2030) ($MN)
21 Global Yield Monitor Market Outlook, By Crop Scouting (2021-2030) ($MN)
22 Global Yield Monitor Market Outlook, By Field Mapping (2021-2030) ($MN)
23 Global Yield Monitor Market Outlook, By Variable Rate Application (2021-2030) ($MN)
24 Global Yield Monitor Market Outlook, By Yield Mapping (2021-2030) ($MN)
25 Global Yield Monitor Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Yield Monitor Market Outlook, By End User (2021-2030) ($MN)
27 Global Yield Monitor Market Outlook, By Agriculture Consultant (2021-2030) ($MN)
28 Global Yield Monitor Market Outlook, By Farmers (2021-2030) ($MN)
29 Global Yield Monitor Market Outlook, By Research Bodies (2021-2030) ($MN)
30 Global Yield Monitor Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
List of Figures
Figure 1 Global Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 2 North America Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 3 US Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 4 Canada Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 6 Europe Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 7 Germany Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 8 UK Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 9 Italy Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 10 France Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 11 Spain Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 14 Japan Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 15 China Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 16 India Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 17 Australia Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 21 South America Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 24 Chile Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 28 UAE Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Yield Monitor Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Yield Monitor Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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