Agriculture sensor market projected to reach $5.65 billion by 2032, driven by precision farming.
From GlobeNewswire: 2024-12-12 08:00:00
The Agriculture Sensor Market is projected to reach USD 5.65 billion by 2032, growing at a CAGR of 12.55% from 2024. North America leads with IoT-enabled sensors enhancing resource efficiency, while family farms in the U.S. adopt these technologies for sustainable farming and global food security amidst climate challenges and water scarcity concerns.
Soil sensors play a crucial role in optimizing agricultural productivity by providing real-time data on soil moisture, pH, nutrients, and temperature. These sensors enhance resource efficiency, reduce chemical runoff, and improve soil health, supporting precision agriculture and sustainable farming practices to meet future global food demands.
North America dominates the Agriculture Sensor Market in 2023, driven by investments in smart farming technologies and precision agriculture practices. Asia-Pacific is the fastest-growing region, embracing IoT-enabled sensors and drones to optimize irrigation, fertilization, and pest management, spearheading advancements in global Agri-tech solutions.
Recent developments include John Deere launching a Precision Upgrade Business for Agriculture 4.0, Orbia Netafim partnering with Phytech for enhanced precision irrigation, and Lindsay acquiring a stake in Pessl Instruments to improve irrigation solutions with IoT technology. These initiatives aim to enhance crop yields and resource efficiency in agriculture. The agriculture sensor market is projected to see growth from 2024 to 2032, with insights on production, sales volumes, technology adoption, consumer preferences, and aftermarket trends. The report also includes a competitive landscape, market segmentation by sensor type and application, regional analysis, company profiles, use cases, and best practices.
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