Smart Crop Scouting and Smart Spraying Market to Reach $9.86 Billion by 2028: BIS Research
Research Reports
Nov 28, 2023
Smart crop scouting and smart spraying technologies provide precise and targeted methods for managing pests and diseases, optimizing nutrient application, and controlling weeds effectively. These technologies empower farmers to make data-driven decisions. These technologies also help enhance operational efficiency by reducing resource wastage.
BIS Research, a leading market research firm, has released a groundbreaking report titled Smart Crop Scouting and Smart Spraying Market, discussing the global smart crop scouting and smart spraying market poised for remarkable growth, with a forecasted CAGR of 18.78% during the forecast period (2023-2028). The detailed study is a compilation of 275 market data tables and 109 figures spread across 382 pages.
Market Analysis: Trends, Data, and Growth Projections
Smart crop scouting and smart spraying represent cutting-edge agricultural techniques that utilize advanced technologies to improve crop care and safeguarding. The global smart crop scouting and smart spraying market was dominated by scouting, holding a significant 70% market share in 2022 and is projected to experience the highest growth rate.
According to the report, the global smart crop scouting and smart spraying market was valued at $3.47 billion in 2022, which is expected to grow with a CAGR of 18.78% and reach $9.86 billion by 2028.
Smart crop scouting and smart spraying technologies provide precise methods for managing pests and diseases. These technologies optimize nutrient application, control weeds effectively, and empower farmers to make data-driven decisions. These technologies also boost operational efficiency and reduce resource waste. Moreover, both smart crop scouting and smart spraying help in minimizing environmental impact. As a result, these technologies are set to drive the global smart crop scouting and smart spraying market’s growth in the future.
Key Players and Market Shares
Over the forecast period from 2023 to 2028, North America is expected to lead the global smart crop scouting and smart spraying market. This region, which includes the U.S., Canada, and Mexico, commands a substantial market share.
The smart crop scouting and smart spraying market is marked by a smaller number of competitors, leading to a more concentrated industry structure. The top four companies, with DJI in the lead, control roughly 23% of the market. The remaining majority, over 77%, is divided among a few other companies. Some prominent players in this segment include XAG, EFT, Small Robot Company, FMC, Kubota, TeeJet, Topcon, and Trimble.
Market Segments
Application: Scouting, Spraying
Scouting Product: Equipment, Software
Spraying Product: Tractor Mounted and Self-Propelled Sprayers, Robotic Sprayers, Drone Sprayers
Region: North America, Europe, China, U.K., Asia-Pacific, South America, Middle East, and Africa
Market Drivers, Challenges, and Opportunities
Smart crop scouting and smart spraying technologies help farmers maximize crop yield with real-time data on crop health, nutrients, and pests. These technologies are vital for organic and non- genetically modified organism (GMO) crops, as they detect pests, diseases, and weeds early. Early detection allows for timely action, ensuring high-quality, pesticide-free crops to meet market needs.
Having a multitude of participants fosters healthy competition, stimulates innovation, and offers farmers a broader range of options to enhance their crop scouting and spraying procedures.
Challenges in the global smart crop scouting and smart spraying market include
- High Initial Investment
- Data Security-Related Concerns
- Compatibility with Existing Equipment
- Limited Availability of Skilled Labor
Report Focus and Methodology
The smart crop scouting and smart spraying market report provides a credible global and regional market analysis and forecast for 2023-2028. The report profiles existing and upcoming products, types, applications, end users, and key players in the market.
BIS Research follows an effective market intelligence methodology comprising a crucial 15-step process. Data is captured from reliable, intelligent sources such as expert interviews, patents, web analytics, scholarly articles, scientific publications, and research and development literature.
BIS follows the Deep Tech M-A-P™ approach, which includes market, application, and product within the syndicated and custom research projects.
M- The Market section covers industry overview, business dynamics, competitive benchmarks, and company profiles. It provides insights to enter, expand, or exit markets globally, regionally, or locally.
A- The Application section dives deep into product analyses, technology insights, use cases, and user types. This data is backed by precise market estimates and forecasts.
P- The Product section covers products, parts, technologies, and materials. Companies looking to drive an innovative agenda need information about product definitions, demand analysis, technology benchmarking and roadmaps, patents, as well as pricing analysis.
Conclusion
The market for smart crop scouting and smart spraying has seen substantial growth. Due to sensor technology, AI, and precision agriculture advancements, farmers can access inventive solutions to enhance pesticide and fertilizer application. These innovations support precise, location-based spraying, cutting down on chemical use, lessening environmental effects, and boosting overall efficiency.
About BIS Research
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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