Agriculture Sensor Market is Projected to Grow at a CAGR of 13.2% During the Forecast Period to Reach USD 2.68 Billion By 2025
PUNE, MAHARASHTRA, INDIA, October 9, 2019 /EINPresswire.com/ — According to the new market research report "Agriculture Sensor Market (Type – Location Sensor, Humidity Sensor, Electrochemical Sensor, Mechanical Sensor, Airflow Sensor, Optical Sensor, Soil Sensor, and Livestock Sensor; Application – Dairy Management, Soil Management, Climate Management, and Water Management): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global agriculture sensor market was approximately valued at US$ 1,126.21 million in 2018. It is anticipated to expand at a CAGR of 13.2 % from 2019 to 2025 and is projected to reach US$ 2,685.67 million during the forecast year of 2025.
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The major players in the agriculture sensor market are AgSmarts Inc., Auroras, Irrometer Company Inc., Delta-T Devices Ltd., Stevens Water Monitoring Systems Inc., Spectrum Technologies Inc., Robert Bosch GmbH, Sentek Ltd., AquaSpy Inc., CropX, and other companies. Companies are adopting strategies such as mergers, acquisitions, and new product launches that maximize the market share.
Rising Deployment of Advanced Monitoring Solutions in Agriculture
The increasing adoption of smart farming practices drives the growth of the agriculture sensor market. The rising deployment of advanced monitoring solutions in agriculture contributes to the growth of the agriculture sensor market. Agriculture sensors are helpful to get data that assist farmers to monitor and optimize crops concerning changes in the environmental conditions. Manufacturers are developing sensor solutions that can be used in small size farms. In addition, rising support from major agricultural nation’s government to encourage the adoption of precision that stimulates the growth of agriculture sensor market. The rising need for an upsurge in agricultural productivity fuels the growth of the agriculture sensor market. The increasing use of sensors in farm machines, vehicles, and farm management systems contribute to the growth of agriculture sensor market. On the flip side, agriculture sensors require huge investments initially that restrains the growth of the agriculture sensor market. Moreover, research and development in precision farming create novel opportunities in the agriculture sensor market. The rising collaborations among different agrochemical companies create new growth opportunities for the growth of the agriculture sensor market.
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Agriculture Sensor Market: Segmentation
The global agriculture sensor market is segmented on the basis of type and application. Based on type, the agriculture sensor market is divided into location sensors, humidity sensors, electrochemical sensors, a mechanical sensor, airflow sensor, optical sensor, soil sensor, and livestock sensor. The application segment includes dairy management, soil management, climate management, and water management.
North America Holds the Largest Market Share
Based on geography, the global agriculture sensor market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to be dominant in the global agriculture sensor market. The rising adoption of smart and advanced farming methods in the U.S. drives the growth of the North America agriculture sensor market. Asia-Pacific is anticipated to grow in the global agriculture sensor market at the fastest CAGR over the forecast period. The increasing awareness about precision farming methods in the Asia-Pacific region contributes to the growth of the agriculture sensor market in the Asia-Pacific region. Europe is also expected to grow in the global agriculture sensor market. India and China are expected to have the largest share in agricultural sensors owing to the presence of large agricultural land.
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=> Comprehensive analysis of global as well as regional markets of the Agriculture Sensor.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify."
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Source: EIN Presswire