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Agriculture Imaging Sensor Global market Report 2024
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
The agriculture imaging sensor market size is expected to see rapid growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%.” - The Business Research Company
LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire / -- The agriculture imaging sensor market refers to specialized equipment used in the agricultural sector to collect various types of images such as visible, near-infrared, multispectral, and hyperspectral images. These sensors play a crucial role in modern farming methods by providing valuable information and insights that help farmers increase crop yield, reduce input costs, and improve sustainability practices.
Market Size and Growth Drivers
The agriculture imaging sensor market size is projected to grow from $1.09 billion in 2023 to $1.24 billion in 2024, at a CAGR of 13.9%. The growth in the historic period can be attributed to the increasing demand for data-driven decision-making, global food security concerns, and integration with digital agriculture platforms. In the forecast period, the market is expected to grow to $2.11 billion in 2028, at a CAGR of 14.2%. This growth will be driven by the expansion of precision agriculture practices, demand for sustainable agriculture solutions, digital transformation in agriculture, and rapid urbanization and land use changes.
Precision Agriculture Driving Market Growth
The increasing adoption of precision agriculture is expected to propel the growth of the agriculture imaging sensor market. Precision agriculture involves using technology and data analytics to optimize crop yield through precise management. Agricultural imaging sensors provide farmers with immediate, comprehensive field data, empowering informed decision-making and enhancing resource management efficiency. For example, GeoPard Agriculture reported that the adoption of precision agriculture practices grew from 25% in 2021 to 27% in 2022. This increasing adoption is driving the growth of the agriculture imaging sensor market.
Explore comprehensive insights into the global agriculture imaging sensor market with a detailed sample report:
Key Players and Market Trends
Major companies operating in the agriculture imaging sensor market, such as Topcon Corporation, BASF SE, and Bayer AG, are focusing on developing innovative solutions like tractor-mounted sensors to gain a competitive edge. Tractor-mounted sensors are specialized devices attached to tractors to collect data and imagery related to agricultural fields and crops. For instance, Aurea Imaging launched TMS TreeScout, the world's first fully integrated tractor-mounted sensor powered by AI and 3D computer vision technology, for precision orchard management.
Segments:
.By Product: Red, Green, Blue Sensor, Hyperspectral Sensor, Multispectral Sensor, Other Products
.By Application: Dairy Management, Soil Management, Climate Management, Water Management, Smart Green House, Other Applications
.By End User: Agriculture Robot Manufacturer, Agriculture Drone Manufacturer, Livestock Monitoring Equipment Manufacturer, Other End Users
Geographical Insights: North America Leads, Asia-Pacific Poised for Growth
North America was the largest region in the agriculture imaging sensor market in 2023, driven by technological advancements and high adoption rates. Asia-Pacific is expected to be the fastest-growing region in the forecast period, fueled by increasing digitization in agriculture and rising investments in agricultural infrastructure.
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Agriculture Imaging Sensor Global Market Report 2024 from TBRC covers the following information:
.Market size date for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Agriculture Imaging Sensor Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on agriculture imaging sensor market size, agriculture imaging sensor market drivers and trends, agriculture imaging sensor market major players, competitors' revenues, market positioning, and market growth across geographies. The agriculture imaging sensor market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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