What is Yield Monitors Market?
Rapid Technological Advancement in the Field of Farming Leading To Demand for Yield Monitors which is driving the Global Yield Monitors Market. Yield monitoring refers to Monitoring several factors such as Pesticides, the Effect of Weather, Soil properties, and Fertilizers required for crop (yield) production. It is a part of Precise agriculture which is a farming management concept for measuring, observing and responding to variations in the land and subsequently the yield/harvest. In order to Implement Proper Management of crops that are sensitive to the climate & soil management, the farmers are deploying Yield Monitoring Techniques. These techniques enable the farmers to procure yield map of the land to accurately assess variation in the yield from the existing land.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | AGCO Corporation (United States), Agjunction (United States), Ag Leader Technology, Inc. (United States), Deere & Company (United States), Case Ih (United States), Precision Planting (United States), Raven Industries (United States) and Teejet Technologies Illinois LLC (United States) |
CAGR | 7.0% |
The market study is being classified by Type (GPS Guidance Yield Monitors and GIS Guidance Yield Monitors), by Application (Variable Rate Application (VRA) (Map-Based VRA and Sensor-Based VRA), Soil monitoring (Moisture Monitoring and Nutrient Monitoring), Crop scouting, Field mapping (Boundary Mapping and Drainage Mapping) and Others) and major geographies with country level break-up. According to AMA, the Global Yield Monitors market is expected to see steady growth rate.
AGCO Corporation (United States), Agjunction (United States), Ag Leader Technology, Inc. (United States), Deere & Company (United States), Case Ih (United States), Precision Planting (United States), Raven Industries (United States) and Teejet Technologies Illinois LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Topcon Precision Agriculture (United States) and Trimble Navigation Inc. (United States).
The key players are highly focusing on innovation in production technologies to improve efficiency and shelf life. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in optimal strategies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Yield Monitors market throughout the forecasted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Yield Monitors market by Type, Application and Region.
On the basis of geography, the market of Yield Monitors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Yield Production by the Farmers Due To High Demand for Food Products
- Research Studies Conducted by the Agriculture Institutes
- Energy and Cost Saving, Increased Profitability, and Enhancement in the Yield.
Market Trend
- The Government Initiative in terms Of Subsidies Persuade Farmers to adopt Different Yield Monitoring Techniques.
Restraints
- Lack of trained Specialists & underutilization of agricultural data
- Low awareness among farmers & High-Cost Factor associated with Yield monitors.
Opportunities
- New Techniques like IoT in the Agriculture sector, UAV (Unmanned Aerial Vehicle) is providing an opportunity for the market players to explore new features in Yield Monitor Market.
- Developing countries such as China and India are showing Substantial Demand for Yield Monitoring Devices Owing to Growing Industrial Automation.
Challenges
- The Accuracy Assesment of Yield Variety & Calibration Factor associated with the Yield Monitors is posing a Challenge for the market.
Market Leaders and some development strategies
In February 2019, Ag Leader Technology launched a software i.e. AgFiniti, which connects operations by supplying accurate and actionable information to boost machine productivity and drive confident decisions, across displays and connected devices regardless of distance between fields.
In 2021, CNH Industrial announced the acquisition of 100% stock of Raven Industries, Inc. The acquisition builds upon a long partnership between the two companies and will further enhance CNH Industrial’s position in the global agriculture equipment market by adding strong innovation capabilities in autonomous and precision agriculture technology.
Key Target Audience
Yield Monitor Manufacturers, Dealers/Raw Material Suppliers/Distributors, Agricultural Institutes, Government & Regulatory Agencies and Potential Investors