Global Yield Monitoring System Market – Industry Trends and Forecast to 2029

Global Yield Monitoring System Market, By Technology (Guidance System, Global Positioning System (GPS), Global Yield Monitoring System Geographic Information System (GIS), Handheld, Satellite, Remote Sensing System), Component (Hardware, Software, Services), Application (Variable Rate Application, Crop Scouting, Field Mapping, Others), End User (Farmers, Agriculture Consultant, Research Bodies, Others), Type (Mass Flow Sensor, Moisture Sensor, GPS Receiver) – Industry Trends and Forecast to 2029.

Market Analysis and Size

Yield monitoring system is widely being deployed across numerous industries in order to enhance site-specific farming. Yield monitor services are known for delivering on-farm and off-farm benefits, such as a spatial database, and real-time availability of farm information, among others that further helps in evaluation of overall field conditions.

Global Yield Monitoring System Market was valued at USD 2.15 billion in 2021 and is expected to reach USD 3.87 billion by 2029, registering a CAGR of 7.60% during the forecast period of 2022-2029. Field Mapping is expected to witness high growth in the application segment of the market owing to the increase in the concerns regarding soil erosion. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Yield monitoring is a precision technique that provides farmers with information about yield productivity. The system is primarily used to track a variety of parameters such as weather, pesticides, soil qualities, and fertilizer requirements for crop production. The yield monitor is made up of a task monitor that performs multiple tasks in a yield monitoring system, including providing a visual interface for the user, storing yield data on a removable storage disk, managing sensor calibration, and diagnosing any sensor faults.

Report Scope and Market Segmentation

Yield Monitoring System Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Growing knowledge about precision farming

Precision farming, one of the most advanced methods of agriculture management, is gaining popularity. It also includes determining, responding to, and monitoring crop variability across and within fields. This is likely to increase market demand for yield monitoring systems.

• Cost efficient technology

The market is predicted to develop due to its sophisticated technical features and reduced processing costs. The integration of advanced technologies to improve land fertility and profitability, maximize productivity, reduce the cost of farming and facilitate sustainable agriculture assist in the expansion of   the market.

• Rise in the food demand

Increased agricultural productivity is under pressure as a result of fast rising food demand, which can be met through creative and efficient yield monitoring technologies. This is a major driver of the market's expansion.

Opportunities

Furthermore, rise in the number of research activities and constant capital investment extend profitable opportunities to the market players in the forecast period of 2022 to 2029.

Restraints/Challenges

On the other hand, dearth of knowledge regarding modern farming are expected to obstruct market growth. Also, rise in the adoption of conventional methods of farming is projected to challenge the yield monitoring system market in the forecast period of 2022-2029.

This yield monitoring system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on yield monitoring system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Yield Monitoring System Market

The COVID-19 has impacted yield monitoring system market. COVID-19 had an impact on not just the operations of precision farming manufacturers, but also the operations of their suppliers and distributors. In the immediate term, the drop in export shipments and slow domestic demand for precision farming compared to pre-COVID-19 levels negatively impacted the demand for precision farming. The increase in vertical and indoor farms across the globe is expected to further drive the market growth in the post-pandemic scenario.

Global Yield Monitoring System Market Scope and Market Size

The yield monitoring system market is segmented on the basis of technology, component, application, end-user and type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Guidance System
• Global Positioning System (GPS)
• Global Yield Monitoring System Geographic Information System (GIS)
• Handheld
• Satellite
• Remote Sensing System

Component

• Hardware
• Software
• Services

Application

• Variable Rate Application
• Crop Scouting
• Field Mapping
• Others

End-User

• Farmers
• Agriculture Consultant
• Research Bodies
• Others

Type

• Mass Flow Sensor
• Moisture Sensor
• GPS Receiver

Yield Monitoring System Market Regional Analysis/Insights

The yield monitoring system market is analyzed and market size insights and trends are provided by country, technology, component, application, end-user and type as referenced above.

The countries covered in the yield monitoring system market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).

North America dominates the yield monitoring system market because of the growing adoption of advanced technology within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because rise in the incidence of large land for agricultural activities in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Yield Monitoring System Market Share Analysis

The yield monitoring system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to yield monitoring system market.

Some of the major players operating in the yield monitoring system market are

• Trimble Inc (US)
• AGCO Corporation. (US)
• Raven Industries, Inc. (US)
• Ag Leader Technology (US)
• Mouser Electronics, Inc. (US)
• CNH Industrial Group (UK)
• Topcon (Japan)
• Grains Research and Development Corporation (Australia)
• SPL Technologies Pvt. Ltd. (India)
• AG Leader Technology Inc. (US)
• AGCO Corporation (US)
• AgJunction Inc. (Canada)
• AgEagle Aerial Systems, Inc. (US)
• Valmont Industries Inc. (US)
• Agsmart Pty Ltd (Australia)
• BouMatic (US)
• CROPMETRICS (US)
• Trimble Inc. (US)
• CropX Inc. (Israel)
• Deere & Company (US)
• Farmers Edge Inc. (Canada)
• GEA Group Aktiengesellschaft (Germany)