Global Yield Monitoring System Market Overview
Yield monitors are a mature technology which allow producers to quantify local yield variations caused by soil properties, fertility management, weather, or other crop management factors. By recording instantaneous yield along with a GPS location, yield monitors produce a visual indication of yield trends across fields. When collected and analyzed over multiple years, yield data can support changes in crop management practices that result in increased yields and reduced yield variability. Yield data collected during harvest is stored internally on the yield monitor display. Yield monitoring refers to a process of precision which provides information related to yield productivity to the farmers. The system is basically used for monitoring various factors which include effect of weather, pesticides, soil properties and fertilizers required for crop production. The yield monitor consist of task monitor which serves several functions within a yield monitoring system including: providing a visual interface for the user, storing yield data to a removable storage disk, managing sensor calibration and diagnosing any sensor problems.
Several secondary sensors exist on a complete yield monitoring system to help ensure quality data collection. Crop yields vary based on many factors. Yield maps can help identify where the areas of high variability and can help producers begin to identify factors that are driving yield variability. These include adding drainage where necessary, placing hybrids in soil conditions, implementing site specific soil sampling and variable rate fertilizer technologies.
Market Size & Forecast
The global yield monitoring system market is anticipated to record a significant CAGR over the forecast period i.e. 2019-2027. The market is segmented on the basis of application into variable rate application, crop scouting, field mapping and others, out of which field mapping segment accounts for leading market share on the back of real time availability of farm information by which farmers can evaluate the adverse condition during the production of crop. Additionally, adoption of advanced technology such as Internet of Things (IoT) helps to yield monitoring system easily accessible. The calibration of these devices is highly precise and accurate. These factors are expected to drive the market over the forecast period.
Growth Drivers
Cost Efficient Technology
Precision agriculture technology is used to improve farm management which provides detailed, timely and site-specific farm production information. These information helps in substantial reduction in cost due to valuable inputs pertaining to fertilizers, chemicals, seeds and fuel. According to USDA’s Agricultural Resource Management Survey 2018, four technologies are the most commonly used: yield mapping, soil mapping, auto-guidance machinery steering, and variable rate technologies (VRT), out of which yield mapping system highly reduces the cost of crop management. Further, due to its advanced technical feature and low processing cost, the market is expected to witness growth over the forecast period.
Advancement in Technology
There are various mapping software such as yield mapping, VRT technologies and other advanced technique which increase the profitability, sustainability and productivity of crops. The new technologies offer better insight to identify and impart the information to farmers. Smart agriculture techniques such as adoption of Artificial Intelligence (AI), Global Positioning System (GPS), Satellite imagery and data analytics to optimize the crop yield leads to increase the output of crop and decrease the losses in crop production. The demand for food is increasing, with the increasing population across the globe has further enhance the pressure on farmers to produce large amount of crops. These factors are expected to boost the market growth over the forecast period.
Restraints
Low Awareness
The yield monitoring system requires technological knowledge to understand the functioning of system which further requires skilled farmers. Furthermore, low awareness about the system and lack of utilization of yield data for management is expected to limit the market growth in near future.
Market Segmentation
Our-in depth analysis of the global yield monitoring system market includes the following segments:
By Technology
- Guidance Systems
- Global Positioning System (GPS)
- Geographic Information System (GIS)
- Remote Sensing
- Handheld
- Satellite
By Component
- Hardware
- Software
- Services
By Application
- Variable Rate Application
- Crop Scouting
- Field Mapping
- Others
By Region
On the basis of regional analysis, the global yield monitoring system market is segmented into five regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in North America is expected to display a significant growth owing to increasing adoption of yield technology by farmers for crop management. Further, the Europe market is anticipated to induce a growth on the back of rising government subsidies to improve the infrastructure of agricultural system and crop management.
The market in Asia-Pacific is estimated to witness highest growth rate on account of large amount of land present for agriculture system and the GDP of countries in this region majorly depends on farming. These factors boosts to fuel the market growth in the region over the forecast period.
The global yield monitoring system market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating the Market
- Trimble Navigation Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- AGCO Corporation
- Raven Industries Ltd.
- Ag Leader Technology
- Mouser Electronics
- Case IH
- Precision Planting Inc.
- Other Prominent Players
