Yield Monitoring Devices and Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2020
Albany, NY -- (SBWIRE) -- 02/22/2017 -- Yield monitoring refers to monitoring several factors such as pesticides, effect of weather, soil properties, and fertilizers required for crop (yield) production. Yield monitoring 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 location (climate and soil composition) and require precise farming, the farmers deploy yield monitoring techniques. Yield monitoring devices and services enable the farmers to procure yield map of the land to accurately assess any variation in the yield from the existing land. The monitoring devices help the farmers to continuously record the flow of grains and harvester, and integrated the same with the harvest position in the land. This process is known as yield mapping. The position data and information of the yield is stored on storage devices and is further used to produce yield map of the land.
The yield monitoring devices and services market is primarily driven by the rising demand for cost saving and optimum energy consumption. The technological enhancement in the food and agriculture industry is further supporting the growth of this market. Additionally, the increasing population resulting in rise in food consumption is encouraging the farmers to adopt yield monitoring devices and services, so as optimize the production. Moreover, the government subsidies in the food and agriculture industry boost the growth of yield monitoring devices and services market. Yield monitoring devices and service market is expected to witness potential growth with the implementation of unmanned vehicles in the yield monitoring market. In addition, the deployment of communication network to procure the data over the internet from a remote location is further expected to support the growth in the coming years.
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However, the lack of technical expertise and improper utilization of data generated for yield mapping is hindering the market growth. Additionally, the major challenge for the yield monitoring device manufacturing companies is to accurately calibrate the devices to provide precise results. Moreover, in spite of yield monitoring devices and services offering several advantages for precise agriculture, the high cost of implementation is a potential challenge for the farmers in countries such India, Indonesia and Brazil, which restricts large scale adoption across these emerging markets.
The yield monitoring device and services market is segmented on the basis of components used component and services, technology and applications. The applications segment comprise of crop reconnaissance, land mapping, soil monitoring and other variable rate applications such as seeding, weed control, fertilizer and lime. The technologies involved in yield monitoring market include global positioning systems (GPS), geographic information systems (GIS) and remote sensing. Moreover, there are several software solutions available in the market to manage the yield data and retrieve information from the same. In addition, some companies offer consulting service to the farmers for precise farming and implementation of yield monitoring devices.
On the basis of geography, the major revenue contribution to the yield monitoring devices and services market is from North American countries followed by European countries. However, with technical advancement and government support, the Asia Pacific region is expected to emerge as attractive market for yield monitoring devices and services. The major players in the market are AGCO Corporation, Ag Leader Technology, Case IH, Raven Industries Inc., Precision Planting Inc., Topcon Positioning Systems, Inc., AgJunction Inc., Deere & Company, Trimble Navigation Limited (U.S.) and TeeJet Technologies.