The Global Satellite Imaging for Agriculture Market Size is valued at 548.63 million in 2023 and is predicted to reach 1,074.24 million by the year 2031 at an 8.82% CAGR during the forecast period for 2024-2031.
Remote sensing, or satellite imaging, is a powerful technology rapidly utilized in agriculture to monitor and manage crop health, optimize resource allocation, and improve overall agricultural practices. Satellite imagery gives farmers a complete picture of agricultural fields, allowing them to monitor crop health, growth, and development throughout the growing season.
The agricultural satellite imaging industry is expanding rapidly, driven by a variety of factors. Precision farming techniques, which rely on satellite imaging, are gaining popularity as farmers attempt to optimize resource allocation and boost production. The utilization of satellite data for crop health monitoring, finding variability within fields, and enabling variable rate applications is increasing demand for agricultural satellite imaging solutions. The availability of high-quality and high-frequency satellite imaging allows more timely and accurate crop monitoring, which improves agricultural decision-making.
However, the epidemic has resulted in financial hardships and spending restrictions for many farmers and agricultural enterprises. Limitations in investment capacity have been caused by decreased incomes, disrupted supply networks, and financial uncertainty. As a result, some farmers would postpone or scale down their expenditures in satellite imaging technologies and related services, which would have an effect on market expansion.
Competitive Landscape:
Some of the satellite imaging for agriculture market players are:
- Airbus
- Farmers Edge Inc
- Planet Labs PBC
- Satellogic
- Syngenta
- Maxar Technologies
- Descartes Labs, Inc
- EOS Data Analytics, Inc
- Esri
- European Space Imaging
- Gamaya
- ICEYE
- NaraSpace Inc
- Open Cosmos Ltd
- Satellite Imaging Corporation
- SkyWatch
- SpaceKnow Inc.
- EarthDaily Analytics
- SatSure
- SpaceSense
- Synspective
Market Segmentation:
Satellite imaging for the agriculture market is segmented on the basis of application, end-user, and product. Application segment includes crop health monitoring, soil mapping, forestry, and others. The end-user segment includes agribusinesses, government and non-government agencies, research institutes, and others. By product, the market is segmented into data acquisition, processing, analytics, and integrated delivery platform.
Based On Application, The Crop Health Monitoring Segment Is Accounted As A Major Contributor In The Satellite Imaging For Agriculture Market
The crop health monitoring category is expected to hold a major share in the global satellite imaging for agriculture market in 2024. Satellite imaging in agriculture is crucial for crop health monitoring. Farmers can make educated decisions about irrigation, fertilization, and pest control thanks to the valuable information provided by satellite images for evaluating the health and vigor of crops. Areas of agricultural stress, such as those caused by water stress, nutritional deficits, or pest infestations, can be found using satellite photography. Farmers can identify variances and identify areas that need care by monitoring vegetation indices over time and comparing them to reference values.
The Agribusiness Segment Witnessed Growth At A Rapid Rate
The agribusiness segment is projected to grow at a rapid rate in the global satellite imaging for the agriculture market. The agricultural satellite imaging market is significant to the agribusiness industry. Farming, crop production, agrochemicals, seed production, agricultural machinery, and other operations are all included in agribusinesses. Agribusinesses can gain a lot from satellite imaging technology, which helps companies increase productivity, streamline processes, and make wise decisions. Agribusinesses may monitor crop health and growth throughout the growing season using satellite photography.
In The Region, The North America Satellite Imaging For Agriculture Market Holds A Significant Revenue Share
The North America Satellite Imaging for Agriculture Market is expected to register the highest market share in terms of revenue in the near future. A significant and growing sector of the agriculture industry in North America is satellite imaging for agriculture. Numerous farms, sophisticated farming methods, and a high level of technological adoption can all be found in North America.
Market growth has been influenced by a number of factors, including the growing use of precision agriculture technology, the demand for increased production, and the emphasis on environmentally friendly practices. More farmers and agribusinesses are likely to realize the advantages of satellite imaging in maximizing agricultural operations, which will lead to further market expansion. A significant sector of the region's agricultural market is the Europe satellite imaging for agriculture market. With a strong emphasis on sustainable practices, precision agriculture, and technology breakthroughs, Europe has a broad and substantial agricultural sector.
Satellite Imaging for Agriculture Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 548.63 Mn |
|
Revenue forecast in 2031 |
USD 1074.24 Mn |
|
Growth rate CAGR |
CAGR of 8.78 % from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Application, End-User, And Product |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Airbus, Farmers Edge Inc, Planet Labs PBC, Satellogic, Syngenta, Maxar Technologies, Descartes Labs, Inc, EOS Data Analytics, Inc, Esri, European Space Imaging, Gamaya, ICEYE, NaraSpace Inc, Open Cosmos Ltd, Satellite Imaging Corporation, SkyWatch, SpaceKnow Inc., EarthDaily Analytics, SatSure, SpaceSense, Perspective. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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