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Asia-Pacific Agricultural Sensors Market - Growth, Trends and Forecast (2020-2025)

Asia-Pacific Agricultural Sensors Market - Growth, Trends and Forecast (2020-2025)

  • April 2020
  • 79 pages
  • ID: 5891634
  • Format: PDF
  • Mordor Intelligence LLP
Up to $700 off Until Jun 30th 2021

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The Asia-Pacific Agricultural Sensors Market is projected to grow at a CAGR of 15.4% during the forecast period (2020-2025). During the study period, agricultural sensors are expected to achieve complete expansion in the region. Location sensors have gained immense traction in recent years, for the need of precise positioning in precision agriculture. Moreover, sensor-enabled robotic agricultural machineries have been gaining momentum in technologically advanced countries, such as China, Australia, and Japan. For instance, XAG, a well-known Chinese company, launched an autonomous functional farm robot known as the “R80 Agriculture Utility Vehicle” in 2020. ?

Key Market Trends
Increasing Farm Mechanization Rates

The asian agricultural sector has undergone a groundbreaking revolution with respect to the adoption of smart farming practices in recent years. Although the advent of sensor-based technologies, such as Internet of Things (IoT) llular devices, gear tooth sensor-based irrigation and fertilization equipment, and valve position sensors, among others, is relatively new in the domain. China’s contribution rate to its agricultural science and technology progress serves as an indicator of the country’s revitalization strategy in terms of agricultural modernization. The country witnessed a rise from 48.0% in 2005 to 59.2% in 2019 (Ministry of Science and Technology, China). Similarly, according to the Ministry of Agriculture, the rate of mechanization in crop cultivation and harvest rose exponentially from 32.5% in 2003 to 70.0% in 2019. Therefore, the rapidly increasing rate of adoption of smart agricultural practices with a simultaneously aligned high farm mechanization rate, is projected to drive the agricultural sensors market in China, thereby driving the Asia-Pacific sensors market during the forecast period. ?

China Dominates the Market

China dominates the Asia-Pacific agricultural Sensors market which is followed by Japan, Australia and India. The Chinese Government has highly invested in revolutionizing its agriculture sector. With various policies such as the Guiding Opinions of the State Council on Actively Promoting the "Internet Plus“ Action (2015) and National Rural Revitalization Strategic Plan (2018-2022), it is encouraging its farmers to adopt digitalized farming methods that depends heavily on sensors. ?A growing trend in Australian agriculture has been the deployment of IoT sensors to track the health of livestock. Since more concern to the agricultural sector is that greenhouse gases emissions from livestock are one of the major contributors to global warming, extensive research and trials are employed to measure greenhouse emissions. The Remote Sensing Technology Center of Japan says that in recent years, typhoons, localized downpours, droughts and other extreme forms of weather phenomena tended to occur with greater frequency in the country which necessitates robust action Plan on food price volatility and agricultural outputs. This action plan includes various measures such as use of remote sensing from satellites to improve predictions of crop production and weather forecasts. Although Internet of Things (IoT) based agriculture is still nascent in India, mushrooming startups and India’s food security concerns is likely to drive the market of sensors during the forecast period. ?

Competitive Landscape
The agriculture sensors market in Asia Pacific is fragmented with the top players occupying smaller share of the market. The market share of these top players can be attributed to a highly diversified product portfolio. These players are also focusing on constant R&D and developing a wide geographical presence. ?Online selling and new product launching are the two key strategies followed by the companies. The company, Libelium launched a new product, Agriculture sensor node for improving the accuracy of crop monitoring. Trimble Inc., Caipos Gmbh, Vegetronix Inc., Konica Minolta, Inc., Pycno are some of the major players dominating the market.

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