Yield Monitoring Devices and Services Market worth $2.51 Billion by 2020, According to a New Study on ASDReports

Thursday 27 November 2014, Amsterdam

According to a new market research report on ASDReports, "Yield Monitoring Devices and Services Market by Technology (GPS/GNSS, GIS, Remote Sensing), Components (Sensors, GPS/GNSS, Display, Guidance & Steering, and Software & Services), Application (VRA, Field Mapping, Soil Monitoring, and Scouting), and Geography - Global Forecasts to 2020", the total yield monitoring devices and services market is expected to reach $2.51 billion by 2020, growing at a CAGR of 7.17% from 2014 to 2020.

Yield monitoring is considered by farmers to be essential as yield data is recorded automatically while harvesting crops. Yield monitoring and mapping offers many other on-farm and off-farm benefits such as real-time availability of information, creation of a spatial database, and evaluation of whole-field improvements. Yield monitoring devices and services are implemented for site-specific farming, which ensures better efficiency, high yield, and profitability with optimum usage of resources. Yield monitoring techniques have major applications in Variable Rate Application (VRA), soil monitoring, field mapping, and crop scouting.

Despite the rapid growth of global commerce and the widespread availability of equipment for yield monitoring and Variable Rate Application (VRA), adoption rates appear to differ sharply from one country to another. The increasing demand for food is propelling the growers to adopt yield monitoring techniques and optimize their resources efficiently with minimum wastages.

The report provides a detailed segmentation by technology, component, and application. The geographic analysis covers all existing and emerging technologies in the yield monitoring devices and services market. The market based on technology is segmented into guidance system and remote sensing. The market based on hardware components and software is segmented into hardware components such as sensors, GPS/GNSS devices, display devices, guidance, and steering; and software services such as yield data management software as well as consulting and training services. The report also covers major applications of yield monitoring techniques such as field mapping, VRA, soil monitoring, and crop scouting with qualitative and quantitative industry insights.

One of the objectives of the report is to analyze market trends for each of the yield monitoring devices and services market segments and their respective growth rates. Apart from market segmentation, the report also covers an in-depth analysis such as Porter’s five force analysis, supply chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, and opportunities for this market.

The market size for yield monitoring devices and services is included in the report in five geographic splits, namely North America, South America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is estimated to account for a major share in the yield monitoring devices and services market, which is expected to be followed by Europe and RoW.