According to a new report, published by KBV research, The Global Agriculture Sensor Market size is expected to reach $2.8 billion by 2027, rising at a market growth of 13.7% CAGR during the forecast period.
The Location Sensors segment is leading the Global Agriculture Sensor Market by Type in 2020; thereby, achieving a market value of $558.2 million by 2027. These sensors use GPS-enabled satellite signals to determine topographic attributes such as altitude, longitude, and latitude of the field area. These sensors are in high demand as they are used to implement the precision technologies where they are needed.
The Water Management market is showcasing a CAGR of 15% during (2021 - 2027). The water management segment garnered a promising revenue share in the agriculture sensor market. The growth in this segment can be attributed to the scarcity of water in various regions which is raising the demand for controlling water wastage due to the farming activities.
The North America is fastest growing region in the Global Agriculture Sensor Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.2 billion by 2027. The Europe market is estimated to grow at a CAGR of 13.2% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 14.3% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/agriculture-sensor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of CropIn Technology Solutions Private Limited, CropX, Inc., dol-sensors a/s, Sentera, Inc., Monnit Corporation, Texas Instruments, Inc., Glana Sensors AB, Libelium Comunicaciones Distribuidas S.L., Pycno Agriculture, and Sensaphone.
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