Yield Monitoring Devices and Services Market

Yield Monitoring Devices and Services Market - An Overview

The global yield monitoring devices and services market is expected to witness strong growth during the forecast period between 2021 and 2031.

Yield monitoring devices and services have proven beneficial in assisting farmers to measure yield data during the harvesting process in a bid to examine the effects of factors such as use of fertilizers and pesticides and changes in weather conditions on overall product yield.

Yield monitoring devices and services provide details of key agricultural aspects such as grain moisture, location, area coverage, and grain flow.

Some of the other benefits offered by yield monitoring devices and services include real-time availability of information of farms, crop scouting, soil monitoring, field mapping, and variable rate application. These advantages assist agricultural manufacturers to evaluate the prevailing agricultural conditions.

Yield Monitoring Devices and Services Market - Trends and Opportunities

Rising demand for optimum energy consumption and cost-effectiveness is the key growth driver for the global yield monitoring devices and services market.

Also, increasing population in leading economies globally could lead to rise in food consumption, thereby causing farmers to adopt novel yield monitoring devices and services which, in turn, could help in overall market growth.

In addition to this, advancements to existing yield monitoring devices and services could contribute to the growth of the global market, in the years ahead.

Other factors such as implementation of unmanned automobiles could bolster the overall yield monitoring devices and services market, in the years ahead.

Yield Monitoring Devices and Services Market - Competitive Landscape

The competition in the global yield monitoring devices and services market has intensified in the last few years with the well-established players witnessing continuous growth and the smaller players witnessing strong growth. It is anticipated that leading players will account for a large share in the overall market, in future.

Research and development undertakings to produce improved quality of products could be a key growth strategy for leading yield monitoring devices and services market players, in the years ahead.

Growth strategies such as novel product launches could help yield monitoring devices and services market players gain a competitive edge over other players, in the years ahead.

Collaboration with smaller players could help well-established yield monitoring devices and services market players expand their market presence and increase their revenue shares.

Yara International, in April 2019, signed a collaborative agreement with IBM to integrate world-class agronomy with advanced technologies in a bid to develop a digital platform. This platform has benefited farmers in the succeeding years.

Some of the leading players in the global yield monitoring devices and services market include Topcon Positioning Systems Inc., Teejet Technologies, Raven Industries Inc., Precision Planting Inc., and Yara International.

Yield Monitoring Devices and Services Market - Regional Assessment

The global yield monitoring devices and services market is divided into four regions, namely, North America, Asia Pacific, Europe, and rest of the world.

North America is expected to be the dominant region in the global yield monitoring devices and services market because of increased adoption of different types of advanced technologies in countries such as US and Canada. 

Europe is expected to offer lucrative growth opportunities for the overall yield monitoring devices and services market owing to the presence of improved agricultural systems and crop management in countries such as Italy and Germany.

Asia Pacific is projected to witness strong growth in the global yield monitoring devices and services market due to subsidies offered by governments in countries such as India and China, contributing to market growth in the region.

The rest of the world is expected to witness moderate growth in the global yield monitoring devices and services market, in the coming years.