Published June 30, 2023
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Satellite Imaging For Agriculture Market Size, Share & Trends Analysis Report By Application (Crop Health Monitoring, Soil Mapping, Forestry), End-User (Agribusinesses, Government And Non-Government Agencies, Research Institutes), And Product (Data Acquisition, Processing, Analytics, And Integrated Delivery Platform), Region, Market Outlook And Industry Analysis 2031″
The global satellite imaging for agriculture market is estimated to reach over USD 1071.47 million by 2031, exhibiting a CAGR of 8.78% during the forecast period.
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Precision farming techniques are made possible by satellite imaging, which identifies spatial heterogeneity within fields. Farmers can develop field zoning maps that outline areas with various crop health and nutrient requirements using satellite data. This knowledge makes it easier to apply water, insecticides, and fertilizers at variable rates, which optimizes resource allocation, lowers input costs, and has the least negative effects on the environment.
The demand for satellite imaging in agriculture is being driven by the desire to maximize crop productivity and enhance overall farm management practices. Farmers depend more and more on satellite data to track crop health, spot affected areas, and execute specialized remedies.
Farmers can use data-driven decisions made possible by satellite imaging to raise yields, save costs, and improve sustainability. Farmers and agronomists now have more access to analytics platforms and satellite data suppliers. Businesses are providing easy-to-use platforms that let customers access and analyze satellite imagery, gain insights that can be put to use, and link the information with other agricultural systems. The widespread use of satellite imaging in agriculture is being fueled by the accessibility of user-friendly tools and platforms.
List of Prominent Players in the Satellite Imaging for Agriculture Market:
- Farmers Edge Inc
- Planet Labs PBC
- Maxar Technologies
- Descartes Labs, Inc
- EOS Data Analytics, Inc
- European Space Imaging
- NaraSpace Inc
- Open Cosmos Ltd
- Satellite Imaging Corporation
- SpaceKnow Inc.
- EarthDaily Analytics
The market for satellite imaging in agriculture is primarily driven by the use of precision agriculture techniques. In order to make informed decisions about crop health, resource allocation, and yield optimization, precision agriculture depends on precise and timely data. Farmers can monitor crops, identify variations within fields, and carry out precise interventions like variable rate input applications thanks to satellite imaging’s high-resolution imagery and data. Satellite imaging encourages resource efficiency, reduces waste, and uses fewer agrochemicals, all of which help to support sustainable agriculture.
Although there are many advantages to using satellite imagery for agriculture, there are still a number of issues that must be resolved before it can be widely used and effectively put into practice. It can be expensive to gain access to high-resolution satellite imagery and data, particularly for small-scale farmers or those who work in underdeveloped nations. Many farmers may find it difficult to use satellite imaging technologies because of the high expense of collecting and processing satellite imagery. It can be difficult to adequately evaluate and integrate the massive amounts of data produced by satellite images with those from other agricultural data sources.
The North America Satellite Imaging for Agriculture Market is expected to register a major market share in terms of revenue and is projected to grow at a high CAGR in the near future. The center of technical innovation and advancement in North America. Satellite technology has advanced in the area, resulting in greater resolution pictures, improved spectrum capabilities, and improved data processing methods.
These technological developments enable more accurate and thorough crop health monitoring, facilitating precision agricultural decision-making. Additionally, Europe has been at the forefront of the development of precision agriculture, which largely utilizes satellite photography. Practices related to precision agriculture, such as variable rate input applications, remote sensing for crop monitoring, and yield estimation, have become very popular in the area. The accurate and timely information provided by satellite imaging is essential for supporting decision-making in precision agriculture.
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- In December 2022, SI Imaging Services and Terra Cover, a company that specializes in AI-based geospatial analytics, signed a memorandum of agreement. Both enterprises intend to launch their respective businesses and concentrate on various satellite imagery-based technology industries, including agriculture.
Segmentation of Satellite Imaging for Agriculture Market-
- Crop Health Monitoring
- Soil Mapping
- Government and Non-Government Agencies
- Research Institutes
- Data Acquisition
- Integrated Delivery Platform
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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