Smart Plant Monitor Market Overview:
Smart Plant Monitor Market size is estimated
to reach $ 2.1 billion by 2030, growing at a CAGR of 15.9 % during the forecast
period 2023-2030. The adoption of advanced technologies such as the Internet of
Things (IoT), ML (Machine Learning), GPS (Global Positioning System), GIS
(Global Information System), and other technologies has drastically enhanced
productivity and reduced the cost of production. The integration of IoT and the
usage of robots, drones, remote sensors, and computer imaging for monitoring
crops, surveying, and mapping fields will provide data to farmers to
rationalize their farming process according to environmental needs, which will
rapidly accelerate the growth of this market. The use of GPS and GIS for the
monitoring of specific locations in the field, monitoring the soil quality, and
visualization of the field data on a map coupled with the application of big
data analytics to derive critical insights will drastically improve the
productivity of the land.
Market
Snapshot:
Smart Plant
Monitor Market- Report Coverage:
The “Smart Plant Monitor Market Report -
Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the
following segments in the Smart Plant Monitor Market.
Attribute | Segment |
---|---|
By Crop |
●
Coffee ●
Oil
Seeds ●
Sugarcane ●
Cotton ●
Fruits ●
Others |
By Application |
●
Residential ●
Commercial |
By Agriculture Type |
●
Precision farming ●
Smart
Greenhouse ● Others |
By Sensor Type |
●
Soil
Sensor ●
Light
Sensor ●
Temperature
Sensor |
By Geography |
● North
America (U.S., Canada and Others) ●Europe (Germany, France, UK, Italy, Spain,Netherlands, Belgium, Russia, Poland,
Czechia, Sweden and Rest of Europe), ● Asia-Pacific (China, Japan, South Korea, India, Australia &New Zealand, and Rest of Asia-Pacific) ● South America (Brazil, Argentina, Chile, Colombia, and Rest of
South America) ●
Rest of the World (Middle East and Africa) |
COVID-19 /
Ukraine Crisis - Impact Analysis:
●The COVID-19 pandemic has had a profound
impact on the smart plant monitor market, leading to significant shifts in
consumer behavior and market dynamics. As lockdowns and restrictions confined
people to their homes, there was a notable uptick in indoor gardening, driven
by a desire to enhance indoor spaces for both productivity and comfort.
Consequently, this change in consumer preferences fueled a heightened demand
for smart plant monitoring solutions, enabling users to remotely oversee and
nurture their plants. This surge in demand prompted substantial growth in
e-commerce platforms, emerging as the primary avenue for consumers to acquire
these devices, while physical retail outlets grappled with closures and
limitations. Nonetheless, challenges related to supply chain disruptions and
production impediments posed obstacles for manufacturers, impacting product
availability. Despite these challenges, the lasting influence of COVID-19 on
the smart plant monitor market appears likely, with the enduring trend of
indoor gardening and the integration of smart home technologies continuing to
drive industry growth and innovation.
●The Ukraine crisis has introduced a degree of
uncertainty into the smart plant monitor market. As geopolitical tensions
persist and economic sanctions are imposed, global supply chains have been
disrupted, affecting the production and distribution of various products,
including smart plant monitors. These disruptions have led to challenges in
sourcing components and raw materials, potentially impacting the availability
and cost of smart plant monitor devices. Overall, the impact of the Ukraine
crisis on the smart plant monitor market remains a dynamic and evolving
situation, with factors such as supply chain resilience and consumer sentiment
playing pivotal roles in determining its course.
Key
Takeaways:
●North America Dominated the Market Growth.
North America dominated the global smart agriculture market with a market share of 44.58% in 2023. It is expected to register a CAGR of 12.1% from 2023 to 2030. Growing government initiatives and regulations to enhance the agriculture industry in the region are expected to drive the North American regional demand during the forecast period. Various agricultural organizations have come together to form the North America Climate Smart Agriculture Alliance (NACSAA), a platform for educating and equipping the cultivators for sustainable agricultural productivity. With the rising concern for water conservation, governments in North America are actively providing subsidies to enhance the applications of smart irrigation. For instance, the government of California has provided a rebate on smart controllers.
●Revolutionize Agriculture with Remote Plant
Monitoring Solutions.
The increasing need for remote monitoring is driving a transformative shift in the world of agriculture and greenhouse management, presenting an exceptional business opportunity in the burgeoning smart plant monitor market. As large-scale agricultural and greenhouse operations seek more efficient and sustainable practices, the demand for real-time, remote monitoring of plant conditions has never been higher. Smart plant monitors offer businesses a competitive edge by providing access to critical data and control capabilities from anywhere in the world. This level of connectivity and control empowers farmers and growers to optimize resource allocation, detect issues early, and enhance overall crop productivity.
●Rapid Growth of Software Solutions
Transforming the Agriculture Sector
One of the primary drivers fueling the rapid growth of software offerings is the seamless integration of cloud and web-based technologies into agricultural tools and management systems. This integration facilitates data accessibility and sharing, enabling farmers and stakeholders to access critical information from anywhere with an internet connection. Such accessibility has revolutionized farm management by providing real-time insights into crop health, weather conditions, and equipment performance. Furthermore, the proliferation of the cloud has led to the accumulation of vast amounts of agricultural data. This data, often referred to as agri-data, encompasses a wide range of information, from soil quality and moisture levels to crop growth patterns and pest management data. The challenge lies in effectively harnessing and analyzing this massive volume of data for informed decision-making.
● Unlocking Agricultural Potential The
Investment Imperative in Smart Plantation Deployment
The surging interest in indoor gardening has emerged as a significant driving force behind the escalating demand for smart plant monitors in the market. This trend is propelled by a confluence of factors, including the global shift towards urbanization and the consequent downsizing of living spaces. As people increasingly inhabit apartments and homes with limited outdoor areas, the desire for greenery indoors remains undiminished. Smart plant monitors, equipped with cutting-edge technology, have swiftly become the go-to solution for plant enthusiasts seeking to nurture their indoor green companions effectively. These innovative devices offer real-time insights into crucial plant care parameters, such as soil moisture levels, temperature, and light exposure, empowering individuals to create and maintain lush, thriving indoor gardens. With urbanization showing no signs of slowing down and the appeal of indoor greenery continuing to grow, the demand for smart plant monitors is set to remain robust, making them an indispensable tool for modern indoor gardening enthusiasts and horticultural
● Barriers to Smart Agriculture Adoption High
Costs and Data Fragmentation
The high initial cost of installation is a major challenge that is impeding the growth of this industry. The cost of Smart Agriculture depending upon the specifications which becomes an insurmountable barrier in the case of lower-income families in rural areas, and others and prevents widespread adoption of such sophisticated systems. The high initial cost coupled with no standardization of the massive amount of cumulative data due to fragmented land leads to irrational allocation of resources which plays a major role in restricting the market growth. Such trends will negatively impact the market growth in the forecast period.
● The increasing adoption of Precision
agriculture and data mining are the key drivers
The increasing adoption of precision
agriculture and data mining techniques among farmers signifies a notable shift
in modern farming practices. With the advent of cutting-edge technology,
farmers now have the tools to gather, process, and analyze vast amounts of data
from their fields. By implementing precision agriculture, farmers can optimize
their operations, reduce waste, and enhance overall productivity. Utilizing
data mining techniques, they can identify patterns and trends within their
data, enabling them to make proactive choices and predictions. Moreover, this
digital transformation in agriculture is contributing to sustainability by
minimizing resource usage and environmental impact. Smart Plant Monitor Market
Share (%) By Region, 2022
Key Market
Players:
Product/Service launches, approvals, patents
and events, acquisitions, partnerships, and collaborations are key strategies
adopted by players in the Smart Plant Monitor Market. The top 10 companies in
this industry are listed below:
1. Flower
Power
2.
Edyn
3.
Xiaomi
4.
PlantLink
5.
Netro
6.
Terraplanter
7.
Libelium
8.
Semios
9.
Bosch IoT
10.
Happy Plant
Scope of Report:
Report Metric | Details |
---|---|
Base Year Considered |
2022 |
Forecast Period |
2023–2030 |
CAGR |
15.9% |
Market Size in 2030 |
$ 2.1 billion |
Segments Covered |
Crope, Agriculture, Application Type, Sensor
Type |
Geographies Covered |
North America (U.S.,
Canada and Others), Europe (Germany, France, UK, Italy, Spain, Netherlands,
Belgium, Russia, Poland, Czechia, Sweden and Rest of Europe), Asia-Pacific,
South America and Rest of the World (Middle East & Africa). |
Key Market Players |
1.
Flower Power 2.
Edyn 3.
Xiaomi 4.
PlantLink 5.
Netro 6.
Terraplanter 7.
Libelium 8.
Semios 9.
Bosch IoT 10. Happy Plant |
Table of Contents
1. Smart Plant Monito Market- Overview
1.1. Definitions and Scop
2. Smart Plant Monitor Market- Executive Summary
3. Smart Plant Monitor Market- Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Smart Plant Monitor Market- Start-up Companies Scenario (Premium)
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Smart Plant Monitor Market – Market Entry Scenario Premium (Premium)
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Smart Plant Monitor Market- Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Smart Plant Monitor Market– Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycl
8. Smart Plant Monitor Market– By Crop (Market Size – $Million/$Billion)
8.1 Coffee
8.2 Oil Seeds
8.3 Sugarcane
8.4 Cotton
8.5 Fruits
8.6 Others
9. Smart Plant Monitor Market– By Application (Market Size – $Million/$Billion)
9.1 Commercial
9.2 Residential
10. Smart Plant Monitor Market – By Agriculture Type (Market Size – $Million/$Billion)
10.1 Precision Farming
10.2 Smart greenhouse
10.3 Others
11. Smart Plant Monitor Market – By Geography (Market Size – $Million/$Billion)
11.1. North America
11.1.1 The U.S.
11.1.2.Canada
11.1.3 Mexico
11.2 Europe
11.2.1.Germany
11.2.2.France
11.2.3.UK
11.2.4.Italy
11.2.5.Spain
11.2.6.Russia
11.2.7.Rest of Europe
11.3 Asia-Pacific
11.3.1.China
11.3.2.India
11.3.3.Japan
11.3.4.South Korea
11.3.5.Indonesia
11.3.6.Malaysia
11.3.7.Australia
11.3.8.Rest of Asia-Pacific
11.4 South America
11.4.1.Brazil
11.4.2.Argentina
11.4.3.Chile
11.4.4.Colombia
11.4.5.Rest of South America
11.5. Rest of the World
11.5.1.Middle East
11.5.2.Africa
12. Smart Plant Monitor Market – Entropy
13. Smart Plant Monitor Market – Industry/Segment Competition Landscape
13.1. Market Share Analysis
13.1.1.Market Share by Product Type – Key Companies
13.1.2.Market Share by Region – Key Companies
13.1.3.Market Share by Country – Key Companies
13.2. Competition Matrix
13.3. Best Practices for Companies
14. Smart Plant Monitor Market – Key Company List by Country Premium
15. Smart Plant Monitor Market - Company Analysis
15.1 Flower Power
15.2 Edyn
15.3 Xiaomi
15.4 PlantLink
15.5 Netro
15.6 Terraplanter
15.7 Libelium
15.8 Semios
15.9 Bosch IoT
15.10. Happy Plant.
. "Financials to the Private Companies would be provided on a best-effort basis."
Connect with our experts to get customized reports that best suit your requirements. Our
reports include global-level data, niche markets and competitive landscape.