New York, United States , April 18, 2023 (GLOBE NEWSWIRE) -- The Global Soil Monitoring Market Size is To Worth from USD 490.85 Million in 2021 to USD 1598.78 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period. The primary factors driving the growth of the soil monitoring system market are the increasing need for higher farm production to feed a fast-growing population, as well as the growing popularity of precision agriculture and fertility control services. Furthermore, rapid technological advancements in the agriculture sector, as well as an increase in agricultural activities, are expected to positively impact future growth.
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Soil monitoring is the study of soil, including its stability, components, and physical condition, to determine or ensure its appropriateness for usage. Soil monitoring aids in the detection of soil risks to animal health, human health, and the environment. Soil monitoring systems are comprised of instruments that perform various duties such as data reading/storage, soil sensing, and data transmission to computers via a transmitter. Some of the driving factors for the soil monitoring market are government and corporate efforts to promote sustainable agriculture practices, stringent government regulations pertaining to ecological stability, the pressing need to preserve soil quality, and the growing need to improve farm productivity to feed the world's growing population. Moreover, several governments are taking initiatives to accommodate the increase in food demand. The government of India covers the entire cost of Precision Farming Development Centers (PDFCs). These methods boost precision farming's popularity, propelling the soil monitoring system market even further. However, the high cost of soil monitoring components such as sensors and systems, as well as limited levels of adoption of sophisticated agricultural technologies in several worldwide regions, are severely hindering market expansion.
Browse key industry insights spread across 200 pages with 105 market data tables and figures & charts from the report on "Global Soil Monitoring Market Size, Share, and COVID-19 Impact Analysis, By Application (Agricultural, Non-agricultural), By Offering (Hardware, Software, and Services), By System Type (Ground-based Sensing, Sensing & Imagery, and Robotic & Telematics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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The agriculture segment is expected to hold the largest market over the predicted period.
Based on the application, the global soil monitoring market is differentiated into agricultural, non-agricultural. The significant adoption of soil monitoring in the agriculture segment to accelerate crop output and reduce water usage is the reason for the growth. Furthermore, rising government initiatives and farmer understanding of sustainable agriculture methods are attributable to the expanding deployment of soil monitoring systems.
The hardware segment is estimated to hold the largest share of the global soil monitoring market during the study period.
Based on the offering, the global soil monitoring market is classified into hardware, software, and services. Farmers' increased use of soil sensors, scanners, weather stations, and other soil monitoring equipment is driving expansion. Soil monitoring has aided progressive farmers all over the world, expanding the use of soil monitoring systems and sensors.
The ground-based monitoring sensing system witnessed the highest share in the soil monitoring market.
Based on the system type, the global soil monitoring market is categorized into ground-based sensing, sensing & imagery, and robotic & telematics. The ground-based monitoring sensing system has the largest market share in the soil monitoring market. This is because, these sensors offer various benefits, including the ability for growers to supply crop-specific inputs. Ground-based monitoring systems are projected to drive the market in the next years.
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North America is expected to hold the largest share of the market during the predicted timeframe.
North America is estimated to hold the largest share of the market during the predicted timeframe. Because of the big pandemic scenario in the region, North America is expected to hold the highest share of the market during the forecasted timeframe. As a result of growing sensor utilization in the region's agriculture and sports industries, the market of North America has grown. The Asia Pacific region is anticipated to grow the fastest in the soil monitoring market during the projected period. Soil monitoring enables farmers to make better use of technology in order to boost agricultural output. Additionally, sensors can aid in water conservation in a variety of applications, including sports turf, residential irrigation, landscaping, and ground maintenance. Developing countries like India and China are increasing their investments in next-generation farming practices.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Soil Monitoring Market include Sentek Technologies, Spectrum Technologies, Irrometer, CropX Technologies, AquaSpy, Element Materials Technology, Stevens Water Monitoring Systems, Manx Technology Group, AquaCheck, Caipos GmbH, Acclima, Inc., Vegetronix, SGS Group, METER Group, The Toro Company, Campbell Scientific, and Others.
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Recent Developments
In August 2022, CropX Technologies, Ltd. has revealed the commercial release of new farm management system capabilities. The new capability can monitor the transport of nitrogen and salts in the soil in real time. Traditional lab testing methods are more difficult and time-consuming than the CropX solution, which can provide continuous monitoring of nitrogen leaching occurrences.
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