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Soil Monitoring Market to be Worth $1.1 Billion by 2030
Meticulous Research®—a leading global market research company, published a research report titled, ‘Soil Monitoring Market by Offering (Software, Hardware, Services), System Type (Sensing & Imagery, Ground-based Monitoring System, Other System Types), Sector (Agriculture, Non-Agriculture), and Geography - Global Forecast to 2030.’Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5723?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=09-02-2024
According to this latest publication from Meticulous Research®, the soil monitoring market is projected to reach $1.1 billion by 2030, at a CAGR of 10.3% from 2023-2030. The growth of the soil monitoring market is driven by the rising need to preserve soil quality, the growing demand to improve farm productivity, and the rising adoption of advanced farm techniques. However, the difficulties in monitoring due to spatial variability of soil restrains the growth of the soil monitoring market. Furthermore, the integration of advanced technologies to promote smart agriculture, the growing adoption of soil monitoring in emerging countries, and rising government investment in agriculture practices are expected to create growth opportunities in the market. However, one of the major challenges for the players operating in this market is the lack of awareness and technical skills regarding soil monitoring. The latest trends in the global soil monitoring market are the increasing adoption of drone-based soil monitoring and the growing adoption of soil robotics.
The soil monitoring market is segmented by offering (software, hardware, services), system type (sensing & imagery {satellite-based soil monitoring, drone-based soil monitoring, manned aircraft/aerial photography soil monitoring}, ground-based monitoring system, other system types), and sector (agriculture, non-agriculture.) The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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Based on offering, the soil monitoring market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the soil monitoring market. The large market share of this segment is attributed to the increasing penetration of soil sensors, soil scanners, and weather stations for soil monitoring, the rising need to preserve soil quality, the increasing focus on hardware-centric capabilities, and the increasing R&D investments to improve soil monitoring sensors and other devices.
Based on system type, the soil monitoring market is segmented into sensing & imagery, ground-based monitoring systems, and other system types. In 2023, the ground-based monitoring system segment is expected to account for the largest share of the soil monitoring market. The large market share of this segment is attributed to the increasing adoption of soil monitoring sensors and devices, the growing demand to improve farm productivity, and the rising need to preserve soil quality. In addition, the growing awareness among farmers regarding the benefits associated with ground-based monitoring systems further supports the growth of this segment.
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Based on sector, the soil monitoring market is segmented into agriculture and non-agriculture. In 2023, the agriculture segment is expected to account for the largest share of the soil monitoring market. The large market share of this segment is attributed to the growing demand to improve farm productivity, rising adoption of advanced farm techniques, and rising government investments in agriculture practices. In addition, the rising demand for soil health monitoring platforms, growing farmer awareness of sustainable agriculture practices, and growing adoption of satellite-based soil monitoring for agricultural applications are driving the growth of this segment. Also, this segment is projected to register the highest CAGR during the forecast period.
Based on geography, the soil monitoring market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the soil monitoring market. North America’s major market share is attributed to the presence of prominent players offering advanced soil monitoring solutions. Furthermore, the growing adoption of soil monitoring sensors and devices, integration of advanced technologies to promote smart agriculture, growing demand to improve farm productivity, and rising government investment in agriculture practices are also contributing to the growth of the soil monitoring market in North America.
Key Players:
The key players operating in the soil monitoring market are Stevens Water Monitoring Systems Inc. (U.S.), SGS SA (Switzerland), METER Group, Inc. (U.S.), Element Materials Technology (U.K.), The Toro Company (U.S.), Campbell Scientific, Inc. (U.S.), Sentek Pty Ltd (Australia), Spectrum Technologies, Inc. (U.S.), Irrometer Company, Inc. (U.S.), CropX Inc. (U.S.), Acclima, Inc. (U.S.), HydroPoint Data Systems, Inc. (U.S.), Delta-T Devices Ltd (U.K.), Manx Technology Group Limited (Isle of Man), and Soil Scout Oy (Finland).
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