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.’
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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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