The global Soil Monitoring Market is expected to be valued at USD 872.3 million in 2027 from USD 345.6 Million in 2019, registering a CAGR of 13.0% through the forecast period. The industry’s growth is primarily attributed to the rising water scarcity and rapid changes in environmental scenarios. Additionally, the rising government’s initiatives about the conservation of water have led to the elevating need for various advanced soil monitoring devices. The increasing implementation of technologies in information communication and the trend of IoT is accelerating the growth of the sector.
The shift in preferences towards the techniques of smart irrigation has led to the increasing use of advanced soil monitoring systems. The growing need to understand the optimal nutrient and water level for plantation has triggered the demand for these monitoring systems for different agricultural purposes.
Rising government investments in the modernization of the agricultural industry through activities of R & D are further boosting the industry. Moreover, the limited availability of various natural resources, including freshwater and arable land, has led to the further growth of the sector.
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Key Highlights from The Report
- In November 2019, a market leader for transporting and lifting heavy objects, Mammoet, made a collaboration with the SGS group—helping the company in huge oil refinery construction in Nigeria.
- The ground-based monitoring system sub-segment accounted for 55.2% of the highest industry share in 2019. The rapid adoption of these monitoring systems by skilled farmers in the developing economies for increasing agricultural productivity and enhancing the quality of crops is impacting the segment’s growth.
- The services sub-segment is predicted to expand with the fastest 13.8% of CAGR during the commenced period. The growing use of several IoT-enabled devices for agricultural as well as non-agricultural purposes and the rising number of smart agriculture devices are propelling the segment’s expansion in the sector.
- The agricultural sub-segment held the maximum market share in 2019. The growing population globally, coupled with the soaring demand for food, is leading to the fast adoption of distinct modern agricultural practices.
- Asia Pacific is projected to experience steady growth during the estimated timeline, owing to its continuous strive in increasing agricultural productivity through the implementation of several technologically advanced practices in agriculture.
- Leading participants in the sector are The Toro Company, Element Materials Technology, CAMPBELL SCIENTIFIC, SGS GROUP, Stevens Water Monitoring Systems Inc., METER GROUP, CROPX TECHNOLOGIES, SENTEK TECHNOLOGIES, Aquamonix, SPECTRUM TECHNOLOGIES, etc.
Emergen Research has segmented the Global Soil Monitoring Market on the basis of system type, offering, application, and region:
System Type Outlook (Revenue, USD Million; 2017-2027)
- Ground-based Monitoring Systems
- Sensing and Imagery Systems
- Others (Telematics Systems and Robotics)
Offering Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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