According to a research report "Soil Monitoring Market by Offering (Hardware, Software, Services), System Type (Sensing & Imagery, Ground-based Sensing, Robotic & Telematics), Application (Agricultural, Non-agricultural) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global soil monitoring market is expected to be worth USD 1,088 million by 2027 from USD 551 million in 2022, at a CAGR of 14.6%.
Browse 209 market data Tables and 64 Figures spread through 237 Pages and in-depth TOC on "Soil Monitoring Market by Offering (Hardware, Software, Services), System Type (Sensing & Imagery, Ground-based Sensing, Robotic & Telematics), Application (Agricultural, Non-agricultural) and Region - Global Forecast to 2027"
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The rapid growth of the global soil monitoring market is attributed to factors such as the efforts of governments and companies to promote sustainable agriculture practices, the pressing need to preserve soil quality, stringent government regulations pertaining to ecological stability, and the growing need for improving farm productivity to feed the rising population. Advancements in sensing and imagery systems as well as telematics have resulted in the wider adoption of soil monitoring sensors, devices, and software.
Ground-based monitoring systems to hold the largest market share during the forecast period
Ground-based monitoring systems are expected to hold the largest market share in the soil monitoring market during the forecast period owing to the surge in the application of several soil monitoring sensors among progressive farmers worldwide. Ground-based monitoring does not require strong technical know-how, which is a prominent factor contributing to the large market share. Technological advancements in smart sensors as well as the integration of such sensors with IoT modules have led to the demand for connected farming.
Software offering to grow at the highest CAGR in the soil monitoring market from 2022 to 2027
The software segment is expected to grow at the highest rate during the forecast period as solutions are deployed in data management and in-field mobility solutions for the delivery of valuable information to farmers. These software solutions provide a detailed analysis of the soil health and farm operations that need to be carried out to ensure improved yields, soil testing information, and application-specific data. These software products enable farmers to monitor and control their field operations using smartphones, PCs, or laptops, reducing their field trips. It helps save time and boosts productivity. The hardware segment held the largest share of the soil monitoring market in 2021, and a similar trend is expected to be observed from 2022 to 2027. Hardware components, sensors, devices, and equipment are increasingly adopted in agricultural and non-agricultural applications. The integration of various sensors into remote monitoring solutions owing to the reduced cost of these sensors has resulted in the largest market share of the hardware segment.
Non-agricultural application to grow at the highest rate between 2022 and 2027
The non-agriculture application is on an upward growth trajectory owing to the adoption of various portable devices and soil scanners for soil monitoring purposes, especially for weather forecasting and flood and drought management. Sports turf management, landscaping, and ground care are some of the prominent applications in the soil monitoring market, which could see high growth in the coming years.
Americas to hold the largest share of the soil monitoring market during the forecast period
The Americas is expected to hold the largest share of the soil monitoring market during 2022–2027. The deployment of ground-based monitoring systems as well as the increasing popularity of sensing and imagery systems is quite high in the US and Canada, due to which the region holds a large market share. South American countries such as Brazil and Argentina have large-sized farms in abundance, where the government reforms to develop digital and sustainable agriculture reap significant returns. The adoption of telematics and robotics in the Americas is growing substantially and is laying down the growth path for the development of the soil monitoring market.
This report profiles the key players such as Stevens Water Monitoring Systems (US), SGS Group (Switzerland), METER Group (US), Element Material Technology (UK), The Toro Company (US), Campbell Scientific (US), Sentek Technologies (Australia), Spectrum Technologies (US), Irrometer (US), and CropX Technologies (Israel).
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