Soil Monitoring Market Size Worth USD 872.3 Million by 2027 | Industry Revenue Growth is Driven by Increasing Utilization of Advanced Technologies to Increase the Efficiency of the Traditional Agricultural Practices, says Emergen Research

Vancouver, British Columbia, June 08, 2021 (GLOBE NEWSWIRE) -- The global Soil Monitoring Market will be worth USD 872.3 Million by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing utilization of advanced technologies to enhance the efficiency of traditional agricultural practices. High labor cost due to the declining agricultural workforce is expected to increase the adoption of soil monitoring devices in the agricultural sector. The increasing installations of the Internet Of things (IoT) devices in the agricultural and non-agricultural systems are projected to fuel the growth of the industry. The limited availability of natural resources such as arable land and freshwater has resulted in the growth of the soil monitoring systems.

Lack of skill sets and technical knowledge among farmers, high cost of the soil monitoring systems, and the preference towards traditional farming practices in the emerging economies might restrain the growth of the market.

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Key Highlights From The Report

• In June 2019, Stevens Water Monitoring Systems Inc. completely acquired Structure Monitoring Inc, which provides intelligent Internet of Things (IoT) solutions for monitoring, analyzing, and managing critical infrastructure. The acquisition is expected to enhance the overall power of Stevens'-Connect, a cloud-based acquisition, and operational platform.
•  The Ground-based monitoring systems are forecasted to grow with the fastest CAGR of 13.4% over the forecast period. The increasing labor cost due to the declining agricultural workforce in several countries has driven the utilization of ground-based monitoring systems.
• The Hardware segment held the largest market share of 53.3% in 2019. The rising adoption of soil scanners, soil moisture sensors, and weather stations has driven the growth of the hardware segment of the soil monitoring market.
• The Non-Agricultural segment is forecasted to be the fastest-growing segment over the forecast period. The Golf Courses and Sports ground, Turf & Landscapes are increasingly adopting soil monitoring systems to enhance the efficiency of the irrigation systems.
• North America accounted for the largest market share of the Soil Monitoring market in 2019. The increasing adoption of the Sensing and Imagery Systems and Ground-based Monitoring Systems for the enhancement of agricultural productivity is driving the demand of the market in the region.
• Key participants include The Toro Company, Stevens Water Monitoring Systems Inc., Element Materials Technology, Sgs Group, Campbell Scientific, Meter Group, Sentek Technologies, Cropx Technologies, Spectrum Technologies, and Aquamonix, among others.

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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)
  • Software
  • Hardware
  • Services   
• Application Outlook (Revenue, USD Million; 2017-2027)
  • Non-Agricultural
  • Agricultural

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• Regional Outlook (Revenue, USD Million; 2017-2027)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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