United States, Rockville, MD , April 26, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Fact.MR, a market research and competitive intelligence provider, the global soil analysis technology market is estimated to surpass a market valuation of US$ 684 Bn in 2022.
North America and Europe, have captured significant market shares of 22.6% and 31.7%, respectively in 2022. However, Europe is estimated to lose 24 BPS while the North America market is likely to expand at a CAGR of 5.6% through 2032.
Onsite tests analyze soil and recommend the actions required, such as adding nutrients, changing crops, or raising soil pH, and the major target groups for mobile soil testing laboratories are open field farmers who prefer to have soil tests at lower costs carried out when the mobile labs arrive through their neighborhood.
Browse in-depth TOC on "Soil Analysis Hardware and Devices Demand"
91 Tables and
158 Figures
170 Pages
Get Sample PDF of this report at:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7266
According to a recent report by the Food and Agriculture Organization (FAO) of the United Nations, around 38% of the land across the world serves agricultural purposes, of which, around 10% is used in crop production.
High demand for agricultural products will lead to an increase in the agricultural area. Advancements in science and technology have improved agricultural soil analysis techniques. Improvement of soil quality and soil characteristics for advanced farming will thereby drive demand for soil analysis technology.
With the rise in industrial infrastructure in rural areas across the globe, demand for soil testing equipment is likely to grow due to concerns about industrial runoffs and waste.
To learn more about Soil Testing Equipment Market, you can get in touch with our Analyst at
https://www.factmr.com/connectus/sample?flag=AE&rep_id=7268
Key Takeaways from market Study
- The global soil analysis technology market is projected to expand at a CAGR of 6.3% by value during the forecast period of 2022 – 2032.
- The market is projected to grow 1.8X over the forecast period.
- The global market for soil analysis technology created an absolute $ opportunity of US$ 57.9 Mn during the historical period of 2017 – 2021.
- Europe is projected to create the highest absolute $ opportunity of US$ 191.3 Mn during the forecast period.
- Retail users / farmers, as end users, are projected to grow at a CAGR of 6.8% and account for 62.9% market share by 2032.
- Nutrient testing application accounted for 36.5% of soil analysis technology demand in 2021.
- Under technology, the hardware and devices segment is projected to grow 1.9X and account for 64.9% market share by 2032.
“Increased spending on development of agriculture fields likely to create ample market opportunities over the coming years,” says a Fact.MR analyst
Get Customization on this Soil Analysis Technology Demand for Specific Research Solutions at
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7268
Winning Strategy
The methodology of collaboration with retailers and agriculture services providers has become a popular strategy followed by various soil analysis technology companies aiming at the establishment of a strong customer base. Few players have strengthened their consumer base by streamlining their product lines as per end-user demand. Many companies are providing mobile soil lab services where farmers get samples to the lab when the vehicle arrives in their village.
Constructive collaborations and partnerships is the go-to strategy adopted by service vendors to create consistency in demand. Moreover, technological advancements have been the backbone for capturing a higher market share, owing to the reliability, accuracy, and timely attributes of these services.
Demand for soil analysis technology is catered by tier-1 companies such as ALS Ltd, Merck KgaA, Eurofins Scientific, SGS SA, Thermo Fisher Scientific Inc., Bureau Veritas, Agilent Technologies, Inc., etc.
Key Developments:
- In 2021, AgroLab Inc. was acquired by Matrix Sciences Inc. This acquisition was to provide an expansion of services such as soil testing, pesticide testing, and more.
- In 2021, Waters Agricultural Laboratories, Inc. acquired a license for the Be-Crop, Biome Makers soil biology test.
- In 2019, ALS Limited divested its China-based environmental business to SUEZ Company.
To understand how our report can bring difference to your business strategy, Purchase a copy of this Soil Fertility Testing Demand report at
https://www.factmr.com/checkout/7268
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global soil analysis technology market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of technology (hardware and devices, applications, and platforms), application (safety testing (heavy metal testing, toxin testing, pathogen testing, and pesticides testing), soil fertility testing, nutrient testing, and quality assurance), and end user (retail users / farmers, agriculture institutes and research centers, universities and colleges, corporates & companies, and government departments), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Check out more studies related to Technology Industry, conducted by Fact.MR:
Prominent Growth Drivers Influencing EDA Tools Market Growth - According to company analysts, the growth of electronic design automation is expected to be driven by the ever increasing integration of power electronics into these devices.
Factors Hampering the Digital Transformation Market - As per the Trustwave Global Security Report 2020, the volume of cyberattacks and security breaches on the cloud account for 20%. With the rising number of IoT-based endpoints, privacy and security issues are expected to increase since these endpoints are more vulnerable to cyberattacks.
Sales Analysis of Intelligent Virtual Assistant Market for 2022 to 2032 - One of the leading reasons for the global intelligent virtual assistants industry is the rising use of intelligent virtual assistants. Quick response, improved data collecting, and less reliance on customer assistance are just a few of the advantages of using an intelligent virtual assistant.
What are the Emerging Trends in the Interactive Projector Market? - The increased demand for interactive projectors to deliver presentations and communicate information to patients in the corporate and healthcare sectors is projected to boost the interactive projectors market growth.
About the ICT Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned ICT team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the prominent end use industries across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-1583
