Chicago, Dec. 13, 2022 (GLOBE NEWSWIRE) -- According to the MarketsandMarkets™, the 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% from 2022 to 2027.
The growth of the soil monitoring market is influenced by different trends, such as technological advancements and their adoption, climate changes, and varying agricultural output. The booming global population, surging demand for agricultural products, changing climate conditions, concerns related to soil quality, and technological developments in the agriculture sector have opened a new set of opportunities for players in the agriculture value chain. In addition, the emergence of technologies such as remote sensing, smart sensors, and IoT, along with data analytics, has brought forth a quantum leap in the soil monitoring market.
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Among system types, the ground-based monitoring systems segment is projected to account for the largest share in the soil monitoring market during the studied period. Ground-based monitoring uses various standalone systems, devices, sensors, and scanners to measure various metrics of the soil, such as moisture, pH, nutrient, temperature, and salinity. It uses nutrient sensors, moisture sensors, salinity sensors, temperature sensors, probes, soil scanners, and other handheld devices to gather soil or field-level information.
Based on offering, the hardware segment is forecasted to be the largest in terms of market share. This includes various types of sensors, such as soil moisture sensors, soil nutrient sensors, pH sensors, salinity sensors, and temperature sensors. Hardware components form the core structure of a soil monitoring system and have contributed significantly to the soil monitoring market. Hardware devices enable growers and end users to measure various metrics of the soil to provide specific inputs to the soil.
Among applications, the agricultural segment is anticipated to gain a larger market share during the review period. Agriculture is the primary application of soil monitoring devices, sensors, components, and equipment. Early adoption of soil sensors in irrigation scheduling in farms has been contributing to the growth of this segment in the soil monitoring market. Using soil sensors in agriculture leads to the optimization of various inputs usage, increase in product yield, production of high-quality crops, and reduction in environmental degradation through resource depletion.
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.
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Europe is among the key regions for the soil monitoring market, driven by the increasing support by governments and a higher rate of adoption of modern technologies and equipment. It is projected to reach USD 326.6 million by 2027 growing at a CAGR of 14.1% during the forecast period. The European market is further segmented into France, Germany, the UK, Italy, Spain, Poland, and the Rest of Europe, which mainly includes the Netherlands, Denmark, and Finland. Developed countries have progressed in adopting precision agriculture technology, exhibiting high scope of growth for soil monitoring. The use of digital farming techniques has become more prominent in Europe owing to advancements in the field of sensors, robotics and automation, and remote sensing technology.
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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