The global soil monitoring system market size is expected to reach from $529.2 million in 2019 to $853.4 million by 2027, growing at a CAGR of 6.7% from 2020 to 2027. Soil monitoring systems consists of devices that perform different functions such as read/store data, soil sensing, and transmitting data via transmitter to the computers. The soil monitoring data helps in analyzing the soil conditions thereby enabling decision making. It is popularly used in farming where soil condition monitoring sensors enable the farmers to collect data about temperature, rainfall, and other metrics over time to track trends as well as predict irrigation needs. Measuring soil parameters prior to plantations through monitoring systems can decrease energy costs & water usage, and increased yield. The soil monitoring systems offer potential benefits such as increased ability to manage growth rates, quality, efficiency and reduced disease occurrence; and monitoring of irrigation management costs. These systems have wide applications in agricultural practices, golf courses, research laboratories, and urban farming communities.
Growing demand to improve farm productivity to feed extensively rising population and the rise in popularity of precision agriculture and fertility management services are the major factors that drives growth of the market. In addition to this, availability of technologically advanced soil monitoring systems at affordable prices fuels the market growth. Also, surge in government investments on agriculture research and development (R&D) fuels the market. However, lack of technical skills and awareness related to soil monitoring may hinder the market growth to some extent. On the contrary, rise in adoption of soil monitoring in emerging countries is anticipated to provide lucrative opportunities for the market growth. In addition, emergence of advanced technologies such as data analytics and IoT in soil monitoring is expected to be opportunistic for growth of the soil monitoring market during the forecast period.
The global soil monitoring system market is segmented on the basis of component, connectivity, application, and region. On the basis of component, the market is bifurcated into hardware, software, and service. By connectivity, the market is classified into wired and wireless. On the basis of application, it is divided into agriculture, archaeology, research, and construction & mining. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that have major global Soil Monitoring System Market share include Campbell Scientific, CropX Technologies, Earth Observing System, Element Material Technology, Manx Technology Group, METER Group, Inc., SGS Group, Spectrum Technologies, Stevens Water Monitoring Systems Inc., and The Toro Company, which are profiled in this report. The global soil monitoring industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market growth.
SOIL MONITORING SYSTEM MARKET SEGMENTATION
By Component
- Hardware
- Software
- Service
By Connectivity
- Wired
- Wireless
By Application
- Agriculture
- Archaeology
- Research
- Construction & Mining
By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa
Key Companies
- Campbell Scientific
- CropX Technologies
- Earth Observing System
- Element Material Technology
- Manx Technology Group
- METER Group, Inc.
- SGS Group
- Spectrum Technologies
- Stevens Water Monitoring Systems Inc.
- The Toro Company