Soil Monitoring Market Manufacturers, Type, Application, Regions and Forecast to 2027
The rising need to improve farm productivity and preserve soil quality is driving the demand of the market.
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 soil monitoring market can be attributed to the increasing scarcity of water and changing environmental scenario. Increasing government initiatives regarding water conservation have resulted in the growing need for soil monitoring devices. The growing implementation of information communication technologies and the Internet of things is expected to drive the growth of the soil monitoring systems over the forecast period.
Shifting of preferences towards smart irrigation techniques has resulted in the growing usage of soil monitoring systems. Increasing need to know the optimal water and nutrient level required for plantation has boosted the utilization of the soil monitoring systems for agricultural purposes. Increasing investments of the government for the advancements of the agricultural sector through R & D activities are expected to boost the soil monitoring systems. The limited availability of natural resources such as arable land and freshwater has resulted in the growth of the soil monitoring systems.
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.
Key Highlights From The Report
- In November 2019, Mammoet, who is a global market leader for lifting and transporting heavy objects, entered into a partnership with the SGS group. SGS Group is helping the company with the construction of a large oil refinery in Nigeria.
- The ground-based monitoring system segment held the largest market share of 55.2% in 2019. Growing adoption of the Ground-based Monitoring Systems among the skilled farmers in the developed economies to increase agricultural productivity and enhance crop quality is expected to drive the growth of the segment.
- Services are forecasted to grow with the fastest CAGR of 13.8% over the forecast period. Increasing utilization of the Internet of things (IoT) enabled devices for agricultural and non-agricultural purposes, and the growing number of connected agriculture devices is expected to drive the growth of the services segment in the soil monitoring market.
- The agricultural segment accounted for the largest market share in 2019. The rising global population, along with the rising demand for food, are expected to increase the adoption of smart agricultural practices.
Contact for more Information: https://www.emergenresearch.com/industry-report/soil-monitoring-market