The soil monitoring market is estimated to be worth USD 370 million in 2020 and projected to reach USD 680 million by 2025, at a CAGR of 12.9%. Concerted efforts of governments and companies to promote sustainable agriculture practices, pressing need to preserve soil quality, stringent government regulations pertaining to ecological stability, and growing need for improving farm productivity to feed rising population are some of the driving factors for the soil monitoring market.
Ground-based monitoring systems were the most extensively used technology in the global soil monitoring market in 2019
Ground-based monitoring systems accounted for the largest share in the soil monitoring market in the year 2019. The high level of adoption of sensors and other soil monitoring devices has been on the rise among the progressive farmers across the globe. This is due to the several benefits provided by these sesors which enables th growers to provide site specific inputs to the crops. The ground-based monitoring systems is expected to get a further boost during the forecast period. The market for telematics and robotics is expected to grow at the highest rate during the period 2020-2025. The rising labor crisis in most of the countries and remote monitoring application could lead to a demand for the telematics and robotics in the soil monitoring market.
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Hardware offerings to hold larger market share during forecast period
The hardware offering are expected to hold the largest market share in the soil monitoring market during the forecast period. This is due to the increasing penetration of soil sensors, soil scanners, weather stations, and other devices for soil monitoring among the farmers. The resulting penetration could boost the soil monitoring market for hardware further to grow at a significant rate. The progressive farmers in various parts of the world has witnessed several benefits of soil monitoring which has increased the adoption of soil monitoring sensors and devices.
Americas held the largest market for the soil monitoring in 2019 and is expected to dominate during the forecast period
Americas held the largest share in the soil monitoring market in 2019 and could dominate the market during the forecast period. The presence of agri-tech companies such as The Toro Company, Campbell Scientific, Stevens Water Monitoring Systems, etc. is the prominent reason for the large market share in the soil monitoring market. However the APAC region is expected to witness a high growth during the forecast period owing to the high degree of adoption of agriculture technology in the countries like Australia, New Zealand and Japan with emerging countries like India and China investing a huge amount in the digitization of agriculture sector.
The major players in the soil monitoring market are Stevens Water Monitoring Systems (US), SGS Group (Switzerland), METER Group (US), Element Materials Technology (UK), and The Toro Company (US).