Soil monitoring systems consist of instruments that can read and store data, sense soil, and communicate data to computers. This information is used to make decisions about the state of the soil. These systems are used in a variety of settings, including farming, golf courses, research facilities, and urban farming neighbourhoods. The market for soil monitoring systems is expected to grow because of increased demand for increased farm productivity, as well as the increasing popularity of precision agriculture and fertility management services. Additionally, rising public spending on agricultural research and development is helping to fuel the market.
The market for soil monitoring is projected to grow, but this growth could be hampered by a lack of technical know-how and awareness about the subject. On the other hand, it is expected that increasing the adoption of soil monitoring systems in developing nations will provide lucrative market opportunities. Several trends, including technological development and its uptake, climate changes, and variable agricultural output, are factors that impact the market's expansion. Opportunities have arisen for those involved in the agriculture value chain as a result of the growing global population, soaring demand for agricultural products, shifting climatic conditions, and technological advancements in the industry. The global soil monitoring market is growing rapidly, due to the introduction of technologies like remote sensing, smart sensors, and the internet of things. This is due to the need to preserve soil quality, government regulations pertaining to ecological stability, and the need to increase farm productivity to feed the growing population. Sensors, hardware, and software for soil monitoring are becoming more widely used due to developments in telematics, sensing, and imagery systems.
The COVID-19 outbreak has currently limited R&D in the electronics and semiconductor industries and has resulted in the closure of various manufacturing locations across the globe. The production capacity of sensor makers is hampered by a lack of or unavailability of raw materials and components as a result of supply chain disruption. Moreover, customers' declining purchasing power as a result of the unstable economy hinders the market's expansion. The market for soil monitoring systems is only expected to be negatively impacted by COVID-19 for a brief period of time, there should be a strong demand for the installation of IoT devices across agricultural farms all over the world to enable the most efficient use of resources with fewer demands for labour in the fields.
Soil Monitoring Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Campbell Scientific Inc., CropX Inc., Earth Observing System, Element Materials Technology, Manx Technology Group, METER Group Inc., SGS SA, Spectrum Technologies Inc., Stevens Water Monitoring Systems Inc., The Toro Company.
Global Soil Monitoring Market Segmentation:
By Component: Based on the Component, Global Soil Monitoring Market is segmented as; Hardware, Software, Service
By Connectivity: Based on the Connectivity, Global Soil Monitoring Market is segmented as; Wired, Wireless
By Application: Based on the Application, Global Soil Monitoring Market is segmented as; Agriculture, Archaeology, Construction& Mining, Research
By Region: The Global Soil Monitoring Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World based on geography. The global soil monitoring market is growing rapidly, with strong demand for precision farming techniques and sustainable farming practices. North America is the leading region in the market, due to the large-scale adoption of advanced technologies in the agriculture sector. The European soil monitoring market is growing rapidly, as countries in the region adopt smart agriculture practices and sustainable farming techniques. The Asia Pacific soil monitoring market is projected to grow fastest, due to the high demand for precision farming technologies in countries such as China, India, and Japan. Latin America is a large market for soil monitoring, as demand for food and agriculture products continues to increase. Brazil, Argentina, and Mexico are the major contributors to the market in the region, and technological advances, such as IoT and big data, are driving growth. Governments are also promoting advanced farming technologies, which is driving the market growth.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.