At a 14.6% compound annual growth rate, the soil monitoring market is expected to reach USD 1,088 million by 2027 from its estimated USD 551 million in 2022. The market for soil monitoring is fueled by a number of factors, including government and corporate initiatives to support sustainable agricultural practices, the urgent need to maintain soil quality, strict ecological stability regulations, and the growing need to increase farm productivity to feed the growing population.
To know more get PDF Copy: https://www.marketsandmarkets.....com/pdfdownloadNew.a
The soil monitoring market involves the use of various technologies and devices to assess and manage soil health, moisture levels, nutrient content, and other relevant parameters. Here are some key aspects associated with the soil monitoring market:
Technology Advancements: The market has seen advancements in sensor technologies, IoT (Internet of Things) integration, and data analytics. These technologies help farmers and agricultural professionals make informed decisions regarding crop management.
Increasing Awareness about Soil Health: Growing awareness about the impact of soil health on crop yield and environmental sustainability has driven the adoption of soil monitoring solutions. Farmers are increasingly recognizing the importance of maintaining optimal soil conditions for better agricultural productivity.
Government Initiatives and Regulations: Some regions have implemented policies and regulations that promote sustainable agriculture and soil conservation. This has further contributed to the adoption of soil monitoring technologies.
Precision Agriculture: Soil monitoring is a crucial component of precision agriculture, where data-driven insights are used to optimize farming practices. This includes precise application of fertilizers, irrigation, and other inputs based on real-time soil conditions.
Key Players: The soil monitoring market includes a variety of players ranging from established agricultural equipment manufacturers to specialized technology companies. Companies involved in soil monitoring may provide sensors, data analytics platforms, and other related services.
Global Reach: The soil monitoring market is not limited to specific regions, as soil health is a concern for farmers worldwide. Different regions may have specific needs and challenges, leading to the development of a diverse range of soil monitoring solutions.
Market Driver: Growing need for improving farm productivity to feed the rising population
Progressive farmers have expressed interest in soil monitoring in the US, Canada, Netherlands, Israel, Denmark, and Australia. Farmers generally embrace soil monitoring as a means of achieving maximum yields and ideal crop quality when it comes to irrigation techniques. When fields are overirrigated, a shallow root pattern forms, affecting the nutrients that wash out of the soil and degrade crop quality. With the world population growing at an alarming rate and the potential for food shortages, soil monitoring has become increasingly vital. The farming community is under tremendous pressure to increase agricultural output in order to address the danger of food security for future generations. Because inputs must be closely monitored, technology aids in increasing crop yield per hectare.
Opportunity: Huge government spending on agriculture R&D
By keeping an eye on their soil, farmers may reduce their resource usage and save money on things like pesticides, fertilizers, and water costs. But dependable soil monitoring devices are expensive; producers would have to choose between price and reliability otherwise. Purchasing soil monitoring equipment requires a substantial financial investment from farmers. Small landholders find it difficult to purchase soil monitoring sensors and equipment due to the high upfront expenses needed, but large commercial farmers can afford the high cost of these instruments to reap the benefits. Marginal farmers can benefit from government incentives, subsidies, and aid from any donor community if they use cutting-edge technologies for soil monitoring. Public sector expenditures on agricultural research and development have elevated the US agriculture industry.
The European region held the second-largest share in the soil monitoring market in 2021 after the Americas and is expected to maintain its position during the forecast period. 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. Soil monitoring helps farmers to utilize the technology to improve farm productivity; additionally, sensors are useful in saving water resources in other applications such as sports turf, residential irrigation, and landscaping and ground care. EU countries have signed a Declaration of Cooperation on a smart and sustainable digital agriculture future and take action to support the digitalization of agriculture. However, the APAC region is expected to witness fast growth during the forecast period owing to the high degree of agriculture technology adoption in Australia, New Zealand, and Japan, with emerging countries like India and China investing a huge amount in the digitalization of the agriculture sector.
Book a meeting with our experts to discuss your business needs:
https://www.marketsandmarkets.....com/speaktoanalystNe
(use Corporate E-Mail-Id to receive a quick response)
Key industry participants presented:
The major players in the soil monitoring market are Stevens Water Monitoring Systems (US), SGS Group (Switzerland), METER Group (US), Element Materials Technology (UK), The Toro Company (US), Campbell Scientific (US), Sentek Technologies (Australia), Spectrum Technologies (US), Irrometer (US), and CropX Technologies (Israel).
