The global soil monitoring market size is expected to progress at a compound annual growth rate (CAGR) of 14.1% from 2022 to 2027 and be worth USD 912.5 million by 2027.
Soil monitoring aid in better farming management and helps the farmers gain an understanding of the growing conditions for their crops, vegetables, flowers, or fruits. Monitoring the soil has become essential for farmers to get optimal crop production, predict the water resource, for the early diagnosis of plant diseases, and forecast crop production. Lack of proper farming management, farmers in countries such as India, are getting sub-optimal yields. The data generated by the soil monitoring system offers a wide range of opportunities to the farmers, such as reduced risks and increased profit.
Market Drivers
The increasing technological advancements in the agriculture industry primarily drive the soil monitoring market growth. Remote sensing technologies, software applications, communication systems using ICT, telemetrics positioning technologies, hardware & support system, and data analytics solutions for agriculture are widely adopted technological solutions by the farmers. By leveraging the advantage of technological developments, the farmers are getting numerous benefits such as less water consumption, reduced negative impact on the ecosystem, and improved efficiency. In addition, the increasing need to preserve soil quality has become extremely important, which is further accelerating the growth rate of the soil monitoring market. If soil health is not preserved, the soil becomes unhealthy and polluted, resulting in the loss of nutrients that play a crucial role in plant growth. Soil monitoring helps assess the soil quality's condition and helps the farmers with the data to take adequate precautions and actions to improve the condition.
The growing population worldwide is anticipated to promote the soil monitoring market growth during the forecast period. The increasing population demands increased production of food. To keep the food production levels high and sustainable, the soil quality should be in optimal condition, and the quality evaluation should be done at regular intervals. The required check-ups around soil quality are accelerating the need for soil monitoring and boosting the market growth. The environmental policies of governments around ecological stability are another major factor escalating the soil monitoring market’s growth rate.
Furthermore, farm activity increase from various world geographies, growing adoption of soil monitoring by farmers, and growing penetration of technology in the agriculture industry are estimated to promote the soil monitoring market growth during the forecast period.
Market Restraints
The affordability issues associated with the components of soil monitoring, such as sensors and systems, and poor adoption levels of advanced farming technologies in some geographies worldwide are majorly inhibiting the market’s growth rate. Furthermore, the challenges associated with soil monitoring due to the spatial variability of soil are another significant factor hampering the market's growth. In addition, soil monitoring requires technical knowledge to process the data and understand the insights. The lack of this expertise among farmers in many locations restricts the adoption of soil monitoring and dampens the soil monitoring market growth.
Market Opportunities
Growing investments from governments and market participants to conduct R&D, growing adoption of digital farming, and increasing involvement of technologies to enhance farming techniques are anticipated to open a vast range of opportunities to the soil monitoring market. Growing efforts from the market participants to figure out ways to boost crop productivity further favor the market to expansion. The increasing contribution from the governments to shift the farmers towards sustainable agriculture practices from a majority of the farmers across the world is anticipated to provide lucrative possibilities to the market.
China being the origin, the deadly coronavirus reached almost all countries worldwide and significantly impacted individuals, businesses, and governments. The U.S., India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the most affected countries due to COVID-19 and suffered severe life loss, health loss, and economic loss. To control the virus spread, countries closed their borders and gave restrictions on traveling, ordered businesses to have a temporary shutdown, and asked the public to maintain social distancing. Due to these actions, the supply chain industry is disrupted and slightly negatively impacts the soil monitoring market growth in the initial days. However, the soil monitoring market has picked up and shown a strong recovery with the new normalization. The adoption of soil monitoring systems and sensors has seen a spike post-lockdown. Many farmers started taking advantage of farming technological solutions to make the best use of optimal use of available resources and with limited labor.
Global Soil Monitoring Market Key Developments
Segmentation Analysis
Based on the system type, the ground-based monitoring segment captured the largest share of the global soil monitoring market in 2021, and the domination of this segment is estimated to continue throughout the forecast period. The adoption of ground-based monitoring systems has seen a spike in developed countries, one of the key factors promoting the segment’s growth. In addition, growing awareness among farmers regarding the benefits associated with ground-based monitoring systems further accelerates the segment's growth. These systems aid the farmers in providing site-specific inputs to their crops, which helps to enhance the production and quality of the crop.
Based on the offering, the hardware segment is anticipated to account for the most significant global soil monitoring market share during the forecast period. The demand for hardware components such as sensors and devices is growing significantly, and the adoption has recently increased among farmers, resulting in the segment’s growth.
On the other hand, the services segment is forecasted to showcase the highest CAGR based on offering in the global soil monitoring market during the forecast period. The rising involvement of IoT in farming and the increasing adoption of connected farming have accelerated the growth of services in the global soil monitoring market. In addition, the growing adoption of technological advancements to better the quality of crops and soil is enhancing the demand for services segment in the farming industry.
Based on the application, the agricultural segment led the soil monitoring market in 2021 owing to the significant adoption of soil monitoring in the agricultural segment to accelerate crop production and limit water usage. In addition, the growing adoption of soil monitoring devices is attributed to the increasing government initiatives and growing awareness around sustainable agriculture practices among farmers.
On the other hand, the non-agricultural segment is anticipated to grow the fastest in the global soil monitoring market during the forecast period. This is because the usage of soil monitoring is increasing in non-agricultural applications such as golf courses, sports grounds, and others. In addition, the increased awareness of water practices and advanced technological methods drives the growing adoption of soil monitoring devices among non-agricultural lands.
North America was the largest region in the global soil monitoring market in 2021 and accounted for a 41.8% global market share 2021. Factors such as growing awareness and adoption of soil monitoring to boost crop production, increasing adoption of technological farming solutions, and growing adoption of digital agriculture are a few factors promoting the soil monitoring market in North America. Leading market participants in the global soil monitoring market are operating from North America; the presence of these companies in this region is expected to favor the market growth significantly. The U.S. had the dominating share in the North American region in 2021. The United States is one of the early adopters of soil monitoring technology worldwide. On the other hand, the Canadian soil monitoring market is anticipated to register a healthy CAGR during the forecast period owing to the convenient environmental policies from the Canadian government.
The European region was the second-largest regional market worldwide in 2021. The next-generation farming techniques in the European region stimulate the usage of soil monitoring devices, sensors, and equipment. Therefore, the European region is anticipated to showcase a promising CAGR during the forecast period. As a result, countries such as France, Germany, the UK, Italy, Spain, and Poland from Europe are anticipated to grow considerably in the coming future.
However, the soil monitoring market in the Asia-Pacific region is anticipated to showcase the fastest CAGR in the global market. The Asia-Pacific is experiencing rapid adoption of digital farming solutions. The investments are increasing significantly from developing countries such as India and China to welcome the next-generation farming practices. In addition, the governments are putting significant efforts into educating farmers about water conservation and encouraging sustainable agriculture practices.
Global Soil Monitoring Market Key Players
Frequently Asked Questions
Between 2022 to 2027, the global soil monitoring market is anticipated to grow at a CAGR of 14.1%.
Growing awareness regarding soil monitoring and technological advancements are boosting the soil monitoring market.
The ground-based monitoring systems segment accounted for most of the soil monitoring market share by type in 2021.
North America had the highest global soil monitoring market share in 2021.
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 are some of the promising companies in the market.
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