How Has the Soil Monitoring Market Evolved Historically and What is its Current Size?
The soil monitoring market has seen considerable growth due to a variety of factors.
• The size of the soil monitoring market has seen significant expansion in the recent past. The figures forecast that the market will escalate from $0.59 billion in 2024 to $0.67 billion in 2025, witnessing a compound annual growth rate (CAGR) of 14.0%.
The historical growth has been influenced by factors such as an increased necessity for soil quality preservation, escalating requirements for agricultural productivity, an upswing in awareness regarding climate change and environmental decay, and the emergence of precision farming.
What is the Forecasted Market Size and CAGR for the Soil Monitoring Market?
The soil monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• We anticipate a swift expansion in the soil monitoring market in the forthcoming years, potentially reaching $1.11 billion in 2029 with a compound annual growth rate (CAGR) of 13.6%.
This growth in the projected timeframe is credited to factors such as the expansion of hardware-oriented capabilities, extensive use of soil sensors, growing demand for advanced farming methods, population growth, and an upswing in agricultural production. We identify the emergence of several discernible trends over the forecast period including IoT-integrated farming solutions, the integration of contemporary international soil monitoring methods, inventive fluid management systems, digital agricultural practices, and the incorporation of soil-based robotics.
What Key Factors and Trends Are Driving The Growth Soil Monitoring Market?
The soil monitoring market's development is likely to be spurred by a burgeoning agricultural industry. The agricultural industry, a sector of the economy that accounts for the creation, processing, and distribution of crops, livestock, and other agricultural commodities, is experiencing significant growth. This growth is attributed to changes in eating habits, heightened awareness concerning environmental issues, and augmented investments in agricultural research, development, and infrastructure. Soil monitoring aids in maximizing agricultural output by offering real-time soil condition data, enabling precise irrigation, fertilization, and crop health management. As an example, the Department for Environment Food & Rural Affairs reported in February 2024 that the average farm business income (FBI) for all UK farms witnessed a considerable increase from $50,461 (£46,500) in 2020/21 to $78,133(£72,000) in 2021/22. Additionally, the UK's total income from farming (TIFF) in 2022 touched $6.61 billion(£7.9 billion), marking a 17% increase from 2021's $1.43 billion(£1.1 billion). Hence, the agriculture sector's growth is a driving factor for the enhancement of the soil monitoring market.
What Are The Market Segments In The Soil Monitoring Market?
The soil monitoringmarket covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By System: Sensing And Imagery, Ground-Based Monitoring System, Other System Types
3) By Sector: Agriculture, Non-Agriculture
Subsegments:
1) Hardware: Soil Sensors, Data Loggers, Remote Sensing Equipment
2) Software: Soil Analysis Software, Data Management Software, Decision Support Systems
3) Services: Soil Testing Services, Consultation Services, Installation and Maintenance Services
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What Trends Are Reshaping The Future Of The Soil Monitoring Market?
Key players in the soil monitoring market, like GroGuru, Inc, are evolving their offerings by creating state-of-the-art tools such as wireless soil sensor probes, designed to accurately track conditions of soil moisture and temperature. Wireless soil sensor probes are innovative devices that instantly deliver key data about soil moisture, temperature, and salinity, transforming it wirelessly for utilization in precision farming. In April 2024, GroGuru, Inc., a leading U.S. tech firm offering water monitoring and management services, introduced such a wireless sensor. It brought a novel solution by allowing uninterrupted root zone monitoring for annual crops and gathering real-time soil condition data. This sensor operates wirelessly, is easy to install and does not require frequent and costly battery replacements, ensuring longer periods of low-maintenance use. This pioneering tool aids precise irrigation, thus enabling farmers to maximise water use, increase crop yield and receive crucial field data.
Who Are the Key Players In The Soil Monitoring Market?
Major companies operating in the soil monitoring market are:
• Element Materials Technology Group Limited
• SGS Group
• Hoskin Scientific Ltd.
• HydroPoint Data Systems Inc.
• Campbell Scientific Inc.
• Onset Computer Corporation
• METER Group Inc.
• Royal Eijkelkamp
• CropX Technologies Ltd.
• ICT International Pty Ltd.
• Advanced Geosciences Inc.
• Pessl Instruments GmbH
• Imko Micromodultechnik GmbH
• Dynamax Inc.
• Soil Scout Ltd.
• GroPoint
• Delta T Devices Ltd.
• AquaCheck
• Caipos GmbH
• Soilmoisture Equipment Corp.
• AquaSpy Inc.
• Irrometer Company Inc.
What Are The Regional Insights Into The Soil Monitoring Market?
North America was the largest region in the soil monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soil monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
