Soil Monitoring System Market

The global soil monitoring system market size is expected to reach from $529.2 million in 2019 to $853.4 million by 2027, growing at a CAGR of 6.7% from 2020 to 2027. 

Research segment impacted the soil monitoring market negatively in the COVID-19 scenario.

Soil monitoring systems consists of devices, which performs different functions such as read/store data, soil sensing, and transmitting data via transmitter to the computers. The soil monitoring data helps in analyzing the soil conditions, thereby enabling decision making. These systems have wide applications in agricultural practices, golf courses, research laboratories, and urban farming communities.

Growing demand to improve farm productivity to feed extensively rising population and the rise in popularity of precision agriculture and fertility management services are the major factors that drives growth of soil monitoring system market. In addition to this, availability of technologically advanced soil monitoring systems at affordable prices fuels the market growth. Also, surge in government investments on agriculture R&D fuels the market. However, lack of technical skills and awareness related to soil monitoring may hinder the market growth to some extent. On the contrary, rise in adoption of soil monitoring in emerging countries is anticipated to provide lucrative opportunities for soil monitoring system market. 

The COVID-19 outbreak has currently restrained R&D activities in the electronics & semiconductor industry and has led to shutdown of several manufacturing facilities globally. Shortage or unavailability of raw materials and components, owing to supply chain disruption hinders production capacity of sensor manufacturers. Further, decline in purchase capability among consumers, owing to uncertain economy further hinder the market growth. However, the negative impact of COVID-19 on the soil monitoring system market is expected to be there for a short period of time, and by early 2021 the market is anticipated to observe robust recovery rate along with the extensive demand for installation of IoT devices across the agricultural farms around the globe to enable optimal usage of resources with reduced requirements of the labor in the fields.

The global soil monitoring system market is segmented on the basis of component, connectivity, application, and region. On the basis of component, the market is classified into hardware, software, and service. By connectivity, the market is bifurcated into wired and wireless. On the basis of application, it is divided into agriculture, archaeology, research, and construction & mining. Region wise, the soil monitoring system market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Top Impacting Factors

The factors such as growing demand to improve farm productivity to feed extensively rising population, the rise in popularity of precision agriculture and fertility management services, and availability of technologically advanced soil monitoring systems at affordable prices are the major factors that drives growth of the market. However, lack of technical skills and awareness related to soil monitoring may hinder the market growth to some extent. 

Some major factors that impact the market growth include:

Growing popularity of precision agriculture and fertility management services 

Precision agriculture, also known as smart farming is the popular method that enables farmers to minimize input costs while maximizing yields using minimal resources such as, water, fertilizer, and seeds. The soil monitoring technologies help to map the fields and the deployment of soil monitoring sensors enables farmers to understand their crops at the micro scale by reducing impacts on the environment. In addition, various governments are taking measures to meet surge in food demand. For instance, the NASA, U.S. Department of Agriculture, and National Oceanic and Atmospheric Administration (NOAA) contribute to precision farming. Also, in India, the government provides 100% cost subsidy to Precision Farming Development Centers (PDFCs). These measures fuels the popularity of precision farming, further fueling the soil monitoring system market. 

Rise in adoption of soil monitoring in emerging countries 

The countries across Asia-Pacific and Middle East & Africa are experiencing upsurge in development rate as the increasing number of industries as well as significant population is boosting activities in infrastructure and construction. This factor is expected to fuel the demand for soil monitoring solutions across these countries, which will create numerous growth opportunities for soil monitoring market players to expand their business in the upcoming years. Also, farmers across the emerging countries are increasingly preferring mobile soil testing laboratories, which is expected to increase the number of such laboratories; hence boosting the sale of soil monitoring tools and services during the forecast period. Furthermore, the surge in dependence on the agricultural sector across the emerging countries along with the availability of low priced products in the countries such as China, will complement the expanding application of the soil monitoring in upcoming years. 

Surge in government investments on agriculture research and development (R&D)

Soil monitoring helps farmers to save the use of resources by avoiding the expenditure on water bills, pesticides, fertilizers, and other inputs. Hence, farmers need to invest a large amount of capital to buy soil monitoring systems; this leads to the difficulty in use of the soil monitoring sensors and devices by small land holders owing to the high upfront costs involved. In this scenario, the subsidies as well as incentives from governments helps marginal farmers to adopt the advanced technologies for soil monitoring purposes. In addition, public sector spending on the agricultural R&D has flourished the agricultural industry around the globe, which led to the growth in adoption of state-of-the-art technologies such as soil monitoring. For instance, in the U.S., fiscal year 2020 agriculture appropriations bill of the Senate Appropriations Committee expected to provide $23.1 billion in discretionary funding with $3.172 billion specifically for agriculture research. Such investments in R&D by governments significantly drives the growth of soil monitoring system market. 

Competition Analysis

The key players that have major global soil monitoring system market share include Campbell Scientific, CropX Technologies, Earth Observing System, Element Material Technology, Manx Technology Group, METER Group, Inc., SGS Group, Spectrum Technologies, Stevens Water Monitoring Systems Inc., and The Toro Company, which are profiled in this report. The global soil monitoring industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the soil monitoring system market growth.

Key Benefits For Stakeholders

• This study comprises analytical depiction of the global market size along with the current global soil monitoring system market trends and future estimations to depict imminent investment pockets.
• The overall soil monitoring system market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The soil monitoring system market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.

 Soil Monitoring System Market Report Highlights