Soil Monitoring Market - Global Forecast to 2030

Meticulous Research®, a prominent global market research firm, has unveiled its latest research report under the title 'Soil Monitoring Market,' categorizing offerings into Software, Hardware, and Services, system types as Sensing & Imagery, Ground-based Monitoring Systems, and Other System Types, and sectors as Agriculture and Non-Agriculture. This comprehensive report, forecasting global trends up to 2030, outlines the soil monitoring market's anticipated value of $1.1 billion, projecting a Compound Annual Growth Rate (CAGR) of 10.3% from 2023 to 2030.

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The soil monitoring market's ascent is underpinned by an escalating imperative to safeguard soil quality, the increasing urgency to enhance farm productivity, and the widespread adoption of sophisticated agricultural methodologies. Challenges persist, particularly in overcoming the spatial variability of soil monitoring. Nevertheless, the market anticipates significant opportunities, propelled by the integration of advanced technologies for smart agriculture, the burgeoning acceptance of soil monitoring in emerging economies, and augmented government investments in agricultural practices.

A primary impediment for market players remains the lack of awareness and technical expertise concerning soil monitoring. The prevailing trends in the global soil monitoring arena encompass the burgeoning use of drone-based soil monitoring and the increasing adoption of soil robotics.

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Segmentation forms a pivotal component of the report, dissecting the soil monitoring market based on offering (Software, Hardware, Services), system type (Sensing & Imagery including Satellite-based, Drone-based, Manned Aircraft/Aerial Photography, Ground-based Monitoring Systems, and Other System Types), and sector (Agriculture, Non-Agriculture). A meticulous evaluation of industry competitors and a thorough analysis at regional and country levels are integral to the study.

In terms of offerings, the hardware segment is poised to dominate the soil monitoring market in 2023, attributed to the escalating usage of soil sensors, soil scanners, and weather stations. Concurrently, the services segment is expected to register the highest CAGR, driven by the increasing integration of the Internet of Things (IoT) in farming and a growing preference for technological advancements to enhance crop and soil quality.

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The system type segmentation reveals that ground-based monitoring systems will command the largest market share in 2023, owing to the rising adoption of soil monitoring sensors and devices, coupled with an increasing focus on preserving soil quality and improving farm productivity. Conversely, the sensing & imagery segment is projected to witness the highest CAGR, fueled by the escalating adoption of drone-based and satellite-based soil monitoring.

The soil monitoring market's sectoral breakdown highlights agriculture as the dominant segment in 2023, owing to the heightened focus on improving farm productivity, widespread adoption of advanced farming techniques, and increased government investments in agricultural practices. This segment is forecasted to sustain the highest CAGR throughout the forecast period.

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Geographically, North America is anticipated to hold the largest market share in 2023, with its supremacy attributed to the presence of key players offering cutting-edge soil monitoring solutions. Meanwhile, Asia-Pacific is poised for the fastest growth, driven by increasing awareness among farmers in emerging countries, such as India, Japan, and South Korea, regarding the advantages of ground-based monitoring systems.

Key players contributing to the soil monitoring market's growth include Stevens Water Monitoring Systems Inc. (U.S.), SGS SA (Switzerland), METER Group, Inc. (U.S.), Element Materials Technology (U.K.), The Toro Company (U.S.), Campbell Scientific, Inc. (U.S.), Sentek Pty Ltd (Australia), Spectrum Technologies, Inc. (U.S.), Irrometer Company, Inc. (U.S.), CropX Inc. (U.S.), Acclima, Inc. (U.S.), HydroPoint Data Systems, Inc. (U.S.), Delta-T Devices Ltd (U.K.), Manx Technology Group Limited (Isle of Man), and Soil Scout Oy (Finland).

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

This release was published on openPR.