"Projected Growth: Soil Monitoring Market Set to Reach $1.1 Billion by 2030"

Meticulous Research®, a leading global market research company, has released a comprehensive research report titled "Soil Monitoring Market by Offering (Software, Hardware, Services), System Type (Sensing & Imagery, Ground-based Monitoring System, Other System Types), Sector (Agriculture, Non-Agriculture), and Geography - Global Forecast to 2030." According to this report, the soil monitoring market is poised to achieve a valuation of $1.1 billion by the year 2030, growing at a Compound Annual Growth Rate (CAGR) of 10.3% from 2023 to 2030.

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The growth of the soil monitoring market is primarily driven by several factors including the increasing need to preserve soil quality, the growing demand for improved farm productivity, and the rising adoption of advanced agricultural techniques. However, challenges such as difficulties in monitoring due to spatial variability of soil pose restraints to market growth.

One of the key trends identified in the report is the integration of advanced technologies to promote smart agriculture, along with the rising adoption of soil monitoring in emerging economies. Despite the opportunities, lack of awareness and technical skills regarding soil monitoring remains a significant challenge for market players.

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The soil monitoring market is segmented based on offering (software, hardware, services), system type (sensing & imagery, ground-based monitoring system, other system types), and sector (agriculture, non-agriculture). The hardware segment currently holds the largest market share due to increasing penetration of soil sensors and weather stations, while the services segment is expected to register the highest CAGR during the forecast period.

Geographically, North America leads the market, driven by the presence of prominent players and growing adoption of soil monitoring solutions. However, Asia-Pacific is projected to witness the fastest growth rate, fueled by increasing awareness among farmers and adoption of monitoring systems in countries like India, Japan, and South Korea.

Key players in the soil monitoring market include Stevens Water Monitoring Systems Inc., SGS SA, METER Group, Inc., Element Materials Technology, The Toro Company, Campbell Scientific, Inc., and others.

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This release was published on openPR.