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Soil Monitoring Market Trends, Key Drivers, Opportunities, Leading Players And Forecast To 2033
Soil Monitoring Market
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According to The Business Research Company's, The soil monitoring market size has grown rapidly in recent years. It will grow from $0.52 billion in 2023 to $0.59 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to the rising need to prevent soil quality, growing demand for farm productivity, growing enhanced farm productivity, increasing awareness of climate change and environmental degradation, and the rise of precision agriculture.
The soil monitoring market size is expected to see rapid growth in the next few years. It will grow to $0.98 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to increasing hardware-centric capabilities, increasing penetration of soil sensors, rising demand of farm techniques, increasing population, and increasing agricultural production. Major trends in the forecast period include internet of things (IoT)-connected farming solutions, integrating modern international soil monitoring techniques, innovative fluid management systems, digital agriculture technologies, and adoption of soil robotics.
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Market Drivers and Trends:
The growing agriculture sector is expected to propel the growth of the soil monitoring market going forward. The agriculture sector is the part of the economy that involves producing, processing, and distributing crops, livestock, and other agricultural products. The rising agriculture sector is due to shifts in dietary patterns, growing awareness of environmental issues, and increased investment in agricultural research, development, and infrastructure. Soil monitoring helps increase agricultural production by providing real-time data on soil conditions, allowing for precise irrigation, fertilization, and crop health management. For instance, in February 2024, according to the Department for Environment Food & Rural Affairs reports, a UK-based government agency, the average farm business income (FBI) across all UK farms increased significantly from $50,461 (£46,500) in 2020/21 to $78,133( £72,000) in 2021/22. Further, the UK total income from farming (TIFF) in 2022 was $6.61 billion(£7.9 billion), an increase of 17% from 2021 with $1.43 billion(£1.1 billion ). Therefore, growth in the agriculture sector drives the soil monitoring market.
Major companies operating in the soil monitoring market are focused on developing innovative solutions, such as wireless soil sensor probes, to measure soil moisture and temperature. A wireless soil sensor probe is a device that monitors soil conditions such as moisture, temperature, and salinity in real time, transmitting data wirelessly for precision agriculture applications. For instance, in April 2024, GroGuru, Inc., a US-based technology company that provides a service of water monitoring and management, launched a fully integrated wireless soil sensor probe for continuous root zone monitoring of annual field crops. The fully integrated wireless soil sensor probe launched by GroGuru, Inc. offers unique features, including continuous root zone monitoring for annual field crops, enabling real-time data collection on soil moisture, temperature, and salinity. It operates wirelessly and is designed for easy installation without requiring costly or time-consuming battery replacements, ensuring long-term, low-maintenance use. This innovation supports precision irrigation, helping farmers optimize water usage and enhance crop yields by providing actionable insights directly from the field.
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Major Key Players of the Market:
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.
Soil Monitoring Market 2024 Key Insights:
• The soil monitoring market size is expected to see rapid growth in the next few years. It will grow to $0.98 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%.
• Soil Monitoring Market Growth Driven By Expansion In The Agriculture Sector
• Wireless Soil Sensor Probe Supports Precision Agriculture With Continuous Root Zone Monitoring And Low-Maintenance Operation
• North America was the largest region in the soil monitoring market in 2023
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