Soil Moisture Sensor Market Worth 264.0 Million USD by 2023
PUNE, India, May 25, 2018 /PRNewswire/ --
According to the new market research report on "Soil Moisture Sensor Market by Type (Volumetric and Soil Water Potential), Application (Agriculture, Residential, Landscaping, Sports Turf, Weather Forecasting, Forestry, Research Studies, and Construction & Mining), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from USD 131.7 million in 2018 to USD 264.0 Million by 2023, at a CAGR of 14.92% between 2018 and 2023. The growth of this market is driven by a gradual shift in the climatic conditions and growing demand for the improved productivity.
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Volumetric soil moisture sensors to hold larger share of market during forecast period
In terms of value, volumetric soil moisture sensors are expected to hold a larger share of the soil moisture sensor market during the forecast period. The volumetric soil moisture sensors provide more accurate data and require very little or no calibration at the time of installation; hence, their demand in almost all the applications is high.
Soil moisture sensor market for sports turf application to grow at highest CAGR during forecast period
The soil moisture sensor market for sports turf application is expected to grow at the highest CAGR during the forecast period. As more people are interested in sports for the entertainment purpose, investments for the betterment of playgrounds, turfs, and other related infrastructure have increased drastically; this leads sports turf to be the fastest-growing application of the soil moisture sensors.
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Americas to hold largest share of soil moisture sensor market during forecast period
The Americas is expected to hold the market with the largest share between 2018 and 2023. The growth of this market is attributed to the factors such as strict environmental regulations, strong government support, efforts toward automation of agricultural processes, and growing adoption of precision farming and yield monitoring practices by small and the large farm owners to increase the productivity of the fields.
Major players in the soil moisture sensor market include METER Group (US), Irrometer Company (US), The Toro Company (US), Campbell Scientific (US), Delta-T Devices (UK), Spectrum Technologies (US), Sentek (Australia), Stevens Water Monitoring Systems (US), E.S.I. Environmental Sensors (Canada), and IMKO Micromodultechnik (Germany).
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