CHICAGO, Oct. 5, 2020 /PRNewswire/ -- According to the new market research report "Soil Monitoring Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), System Type (Sensing & Imagery, Ground-based Sensing, Robotic & Telematics), Application (Agricultural, Non-agricultural), Region - Global Forecast to 2025", published by MarketsandMarkets™, the Soil Monitoring Market is expected to be worth USD 680 million by 2025 from USD 370 million in 2020, at a CAGR of 12.9% during 2020-2025 period. The rapid growth of the global soil monitoring market is attributed to the factors such as concerted efforts of governments and companies to promote sustainable agriculture practices, pressing need to preserve soil quality, stringent government regulations pertaining to ecological stability, and growing need for improving farm productivity to feed rising population. Moreover, the advancements in the sensing and imagery systems as well as telematics have resulted in the wider adoption of soil monitoring sensors, devices, and software.
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Ground-based monitoring systems to hold largest market share during forecast period
Ground-based monitoring systems is expected to hold the largest market share in the Soil Monitoring Market during the forecast period owing to the surge in the application of several soil monitoring sensors among the progressive farmers across the world. Ground-based monitoring does not require strong technical know-how which is a prominent factor for the large market share. With the technological advancements in the smart sensors as well as the integration of such sensors with the IoT modules has led to the demand for the connected farming.
Services offering are expected to witness the highest growth rate during the period 2020 and 2025
The services offering is expected to witness the highest growth rate in the Soil Monitoring Market during the forecast period. The advent of connected farming, the utilization of IoT in agricultural and non-agricultural applications, and the availability of new revenue generation models offered by agriculture technology companies have led to an increase in demand for services in the soil monitoring market. The integration of various emerging technologies such as IoT and AI with the smart sensors has led to the demand for various connectivity, integration and managed services.
Non-agricultural application to grow at the highest rate between 2020 and 2025
The non-agriculture application segment is on an upward growth trajectory owing to the adoption of various portable devices and soil scanners for soil monitoring purposes, especially for weather forecasting and flood and drought management. The sports turf management and landscaping and ground care are some of the prominent applications in the soil monitoring market which could see a high growth in the coming years.
Browse in-depth TOC on "Soil Monitoring Market"
144 – Tables
65 – Figures
234 – Pages
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Americas to hold largest share of soil monitoring market during forecast period
The Americas is expected to hold the largest share of the Soil Monitoring Market during 2020–2025. The deployment of ground-based monitoring systems as well as increasing popularity of sensing and imagery systems is quite high in the countries like US and Canada due to which the region holds the large market share. Moreover the South American countries such as Brazil and Argentina have large sized farms in abundance where the government reforms to develop digital and sustainable agriculture are reaping significant returns. The adoption of telematics and robotics in the Americas is growing substantially and is laying down the growth path for the development of soil monitoring market
The report profiles key players such as Stevens Water Monitoring Systems (US), SGS Group (Switzerland), METER Group (US), Element Material Technology (UK), The Toro Company (US), Campbell Scientific (US), Sentek Technologies (Australia), Spectrum Technologies (US), Irrometer (US) and CropX Technologies (Israel).
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