Soil Monitoring System Market Outlook - 2027
The global soil monitoring system market size is expected to reach from $529.2 million in 2019 to $853.4 million by 2027, growing at a CAGR of 6.7% from 2020 to 2027.
Soil monitoring systems consist of devices, which perform different functions such as reading/storing data, soil sensing, and transmitting data via transmitter to the computers. The soil monitoring data helps in analyzing the soil conditions, thereby enabling decision-making. These systems have wide applications in agricultural practices, golf courses, research laboratories, and urban farming communities.
Growing demand to improve farm productivity to feed the extensively rising population and the rise in popularity of precision agriculture and fertility management services are the major factors that drive the growth of the soil monitoring system market. In addition to this, the availability of technologically advanced soil monitoring systems at affordable prices fuels the market growth. Also, the surge in government investments in agriculture R&D fuels the market. However, a lack of technical skills and awareness related to soil monitoring may hinder the market growth to some extent. On the contrary, the rise in the adoption of soil monitoring in emerging countries is anticipated to provide lucrative opportunities for the soil monitoring system market.
The COVID-19 outbreak has currently restrained R&D activities in the electronics & semiconductor industry and has led to the shutdown of several manufacturing facilities globally. Shortage or unavailability of raw materials and components, owing to supply chain disruption hinders the production capacity of sensor manufacturers. Further, a decline in purchase capability among consumers, owing to an uncertain economy hinders the market growth. However, the negative impact of COVID-19 on the soil monitoring system market is expected to be there for a short period, and by early 2021 the market is anticipated to observe a robust recovery rate along with the extensive demand for the installation of IoT devices across the agricultural farms around the globe to enable optimal usage of resources with reduced requirements of the labor in the fields.
By Component
Hardware segment generated the highest revenue in 2019.
The global soil monitoring system market is segmented based on component, connectivity, application, and region. Based on components, the market is classified into hardware, software, and service. By connectivity, the market is bifurcated into wired and wireless. Based on application, it is divided into agriculture, archaeology, research, and construction & mining. Region-wise, the soil monitoring system market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Impacting Factors
Factors such as growing demand to improve farm productivity to feed an extensively rising population, the rise in popularity of precision agriculture and fertility management services, and the availability of technologically advanced soil monitoring systems at affordable prices are the major factors that drive the growth of the market. However, a lack of technical skills and awareness related to soil monitoring may hinder the market growth to some extent.
By Connectivity
Wired segment generated the highest revenue in 2019.
Growing popularity of precision agriculture and fertility management services
Precision agriculture, also known as smart farming is the popular method that enables farmers to minimize input costs while maximizing yields using minimal resources such as water, fertilizer, and seeds. The soil monitoring technologies help to map the fields and the deployment of soil monitoring sensors enables farmers to understand their crops at the micro scale by reducing impacts on the environment. In addition, various governments are taking measures to meet the surge in food demand. For instance, NASA, the U.S. Department of Agriculture, and the National Oceanic and Atmospheric Administration (NOAA) contribute to precision farming. Also, in India, the government provides a 100% cost subsidy to Precision Farming Development Centers (PDFCs). These measures fuel the popularity of precision farming, further fueling the soil monitoring system market.
Rise in adoption of soil monitoring in emerging countries
The countries across Asia-Pacific and Middle East & Africa are experiencing an upsurge in development rate as the increasing number of industries as well as significant population is boosting activities in infrastructure and construction. This factor is expected to fuel the demand for soil monitoring solutions across these countries, which will create numerous growth opportunities for soil monitoring market players to expand their business in the upcoming years. Also, farmers across emerging countries are increasingly preferring mobile soil testing laboratories, which is expected to increase the number of such laboratories; hence boosting the sale of soil monitoring tools and services during the forecast period. Furthermore, the surge in dependence on the agricultural sector across emerging countries along with the availability of low-priced products in countries such as China, will complement the expanding application of soil monitoring in upcoming years.
By Application
Agriculture segment generated the highest revenue in 2019.
Surge in government investments in agriculture research and development (R&D)
Soil monitoring helps farmers to save the use of resources by avoiding the expenditure on water bills, pesticides, fertilizers, and other inputs. Hence, farmers need to invest a large amount of capital to buy soil monitoring systems; this leads to the difficulty in use of the soil monitoring sensors and devices by small landholders owing to the high upfront costs involved. In this scenario, the subsidies as well as incentives from governments help marginal farmers to adopt the advanced technologies for soil monitoring purposes. In addition, public sector spending on agricultural R&D has flourished in the agricultural industry around the globe, which led to the growth in the adoption of state-of-the-art technologies such as soil monitoring. For instance, in the U.S., fiscal year 2020 agriculture appropriations bill of the Senate Appropriations Committee expected to provide $23.1 billion in discretionary funding with $3.172 billion specifically for agriculture research. Such investments in R&D by governments significantly drive the growth of the oil monitoring system market.
Competition Analysis
The key players that have major global soil monitoring system market share include Campbell Scientific, CropX Technologies, Earth Observing System, Element Material Technology, Manx Technology Group, METER Group, Inc., SGS Group, Spectrum Technologies, Stevens Water Monitoring Systems Inc., and The Toro Company, which are profiled in this report. The global soil monitoring industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the soil monitoring system market growth.
By Region
North America segment generated the highest revenue in 2019.
Key Benefits for Stakeholders
- This study comprises an analytical depiction of the global market size along with the current global soil monitoring system market trends and future estimations to depict imminent investment pockets.
- The overall soil monitoring system market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The soil monitoring system market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
Soil Monitoring System Market Report Highlights
| Aspects | Details |
 By Component |
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 By Connectivity |
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 By Application |
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 By Region |
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 Key Market Players | Stevens Water Monitoring Systems, Inc., The Toro Company, METER Group, Inc., Spectrum Technologies, Inc., Manx Technology Group, SGS SA, Element Materials Technology, Campbell Scientific, Inc., CropX Inc., Earth Observing System |
Analyst Review
The soil monitoring system market is going through enormous transformation and growth. Also, the agriculture industry is undergoing a paradigm shift in farming technologies driven by demand for improving farm productivity to feed the rising population. Soil monitoring systems are helping farmers across the globe to gain farm productivity by monitoring soil moisture. For instance, too little moisture can result in yield loss and plant death; on the other hand, too much moisture may lead to the root disease and wasted water. Hence, progressive farmers are extensively adopting optimized irrigation scheduling with the help of soil monitoring due to the benefits such as increase in crop yields, saving water, saving on fertilizer costs, saving on energy costs, and increasing the farmer profitability.
In addition, since the past few years, the environmental monitoring has become essential. Environmental factors such as declining water resources, climate change, and threatened habitats are driving the need to monitor the environment as well as to implement improved policies to protect it. The various natural processes in the environment are mainly driven by or are in some ways related soil hydrological processes. Hence, there is huge adoption of soil monitoring systems to monitor the soil moisture conditions to obtain vital information for the protection as well as understanding of local and regional water resources.
Along with agriculture, soil monitoring is popularly being adopted in various applications such as archeology, biofuel studies, erosion studies, drought forecasting models, dust control, landslide studies, mesonets and weather station networks, and soil carbon sequestration studies.
The key players that have major global soil monitoring system market share include Campbell Scientific, CropX Technologies, Earth Observing System, Element Material Technology, Manx Technology Group, METER Group, Inc., SGS Group, Spectrum Technologies, Stevens Water Monitoring Systems Inc., and The Toro Company, which are profiled in this report. The global soil monitoring industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market growth.
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