Sustainable soil management greatly depends on soil monitoring. It entails analyzing the soil through field observations and soil tests, as well as tracking changes in the soil over time. Farmers are able to assess the efficacy of their management by comparing the outcomes from year to year. Thus, they can ascertain the necessary modifications to enhance the soil and boost output. Systems for monitoring soil consist of various devices that can read and store data, sense soil, and send data to computers via a transmitter.
According to SPER Market Research, ‘Soil Monitoring Market Size-By Component, By Connectivity, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ states that the Global Soil monitoring market is estimated to reach USD 2.20 billion by 2032 with a CAGR of 14.85%.
The market for soil monitoring is driven by a number of factors, including ongoing government and corporate initiatives to support sustainable agriculture practices, strict ecological stability regulations, the urgent need to protect soil quality, and the growing need to increase farm productivity to feed the world's expanding population. Since food shortages could result from the world's population growth, soil monitoring has become more and more crucial. There is tremendous pressure on the farming community to boost agricultural output in order to mitigate the threat of food insecurity for future generations. The technology helps increase crop output per hectare because accurate monitoring of inputs is necessary to ensure proper crop development.
The low adoption of advanced farming technologies in certain global geographies and the affordability concerns surrounding soil monitoring components like sensors and systems are seriously hindering the growth of the market. Additionally, a major barrier to the market's expansion is the challenges posed by the spatial variability of the soil when it comes to soil monitoring. Moreover, technical expertise is required for soil monitoring in order to process data and interpret findings. In many places, farmers lack this knowledge, which inhibits the uptake of soil monitoring and slows market expansion.
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Impact of COVID-19 on the Global Soil Monitoring Market
The COVID-19 pandemic has halted research and development in the electronics and semiconductor industries and resulted in the closure of multiple manufacturing plants worldwide. Sensor manufacturers' ability to produce their products is hampered by shortages or unavailability of raw materials and components as a result of supply chain disruptions. Additionally, consumers' declining purchasing power as a result of the unstable economy is a barrier to market expansion. The market for soil monitoring systems was negatively impacted by COVID-19, but this effect was only temporary. A few years later, it is expected to recover at a strong rate due to the widespread demand for IoT device installation on agricultural farms worldwide. This will allow for the best possible use of resources with fewer labor-intensive field operations.
Soil Monitoring Market Key Players:
Due to the significant pandemic scenario in the region, North America is expected to hold the largest market share during the anticipated timeframe. Additionally, North America is the most lucrative region in the global market. During the anticipated period, the soil monitoring market is anticipated to grow at the fastest rate in the Asia Pacific region. In Asia-Pacific, the use of digital agricultural technologies is growing quickly. Developing nations like China and India are increasing their investments in farming methods of the future. Governments are also making significant investments to promote sustainable farming practices and educate farmers about water conservation. The key players are- Campbell Scientific Inc., CropX Inc., Earth Observing System, Element Materials Technology, Manx Technology Group, METER Group Inc., SGS SA, Spectrum Technologies Inc., Stevens Water Monitoring Systems Inc., The Toro Company.
Global Soil Monitoring Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts
By Component: Based on the Component, Global Soil Monitoring Market is segmented as; Hardware, Software, Service
By Connectivity: Based on the Connectivity, Global Soil Monitoring Market is segmented as; Wired, Wireless
By Application: Based on the Application, Global Soil Monitoring Market is segmented as; Agriculture, Archaeology, Construction& Mining, Research
By Region: The Global Soil Monitoring Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World based on geography.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Soil Monitoring Market Revenue
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