PUBLISHER: The Business Research Company | PRODUCT CODE: 1620118
PUBLISHER: The Business Research Company | PRODUCT CODE: 1620118
Soil monitoring is the systematic process of observing and analyzing soil properties and conditions over time. This practice is crucial for various applications, including agriculture, environmental management, and construction. The aim is to collect data that aids in understanding soil health, fertility, and other essential factors affecting land use and management.
The primary offerings in soil monitoring are hardware, software, and services. The hardware for soil monitoring comprises physical devices such as soil sensors, data loggers, and communication devices. Various systems include sensing and imagery technologies, ground-based monitoring systems, and others, which are utilized in sectors such as agriculture and non-agriculture.
The soil monitoring market research report is one of a series of new reports from The Business Research Company that provides soil monitoring market statistics, including soil monitoring industry global market size, regional shares, competitors with a soil monitoring market share, detailed soil monitoring market segments, market trends, and opportunities, and any further data you may need to thrive in the soil monitoring industry. This soil monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry
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 during the historic period can be attributed to several factors such as the increasing need to maintain soil quality, rising demand for improved farm productivity, advancements in agricultural techniques, heightened awareness of climate change and environmental degradation, and the growth 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 projected growth during the forecast period can be attributed to several factors such as enhanced hardware capabilities, greater penetration of soil sensors, rising demand for advanced farming techniques, increasing population, and expanding agricultural production. Key trends expected in the forecast period include the use of Internet of Things (IoT)-connected farming solutions, the integration of modern international soil monitoring techniques, innovative fluid management systems, digital agriculture technologies, and the adoption of soil robotics.
The growing agriculture sector is expected to drive the expansion of the soil monitoring market moving forward. This sector, which involves the production, processing, and distribution of crops, livestock, and other agricultural products, is experiencing growth due to shifts in dietary patterns, increased awareness of environmental issues, and rising investments in agricultural research, development, and infrastructure. Soil monitoring enhances agricultural productivity by providing real-time data on soil conditions, which allows for precise irrigation, fertilization, and crop health management. For example, in February 2024, the Department for Environment Food & Rural Affairs, a UK-based government agency, reported that 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. Additionally, the UK's total income from farming (TIFF) in 2022 was $6.61 billion (£7.9 billion), marking a 17% increase from the previous year. This growth in the agriculture sector is a key driver of the soil monitoring market.
Leading companies in the soil monitoring market are focusing on creating innovative solutions, such as wireless soil sensor probes, to measure soil moisture and temperature. These probes monitor soil conditions like moisture, temperature, and salinity in real-time, transmitting data wirelessly to support precision agriculture. For example, in April 2024, GroGuru, Inc., a U.S.-based technology company specializing in water monitoring and management, introduced a fully integrated wireless soil sensor probe for continuous root zone monitoring of annual field crops. This probe offers features such as real-time data collection on soil moisture, temperature, and salinity, operating wirelessly for easy installation without the need for costly or time-consuming battery replacements. Its low-maintenance design ensures long-term use. This innovation aids precision irrigation, helping farmers optimize water use and improve crop yields by delivering actionable insights directly from the field.
In July 2022, Element Materials Technology (Element), a UK-based company specializing in inspection, testing, and certification services for materials and products, acquired FOSTA Group for an undisclosed amount. This acquisition enhances Element's fire testing, certification, and regulatory compliance services, particularly within the construction and infrastructure industries. FOSTA Group, based in Singapore, offers soil investigation and instrumentation monitoring services.
Major companies operating in the soil monitoring market are 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.
North America was the largest region in the soil monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soil monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the soil monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The soil monitoring market consist of revenues earned by entities by providing soil testing, remote soil monitoring, environmental monitoring, and soil health management plans. The market value includes the value of related goods sold by the service provider or included within the service offering. The soil monitoring market also includes sales of soil moisture sensors, soil pH sensors, nutrient sensors, salinity sensors, and soil testing kits. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Soil Monitoring Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on soil monitoring market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for soil monitoring ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The soil monitoring market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.