Vancouver, BC -- (SBWIRE) -- 12/22/2020 -- Soil monitoring enables the farmers to gather reliable data about rain, temperature, and other vital metrics over a period to predict the trends and irrigation requirements. The rising need for enhancing the productivity of a farm to cater to the augmenting demand for food from expanding world population is majorly propelling the industry's growth. The Soil Monitoring Market is anticipated to attain a valuation of USD 872.3 Million by 2027, registering a13% CAGR, according to the latest analysis by Emergen Research.

Key participants include The Toro Company, Stevens Water Monitoring Systems Inc., Element Materials Technology, SGS GROUP, CAMPBELL SCIENTIFIC, METER GROUP, SENTEK TECHNOLOGIES, CROPX TECHNOLOGIES, SPECTRUM TECHNOLOGIES, and Aquamonix, among others.

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Market Drivers
The growing attraction for sustainable and smart farming practices and increasing investment and financial support from the government for the expansion of the agriculture sector are anticipated to be the major market drivers for the soil monitoring market. With rapid changes in the climate and depletion of water resources, there is an increased demand for soil monitoring. Technological advancements in the agriculture sector, such as soil monitoring sensors, which enhance the productivity of the farm are projected to propel the industry growth over the projected timeline. The increasing incorporation of IoT in agricultural systems is further projected to fuel the development of the industry.

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System Type Outlook (Revenue, USD Million; 2017-2027)
- Ground-based Monitoring Systems
- Sensing and Imagery Systems
- Others (Telematics Systems and Robotics)

Offering Outlook (Revenue, USD Million; 2017-2027)
- Software
- Hardware
- Services

Application Outlook (Revenue, USD Million; 2017-2027)
- Non-Agricultural
- Agricultural

Regional Analysis
North America is projected to command the market expansion over the projected timeline attributable to the soaring implementation of Ground-based Monitoring Systems and Sensing and Imagery Systems to enhance the productivity of the agricultural sector. The augmented adoption of smart and precision farming, coupled with the presence of significant market players, is contributing to the progress of the market in the region. The Asia Pacific region is forseen to be the fastest-growing market due to rising initiatives for water conservation in the region.

To identify the key trends in the industry and read full summary click on the link: https://www.emergenresearch.com/industry-report/soil-monitoring-market

Key Highlights from the Report
- In November 2019, Mammoet, who is a global market leader for lifting and transporting heavy objects, entered into a partnership with the SGS group. SGS Group is helping the company with the construction of a large oil refinery in Nigeria.
- The ground-based monitoring system segment held the largest market share of 55.2% in 2019. Growing adoption of the Ground-based Monitoring Systems among the skilled farmers in the developed economies to increase agricultural productivity and enhance crop quality is expected to drive the growth of the segment.
- Services are forecasted to grow with the fastest CAGR of 13.8% over the forecast period. Increasing utilization of the Internet of things (IoT) enabled devices for agricultural and non-agricultural purposes, and the growing number of connected agriculture devices is expected to drive the growth of the services segment in the soil monitoring market.
- The agricultural segment accounted for the largest market share in 2019. The rising global population, along with the rising demand for food, is expected to increase the adoption of smart agricultural practices.
- The Asia Pacific region is expected to be the fastest-growing region over the forecast period. The region is continuously striving to increase agricultural productivity by implementing technologically advanced agricultural practices.

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