Soil Monitoring Industry: Opportunities And Market Drivers

1

• Soil
  Monitoring Industry Opportunities And Market
  Drivers
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2

• What is the current size of the global Soil
  Monitoring Market?
• The soil monitoring market is estimated to be
  worth USD 551 million in 2022 and is projected to
  reach USD 1,088 million by 2027, at a CAGR of
  14.6. 
• Which are the key players in the market?
• SGS Group (Switzerland)
• Meter Group (US)
• Element Materials Technology (UK)
• The Toro Company (US)
• Campbell Scientific (US)
• Sentek Technologies (Australia)
• Spectrum Technologies (US)
• Irrometer Company (US)
• Cropx Technologies (Israel)
• Acclima (US)
• Aquacheck (US)

3

• Drivers Consumers are increasingly showing a
  preference for vegan food options
• Progressive farmers have expressed interest in
  soil monitoring in the US, Canada, Netherlands,
  Israel, Denmark, and Australia. Farmers generally
  embrace soil monitoring as a means of achieving
  maximum yields and ideal crop quality when it
  comes to irrigation techniques. When fields are
  overirrigated, a shallow root pattern forms,
  affecting the nutrients that wash out of the soil
  and degrade crop quality. With the world
  population growing at an alarming rate and the
  potential for food shortages, soil monitoring has
  become increasingly vital. The farming community
  is under tremendous pressure to increase
  agricultural output in order to address the
  danger of food security for future generations.
  Because inputs must be closely monitored,
  technology aids in increasing crop yield per
  hectare.
• Opportunity Huge government spending on
  agriculture RD
• By keeping an eye on their soil, farmers may
  reduce their resource usage and save money on
  things like pesticides, fertilizers, and water
  costs. But dependable soil monitoring devices are
  expensive producers would have to choose between
  price and reliability otherwise. Purchasing soil
  monitoring equipment requires a substantial
  financial investment from farmers. Small
  landholders find it difficult to purchase soil
  monitoring sensors and equipment due to the high
  upfront expenses needed, but large commercial
  farmers can afford the high cost of these
  instruments to reap the benefits. Marginal
  farmers can benefit from government incentives,
  subsidies, and aid from any donor community if
  they use cutting-edge technologies for soil
  monitoring. Public sector expenditures on
  agricultural research and development have
  elevated the US agriculture industry.
• The European region held the second-largest share
  in the soil monitoring market in 2021 after the
  Americas and is expected to maintain its position
  during the forecast period. The use of digital
  farming techniques has become more prominent in
  Europe owing to advancements in the field of
  sensors, robotics and automation, and remote
  sensing technology. Soil monitoring helps farmers
  to utilize the technology to improve farm
  productivity additionally, sensors are useful in
  saving water resources in other applications such
  as sports turf, residential irrigation, and
  landscaping and ground care. EU countries have
  signed a Declaration of Cooperation on a smart
  and sustainable digital agriculture future and
  take action to support the digitalization of
  agriculture. However, the APAC region is expected
  to witness fast growth during the forecast period
  owing to the high degree of agriculture
  technology adoption in Australia, New Zealand,
  and Japan, with emerging countries like India and
  China investing a huge amount in the
  digitalization of the agriculture sector.
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• key aspects associated with the soil monitoring
  market
• Technology Advancements The market has seen
  advancements in sensor technologies, IoT
  (Internet of Things) integration, and data
  analytics. These technologies help farmers and
  agricultural professionals make informed
  decisions regarding crop management.
• Increasing Awareness about Soil Health Growing
  awareness about the impact of soil health on crop
  yield and environmental sustainability has driven
  the adoption of soil monitoring solutions.
  Farmers are increasingly recognizing the
  importance of maintaining optimal soil conditions
  for better agricultural productivity.
• Government Initiatives and Regulations Some
  regions have implemented policies and regulations
  that promote sustainable agriculture and soil
  conservation. This has further contributed to the
  adoption of soil monitoring technologies.
• Precision Agriculture Soil monitoring is a
  crucial component of precision agriculture, where
  data-driven insights are used to optimize farming
  practices. This includes precise application of
  fertilizers, irrigation, and other inputs based
  on real-time soil conditions.

5
Recent Developments

• Stevens Water acquired Structure Monitoring (US)
  in January 2019, a provider of intelligent IoT
  solutions, to enhance Steven Waters
  platformStevens-Connect.
• In October 2021, SGS launched the GLP soil
  characterization service to help determine the
  chemical, physical, and biological properties
  that affect soil fertility.
• SGS partnered with Mammoet (Netherlands) in
  November 2019, a global leader in lifting and
  transporting heavy objects, for sustainable soil
  stabilization in Nigeria.
• In July 2020, METER Group launched 2 new data
  loggersZL6 Basic and ZL6 Proto its Zentra
  series of data loggers and will provide more
  options to customers to connect with their data.
• Element Materials Technology Group Limited
  acquired FOSTA Group in July 2022, a leading
  geotechnical instrumentation and soil
  investigation specialist based in Singapore. This
  acquisition significantly strengthens Elements
  services within the fast-growing infrastructure
  and environmental markets and complements its
  existing capabilities in Southeast Asia.
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