Soil Monitoring Devices Market: Introduction
- In the past few decades, soil monitoring has become important as environment factors such as climate change, dwindling water reservoirs, and threatened habitats are driving the need to monitor the environment. Monitoring of soil moisture conditions offers important information in understanding the local as well as regional water resources.
- In addition, soil monitoring is critical to dust control, biofuel production, phytoremediation, reservoir recharge from snowpack, watershed hydrology studies, satellite ground truthing, and soil carbon sequestration studies.
- Soil monitoring devices can perform functions such as soil sensing, and read or store data and transmit it to computers. The transmitted data helps to analyze the soil data and make decisions. Benefits associated with soil monitoring includes increased ability to manage growth rates, quality, and efficiency, and reduced disease occurrence.
Increasing need to improve farm productivity to feed the growing population
- Soil monitoring devices are widely accepted among farmers in irrigation as it can help to achieve maximum yield and good quality. Soil monitoring is becoming significantly important as the global population is increasing. Farmers are under extreme pressure to boost agricultural output to tackle the threat of food security likely to be faced by future generations.
- Water management techniques such as the use of soil moisture sensors for water level monitoring enables farmers to be more profitable. This enables the conservation of water and energy as well as costs.
- However, variability in soil does not allow the measurement of every parameter to represent large areas such as farms or grounds. This factor may hamper the growth of the soil monitoring devices market.
Increasing investment in research and development by governments
- Governments and the public sector are increasingly investing in agriculture and R&D. Small land farmers cannot use the sensor and devices as the cost of soil monitoring devices is high. In this case, incentives or subsidies from governments help the marginal farmers to adopt the technology.
- For instance, in the United States, the Senate Appropriations Committee’s 2020 agriculture appropriations bill has provided USD 23.1 Bn in discretionary funding with USD 3 Bn for R&D. Moreover, extensive presence of urban gardens and changing environmental and water resources is expected to boost the market.
Asia Pacific to lead the market growth
- In terms of region, the global soil monitoring devices market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- The soil monitoring devices market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period.
- This growth is attributed to increasing need to improve farmland productivity due to rising population, increasing adoption of advanced devices, and growing awareness among farmers. Thus, these factors are expected to increase the demand for soil monitoring devices in the region.
- The soil monitoring devices market in North America and Europe is also likely to show high growth rate due to the increasing investment by governments and the public sector, and presence of major players. The market in Middle East & Africa is expected to witness a uniform growth rate.
Key Players in the Global Market
The global soil monitoring devices market is highly fragmented. Prominent players operating in the global market are focusing on product launch and technological developments to meet the growing demand for soil monitoring devices.
Key players operating in the global soil monitoring devices market include:
- Sentek Technologies
- Stevens Water Monitoring Systems Inc.
- CropX Inc.
- The Toro Company
- Caipos GmbH
Global Soil Monitoring Devices Market: Research Scope
Global Soil Monitoring Devices Market, by Hardware
- Displaying equipment
- Data Loggers
Global Soil Monitoring Devices, by Applications
- Moisture Monitoring
- Salinity Monitoring
- Temperature Monitoring
- Humidity Monitoring
Global Soil Monitoring Devices Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.