Global Soil Moisture Sensor Market Revenue Status and Outlook 2023
Bharat Book Bureau Provides the Trending Market Research Report on “Soil Moisture Sensor Market - Forecasts from 2018 to 2023”under Technology & Media category. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
The soil moisture sensor market is projected to witness a CAGR of 14.63% during the forecast period to grow to US5.41 million by 2023, increasing from US9.91 million in 2017. Measurement of soil moisture has become imperative particularly in the agricultural sector. Various research institutes and organizations such as the US Department of Agriculture (USDA) and Agriculture Research Service (ARS) are examining how soil interacts with the environment due to concern over soil health sustainability. Environmental regulations to protect soil, research activities and application of soil moisture sensor for various applications such as agriculture, sports turf, landscaping among others are some of the key factors contributing to the market growth. Furthermore, availability of advanced soil measurement systems at affordable prices due to high economies of scale is further expected to spur the market growth. The lack of awareness among the farmers and the use of traditional methods is the major restraint in the growth of the soil moisture sensor market.
By type, the soil moisture sensor market can be segmented as volumetric sensors and soil water potential sensors. The volumetric sensors such as probes, Time Domain Transmissometry (TDT), and capacitance helps to determine the actual volume of water in the soil. Soil water potential sensors, on the other hand, determine whether plants will grow well or be stressed in any environment by giving a measure of the energy state of water. Tensiometer, gypsum block and granular matrix constitute soil water potential sensors. Monitoring soil health in a quantifiable and substantial manner has led to an increased adoption of the soil sensors.
On the basis of application, the Soil Moisture Sensor market can be segmented as Agriculture, Construction, Sports, Research, Weather Forecasting and others such as residential and forestry.
The growing concern about the role of soil health in climate has increased the demand for soil sensors. The modernization of agriculture and the environmental factors like climate change, dwindling water resources, and the threatened habitats are the major factors driving the demand for these sensors. The agriculture sector involves a significant application of soil moisture sensors owing to mounting concerns over higher crop yields and water consumption. Additionally, there has been a rise in the use of soil moisture sensors in sports turfs to help optimize irrigation with the increased number of golf courses and sports field globally.
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By geography, the soil moisture sensor market is segmented as America, Europe Middle East and Africa, and the Asia Pacific regions. Americas accounted for the major market share in 2017 owing to the large-scale adoption of agricultural technologies in the region. Better organization of water resources, enhancement in agricultural productivity, increased utilization of automatic and remote control machines in advanced economies like the U.S. will further fuel the market growth. Asia Pacific (APAC) is expected to be the fastest growing region during the projected period. The heavy dependence on the agricultural sector in the region along with the availability of low priced products from China are some of the factors complementing the expanding application of the soil moisture sensors in the region.
The soil moisture sensor market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence. Some of the major players discussed in the report are Delta-T Devices, The Toro Company, and AquaCheck among others.
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