21 June 2019, The global smart soil moisture sensor market is subject to witness a substantial growth due to the rise in overall agriculture production to sustain ever-growing population and rise in the awareness level associated with agriculture testing. Growing importance towards agriculture testing to boost agriculture production among farmers across the globe is expected to favor market demand over the forecast period.
Smart soil moisture sensor helps to measure water content in the soil. Globally, market is predicted to grow at a CAGR of 17.11%, providing numerous opportunities for market players to invest for research and development in the smart soil moisture sensor market.
The recent technological advancement in agriculture sector along with constant need to improve productivity and efficiency in crop harvesting are anticipated to drive the growth of the market over the coming years. Soil testing with the help of smart soil moisture sensor allows testing of a soil sample to govern quality and contamination hazard. With the help of soil testing, farmers can analyze and understand the required input parameters and resource necessary in optimal plant growth and their harvesting.
In addition, use of smart soil moisture sensor in soil testing helps to understand contamination level that can lead to degradation of plants and responsible for their decomposition. Smart soil moisture sensor is capable of determining the pH level of water and soil samples. Smart soil moisture sensor can measure fertility level and trace important elements from the given soil sample. Constant requirement of higher agricultural production globally has led to witnessed massive boom in smart soil moisture sensor market over the past few years, and will continue to grow exponentially in upcoming years as well.
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Furthermore, growing adoption of smart soil moisture sensor in building & construction sector and residential applications such as water content measurement in the soil at construction sites and maintenance of green lawns is driving industry expansion. Use of smart soil moisture sensor to measure water content before laying foundation for the construction is propelling market demand in the recent years. Growing use of smart soil moisture sensor for maintenance of sports growing is leading market maturation over the coming years as well. Smart soil moisture sensors are gaining widespread popularity in application involving weather forecast.
The market is broadly categorized into three major segments based on the product type such as tensiometer, gypsum block, and time domain reflectometry. The tensiometer is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. Growing popularity of the tensiometer segment is attributed to the increasing demand from Asia-Pacific region and higher market penetration.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in agriculture sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the smart soil moisture sensor market with massive growth in forecast period. Countries such as India, Japan, Indonesia, Australia, China and Singapore are leading the Asia-Pacific market with increasing overall agriculture production to sustain ever-growing population, rising disposable income, growing awareness level among farmers, favorable government policies, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the smart soil moisture sensor market are Decagon Devices, Inc., Acclima, Inc., Irrometer Company, Inc., Sentek Pvt., Ltd., The Toro Co., Stevens Water Monitoring System, Inc., Delta-T Devices Ltd., and AquaCheck Pvt., Ltd.
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