Soil Moisture Sensor market report forecasts the market size for various segments with regard to4 main regions—the Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW).Soil Moisture Sensor Market 2023 is Market Overview, Trends and Forecast till 2023 report added on reportsnreports.com. The Soil Moisture Sensor Market is expected to grow from USD 131.7 million in 2018 to USD 264.0 million by 2023, at a CAGR of 14.92% between 2018 and 2023.
Major players in the soil moisture sensor market include METER Group (US), Irrometer Company (US), The Toro Company (US), Campbell Scientific (US), Delta-T Devices (UK), Spectrum Technologies (US), Sentek (Australia), Stevens Water Monitoring Systems (US), E.S.I. Environmental Sensors (Canada), and IMKO Micromodultechnik (Germany).
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The growing demand for the improved productivity, increasing stringency of environmental regulations, and the gradual shift in the climatic conditions are the major factors driving the growth of the soil moisture sensor market. The spatial variability in the soil poses as a major restraint for this market.
“The market for soil water potential sensors is expected to grow at a higher CAGR during the forecast period”
The market for soil water potential sensors is expected to grow at a higher CAGR during the forecast period. Soil water potential sensors are affordable and can be used in any soil condition.
They require little maintenance and are accurate enough in most applications.
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“The agricultural application is expected to hold the largest share of the soil moisture sensor market during the forecast period”
The agricultural application is expected to lead the market between 2018 and 2023. Agriculture is the primary application of soil moisture sensors.
The early adoption of soil moisture sensors in irrigation scheduling in the farms has been contributing to the dominating position of this application in the soil moisture sensor market. The use of soil moisture sensors in agriculture leads to the optimization of water usage, increase in product yield, production of high-quality crops, and reduction in the environmental degradation occurring through water resource depletion.
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“The soil moisture sensor market in APAC to grow at the highest CAGR during the forecast period”
The market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The growth of the market in APAC is attributed to the increasing shift in the pattern of climatic conditions; adoption of soil moisture sensors in applications such as research studies, sports turf, weather forecasting, and construction; and rising awareness about these sensors among the small farm owners in the region.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 = 35 %, Tier 2 = 40%, and Tier 3 = 25%
- By Designation: C-Level Executives = 60% and Directors= 40%
- By Region: Americas = 50%, Europe = 15%, APAC = 30%, and RoW = 5%