Portland, Oct. 12, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global soil moisture sensor market was pegged at $215.8 million in 2019, and is anticipated to reach $411.2 million by 2027, registering a CAGR of 9.1% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
The ability of soil moisture to act as a vital parameter for agriculture propels the growth of the global soil moisture sensor market. On the other hand, emergence of soilless farming techniques curtails down the growth to certain extent. Nevertheless, advent of wireless soil moisture sensors is anticipated to pave the way for numerous opportunities for the key players in the sector.
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Covid-19 scenario-
Covid-19 mandated several restrictions on a number of trading activities. But, agricultural activities were excluded from the writ of lockdown. At the same time, scarcity of raw materials and disruptions in the supply chain hampered the manufacturing of agricultural equipment such as soil moisture sensors to certain extent.
Nonetheless, government bodies across the world are imposing relaxations on the existing regulations, thereby enabling the global soil moisture sensor market to recoup their projects yet again.
The global soil moisture sensor market is analyzed across product, type, application, and region. By product, the volumetric segment contributed to more than four-fifths of the total market share in 2019 and is expected to lead the trail by 2027. The same segment would also manifest the fastest CAGR of 9.2% during the study period.
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By type, the digital segment accounted for more than half of the total market revenue in 2019 and is anticipated to rule the roost by the end of 2027. Simultaneously, the analog segment would grow at the fastest CAGR of 9.5% throughout the forecast period.
By region, North America garnered the major share in 2019, generating nearly two-fifths of the global market. At the same time, Asia-Pacific would register the fastest CAGR of 10.8% from 2020 to 2027. The other provinces covered in the report include Europe and LAMEA.
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The key market players analyzed in the global soil moisture sensor market report include Delta-T Devices Ltd, Vegetronix Inc., Stevens Water Monitoring Systems Inc., Acclima Inc., SDEC France, Smartcultiva Corporation, OTT Hydromet GmbH, Spectrum Technologies Inc., METER Group Inc., and Trellis. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.