May 04, 2020
As per the report titled ‘Global Water Moisture Sensor Market Research Report 2020’, available with Market Study Report LLC, global water moisture sensor market share reached a valuation of USD 177.3 million in 2020 and is anticipated to accrue USD 415.7 million by the end of 2026, expanding with a CAGR of 12.8% during 2021-2026.
A water moisture sensor is a device used to measure the water content or moisture in soil. Increasing adoption of these sensors across the agriculture sector to enhance the food productivity and reduce water consumption is fueling the growth of global water moisture senor market. Low cost sensors are widely used across the residential sector for monitoring soil moisture in potted plants, lawns, and vegetable gardens. Moreover, surge in construction activities across the globe is augmenting the demand for water moisture sensors as they are used to identify wetlands before initiating construction.
On the contrary, lack of awareness among farmers regarding the product benefits, dearth of skilled professionals, and preference for traditional agriculture practices in emerging economies may hinder the market growth during the forecast period.
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Based on the product type, volumetric segment held 74% market share in 2018 and is expected to show modest growth over the forecast timeline. These devices offer high accuracy and require minimal installation time.
Speaking of the application spectrum, agriculture sector dominated the global water moisture sensor market with 35% share in 2018. Increasing use of water moisture sensor for irrigation scheduling and growing concerns regarding food security coupled with benefits such as efficient water consumption and high yields are contributing to the segment growth.
Considering the geographical landscape, North America presently accounts for 32% of total market share. Adoption of mechanized farm practices and numerous R&D activities for wireless sensor technology are driving the regional market growth. Moreover, ample support to farmers from various NGOs and federal agencies will continue to propel business lanscape in North America.
Prominent industry players include Acclima, The Toro Company, Campbell Scientific, Rainbird, Meter Group, Davis Instruments, Gardena (Husqvarna), Vernier, Dynamax, IMKO (Endress+Hauser), Irrometer, Stevens Water, Delta-T Devices, and Vegetronix.
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