The glaring scarcity of water globally is pushing users to find new ways to adopt better methods for water usage and consumption. Market reports linked to the semiconductors and electronics industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is set to attain revenues worth USD 1561 Million by 2022 while developing at 17% CAGR in the forecast period.
The global smart irrigation market can exhibit 18.6% CAGR from 2018 to 2023 due to proliferation of IoT based systems in agriculture. Rise in precision farming which provides farmers with ample data and control over other metrics for rapid production of crops. Real-time monitoring of crops which can assist farmers in taking preventive measures and improve crop growth can drive the global market growth.
Nearly 35% of the global populace suffers from effective water management. The shift towards modern methods from conventional ones will work in favor of the market. The use of soil sensors capable of attaining precise data from changing climatic conditions will be a pivotal driving force of the market.
Applications in residential areas to maintain lawns and turfs in golf courses will require smart irrigation systems. Initiatives by governments to minimize water wastage and keep water bills at a minimum are expected to drive market growth.
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The global smart irrigation market is segmented by component, application, vertical, and type.
By component, it is segmented into sensors, controllers, and others. The controller’s segment is predicted to generate maximum revenues for the global smart irrigation market owing to the use of these systems to gain accurate information on soil and climatic conditions. On the other hand, sensors can accrue large revenues due to being programmed to operate according to appropriate conditions.
By application, it is segmented into soil management, ground water management, and water resource management. Among them, the water resource management segment is touted to be the largest segment till 2023.
By vertical, it is segmented into agriculture and non-agriculture. The latter is projected to gain a large market share due to the use of water for maintenance of lawns, turfs, and pitches. Importance of smart irrigation systems and need for efficient water management systems which maintain turfs and conserve water levels can drive the segment growth. Need for smart systems in maintaining schoolyards, parks, and gardens can offer numerous opportunities to the market.
By type, it is segmented into sensor based controller system and weather controller system. The weather controller system segment is expected to gain a large market share owing to adoption by farmers. Emphasis on productivity and efficiency is the major growth driver of the segment.
The smart irrigation market includes regions such as the Asia Pacific, Americas, Europe and Rest of the World in its regional analysis. The North America region is anticipated to control in the market in the forecast period due to the growing worry surrounding water conservation and the need to curtail the wastage of resources by the governments in the North American region. The government initiatives towards smart irrigation in North America region is motivating the smart irrigation market in this region. The Asia Pacific countries like Japan, China, India, and Korea are anticipated to show a rapid spike in demand for smart irrigation. The Asia Pacific region is anticipated to progress as the most rapidly rising region in the smart irrigation market.
Major Key players
The leadership inclinations in the market are strengthening the level of development that can be achieved in the existing market scenario. The changes seen in terms of strategy execution and creation are altering the expansion pace of the market. The plan formulation process in the market has become extensively easier in which deviations are well accounted for; this approach raises the comprehensive success of these plans in the market. The evolution patterns are revised in tandem to the customer likings to realize the highest growth, and in the long run, viability. The framework for growth tactics also has stimulated the market for possible new entrants. The market is also well fortified to meet the challenges and keep up with the active growth trends effectively. The market contenders are making considerable adjustments to minimize the incidence of competitive shortcomings.
The influential companies in the smart irrigation market are Rain Bird Corporation (U.S.), Libelium (Spain), HydroPoint (U.S.), The Toro Company (U.S.), AquaSpy (U.S.), Aquacell Systems (Australia), Baseline Inc. (U.S.), Hortau (U.S.), Hunter Industries (U.S.), among others.
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Table of Figures
FIGURE 1 Global Smart Irrigation Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Smart Irrigation Market
FIGURE 4 Value Chain Of Global Smart Irrigation Market
FIGURE 7 Share Of Global Smart Irrigation Market In 2018, By Country (In %)
FIGURE 6 Global Smart Irrigation Market, 2018-2023,
FIGURE 7 Global Smart Irrigation Market Size By Type, 2018
FIGURE 8 Share Of Smart Irrigation Market By Type, 2018 TO 2023
FIGURE 9 Global Smart Irrigation Market Size By Application, 2018
FIGURE 10 Share Of Smart Irrigation Market By Application, 2018 TO 2023
FIGURE 11 Global Smart Irrigation Market Size By Component, 2018
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