Smart Irrigation Market Research Report- Forecast to 2022
The global smart irrigation market is estimated to ascend at a reasonable pace, witnessing an impressive 18.6% CAGR during the forecast period, as stated in the latest analysis by Market Research Future (MRFR). The market is also expected to reach a market valuation of USD 1.87 billion by the end of 2023. Smart irrigation technology aids in the monitoring of weather, water and soil conditions through the automation of irrigation systems with the help of sensors, controllers, and meters. These systems are efficient, cost-effective, and data-driven.
The global market for smart irrigation is rapidly ascending owing to the proliferation of IoT-based architecture in irrigation systems. The IoT-based smart irrigation aids farmers in the avoidance of wastage of resources and improves the crop growth through determination of soil moisture level and optimum water utilization for irrigation. Moreover, smart irrigation aids in cost minimization for irrigation with optimum utilization of resources.
Additionally, the adoption of smart irrigation methods can also help in the elimination of several glitches through using controllers that help in analyzing and detection of problems in real-time. This aids farmers in taking immediate action, lowering the amount of damage caused. Also, water scarcity is one of the primary factors driving the global smart irrigation market during the forecast period.
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The smart irrigation market is segmented by type, vertical, component, application, and region to gain a better understanding of the landscape. By type, the market is segmented into sensor-based controller system and weather-based controller system. The weather-based controller system uses weather-based data to determine the amount of water evaporated from the field. It automatically adjusts the duration of irrigation, depending on the present climatic conditions.
By component, the global smart irrigation market is segmented into water flow meter, sensors, controllers, and fertilizer meter. The sensors segment is further sub-segmented into temperature sensor, moisture sensor, rain sensor, dendrometer sensor, freeze sensors, flow sensors, and wind sensors.
By application, the smart irrigation market is segmented into residential AC powered controllers, Wi-Fi controllers, hybrid controllers, battery controllers, and electric controllers. By vertical, the market for smart irrigation is segmented into agriculture and non-agriculture. The agriculture segment is further analyzed for the sub-segments of open field and greenhouse. The non-agriculture segment is segmented into turf & landscape, residential, and golf course.
Detailed Regional Analysis
The smart irrigation market is segmented into the regions of North America, Europe, Asia-Pacific, and the rest of the world. North America is accounting for the dominant share of the market during the forecast period owing to the presence of several key market vendors in the region. Moreover, presence of early technology adopters in the region and upscaling investments in the research and development of smart irrigation by the US and Canada are other factors supplementing market growth for smart irrigation.
Asia Pacific is expected to garner the fastest growth in the smart irrigation market during the review period of 2018-2023. This can be owed to the water preservation concerns rising in the region. Further, ascending adoption of digital technologies such as meters, smart controllers, and sensors for irrigation in countries such as India and China are also fostering market growth.
Some notable players in the smart irrigation market include The Toro Company(US), Rain Bird Corporation(US), Hunter industries (US), Netafim(Israrel), Stevens Water Monitoring System(US), Galocn (Israrel), Rachio (US), Weathersmatic (US), Banyan Water(US).
Sept 2019: Huddle Expo 2019 displayed a range of products that were nature-friendly and socially impactful, in Kerala. One of the products was SmartGro, which is smart irrigation system that drips water according to the nature of the soil and the crop. This is made of smart micro-organism removing bottles made from Nano-fibre membrane.
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Global Smart Irrigation Market Research Report, Component (Sensors, Controller), Application (Water Resource Management), Vertical (Agriculture, Non-Agriculture), Type (Weather based controller system, Sensor based controller system)— Forecast till 2023
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