The global smart irrigation market is gaining momentum pervasively. The growing population indicates that the world is about to confront an intensified demand for food in the years to come. Simultaneously, rapidly depleting water resources due to the increasing impacts of climate change prompts the need for climate-resilient crops. All these factors cumulatively presage the acute need to deploy smart irrigation techniques.
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Smart irrigation is a viable solution for increasing the output of quality yield and reducing the vulnerability to climate change by curtailing water wastage. Technological advancements are promoting smart irrigation in agriculture, substituting rain-fed farming. Therefore, the demand for smart irrigation is augmenting, elevating its market on the global platform.
Additional factors impacting the market growth include continual economic growth worldwide, enhancing consumer purchasing power and the quality of life. Substantial R&D investments are paying off well by bettering smart watering systems, hence the demand, sales, and eventually, the market size. Furthermore, the proliferation of IoT contributes to market growth, enhancing efficiencies of sensors used in the systems.
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On the flip side, high costs associated with the installation and maintenance of smart irrigation systems are a major factor impeding market growth. Also, the lack of awareness among consumers towards the benefits of these systems restricts the market growth, especially in the underdeveloped regions. Nevertheless, increasing technological innovations would support the market growth throughout the assessment period, presenting cost-competitive solutions.
Smart Irrigation Market - Segments
The report is segmented into components, verticals, applications, and regions. The components segment is sub-segmented into controllers, sensors, meters, and others. The sub-segment controller is bifurcated into wifi controllers, electric controllers, hybrid controllers, battery controllers, and others.
The sub-segment sensor is bifurcated into temperature sensors, soil moisture sensors, rain sensors, dendrometer sensors, freeze sensors, and others. The sub-segment meter is bifurcated into water flow meter, soil meter, fertilizer meter, and others.
The application segment is sub-segmented into groundwater management, water resource management, soil management, and others. The vertical segment is sub-segmented into agricultural, non-agricultural, commercial, industrial, residential, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Smart Irrigation Market - Regional Analysis
North America dominates the global smart irrigation market, Factors such as high disposable income and vast investments in agriculture projects positively impact the regional market growth. Investments in smart irrigation technology in the US and Canada are highly impressive. Also, the vast agricultural sector in the US is adopting smart irrigation systems at a rapid pace, substantiating the market demand in turn.
Europe holds the second significant share in the global smart irrigation market. The market is largely driven by regulatory laws implemented to increase crop yields.
Besides, green zone projects in countries like the UK and France increase the market demand significantly. Furthermore, favorable incentives policies to purchase smart watering solutions foster the growth of the regional market.
The Asia Pacific, too, holds a considerable share in the global smart irrigation market. Factors such as the vast areas of agricultural land, water scarcity, and demand for proper watering solutions boost the smart irrigation market size. Additionally, the improving economy of this region fosters market growth. India, China, and Japan are major smart irrigation markets in the region.
Smart Irrigation Market - Competitive Analysis
The global Smart Irrigation market appears to be fiercely competitive and fragmented, with many well-established players having a global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
Players leading the global smart irrigation market include Rain Bird Corporation (US), Hunter Industries (US), The Toro Company (US), Galocn (Israel), Netafim (Israel), and Stevens Water Monitoring System (US), among others.
Industry/ Innovation/ Related News
Aug.16, 2020 – Viridix (Israel), a developer of data-driven precision irrigation systems, announced its partnership with Talgil (Israel), a manufacturer of professional irrigation controllers, to offer farms cutting-edge smart irrigation. The partnership would provide farmers with the ability to automate irrigation cycles by optimizing water needs for each crop, combining Viridix’s data-driven technology with Talgil’s irrigation control systems.
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