The Future of the Smart Irrigation Industry, Market Growth, and Research Report
Posted by edwardzmusso on May 2nd, 2022
The smart irrigation market is projected to grow from USD 1.2 billion in 2021 to reach USD 2.3 billion by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.9 % from 2021 to 2026. The government initiatives for promoting water conservation has led to surge in the adoption of smart irrigation systems. In addition to this, factors such as growth of smart cities and need for efficient irrigation systems, decreasing cost of sensors and controllers used in smart irrigation systems are expected to fuel the smart irrigation market.
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“Market for sensor-based systems expected to grow at a higher CAGR during the forecast period”
The smart irrigation market for sensor-based systems is expected to witness the highest growth rate during the forecast period. This growth can be attributed to the increasing adoption of sensor-based systems in agricultural irrigation to save water and increase crop yield. The sensor-based systems are capable of interpreting precise data from various sensors, such as temperature, soil moisture, rain, and humidity sensors that are being installed on the field. Additionally, the sensor-based systems are preferred over the weather-based systems as they do not rely on weather forecasts or on data from weather stations. Sensor-based systems help to capture data from sensors that are mounted on the field and then they transfer the data to the cloud. Sensor-based smart irrigation controllers are pre-programmed according to the level of moisture present in the soil. Therefore, the smart irrigation system starts irrigating that particular zone or field as soon as the reading reaches below the threshold level. They are more effective than weather-based systems as they can respond to specific zone irrigation requirements based on actual soil moisture levels.
“Market for agriculture application segment expected to grow at a faster rate, than that of non-agriculture segment, during the forecast period”
The market for the agriculture application is expected to grow at a higher CAGR during the forecast period owing to the increasing demand for quality food globally, initiatives taken by various government bodies for water conservation, and decreasing prices of smart controllers and sensors. The demand for smart irrigation systems from the agriculture application has been on the rise. Major factors contributing to the growth of the smart irrigation market for agriculture include the number of initiatives undertaken by various governments to promote water conservation, a surge in farming operating costs, decreasing cost of sensors and controllers, growing emphasis on increasing farm productivity and profits using smart irrigation solutions.
“Smart irrigation market for sensors to exhibit fastest growth during the forecast period”
The sensor-based irrigation controller segment is expected to grow at a higher CAGR during the forecast period. The factors driving the growth of the sensor market include the gradual shift in climatic conditions, increasing stringency of environmental regulations, and growing need for improving crop productivity. Likewise, the rapid advancement in wireless technologies is paving way for the market growth. For example, integration of Wi-Fi or cloud-based systems in plant canopy along with soil moisture sensors to receive real-time data on field conditions and utilizing GPS for the movement tracking of central pivot or linear move machines are also acting as the key determinants fueling the growth of the target market. The increasing adoption of soil moisture sensors, rain sensors, and fertigation sensors for irrigation scheduling at agriculture farms is expected to fuel the growth of this market during the forecast period.
“Americas to hold the largest share of smart irrigation market throughout forecast period”
Americas is expected to account for the largest share of the smart irrigation market during the forecast period. The Americas held the largest market share owing to the early adoption of smart irrigation technologies by countries such as the US and Canada. The Americas have the highest number of smart irrigation systems installed at farms, residential landscapes, and golf courses. This region is home to several major players in the smart irrigation market; some of these are The Toro Company (US), Hunter Industries (US), Rain Bird Corporation (US), HydroPoint (US), Rachio (US), Banyan Water (US), GroGuru (US), Orbit Irrigation Products (US) and Rain Machine (US). These companies have contributed to the growth of the smart irrigation market in the Americas by launching innovative products and services and spending extensively on the R&D of smart irrigation solutions.
Key players in the smart irrigation market include Rain Bird Corporation (US), The Toro Company (US), Hunter Industries (US), Netafim (Israel), HydroPoint (US), Manna Irrigation (Israel), Stevens Water Monitoring Systems (US), Galcon (Israel), Rachio (US), Weathermatic (US). Apart from these, Jain Irrigation Systems (India), Banyan Water (US), Delta-T Devices (UK), Calsense (US), Skydrop (US), AquaSpy (US), Soil Scout (Finland), Caipos (Austria), Acclima (US), Rain Machine (US) are among a few emerging companies in the smart irrigation market.
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About the Authoredwardzmusso
Joined: February 8th, 2021
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