Market Overview
The Global Smart Irrigation Market is expected to grow at a CAGR during the forecasting period (2024 - 2031).
Smart irrigation system monitors soil, water, and weather conditions by automating the irrigation system utilizing sensors, meters, and controllers and are data-driven, cost-effective, and efficient. In the past couple of years, the popularity of smart irrigation systems has increased considerably owing to improved acceptance in non-agriculture applications and incredible development in modern agriculture. Smart irrigation systems are a grouping of the essential component of precision agriculture and innovative technology. These help monitor soil conditions, plant water use, and whether to automatically modify the irrigation schedule. These systems are utilized in the sports fields, residential, and agriculture sectors.
Market Dynamics
The rising penetration of digital, automated, monitoring systems in the farming sector is expected to drive the market growth
The rising penetration of digital, automated, monitoring systems in the farming sector is expected to drive the market of smart irrigation. Moreover, the growing integration of AI and wireless sensors with irrigation dripping and sprinklers systems is also propelling the growth of the smart irrigation market. Furthermore, the increasing various government policies and initiatives to overcome several agricultural challenges, including demographic alteration, water wastage, unpredictable climate change, water scarcity, etc., is likely to enhance the demand for the smart irrigation market in upcoming years. Various government organizations are also launching training programs for the farmers to give them technical knowledge for managing smart irrigation controllers. Additionally, the growing penetration of smartphones within farmers and increasing proclivity towards agriculture-associated software use which provides remote monitoring and automatic irrigation scheduling is also boosting the market growth.
Market Segmentation
The Sensor-Based Systems segment, holding about XX% of the global market
By system type, the sensor-based systems segment is was hold the largest market share in 2020 and is anticipated to continue its dominant position within the projected years. This is owing to the growing adoption of sensor-based systems to save water and enhance crop yield. These systems are efficient in collecting precise data from different sensors, including temperature, rain, humidity, and soil moisture sensors that have been installed for agriculture farms. Furthermore, sensor-based systems are chosen over weather-based systems because they do not depend on data from weather stations or weather forecasts. Sensor-based systems make it easier to collect data from sensors that are installed on the farm and then they transmit the data to the cloud. Moreover, These type of controllers is pre-programmed as per the level of moisture that existed in the soil.
Geographical Penetration
Asia Pacific is the largest market for smart irrigation with a share of nearly XX% in global sales value in 2020
By geography, the Asia Pacific region is account for the largest market share in 2020 and is anticipated to be the dominating regional market over the forecast period. This is due to the increasing acceptance of IoT-based irrigation systems in countries including India and China growing penetration of various devices and smartphones to remotely retrieve field data, and increasing investments in the agricultural sector in the region. Moreover, the necessity for smart irrigation is more in this region as several stringent government regulations on water conservation in the region. The major contributor countries in the region are India, China, Japan, and South Korea as the agricultural sector is important in the Asia Pacific. North America is estimated to exhibit lucrative growth the for smart irrigation market in the upcoming years, owing to the high adaption rate of smart irrigation systems in the region.
Source: DataM Intelligence Analysis (2022)
Competitive Landscape
The global smart irrigation market is highly competitive with many formulators. Some of the market’s major players include Rain Bird Corporation, Manna Irrigation, The Toro Company, Galcon, Hunter Industries, Jain Irrigation Systems, Weathermatic, Netafim
Banyan Water., among others. They have strengthened the market through their product offerings. Continuous innovation to introduce new products with functional benefits is the key competitive factor in the market. For instance, in September 2018, Jain Irrigation, Inc., has announced the acquisition of ETwater, an innovator of intelligent irrigation technology. By acquiring ETwater the company has. expands its water management technology product portfolio.
COVID-19 Impact: The market witnessed a negative impact
The latest crisis of the epidemic of COVID-19 has had a considerable impact on the agriculture sector around the globe. Farming activities have been hampered in various Regions due to the regulation imposed by various governments which impacted the transport, but farming is back to normal condition after lockdown across the globe. The demand for agricultural commodities is not affected in the Asia Pacific during the pandemic but in Europe and the American region, it was lower for a few months. the coronavirus affected the USA, the Netherlands, Germany, China, France, Italy, India, Spain, Brazil, and other major nations involved in agricultural production. The import and export of agricultural commodities were badly affected during the lockdown. The influence of COVID-19 is a lot higher on the developed countries, the multination firms would focus their strategies and energies more on these countries as compared to the poor and developing countries.
Why Purchase the Report?
• Understand the current market scenario and viability of global smart irrigation over the forecast period
• Visualize the composition of the global smart irrigation market in terms of product type and application to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining to the market
What we offer?
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global smart irrigation market Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
Target Audience
• Agriculture Technology Companies
• Farmer Communities
• Agriculture Finance Corporation
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professional
