Growing Demand for Food to Encourage Growth of Global Smart Irrigation Market: Study

Agriculture is one of the most important industry across the globe and with several technological advancements, this industry has been growing at a significant rate in the last few years. The advent of smart irrigation in the agriculture industry has offered with a large number of advantages to the farmers across the globe. Thus, they have been using and promoting the smart irrigation techniques the all the farmers worldwide. With the help of smart irrigation, the status quo of how the farming depends on the weather conditions have changed completely.

Thanks to the developments in the industry, the global market for smart irrigation is predicted to register a promising 13.10% CAGR between 2017 and 2026.

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Some of the major advantages of making use of smart irrigation techniques have been given below:

With the use of smart irrigation, there has been a significant reduction in the wastage of resources.
The production capacity has been increased, thus catering to the rising demand for food across the globe.
The growing need for water conservation is one of the key factors expected to encourage the growth of the market.
Several new technological advancements in the irrigation techniques to offer new opportunities for the market players.
Furthermore, the adoption of irrigation drones is another key factor likely to accelerate the growth of the smart irrigation market.

On the flip side, the lack of awareness related to the techniques of smart irrigation is considered as one of the major factors, anticipated to restrict the growth of the global smart irrigation market in the next few years. In addition to this, the requirement of high initial cost is another key factor likely to curtail the growth of the market in the near future. Nevertheless, the key players in the market are focusing on developing nations, which holds immense growth potential for the smart irrigation market.

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North America and Europe to lead Global Smart Irrigation Market

Among the key regional segments, North America is projected to witness high growth and is likely to account for a large share of the global smart irrigation market in the next few years. The high growth of this region can be attributed to the availability of funds that are required for the development of smart irrigation. Moreover, the willingness to accept and make use of new technologies is another major factor likely to encourage the growth of the North America market in the next few years. Europe is estimated to stand on the second position in the global smart irrigation market, further followed by Asia Pacific.

Furthermore, the global market for smart irrigation is competitive in nature and is estimated to witness a promising rise in the level of competition in the next few years. The expected entry of new players is likely to strengthen the competitive scenario of the overall market in the near future.

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Some of the key players operating in the smart irrigation market across the globe are Rain Bird Corporation, HydroPoint Data Systems, Inc., Netafim Ltd., Rachio Inc., Galcon Ltd., The Toro Company, Hunter Industries Inc., Orbit Irrigation Products Inc., Telsco Industries Inc., Valmont Industries, Inc., and Blossom. These players are focusing on research and development activities and innovation in the field of irrigation to offer better and advanced techniques to the farmers, in order to enhance their production quantities in the next few years.

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