Press release
Smart Irrigation Market 2020 by Current & Upcoming Trends | COVID-19 Effects | Top Market Players are Hunter Industries, Inc. (US), The Toro Company (US), Netafim (Israel), Rain Bird Corporation (US) and HydroPoint Data Systems (US)
Smart Irrigation Market
The global smart irrigation market is rapidly gaining traction. Because of the globe's rising population, the world is set to face increased food demand in the next years. Simultaneously, rapidly dwindling water supplies as a result of escalating climate change impacts necessitates the development of climate-resilient crops. All of these considerations point to the urgent necessity to implement smart irrigation systems.
Smart irrigation is a promising strategy for boosting the output of high-quality yields while lowering climate change susceptibility by reducing water waste. Smart irrigation is being promoted in agriculture as a replacement for rain-fed farming as a result of technological improvements. As a result, demand for smart irrigation is increasing, boosting its market on a global scale.
Additional factors impacting the smart irrigation 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.
On the other hand, the high costs of installation and maintenance of smart irrigation systems are a key stumbling block to market expansion. In addition, a lack of consumer understanding of the benefits of these systems limits market expansion, particularly in developing countries. Increasing technological advancements, on the other hand, would boost market expansion during the evaluation period, delivering cost-competitive options.
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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.
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.
Major Players
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.
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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 2027
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