Smart Irrigation Market to Be Worth $10.2 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'Smart Irrigation Market by Type (Weather Based, Soil Moisture Based), Component (Monitoring, Controlling, Connectivity, Software), Irrigation Type (Sprinkler, Drip, Surface, Pivot), End Use, and Geography - Global Forecast to 2030.'

According to this latest publication from Meticulous Research®, the smart irrigation market is projected to reach $10.2 billion by 2030, at a CAGR of 22.4% from 2023-2030. The growth of this market is attributed to the rising need for water efficiency & conservation, the surge in government policies to promote sustainable agriculture & efficient use of water resources, and the growing demand for soil moisture monitoring in various areas, including agriculture, landscaping, and gardening. In addition, the increasing integration of technologies such as IoT sensors, Wi-Fi, & GPS in irrigation controllers and the increasing adoption of weather and sensor-based controllers are expected to offer significant opportunities for the growth of this market.

However, the high cost of installation hampers the growth of this market. In addition, the lack of proper water infrastructure in developing countries is a major challenge to the growth of this market.

Meticulous Research® has segmented this market based on type, component, irrigation type, end use, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on type, the smart irrigation market is segmented into weather-based irrigation and soil moisture-based irrigation. In 2023, the soil moisture-based irrigation segment is estimated to account for the largest share of the smart irrigation market. This approach involves using sensors or other technology to measure the soil's moisture content and then adjusting the irrigation schedule or amount accordingly to optimize water usage and promote healthier plant growth. The large share of this segment is attributed to several factors, such as low cost, easy handling, large moisture reading capacity with continuous measurements at the same location, and long life over several seasons. Smart sensor-based irrigation technology uses soil moisture data to determine the irrigation needs of the landscape. This technology is appropriate for small, residential landscapes as well as large, managed landscapes.

Based on irrigation type, the smart irrigation market is segmented into sprinkler irrigation, drip irrigation, surface irrigation, pivot irrigation, and others. In 2023, the sprinkler irrigation segment is expected to account for the largest share of the smart irrigation market. The large market share of this segment is attributed to its growing adoption for agricultural and non-agricultural activities, growing population & urbanization, and rising number of lawns, gardens, and sport & golf grounds, where sprinkler irrigation controllers are used to control irrigation of turf and grasses.

However, the drip irrigation segment is projected to register the highest CAGR during the forecast period. Drip irrigation controllers are highly suitable for cultivating food crops because of their low cost and water consumption ability. Also, drip irrigation can increase crop yield by up to 90% compared with conventional irrigation.

Based on component, the smart irrigation market is segmented into monitoring components, controlling components, connectivity, and software. In 2023, the monitoring components segment is expected to account for the largest share of the smart irrigation market. The large share of this segment is attributed to the increasing deployment of various sensors for controlling and regulating the irrigation needs of plants according to soil and weather conditions, enabling significant water saving using accurate data of soil and plant conditions, large moisture reading capacity with continuous measurements at the same location, and long life over several seasons.

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Based on end use, the smart irrigation market is segmented into agricultural and non-agricultural. In 2023, the non-agricultural segment is expected to account for the largest share of smart irrigation. The large market share of this segment is attributed to the presence of a large number of golf courses & sports grounds, lawns, and gardens, especially in developed countries, and the increased adoption of irrigation controllers to ensure adequate water supply to these areas. Smart irrigation controllers, with Wi-Fi capabilities and smartphone application management, have become increasingly popular in the non-agriculture industry. In addition, these same tech-savvy devices can make managing one or multiple sports fields easy and water-efficient for field management.

Based on geography, the smart irrigation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the smart irrigation market. The large market share of this segment is attributed to the increasing demand for lawn and garden equipment, the presence of a large number of golf courses & sports grounds, lawns, and gardens, especially in developed countries, and increased adoption of irrigation controllers to ensure the adequate water supply to these areas.

However, Asia-Pacific is projected to register the highest CAGR during the forecast period. This market growth is mainly attributed to the rising adoption of modern irrigation techniques in developing countries, strong government support, rapid population growth, increasing need to enhance crop productivity and minimize water loss, increase in awareness among farmers about the benefits of irrigation controllers, and increased need for reducing wastage of water.

Key Players:

The key players operating in the smart irrigation market are Netafim Ltd. (Israel), The Toro Company (U.S.), Lindsay Corporation (U.S.), Rain Bird Corporation (U.S.), Valmont Industries, Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), Mottech Water Solutions Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Rachio, Inc. (U.S.), Holman Industries (Australia), Orbit Irrigation Products, Inc. (U.S.), HydroPoint Data Systems, Inc. (U.S.), Weathermatic (U.S.), Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel), and Calsense (U.S.).

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, component, irrigation type, end use, and geography?
What is the historical market size for smart irrigation systems?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, opportunities, and challenges in the smart irrigation market?
Who are the major players, and what shares do they hold in the smart irrigation market?
What is the competitive landscape like?
What are the recent key developments in the smart irrigation market?
What are the strategies adopted by major players in this market?
What are the key geographic trends and high-growth countries?

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