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Smart Irrigation Market Growth Drivers, Key Trends, Size, Share Analysis And Forecast To 2033
Smart Irrigation Market
Smart Irrigation Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $3.36 billion In 2028 At A CAGR Of 15.8% :
The smart irrigation market size has grown rapidly in recent years. It will grow from $1.61 billion in 2023 to $1.87 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to water scarcity, environmental concerns, precision agriculture, government regulations, urbanization and landscaping.
The smart irrigation market size is expected to see rapid growth in the next few years. It will grow to $3.36 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to climate change impact, population growth and food demand, water resource management, cost savings, increasing adoption in landscaping, government initiatives. Major trends in the forecast period include iot and big data, technological advancements, wireless connectivity, integration with weather data, remote monitoring and control, industry-specific solutions.
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Smart Irrigation Market Major Segments
The smart irrigation market covered in this report is segmented -
1) By Type: Climate-Based, Sensor-Based
2) By Technology: Evapotranspiration, Soil Moisture
3) By Component: Sensors, Controllers, Water Flow Meters, Software, Other Components
4) By End User: Agriculture, Golf Course, Residential, Other End Users
Key Driver - Smart Cities Propel The Smart Irrigation Market
The growth of smart cities is significantly contributing to the growth of the smart irrigation market going forward. The increase in the importance of efficient watering solutions for non-agricultural practices is the major driving factor for the growth of this market. As smart cities are being the ongoing trend in major parts of the world, they emphasize efficient management of water practices for both commercials as well as residential spaces. For instance, according to Cities Today, a US-based magazine, the number of smart city projects in 2020 grew by 14% from 2019 and is expected to increase at a faster rate in 2023 and 2024. Therefore, an increase in smart cities helps in the growth of the smart irrigation market.
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Prominent Trend - Redefining The Smart Irrigation Market With Precision Irrigation
Major companies operating in the market are adopting new technologies such as precision irrigation system to sustain their position. Precision irrigation is a unique and sustainable agricultural approach that allows the application of water and nutrients to plants at the right time, place, and in the right quantity. For instance, in April 2022, Viridix, an Israel-based company that manufactures irrigation solutions, launched Viridix's RooTense, a next-generation precision irrigation system with innovative AI-based autonomous capabilities that has not been seen before. This technology provides real time data, alongside the company's unique AI-based software that aggregates the RooTense data with external data from other sources and analyzes it all to provide operational insights, enabling the system to make and act on autonomous decisions. This technology can help large and small farmers to produce more with less by leveraging data-driven decisions, optimizations, and Auto-Pilot automation.
Smart Irrigation Market Players
Major companies operating in the smart irrigation market report are AquaSpy Inc., Calsense, Galcon Ltd., Hunter Industries Inc., HydroPoint Data Systems Inc., Netafim USA, Rachio Inc., Rain Bird Corporation, Stevens Water Monitoring Systems Inc., The Toro Company, Weathermatic Industries Inc., Banyan Water Inc., Caipos GmbH, Delta-T Devices Ltd., Jain Irrigation Systems Ltd., Manna Irrigation Ltd., Orbit Irrigation Products LLC, Soil Scout Oy, Valmont Industries Inc., Nelson Irrigation Corporation, Tucor Inc., Irritec S. p. A., Antelco Pty Ltd., Conserva Irrigation Holdings LLC, WaterBit Inc., Hortau Inc., Ewing Irrigation & Landscape Supply Inc., Signature Control Systems Inc., Green IQ Ltd., Hortech Systems Ltd., Spraying Systems Co., Acclima Inc., HortControl LLC
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Largest And Fastest Growing Region In The Market
North America was the largest region in the smart irrigation market in 2023. The regions covered in the smart irrigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Irrigation Market Report Structure
3. Smart Irrigation Market Trends And Strategies
4. Smart Irrigation Market - Macro Economic Scenario
5. Smart Irrigation Market Size And Growth
…..
27. Smart Irrigation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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