Precision Irrigation Market Trends and Insights: How Innovation is Shaping the Future of Agriculture

The Asia Pacific region is expected to witness the fastest growth rate concerning the precision irrigation market due to several key factors, such as rapid advancements in agriculture, increasing water scarcity, and strong government initiatives aimed at improving irrigation efficiency.
The global precision irrigation market [https://www.prnewswire.co.uk/news-releases/precision-irrigation-market-worth-6-29-billion-by-2029--exclusive-report-by-marketsandmarkets-302272806.html] is projected to expand from USD 4.18 billion in 2024 to reach USD 6.29 billion by 2029, at a CAGR of 8.5% during the forecast period. The United Nations World Water Development Report 2023 indicated that climate change will exacerbate water scarcity in regions already affected, such as the Middle East and the Sahara, while impacting currently water-abundant areas like Central Africa, East Asia, and South America. As regions globally seek efficient solutions to address escalating water scarcity and ensure food security, this will likely drive substantial growth in the precision irrigation market.

Image: https://www.marketsandmarkets.com/Images/precision-irrigation-market.webp

Precision Irrigation Market Drivers [https://www.barchart.com/story/news/29965323/precision-irrigation-market-projected-to-reach-629-billion-by-2029-key-players-are-valmont-industries-inc-netafim-hunter-industries-inc-the-toro-company-and-rain-bird-corporation]: Government initiatives to promote water conservation

Government initiatives aimed at promoting water conservation have significantly driven the growth of the precision irrigation market. Water scarcity and climate variability are among the pressing issues that governments around the world are tackling with the implementation of policies that promote efficient use of water. These initiatives typically provide financial incentives for farmers to adopt advanced irrigation technologies, along with technical support and educational programs that showcase the advantages of precision irrigation. The EU has made efforts toward efficient water management and reduced energy costs. This trend of governmental support extends beyond Spain. For instance, in November 2023, the Asian Development Bank (ADB) approved a USD 48 million loan to modernize agricultural irrigation systems in Georgia. The program emphasizes innovative agriculture production and irrigation technologies, benefiting at least 1,000 farmers with water-efficient technologies such as drip and sprinkler irrigation systems.

These government-supported programs facilitate the adoption of precision irrigation technologies and promote sustainable agricultural practices. By emphasizing efficient water management, they contribute to raising agricultural yields while protecting priceless water resources, proving the value of precision irrigation in modern farming practices.

Precision Irrigation Market Opportunities [https://www.linkedin.com/pulse/precision-irrigation-market-size-share-latest-trends-growth-scott-jambf/]: Increasing adoption of precision agriculture and sustainable practices

The increasing adoption of precision agriculture and sustainable practices has significantly boosted the precision irrigation market, creating substantial opportunities for growth. With precision irrigation, crops receive precisely the right amount of water at the right stage of growth due to the use of modern technologies like sensors, drones, and satellite imagery. This strategy improves crop yields while conserving water resources, which is consistent with sustainable agricultural methods. In recent years, greenhouse vegetable production has been increasing in various parts of the world. Increasing acreage under protected farming systems is expected to drive the precision irrigation systems market. These systems leverage data analytics to monitor soil moisture levels, weather conditions, and crop requirements, enabling real-time adjustments to irrigation schedules. The potential of precision irrigation is enhanced by integrating Internet of Things (IoT) technology, which provides farmers with valuable insights and improves overall water management.

Additionally, precision irrigation technologies are gaining popularity due to government initiatives that promote sustainable farming practices and the increasing demand for organic produce. Precision farming is increasingly adopted due to several key reasons. Primarily, rising global concerns over water scarcity and environmental sustainability drive the need for efficient water management practices in agriculture. Precision irrigation aligns perfectly with these goals by delivering water directly to the root zone of plants, minimizing evaporation and runoff compared to traditional methods like flood irrigation.

Based on component, the sensors segment is estimated to grow at the highest CAGR during the studied period.

The sensors segment of the precision irrigation market is projected to experience significant growth due to the rising demand for efficient water management and improved agricultural productivity. Sensors enhance irrigation by collecting data on soil conditions, crop water needs, weather conditions, moisture levels, pH levels, humidity, and temperature. This data helps estimate the precise amount of irrigation water required, minimizing the waste of water, energy, nutrients, and fertilizers. Additionally, sensors help prevent waterlogging and land infertility. By providing accurate information, sensors improve the productivity and profitability of land and crops, aiding growers in determining the optimal irrigation schedule, water requirements, and fertilizers.

Since sensors provide a more thorough approach to data-driven irrigation than other components like controllers and water flow meters, they are projected to grow at a higher CAGR. While controllers automate irrigation schedules and water flow meters measure usage, sensors provide the vital data needed to inform those systems. This synergy enhances overall system effectiveness, making sensors indispensable in the advancement of precision irrigation technologies.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=137052497

The Asia Pacific region is anticipated to experience rapid growth between 2024 and 2029.

The Asia Pacific region is expected to witness the fastest growth rate concerning the precision irrigation market due to several key factors, such as rapid advancements in agriculture, increasing water scarcity, and strong government initiatives aimed at improving irrigation efficiency. In August 2021, the Consulate General of Israel to South India, in collaboration with the United Planters' Association of Southern India (UPASI), Jain Irrigation Systems, and NAAOVA Irrigation, launched the Smart IoT Irrigation Project in Tea Plantation in Ooty, Tamil Nadu. Implemented on a five-acre plot within the United Nilgiri Tea Estates Company Pvt Ltd., the project integrates drip technology, automation, and fertigation. It aims to empower growers to achieve higher yields of superior quality crops while optimizing resource utilization, a solution engineered and executed by Jain Irrigation.

The government in collaboration with market players encourages modern irrigation methods like drip and sprinkler systems, which are essential for optimizing water usage and increasing crop yields. The Western Australian Government is funding commercial horticultural businesses to enhance water use efficiency, targeting those affected by a 10% groundwater reduction by 2028 under the Gnangara groundwater allocation plan. This initiative will drive the adoption of precision irrigation practices, promote efficient water management, and boost the precision irrigation market in the region.

Top Precision Irrigation Companies [https://www.marketsandmarkets.com/ResearchInsight/precision-irrigation-market.asp]

The report profiles key players such as Valmont Industries, Inc. (US), NETAFIM (Israel), Hunter Industries Inc. (US), The Toro Company (US), Rain Bird Corporation (US), Lindsay Corporation (US), Rivulis (Israel), HydroPoint (US), REINKE MANUFACTURING CO., INC. (US), AZUD (Spain), T-L Irrigation (US), and Mahindra Irrigation (India).

Recent Developments in the Precision Irrigation Industry [https://www.marketsandmarkets.com/PressReleases/precision-irrigation.asp]

In November 2024, Netafim Italia, a subsidiary of Orbia's Precision Agriculture business, has acquired Tecnir S.r.l., a Faenza-based leader in irrigation system design and installation, to strengthen its position in precision irrigation for Italian agribusiness. The acquisition enhances Netafim Italia's offerings with Tecnir's expertise in innovative and sustainable irrigation solutions, aligning with its strategy to support efficient water use and address the needs of Italian farmers and Green Economy professionals.

In September 2024, Rivulis (Israel) announced the opening of its largest micro-irrigation manufacturing facility in North America. This 160,000-square-foot facility in Tijuana, Mexico, will manufacture T-Tape goods. With its advanced technology, the new facility has produced about 200 jobs locally, is built for future growth, and maximizes recycled materials and product quality.

In August 2024, Rain Bird Corporation (US) announced the acquisition of Adritec Group International's Jordanian and Mexican assets. This acquisition is expected to enhance Rain Bird's agricultural irrigation capabilities in the Middle East, Africa, and Latin America. It enables the business to take advantage of Adritec's experience and broaden its product line, particularly in drip irrigation.

In April 2024, Mahindra Irrigation (India) announced that it had received contracts to supply micro-irrigation systems for about 2,700 hectares of land. The contract is worth USD 1.59 million and will be completed within a year.

In January 2024, Lindsay Corporation (US) introduced FieldNET NextGen, a new user interface for its FieldNET platform that makes managing precision irrigation easier. The new interface offered farmers clear and intuitive maps, graphics, and real-time analytics for efficient irrigation control and monitoring. It features better mapping, intelligent reporting, and remote control, giving farmers a complete view of their fields.

Key Questions Addressed by the Precision Irrigation Market Report [https://www.marketsandmarkets.com/Market-Reports/precision-irrigation-market-137052497.html]:

What is the current size of the precision irrigation market?

What are the key market players, and how intense is the competition?

Which region is estimated to account for the largest share of the precision irrigation market in 2024?

What kind of information is provided in the company profiles section?

What are the factors driving the precision irrigation market?

About MarketsandMarkets Trademark

MarketsandMarketsTM has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=precision-irrigation-market-trends-and-insights-how-innovation-is-shaping-the-future-of-agriculture]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/precision-irrigation-market-137052497.html



This release was published on openPR.