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Precision Irrigation Market Size Projected To Reach $20.29 Billion By 2034 With A Cagr Of 16.2%
Precision Irrigation
What Is the Projected Growth of the Precision Irrigation Market?
There has been a notable acceleration in the expansion of the precision irrigation market in the last few years. It is anticipated to surge from $9.55 billion in 2024 to $11.13 billion in 2025 with a compound annual growth rate (CAGR) of 16.6%. The historic progression is likely due to heightened awareness about water scarcity and drought situations, effects of climate change, amplified use of IoT and AI technologies, enlargement of farm areas, and escalating labor costs.
The market size for precision irrigation is predicted to experience swift growth in the coming years, rising to $20.29 billion in 2029 with a compound annual growth rate (CAGR) of 16.2%. Factors contributing to this growth during the forecast period include adaptation to climate change, the need for sustainable farming solutions, the adoption of advanced agriculture practices and increasing awareness about the link between water. The forecast period is also expected to see emerging trends like integration with digital farming platforms, improvement in water management solutions, adopting climate-smart agricultural practices, optimizing the water-energy nexus, IoT, and sensor technologies.
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What Are the Different Precision Irrigation Market Segments?
The precision irrigation market covered in this report is segmented -
1) By Type: Sprinkler Irrigation, Drip Irrigation
2) By Offering: Solutions, Services
3) By End User: Agriculture, Residential, Turf And Sport Fields, Golf Courses, Parks, And Landscapes, Other End Users
Subsegments:
1) By Sprinkler Irrigation: Center Pivot Irrigation, Lateral Move Irrigation, Fixed Sprinkler Systems, Mobile Sprinkler Systems
2) By Drip Irrigation: Surface Drip Irrigation, Subsurface Drip Irrigation, Online Drip Irrigation, Point Source Drip Irrigation
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What Are the Primary Drivers Shaping the Precision Irrigation Market?
The growth of the precision irrigation market is expected to be driven by the escalating demand for agricultural products. Such products are essentially goods manufactured through farming or agricultural operations. With the ascent of population growth, dietary changes, biofuel production, urban development, and concerns about food security, the demand for these products has been progressively magnifying. Precision irrigation plays a crucial role in agriculture, furnishing an accurate and efficient means to water crops, optimize water usage, decrease water wastage, and enhance crop yields. For instance, according to a report by Agriculture and Agri-Food Canada in January 2023, Canada had amplified its total field crop production by 34.1% compared to 2021. Moreover, in the 2022-23 span, the wheat production of Canada (excluding durum) witnessed a 47% augmentation compared to the prior year, amounting to 28.4 million metric tons. Hence, the burgeoning demand for the agriculture sector is fostering the expansion of the precision irrigation market.
Which Companies Are Leading in the Precision Irrigation Market?
Major companies operating in the precision irrigation market are Deere & Company, The Toro Company, Valmont Industries, Trimble Navigation Limited, Netafim Ltd., Rain Bird Corporation, Lindsay Corporation, Jain Irrigation Systems Ltd., Ewing Irrigation & Landscape Supply, Hunter Industries, Rivulis Irrigation Ltd., Reinke Manufacturing Company Inc., T-L Irrigation Co, Nelson Irrigation Corporation, Grodan B.V., Hydropoint Data Systems Inc., Cadman Power Equipment Ltd., Signature Control Systems Inc., Precision Lawn Irrigation Inc., Aquaspy Inc., CropMetrics LLC, Hortau Inc., Irrometer Company Inc., Mahindra EPC Industries Limited, AgSmarts Inc., Precision Irrigation Services Pvt Ltd
What Are the Major Trends Shaping the Precision Irrigation Market?
Leading corporations in the precision irrigation industry are concentrating on the creation of advanced filtration processes like the AlphaDisc filters, which are designed to bolster the protection of irrigation systems against clogging from organic pollutants. The AlphaDisc filtration mechanism is a groundbreaking technology which leverages new methods, materials and designs to successfully eliminate contaminants and particles from a liquid. For example, in February 2022, the Malaysia-based technology firm, Netafim, revealed its latest product, the AlphaDisc filter. This unique filtration system is aimed at safeguarding irrigation setups from clogging brought about by organic pollutants. The state-of-the-art filter boasts high efficiency, accuracy in depth filtration, considerable dirt-holding ability, and a hyper-modular construction which allows adaptability as the requirements of growers change. Furthermore, its strengths include high efficiency, substantial dirt-holding ability, a hyper-modular structure, and an intelligent controller. These combined capabilities make this filter essential for cultivators, especially considering the issues brought about by degrading water quality resulting from climate alterations, pollution, among others. Ultimately, these features help to enhance growing conditions, minimize clogging risks, and boost crop output.
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What Are the Top Revenue-Generating Geographies in the Precision Irrigation Market?
North America was the largest region in the precision irrigation market in 2024. The regions covered in the precision irrigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Precision Irrigation Market?
2. What is the CAGR expected in the Precision Irrigation Market?
3. What Are the Key Innovations Transforming the Precision Irrigation Industry?
4. Which Region Is Leading the Precision Irrigation Market?
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