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What Is the Expected CAGR for the Smart Irrigation Market Through 2025?
There has been a swift expansion in the size of the smart irrigation market in the preceding years. Projections indicate an increase from $1.86 billion in 2024 to $2.16 billion in 2025, which represents a compound annual growth rate (CAGR) of 16.2%. This surge during the historical period is associated with factors such as water scarcity, environmental considerations, accuracy in agriculture, governmental laws, urbanization, and landscaping.
What's the Projected Size of the Global Smart Irrigation Market by 2029?
The market size for smart irrigation is projected to experience swift expansion in the following years, reaching a valuation of $3.94 billion in 2029 with a compound annual growth rate (CAGR) of 16.2%. This predicted growth during the forecast period can be credited to influences such as the effect of climate change, growing population and food demand, management of water resources, cost reduction benefits, increased use in landscaping, and government intervention. Key trends for the forecast period include the utilization of IoT and big data, technological progression, wireless connectivity, amalgamation with weather information, distant monitoring and control, and solutions specific to various industries.
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Top Growth Drivers in the Smart Irrigation Industry: What's Accelerating the Market?
The expansion of smart cities is playing a significant role in driving the growth of the smart irrigation market. A primary contributing factor to this market's growth is the increasing significance of effective water solutions for non-agricultural applications. With the advancing trend of smart cities worldwide, there is a focus on optimized management of water practices for both business and residential areas. For instance, as presented by the Smart City Index Report from Switzerland's IMD Business School in April 2023, there was a 16.3% rise in the count of smart cities, escalating from 118 in 2021 to 141 in 2023. Consequently, the rise in smart cities facilitates the growth of the smart irrigation market.
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What Trends Will Shape the Smart Irrigation Market Through 2029 and Beyond?
Leading companies in the market are integrating new technology such as precision irrigation systems to maintain their market dominance. Precision irrigation presents a novel and sustainable farming method that ensures water and nutrients are provided to plants at the appropriate time, location, and quantity. For instance, Viridix, an Israeli company specializing in irrigation solutions, unveiled its next-generation precision irrigation system - Viridix's RooTense, in April 2022. This cutting-edge system is equipped with unique AI-based autonomous functions unseen before. It offers real-time data and features the company's unique AI software that synthetizes this data with external data sources, providing valuable operational insights. RooTense then makes and implements autonomous decisions based on this data. This technology enables both large-scale and small-scale farmers to increase productivity while reducing inputs, by exploiting data-informed decisions, enhancements, and Auto-Pilot automation.
What Are the Main Segments in the Smart Irrigation Market?
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
Subsegments:
1) By Climate-Based: Evapotranspiration Controllers, Weather-Based Irrigation Controllers, Climate Data Monitoring Systems
2) By Sensor-Based: Soil Moisture Sensors, Rain Sensors, Temperature Sensors, Flow Sensors
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Which Top Companies are Driving Growth in the Smart Irrigation Market?
Major companies operating in the smart irrigation market include 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
Which Regions Will Dominate the Smart Irrigation Market Through 2029?
North America was the largest region in the smart irrigation market in 2024.The regions covered in the smart irrigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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