Market Highlights: —
Smart irrigation refers to irrigation technology that can monitor the weather, water, and soil conditions by automating the irrigation system. Irrigation systems are automated by using controllers, meters, and sensors. Smart irrigation systems are highly efficient, cost-effective, and data-driven. The global smart irrigation market is anticipated to garner an approximate revenue of USD 1.87 billion by the end of 2023.
One of the primary factors driving the smart irrigation market is the drastically ascending growth in the IoT-based architecture in the irrigation systems domain. The MRFR analysis has concluded that 35% of the world’s populace is suffering from water scarcity as approximately 70% of water is wasted during irrigation carried out using conventional processes. An IoT-based smart irrigation system enables farmers to minimize water wastage and improve crop growth with the integration of numerous sensors, controllers, and meters to keep tabs on the soil moisture levels. Also, the cost-effectiveness due to the use of smart irrigation systems leads to the optimum use of resources.
Furthermore, the adoption of smart irrigation methods eliminates several glitches with the help of controllers that aid in the analysis and detection of problems using real-time monitoring of the irrigation systems. This also helps farmers take corrective actions immediately, leading to shorter response time. Hence, the replacement of the traditional methods of irrigation with smart irrigation is projected to push the market to a great extent.
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Major Key Players
• Rain Bird Corporation (U.S.),
• Libelium (Spain),
• HydroPoint (U.S.),
• The Toro Company (U.S.),
• AquaSpy (U.S.),
• Aquacell Systems (Australia),
• Baseline Inc. (U.S.),
• Hortau (U.S.),
• Hunter Industries (U.S.)
According to MRFR, The global Smart irrigation market is expected to grow at USD ~1561 Million by 2022, at ~17% of CAGR between 2016 and 2022.
April 2019: The World Bank has sanctioned a USD 125 million credit to Shri Lanka to improve the productivity of agriculture and resilience of more than 470,000 small farmers in six provinces prevalent in the dry zone. The project is aimed at helping smallholder farmers gain larger access to irrigation and management of water resources through the adoption of smart irrigation and agriculture technologies.
Leadership inclinations in the market are likely to strengthen the development graph of the existing market for smart irrigation. Changes seen in strategy execution and creation are projected to change the pace of expansion of the market. The process of plan formulation, while taking absolute deviations into account, has become easier. Growth tactics in the market have made the emergence of new market players possible. The market is well invigorated to face different external and internal challenges and comfortably satiate the proliferating demand. Many market vendors are taking steps to sustain their market shares, along with strategies to capture a larger share.
The segmentation of the smart irrigation market has been done on the basis of component, application, type, and region. Based on component, the smart irrigation market is segmented into smart detection system/network elements, water/flow meter, and sensors. On the basis of type, the smart irrigation market is bifurcated into soil moisture-based irrigation systems and weather-based (et) irrigation systems. Segmentation of the smart irrigation market based on application consists of non-agriculture and agriculture.
The smart irrigation market is geographically segmented into Asia Pacific, North America, South America, Europe, and Rest of the World. Among these, North America is projected to spearhead the smart irrigation market during the forecast period. Attributable factors include rising awareness towards water conservation and various initiatives taken up by the governments to curtail such wastage in the region. Favorable government initiatives towards smart irrigation are pushing the smart irrigation market in this region. Japan, China, India, as well as, Korea are expected to showcase a rapid spike in demand for smart irrigation in Asia Pacific. The Asia Pacific region is projected to progress as the most rapidly rising region in the smart irrigation market.
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• Technology developers
• Irrigation consultants
• Sensor manufacturers
• Irrigation contractors
• Water purveyors
• Irrigation designers
• Government Organizations
• Research/Consultancy firms
• Water Management Committee
• End users
List of Tables
Table 1 Global Smart Irrigation Market, by Region, 2018—2023
Table 2 North America: Smart Irrigation Market, by Country, 2018—2023
Table 3 Europe: Smart Irrigation market, by Country, 2018—2023
Table 4 Asia-Pacific: Smart Irrigation market, by Country, 2018—2023
Table 7 The Middle East & Africa: Smart Irrigation market, by Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Smart Irrigation Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Smart Irrigation Market
FIGURE 4 Value Chain of Global Smart Irrigation Market
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Name: Abhishek Sawant
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