Market Highlights

The global smart irrigation market can exhibit 18.6% CAGR from 2018 to 2023 due to proliferation of IoT based systems in agriculture. Rise in precision farming which provides farmers with ample data and control over other metrics for rapid production of crops. Real-time monitoring of crops which can assist farmers in taking preventive measures and improve crop growth can drive the global market growth.

Nearly 35% of the global populace suffers from effective water management. The shift towards modern methods from conventional ones will work in favor of the market. The use of soil sensors capable of attaining precise data from changing climatic conditions will be a pivotal driving force of the market.

Automation is the key to handling laborious work with ease while getting time to focus on core responsibilities. Smart irrigation makes use of internet of things (IoT) for conservation and management of water. Need for efficient farming methods to ensure successful yields can drive the demand for smart irrigation. The report by Market Research Future (MRFR) estimates the global smart irrigation market to touch USD 1.87 billion by 2023.

Applications in residential areas to maintain lawns and turfs in golf courses will require smart irrigation systems. Initiatives by governments to minimize water wastage and keep water bills at a minimum are expected to drive market growth.

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Major Key players

Galocn (Israel)
Netafim (Israel)
Stevens Water Monitoring System (US)
Hunter industries (US)
Rachio (US)
Banyan Water (US)
Rain Bird Corporation (US)
Weathersmatic (US)
The Toro Company (US)
Segmentation:

The global smart irrigation market is segmented by component, application, vertical, and type.

By component, it is segmented into sensors, controllers, and others. The controller’s segment is predicted to generate maximum revenues for the global smart irrigation market owing to the use of these systems to gain accurate information on soil and climatic conditions. On the other hand, sensors can accrue large revenues due to being programmed to operate according to appropriate conditions.

By application, it is segmented into soil management, ground water management, and water resource management. Among them, the water resource management segment is touted to be the largest segment till 2023.

By vertical, it is segmented into agriculture and non-agriculture. The latter is projected to gain a large market share due to the use of water for maintenance of lawns, turfs, and pitches. Importance of smart irrigation systems and need for efficient water management systems which maintain turfs and conserve water levels can drive the segment growth. Need for smart systems in maintaining schoolyards, parks, and gardens can offer numerous opportunities to the market.

By type, it is segmented into sensor-based controller system and weather controller system. The weather controller system segment is expected to gain a large market share owing to adoption by farmers. Emphasis on productivity and efficiency is the major growth driver of the segment.

Regional Analysis:

North America is expected to be welcoming for the smart irrigation market due to abundance of land and access to technology. Less power outages, adoption of latest systems by farmers, and government schemes to encourage adoption can bolster regional demand of these systems. The need to curtail wastage of resources is likely to bode well for the market.

The Asia Pacific (APAC) region can witness a spike in smart irrigation systems due to immense demand from India, China, and Japan. Concerns of water shortage due to growing population coupled with adoption of technologies such as meters, sensors, and controllers will augur well for the regional market.

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