Global Smart Irrigation Market Anticipated to Reach $X.XX Billion in 2026, BIS Research Report


Posted April 1, 2022 by harshbisR-0

According to Bis Research, The global smart irrigation market was estimated to be at $1.26 billion in 2020, which is expected to grow with a CAGR of 13.69% and reach $2.75 billion by 2026.

 
According to Bis Research, The global smart irrigation market was estimated to be at $1.26 billion in 2020, which is expected to grow with a CAGR of 13.69% and reach $2.75 billion by 2026. The growth in the global smart irrigation market is expected to be driven by increasing demand for sustainability and increased mechanization and automation in agriculture industry.

The smart irrigation process helps in automating the irrigation procedure, reducing the water use, which ultimately reduces the irrigation cost, gives a better understanding of the soil and crop moisture content, provides timely notifications of the abnormalities in soil, and offers good long-term health of the landscape. This automation of irrigation procedures can be supported by building software solutions applicable for agricultural purposes. Through software solutions in the field, agricultural activities can be better monitored and managed. Irrigation software such as Spruce, Rubbicon’s FarmConnect, and Hydrawise also enables controlling of field activities remotely. It can be strategically planned how and when the irrigation has to be undertaken, which would lead to more transparency in the field and increased agricultural and water efficiency.

Global Smart Irrigation Market (by Product):

The product section of the global smart irrigation market is divided into components, systems, and business models. The components deployed in smart irrigation systems include controller, sensor, water flow meter, and others. The two basic systems used in smart irrigation are weather and sensor-based controller systems.

Global Smart Irrigation Market (by Application):

Irrigation is the process of supplying adequate amounts of water primarily to agricultural land. The applications of irrigation have increased with time which has led to increased use of water in irrigation. The application section of the global smart irrigation market is divided into agricultural and non-agricultural applications.

Global Smart Irrigation Market (by Region):

One of the primary drivers for the high growth rate of the global smart irrigation market is the high technological advancement in various regions such as North America, Asia-Pacific, and Europe, along with high emphasis from the governing and regulatory bodies on modern equipment.

Impact of COVID-19 on the Global Smart Irrigation Market:

Every industry has suffered from the destructive effects of COVID-19. The irrigation sector is also affected, as the pandemic has complex impacts throughout the world. The global smart irrigation market supports the world's vital production practices and has the keys to shifting to greener irrigation practices. Irrigation companies worldwide have continued to function regardless of the challenging situations. Nevertheless, there have been multiple jolts affecting the delivery of the services by the smart irrigation industry, including financial constraints, disruption of supply chains due to travel restrictions, and shortage of labor. Globally, construction and manufacturing production have been put on hold and maintenance delayed, which has impacted the market's growth. For instance, in India, the pre-monsoon tasks associated with irrigation, such as dam assessment and maintenance, have been suspended. Countries such as Mali and Indonesia have prioritized irrigation and food production during the pandemic to guarantee a constant food supply. The Indonesian government promotes irrigation-based food programs through community contracting to revitalize low-land areas for crops and cash inflows.

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Market Drivers and Challenges in the Global Smart Irrigation Market:

A major factor driving the global smart irrigation market is the emergence of smart farming and smart irrigation technologies, and it is expected that the demand for smart irrigation models is going to increase. Therefore, the decreasing cost of components acts as a driver for the adoption of smart irrigation tools and techniques in the market.

One of the major challenges in the growth and development of the global smart irrigation market is that the smart agriculture equipment carries an excessive cost, which prevents small- and medium-scale farmers from purchasing the same. As a result, the implementation of capital-intensive farm equipment is a difficult proposition for small and marginal farmers. Furthermore, in developing countries, the unwillingness of commercial banks to finance farm equipment is also another restraint in the growth of farm mechanization.

Key Market Players and Competition Synopsis:

The companies profiled in the report have been selected post-in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the smart irrigation market.

Some key players operating in the global smart irrigation market are Banyan Water, Inc., Caipos GmbH, Calsense, ET Water Systems, Inc., Galcon, Hunter Industries, HydroPoint, Jain Irrigation, Inc., Netafim, Orbit Irrigation Products LLC, Rachio inc., and Rain Bird Corporation.

Key Questions Answered by This Report:

 What is the estimated global smart irrigation market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
 What is the competitive strength of key players in the global smart irrigation market based on an analysis of their recent developments, product offerings, and regional presence?
 What type of players are operating in the market ecosystem of smart irrigation, and what is their significance in the global market?
 What kinds of new strategies are being adopted by existing market players to expand their market position in the industry?
 What are the key trends, market drivers, and opportunities in the market pertaining to smart irrigation?
 What are the major restraints inhibiting the growth of the global smart irrigation market?
 How is the competitive benchmarking of the key smart irrigation companies based on the analysis of their market coverage and market potential?
 How much revenue is each segment expected to record during the forecast period, along with the growth percentage? The segments are as follows:
o Product, including component (controller, sensor, water flow meter, and others), system (weather-based controller system and sensor-based controller system), and business model (irrigation-as-a-product and irrigation-as-a-service)
o Application, including agricultural and non-agricultural. Agricultural applications include open field and plant factory, and non-agricultural applications include residential, golf course and sports ground and turf and landscape
o Region, including North America, the U.K., Europe, Asia-Pacific, China, Middle East and Africa, and South America.

About BIS Research:

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we don’t simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

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Issued By Harsh Singla
Country United States
Categories Agriculture , Research , Technology
Tags Smart Irrigation Market , Smart Irrigation Industry , Smart irrigation report , Global Smart Irrigation Market , market report , market research
Last Updated April 1, 2022