The smart irrigation market is estimated to be worth USD 825.0 million in 2018 and is projected to reach USD 1,755.1 million by 2023, at a CAGR of 16.30% from 2018 to 2023. The major drivers for the smart irrigation market include initiatives undertaken by various governments to promote water conservation, surge in farming operating costs, and growing emphasis on increasing farm productivity and profits using smart irrigation solutions. However, the implementation of smart irrigation technologies in fragmented land and the lack of awareness related to smart irrigation among farmers restrain the smart irrigation market growth. Changing weather patterns due to increasing global warming have impelled the adoption of smart irrigation to enhance farm productivity and crop yield.

The smart irrigation market in APAC is expected to grow at the highest CAGR from 2018 to 2023. The increasing adoption of smart irrigation technologies such as weather-based controllers and sensor-based controllers by farmers in APAC is expected to propel the growth of the smart irrigation market during the forecast period. The adoption rate of smart irrigation techniques is expected to grow at a high rate in APAC as this region comprises emerging countries such as India and China, and other Southeast Asian countries. Rapidly increasing population, increasing importance of water conservation, and government support through subsidies are the factors driving the adoption of smart irrigation in APAC.

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The smart irrigation market for sensor-based systems is expected to grow at a higher CAGR during the forecast period. This growth can be attributed to the increasing adoption of sensor-based systems in agricultural irrigation to save water and increase crop yield. They are more effective than weather-based systems as they can respond to specific zone irrigation requirements based on actual soil moisture levels.
The smart irrigation market for the agricultural application is expected to grow at a higher CAGR during the forecast period. Agriculture and related industries are projected to emerge as the fast-growing application segments. Agriculturists and farmers, in particular, are opting for smart irrigation technologies and playing a key role in optimizing water usage.

The market for sensors is expected to grow at the highest CAGR during the forecast period. Factors driving the growth of the sensor market include the gradual shift in climatic conditions, increasing stringency of environmental regulations, and growing need for improving crop productivity. The increasing adoption of soil moisture sensors, rain sensors, and fertigation sensors for irrigation scheduling at agriculture farms is expected to fuel the growth of this market during the forecast period.

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The report profiles key players such as The Toro Company (US), Netafim (Israel), Hunter Industries (US), Rain Bird Corporation (US), HydroPoint (US), Rachio (US), Banyan Water (US), Rain Machine (US), ET Water (US), Galcon (Israel), Weathermatic (US), Blossom (US), Skydrop (US), Delta-T Devices (UK), Calsense (US), AquaSpy (US), Soil Scout (Finland), Caipos (Austria), Acclima (US), and Rain Machine (US).