Smart Irrigation Market Share, Key Findings, Company Profiles, Development Strategy, Emerging Technologies, Trends and Forecast by 2022
(firmenpresse) - Market Highlights
The global smart irrigation market is estimated to ascend at a reasonable pace, witnessing an impressive 18.6% CAGR during the forecast period, as stated in the latest analysis by Market Research Future (MRFR). The market is also expected to reach a market valuation of USD 1.87 billion by the end of 2023. Smart irrigation technology aids in the monitoring of weather, water and soil conditions through the automation of irrigation systems with the help of sensors, controllers, and meters. These systems are efficient, cost-effective, and data-driven.
The global market for smart irrigation is rapidly ascending owing to the proliferation of IoT-based architecture in irrigation systems. The IoT-based smart irrigation aids farmers in the avoidance of wastage of resources and improves the crop growth through determination of soil moisture level and optimum water utilization for irrigation. Moreover, smart irrigation aids in cost minimization for irrigation with optimum utilization of resources.
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.
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.
Segmentation:
The smart irrigation market size is segmented by type, vertical, component, application, and region to gain a better understanding of the landscape. By type, the market is segmented into sensor-based controller system and weather-based controller system. The weather-based controller system uses weather-based data to determine the amount of water evaporated from the field. It automatically adjusts the duration of irrigation, depending on the present climatic conditions.
By component, the global smart irrigation market is segmented into water flow meter, sensors, controllers, and fertilizer meter. The sensors segment is further sub-segmented into temperature sensor, moisture sensor, rain sensor, dendrometer sensor, freeze sensors, flow sensors, and wind sensors.
By application, the smart irrigation market is segmented into residential AC powered controllers, Wi-Fi controllers, hybrid controllers, battery controllers, and electric controllers. By vertical, the market for smart irrigation is segmented into agriculture and non-agriculture. The agriculture segment is further analyzed for the sub-segments of open field and greenhouse. The non-agriculture segment is segmented into turf & landscape, residential, and golf course.
Detailed 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.
Key Players
Some notable players in the smart irrigation market include The Toro Company(US), Rain Bird Corporation(US), Hunter industries (US), Netafim(Israrel), Stevens Water Monitoring System(US), Galocn (Israrel), Rachio (US), Weathersmatic (US), Banyan Water(US).
Industry Update
Sept 2019: Huddle Expo 2019 displayed a range of products that were nature-friendly and socially impactful, in Kerala. One of the products was SmartGro, which is smart irrigation system that drips water according to the nature of the soil and the crop. This is made of smart micro-organism removing bottles made from Nano-fibre membrane.
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Datum: 24.04.2020 - 08:35 Uhr
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