Market Size – USD 650 million in 2018, Market Growth - CAGR of 17.1%, Market Trends –Rise in Awareness about conservation of water and an increase in investment for R&D.
According to the current analysis of Reports and Data, the global Smart Irrigation Market is estimated to grow at a CAGR of 17.1% and reach USD 2,687.7 million in 2026. These systems monitor weather, soil conditions, evaporation and plant water use to automatically adjust the watering schedule to actual conditions of the site. The market is experiencing a growth trajectory primarily due to demand from farmers and agriculturalists who wish to automate the process of agriculture so that the water usage is reduced. The emergence of large institutional farms and the popularity of irrigating landscaped gardens are some other significant factors driving the growth of this industry. Traditional watering methods can waste as much as 50% of the water used due to inefficiencies in irrigation, evaporation, and overwatering.
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The major key players in the industry are Netafim Ltd. (Israel), Calsense (U.S.), The Toro Company (U.S.), Rain Bird Corporation (U.S.), Hunter Industries (U.S.), Hydropoint Data System, Inc. (U.S.), Galcon Ltd. (Israel), Rachio Inc. (U.S.), and Weathermatic (U.S.). Netafim Limited is an Israel-based company that manufactures irrigation equipment and provides digital farming services.
Further key findings from the report suggest
- Sensors accounted for 25.1% of the market in 2019. There are many types of sensors ranging from soil moisture sensors, rain/freeze sensors, wind sensors, soil ph sensors, amongst others. These sensors sense the change in the surrounding variables that they are programmed for, and adjust the irrigation systems, accordingly, thereby preventing.
- On-site weather measurement controllers are a class of precision weather stations equipped with sensors that measure air temperature, relative humidity, solar radiation, rainfall, and wind speed.
- Soil Moisture Controller helps the farmers to monitor the moisture content of the soil and expected to have a CAGR of 17% in 2026. These sensors are buried in the root zone of turfs, trees or shrubs, and accurately determine the moisture level in the soil after which the reading is transmitted to the controller.
- Europe is projected to grow significantly in the forecast period. Increasing government support and investment is likely to boost the market growth. As part of the European Union (EU), the EU funded company named Figaro developed a smart agriculture DSS (Decision Supporting System) which allows the farmers to benefit from innovative development in irrigation technology.
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For the purpose of this report, Reports and Data has segmented the Smart irrigation Market on the basis of type, component, application and region:
Type (Revenue, USD Million; 2016–2026)
- Climate Based Controller System
- Soil Moisture Controller System
Component (Revenue, USD Million; 2016–2026)
- Water Flow Meters
- Other Components
Application (Revenue, USD Million; 2016–2026)
- Agricultural fields
- Landscape and Turf Irrigation
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
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The research provides answers to the following key questions:
- What will be the market size and growth rate of the Smart Irrigation market for the forecast period 2016 -2026 across different regions?
- What are the key driving forces expected to shape the future of the industry worldwide?
- What strategies are the prominent vendors adapting to stay ahead of their competitors?
- Which major trends are impacting the development of the Smart Irrigation Market Worldwide?
- Which factors can hinder, challenge or even restrict the expansion of the Smart Irrigation market worldwide?
- What are the opportunities or future prospect for the business owners operating in the market for the forecast period, 2016 - 2026?
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