Smart Irrigation Market?Forecast till 2027
According to Market Research Future Statistics, the global smart irrigation market is estimated to register a CAGR of over 14.7% to reach USD 2,641.8 Million by the end of 2027. Smart irrigation systems are in demand nowadays because they track conditions of weather, soil, and water with the help of controllers and sensors. They are proven to be the most reliable cost-efficient and data-driven solution to society. Furthermore, the increasing popularity of modern agriculture is expected to fuel the global market growth during the review period.
The global smart irrigation market is anticipated to register a notable market expansion owing to the increasing demand for efficient irrigation systems and the growing number of smart cities worldwide. Also, the rising initiatives by the government to improve water conservation is expected to propel market growth in the future. However, the challenges in the global smart irrigation market such as lack of standardization of irrigation systems, high cost of electronics due to emergence of sensors and controllers, and subsidized water due to increasing population may hamper the market growth in the projected timeframe. Additionally, the implementation of smart irrigation in pieces of land, adequate technical skills among farmers, and the high initial cost are expected to restrain the market growth.
The worldwide smart irrigation market has been partitioned into components, application, system type, and region.
The component segment divides the smart irrigation market into controllers, sensors, water flow meters, and others. Based on system type, the global smart irrigation market has been bifurcated into weather-based controller systems and sensor-based controller systems. In terms of agriculture, the market has been classified into agricultural and non-agricultural.
The worldwide smart irrigation market has been considered across Asia-Pacific, North America, Europe, and the Rest of the World. North America represented the biggest market portion of 40.9% in 2019. The modern area in Mexico and the US are progressively embracing IoT gadgets to computerize their cycles. The US is driving the market, though Canada is relied upon to observe the most noteworthy development rate in the approaching future.
The smart irrigation market in Europe is becoming quickly because of the variables, for example, the rise of IoT and union of various control functionalities and the expanding government drives to advance water preservation.
Smart irrigation is adopted rapidly in Asia-Pacific dramatically as the farming area in the region is blasting, and the sky is the limit from there. Many developing nations in the geography are settling on smart irrigation systems for dependability and expanding the effectiveness of the market.
The prominent players of the global smart irrigation market are The Toro Company (US), HydroPoint (US), ET Water (US), Rachio (US), Rain Bird Corporation (US), Banyan Water (US), Rain Machine (US), Netafim (Israel), Hunter Industries (US), Galcon(US), Weathermatic (US), Skydrop (US), Blossom (Scotts Company) (US), and Delta-T Devices (UK).
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