Global Market Revenue for Smart Irrigation System is Expected to Grow to USD 3 bn by 2028

Wednesday 15 July 2020, Amsterdam

The intelligent irrigation system monitors the weather, soil and water conditions with the help of controllers, sensors and meters. They are considered to be efficient, data-driven and cost-effective automated machines. Due to the rise of the Internet of Things-based architecture in irrigation systems, the global market for smart irrigation systems has been growing. These systems help farmers avoid wasting water resources through ancient irrigation techniques and methods to improve crop growth. Through the integration of various controllers, sensors and meters, it is possible to closely monitor and cater to the growth of crops, thereby determining the soil moisture and the best water utilization rate for irrigation. Water management is one of the reasons to promote market development.

One of the main drivers of this market includes IoT-based architectures and the accompanying control functions. In addition, the knowledge of water management is also a factor that promotes the development of this market. The growth of smart cities and the need to adapt this technology has further promoted the adoption of smart irrigation controllers.

The smart irrigation market has been subdivided according to applications, system types and regions. Based on the components, the smart irrigation market has been subdivided into controllers, sensors, water flow meters, etc. By system type, the smart irrigation market is divided into weather-based and sensor-based. Based on this region, the smart irrigation market has been subdivided into North America, Europe, Asia Pacific and RoW. Through applications, the market has been subdivided into smart greenhouses, open fields, residences, golf courses, and lawns and landscapes.

By 2020, the global market revenue of smart irrigation systems is expected to reach 1 billion U.S. dollars, and it is expected to grow to 3 billion U.S. dollars by 2028, with a compound annual growth rate of approximately 15% during the forecast period from 2020 to 2028. Governments in several countries have promoted joint water bills, which is the main driving force of the market. In addition, the use of smart solutions to solve agricultural problems, thereby increasing the productivity of crops, is another factor affecting this market. In the smart irrigation market, since the controller is used for various agricultural activities, it is expected to occupy a large market share.In addition, compared to sensor-based systems, weather-based systems are expected to generate more revenue. This can be attributed to the increasing focus on farm efficiency and productivity. It is estimated that North America has the largest market size in the global market for smart irrigation systems. The Asia-Pacific region is expected to become the fastest growing market segment in the world.

The main players in this market, such as Toro, Banyan Water, Rain Bird, Stevens Monitoring Systems, Lazio, Weathersmatic, etc., are all established in North America. Because of this factor, the North American market currently dominates. The existence of people who are willing to adopt this technology and the investment in research and development of the United States and Canada have further promoted the development of this market. Due to widespread awareness of water management and technological progress, the Asia-Pacific region is expected to experience the fastest compound annual growth rate.

Scope:
The report "Global Smart Irrigation - Market and Technology Forecast to 2028" is segmented based on application, system type, and region. The study period is 2018- 2028 and the forecast period is from 2020-2028.

Reasons to Buy:

• The key trends which would impact the market during the forecast period, 2020-2028 have been discussed in this report. This could help the new entrants gain perspective about the changing market dynamics.
• Potential players of this market can use this report to study the impacts of the drivers, restraints, and challenges on the global market for Smart Irrigation.
• The new players within the market will get a comprehensive view of the market competition.
• The upcoming technologies in this field and their effects on this sector have been discussed in detail within the report. This segment could help existing market players with understanding new technologies before installing them.
• The existing competitors within this market could gain context concerning regional markets that could help them discover new opportunities.
• The sales team could gain a perspective of the market and create near term as well as long term sales goals with regards to the same.
• The investment bankers focused on this sector could use the report to identify the key sectors of this market.