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Smart Irrigation Market (Component - Sensors, and Controllers; System Type - Weather-based, and Sensor-based; End-user - Commercial Properties, Agri Professionals, Education & Play Grounds, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : August, 2020

  • Rep Id : ICT1461

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the smart irrigation market provides an in-depth analysis of segments and sub-segments in the global as well as regional smart irrigation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart irrigation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global smart irrigation market. According to the report, the global smart irrigation market is projected to grow at a CAGR of 13.4% over the forecast period of 2020-2026.

 

Market Insight

Smart irrigation systems are advanced irrigation systems that tailor watering schedules to meet specific landscape requirements. By offering a variety of advantages, smart irrigation systems are being highly adopted in several parts of the world. The main working of smart irrigation systems is to improve the efficiency of water usage among the depleting levels of water. Although several firms and whole industries have collapsed in the wake of coronavirus, the agriculture industry is holding firm. The traditional agriculture is actually turning to agtech faster than ever before to adapt to resource issues. Even though the supply chain has been facing disruptions, the ongoing domestic demand for food will remain and food and agribusiness sectors are increasing their capabilities to respond to the crisis. Moreover, Agritech startups will also be further strengthened as several countries seek to increase domestic production and limit imports. All these aforementioned factors will have a positive impact on the smart irrigation market over the forecast years.

 

Further, the key factors such as increasing concern about water along with expanding the need for minimizing excess water use in the agriculture sector are contributing to the growth of the global smart irrigation market during the forecast period. Besides this, increasing the adoption rate of smart irrigation systems and solutions in schoolyards, government parks, and community botanical gardens is also boosting the market growth. Additionally, IoT based smart irrigation System helps the farmer to avoid the wastage of water resources is another factor boosting the growth of the smart irrigation market in the coming year. However, high installment cost is expected to hamper the growth of this market in the forecast period. Going further, new product launches by the smart irrigation players in terms of controllers, sensors, and water flow meters creates growth opportunities for the market.

 

As per the geographic trends, the North American region is expected to have the largest revenue in the global smart irrigation market as North American countries such as the U.S and Canada are the front-runners in the high adoption of advanced technologies. Farmers in the North America regions are increasingly adopting IoT related devices such as sensors, microcontrollers, and water flow meters. Additionally, the presence of leading players such as The Toro Company, HydroPoint, Rachio, and many others is likely to have a positive impact on the growth of the North America smart irrigation market. These players are launching innovative products and services. On the other hand, Europe has the second-largest share in the total addressable market. However, the Asia Pacific region is expected to register a healthy CAGR in the forecast period. Asian countries such as China, India, Japan, and South Korea are inclined towards the adoption of a smart irrigation system and solutions. Moreover, increasing concern regarding water is one of the major factors responsible for the growth of the Asia Pacific smart irrigation market.

 

Segment Covered

The report on the global smart irrigation market covers segments such as component, system type, and end-user. On the basis of component, the sub-markets include sensors, and controllers. On the basis of system type, the sub-markets include weather-based, and sensor-based. On the basis of end-user, the sub-markets include commercial properties, agri professionals, education & play grounds, and other end-users.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Banyan Wate, Weathersmatic, Galocn, Stevens Water, Netafim, Hunter Industries, Rain Bird Corporation, Toro Company, and other companies.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart irrigation market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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