March 27, 2020

At 18.9% CAGR, Smart Irrigation Market Size Poised to Touch USD 1,894.6 million by 2025

According to BlueWeave Consulting, the global Smart Irrigation market is anticipated to worth USD 1,894.6 million by 2025, with a CAGR of 18.9% during 2019-2025. The Global Smart Irrigation Market is expected to grow with a significant rate during the forecast period, owing to the emergence of IoT and convergence of multiple control functionalities.

Increasing the world population is resulting in a shortage of food & water, which has boosted the adoption of efficient replacement systems to preserve natural water reserves, including smart irrigation systems. Smart irrigation technology is highly profitable for farming operations. Factors such as increasing the use of upgraded technologies such as IoT devices and cloud computing in the agriculture field are driving the potential growth of the smart irrigation market. The Internet of Things (IoT) technology and solutions are widely to attain improved operational efficiency, maximized yield, and minimum wastage by using real-time field data collection and data analysis.

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Key players in the global smart irrigation market include The Toro Company, Netafim, Hunter Industries, Rain Bird Corporation, HydroPoint, Rachio, Banyan Water, Rain Machine, ET Water, Galcon, Weathermatic, Blossom, Skydrop, Delta-T Devices, Calsense, AquaSpy, Soil Scout, Caipos, Acclima, and Rain Machine. Acquisitions, mergers, and new product developments are key strategies used by key participants to improve their competitiveness and to cater to customer bases in the global market.

Smart irrigation controller systems will remain predominantly high in the expansion of the market over the forecast period. It is owing to the increasing adoption of controller devices for automatic irrigation scheduling in applications such as agriculture, lawns and gardens in residential and commercial property, and landscaping. It uses weather and sensor data to adjust irrigation schedules to any environmental changes automatically. Moreover, the effectiveness of smart irrigation solutions continues to remain relies on the efficiency of controller systems. However, the smart irrigation controller systems, soil moisture sensors, and water management platform are also expected to hold leading component-type. In addition, it has additional features, such as inbuilt programs to maintain watering frequencies for different types of plants, rain delay settings, and remote operation and input terminals for sensors such as rain/freeze and soil moisture.

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North America is expected to hold the largest share of the smart irrigation market during the forecast period 2019-2025. Developing countries such as the US and Canada in the Americas are the early adopters of smart irrigation technologies, and so is the factor of the high market share of this region in the smart irrigation market. The region has the highest number of smart irrigation systems installed at farms, residential landscapes, and golf courses. However, the Asia-Pacific region is expected to register the fastest growth over the forecast period. While nascent integration of technologies in farming practice will act as an impediment, but progressive economies such as India, South Korea, and China are showcasing great leaps towards the steadfast adoption of smart irrigation. The APAC region is growing as the leading players in the global smart irrigation market are focussing on tapping the demands of this region.

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