Market Highlights:
Water conservation has become a global initiative in the past decade. Every industry in the economic sector has been contributing towards this cause. As this objective gets acclaimed on a global level it also creates platforms for the smaller markets to build themselves. The growth that the global market for smart irrigation has observed can be distinguished as an outcome of this cause. During the forecast period of 2017-2022, this market is expected to soar above expectations and achieve enormous expansion.
Smart irrigation is an innovative technique to keep the water usage in control without hampering the natural growth of crops. In this method, landscape irrigation devices and controllers are utilized. These tools provide real-time information that is crucial for scheduling the irrigation routine. Smart irrigation basically aims at utilizing water in adequate amounts without wasting it.
Observing the current condition of the world’s ecosystem, one thing is pretty clear – the world needs to start conserving water. And owing to this, it can be confidently asserted that the global market for smart irrigation will grow by leaps and bounds in the forthcoming projection period. This market is all set to earn a turnover of about 1561 million by the end of the forecast period. The estimated CAGR for this time period will be 17%.
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Major Key Players
- Rain Bird Corporation (U.S.),
- Libelium (Spain),
- HydroPoint (U.S.),
- The Toro Company (U.S.),
- AquaSpy (U.S.),
- Aquacell Systems (Australia),
- Baseline Inc. (U.S.),
- Hortau (U.S.),
- Hunter Industries (U.S.)
According to MRFR, The global Smart irrigation market is expected to grow at USD ~1561 Million by 2022, at ~17% of CAGR between 2016 and 2022.
Competitive Analysis
The leadership inclinations in the market are strengthening the level of development that can be achieved in the existing market scenario. The changes seen in terms of strategy execution and creation are altering the expansion pace of the market. The plan formulation process in the market has become extensively easier in which deviations are well accounted for; this approach raises the comprehensive success of these plans in the market. The evolution patterns are revised in tandem to the customer likings to realize the highest growth, and in the long run, viability. The framework for growth tactics also has stimulated the market for possible new entrants. The market is also well fortified to meet the challenges and keep up with the active growth trends effectively. The market contenders are making considerable adjustments to minimize the incidence of competitive shortcomings.
Market Segmentation
The worldwide market for smart irrigation has been segmented into three main parts. Each of these has a sub-division respectively and they have been mentioned below:
Application – Non-agriculture and agriculture. On the basis of application, the non-agriculture market takes the lead and holds the largest market share.
By components – Smart detection system/network elements, sensors and water/flow meter. On account of components, sensors govern the market and account for the largest share of the market. The main reason for this is that sensors help in improving productivity and viability of the soil as well the crop.
By types – Soil moisture-based irrigation systems and weather-based irrigation systems. Weather-based irrigation systems have an edge over the others.
Regional Analysis:
The smart irrigation market includes regions such as the Asia Pacific, Americas, Europe and Rest of the World in its regional analysis. The North America region is anticipated to control in the market in the forecast period due to the growing worry surrounding water conservation and the need to curtail the wastage of resources by the governments in the North American region. The government initiatives towards smart irrigation in North America region is motivating the smart irrigation market in this region. The Asia Pacific countries like Japan, China, India, and Korea are anticipated to show a rapid spike in demand for smart irrigation. The Asia Pacific region is anticipated to progress as the most rapidly rising region in the smart irrigation market.
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Intended Audience:
- Technology developers
- Irrigation consultants
- Sensor manufacturers
- Irrigation contractors
- Water purveyors
- Irrigation designers
- Government Organizations
- Research/Consultancy firms
- Water Management Committee
- End users
List of Tables
Table 1 Global Smart Irrigation Market, by Region, 2018—2023
Table 2 North America: Smart Irrigation Market, by Country, 2018—2023
Table 3 Europe: Smart Irrigation market, by Country, 2018—2023
Table 4 Asia-Pacific: Smart Irrigation market, by Country, 2018—2023
Table 7 The Middle East & Africa: Smart Irrigation market, by Country, 2018–2023
Continued……
LIST OF FIGURES
FIGURE 1 Global Smart Irrigation Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Smart Irrigation Market
FIGURE 4 Value Chain of Global Smart Irrigation Market
Continued……
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