Smart Irrigation Market Set To Show a Considerable Growth By 2023 | Effects of COVID-19

Market Highlights

The global smart irrigation market is increasing owing to the growth of IoT-based architecture in irrigation system. Additionally, the IoT based smart irrigation helps farmers to avoid wastage of water resources and enhances the crop growth with the incorporation of various sensors, controllers, and meters to determine the soil moisture level and optimal water utilization for irrigation. Moreover, smart irrigation helps in decreasing the cost of irrigation with ideal utilization of resources.

The glaring scarcity of water globally is pushing users to find new ways to adopt better methods for water usage and consumption. Market reports linked to the semiconductors and electronics industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is set to attain revenues worth USD 1561 Million by 2022 while developing at 17% CAGR in the forecast period.

In addition to this, the adoption of smart irrigation system can remove various glitches by deploying controllers that enables users to analyze and detect the problem with real-time monitoring of irrigation system which supports the farmers to take curative actions. Ad per the MRFR analysis, 35% of the globe’s population is suffering from water scarcity as 70% of the water is misused in irrigation process in conventional irrigation methods. In this regard, the replacement of outdated irrigation methods with modern features of smart irrigation is projected to drive the growth of this market during the assessment period.

The deployment of IoT-based architecture and strict government policies for the water conservation are some of the major factors that increases the demand of smart irrigation market. On the other hand, high installation cost and the major lack of awareness and technical knowledge amongst farmers are some of the factors that may hamper this market over the forecast period.

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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.

Segmentation:

The global market smart irrigation systems is segmented on the basis of component, type, application, and vertical.

Based on the component, the smart irrigation market is segmented into controllers, sensors, and others (water flow meter and fertilizer meter).

Sensors are sub-segmented into soil moisture sensor, pressure sensor, rain sensor, temperature sensor, dendrometer sensor, and others (freeze sensors, flow sensors, and wind sensors).

By application, the market is segmented into soil management, water resource management, and ground water management.

Based on the type, the smart irrigation market is bifurcated into sensor-based controller system and weather-based controller system. The weather-based controller system is the system which deploys weather data to determine the amount of water evaporated from the field. The weather-based controller system automatically adjusts the timeframe of irrigation depending upon the climatic conditions.

Furthermore, based on the vertical, the smart irrigation market is bifurcated into agriculture and non-agriculture. The agriculture segment has been sub-segmented into open field and greenhouse while, the non-agriculture segment is sub-segmented into turf & landscape, residential, golf course, and others.

Competitive Analysis

The notable market players functioning in the global market as identified by MRFR are Rain Bird Corporation(US), The Toro Company(US), Hunter industries (US), Netafim(Israrel), Galocn(Israrel), Stevens Water Monitoring System(US), Rachio(US), Banyan Water(US), Weathersmatic(US), among others.

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