Market Size – USD 650 million in 2018, Market Growth – CAGR of 17.1%, Market Trends –Rise in Awareness about conservation of water and an increase in investment for R&D.
The increase in the need for conservation of water along with the benefits of smart irrigation over the traditional techniques is expected to fuel market growth.
The global smart irrigation market is estimated to grow at a CAGR of 17.1% and reach USD 2,687.7 million in 2026. These systems monitor weather, soil conditions, evaporation and plant water use to automatically adjust the watering schedule to actual conditions of the site. The market is experiencing a growth trajectory primarily due to demand from farmers and agriculturalists who wish to automate the process of agriculture so that the water usage is reduced. The emergence of large institutional farms and the popularity of irrigating landscaped gardens are some other significant factors driving the growth of this industry
Europe accounted for 33% of the market in 2019 and is projected to grow significantly in the forecast period. As the water quantity and scarcity concerns have arisen in a tragic way, the usage of efficient water management is now becoming a momentous topic in Europe. According to the EU Common Agricultural Policy (CAP), the member states are required to achieve the full cost of recovery of water services via water pricing, considering the environmental and resource water cost. The integration of smart technologies in irrigation systems can help the agriculture industry in overcoming the shortcomings of traditional farming practices.
Key market players:
Netafim Ltd. (Israel), Calsense (U.S), The Toro Company (U.S), Rain Bird Corporation (U.S), Hunter Industries (U.S), Hydropoint Data System, Inc. (U.S), Stevens Water Monitoring Systems, Inc. (U.S.), Galcon Ltd. (Israel), Rachio Inc. (U.S), Weathermatic (U.S.), Banyan Water, Inc. (U.S.). In April 2019, Rain Bird Corporation launched ESP-Me controller with new functionality that enhances versatility in both light commercial and residential applications.
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For the purpose of this report, Reports and Data has segmented the Global Smart Irrigation Market on the basis of type, application, and region:
Type (Revenue, USD Million; 2016–2026)
- Climate Based Controller System
- Soil Moisture Controller System
Component (Revenue, USD Million; 2016–2026)
- Water Flow Meters
- Other Components
Application (Revenue, USD Million; 2016–2026)
- Agricultural fields
- Landscape and Turf Irrigation
Further key findings:
- The leading market players are focusing on the advanced technologies in the Smart Irrigation sector. For example, ProMed Pharma partnered with DSM Biomedical in January 2019 for polymeric drug delivery.
- DiFusion Inc. obtained FDA approval in November 2019 for Xiphose-ZF, a spinal interbody device fully dependent on another biomaterial ZFuze.
- In context to type, the natural products sub-segment has gained immense popularity for developing novel drugs that are promoting the fastest growth of the segment.
- Based on application, the orthopedic sub-segment led the market for Smart Irrigation in 2019 and is predicted to rise at a CAGR of 14.6% due to increasing chronic diseases associated with bones and muscles. The rising chronic musculoskeletal and skeletal conditions due to the growing need for Smart Irrigation for orthopedics.
- North America held the largest market revenue in 2019 due to various initiatives undertaken by some public and private sectors. Several leading players in this region and promising government policies are increasing the demand for the Smart Irrigation market in the North American region.
- The market in the Asia Pacific region is expected to expand with the highest CAGR during the projected period. Factors such as the rising geriatric populace, rising cases of cardiovascular diseases, plastic and cosmetic surgeries, along with augmented research activities are contributing to the expansion of the Smart Irrigation market in the Asia Pacific region.
- Europe occupied around 32.3% of the market share in 2019 and a CAGR of 14.1% during the projected period.
Smart Irrigation Market Forecast, Size, Share Analysis, By Type (Climate Based Controller, Soil Moisture Sensor Controller Systems), By Component (Sensors, Controllers, Water flow meters, Software and Others), By Application, By Region Forecasts To 2026, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/smart-irrigation-market
By Region (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Smart Irrigation Segmentation & Impact Analysis
4.1. Smart Irrigation Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Rapid Growth in the Geriatric Population
184.108.40.206. Rising Innovation in Smart Irrigation Products
220.127.116.11. Increased Incidence of Diabetes & Associated Chronic Wounds
4.2.3. Market restraints analysis
18.104.22.168. High cost of products for Smart Irrigation
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 5. Smart Irrigation Market By Product Type Insights & Trends
5.1. Product Type Dynamics & Market Share, 2020 & 2027
5.2. Moist Wound Dressings
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