According to a new report Global Smart Irrigation Market, published by KBV research, The Global Smart Irrigation Market size is expected to reach $3,312.2 million by 2027, rising at a market growth of 14.3% CAGR during the forecast period.
The Climate-based market dominated the Global Smart Irrigation Market by Type in 2020, thereby, growing at a CAGR of 14% during the forecast period. Factors like the rise in government initiatives to aware people of water conservation, growing demand for food production, and automatic scheduling of irrigation resulting in decreased labor costs would contribute to the growth of the segment.
The Controllers market dominated the Global Smart Irrigation Market by Component in 2020, thereby, growing at a CAGR of 13.1% during the forecast period. It is owing to the growing adoption of the technology for better irrigation scheduling in lawns & gardens, residential & commercial property, and landscaping. In addition, smart controllers utilize weather & sensor information to alter the irrigation schedules automatically to any environmental changes like humidity, temperature, and soil moisture content.
The Agriculture market dominated the Global Smart Irrigation Market by End Use in 2020, thereby, growing at a CAGR of 13% during the forecast period. It is owing to the growing demand for quality food across the world, the rise in initiatives by different government bodies for conservation of water. Along with this, the increasing focus on growing farm productivity and profits through the utilization of smart irrigation solutions would augment the growth of the segment during the forecast period.
The North America market dominated the Global Smart Irrigation Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,284.2 million by 2027. The Europe market is poised to grow at a CAGR of 13.9% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 15.7% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/smart-irrigation-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of The Toro Company, Valmont Industries, Inc., Orbia Advance Corporation (Netafilm Ltd.), Hunter Industries, Inc., Jain Irrigation Systems Limited, Galcon Ltd., Telsco Industries, Inc. (Weathermatic), Stevens Water Monitoring Systems, Inc., Banyan Water, Inc., and AquaSpy, Inc.
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