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.
Irrigation is one of the crucial processes in agriculture, in which farmers manage the amount of water given to the plants at a fixed interval of time. With the advancement in agricultural technologies, many advanced agricultural systems and solutions are introduced to the market, which save the time and efforts of the farmers. One such solution is smart irrigation that provides efficient and timely management of different kinds of irrigation systems like drip, sprinkler, surface, pivot, center, and manual to help in the conservation of time and water resources.
Smart irrigation systems are the integration of numerous advanced solutions that helps farmers for remote supervision and automation of the irrigation procedure. These systems generally consist of controllers, sensor-based sprinklers, and water meters to evaluate soil nutrient content, moisture, humidity, and salinity levels.
The outbreak of the COVID-19 pandemic has negatively impacted the smart irrigation market. Various sectors of the economy including the agricultural sector have witnessed severe disruption in its demand and growth. However, the pandemic has created more awareness among farmers about the prevalence and operations of different smart technologies and systems, which is escalating the requirement for automation technologies & systems in agriculture sector like temperature sensors, rain sensors, soil moisture sensors, climate sensors, and fertigation sensors.
In addition, the capability of irrigation controllers to remotely access and monitor fields along with getting adequate inputs from the farms would support the growth of the smart irrigation market in the post-COVID-19 period.
Smart irrigation systems are widely used in building smart cities in order to conserve water. The concept of a smart city is gaining more momentum across various nations of the world since this concept focuses on the sustainable management of water in commercial and residential spaces. The growing urbanization is leading to the reduction in the green cover to make a pathway for concrete infrastructure, which makes it essential to manage the green balance and thus, implement smart irrigation concept for it.
With the introduction of 5G network, companies are highly inclining towards making their products more advances and easier to utilize, which is benefitting farmers and residential users. In the past few years, conventional hardwire systems are improved and updated to wireless data communication systems. These advanced wireless sensors provide convenience & mobility and the introduction of radiofrequency technology in irrigation with wireless signal communication systems would offer better connectivity.
Smart irrigation systems have a high cost of implementation, which restricts many farmers from its adoption and thus, hinders the growth of the smart irrigation market in the upcoming years. In addition, this high cost would limit the access of the latest technology to big and industrialized farms, and thus, hamper the growth of the smart irrigation market. At present, numerous advantages of information & communications technology integrated with irrigation systems are highly restricted to advanced nations with an aim at the production of widely used and grown crops like maize, wheat, and rice.
Based on type, the market is segmented into Climate based and Sensor based. The sensor-based system segment is projected to display the highest CAGR over the forecast period. It is due to the growing adoption of sensor-based systems in the agricultural sector in order to conserve water and improve crop yield.
Based on Component, the market is segmented into controllers, sensors, Meters, and Others. Among these, the sensor-based irrigation controller segment is estimated to record the fastest growth rate over the forecast period. This growth is attributed to the aspects like shifting climatic conditions, an increase in the number of strict environmental regulations, and rising requirements for enhancing crop productivity.
Based on End Use, the market is segmented into agricultural, Golf Course, Residential, and Others. The residential segment is estimated to witness a significant growth due to the increasing construction activities of homes and development of various smart city projects across the globe. Along with that, the growing rate of changing traditional timer-based controllers with the latest smart irrigation controllers by residential homeowners & contractors would support the growth of the segment.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 1.12 Billion |
| Market size forecast in 2027 | USD 3,312.2 million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 14.3% from 2021 to 2027 |
| Number of Pages | 196 |
| Number of Tables | 364 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Component, End Use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific region is estimated to showcase the fastest growth rate in the smart irrigation market over the forecast period. It is due to the aspects like the high adoption of smart devices, which can control the smart irrigation systems remotely to get the access of field information, increase in adoption of IoT-based irrigation systems across nations like China and India, and rise in investments in the ag-tech industry of the region.
Free Valuable Insights: Global Smart Irrigation Market size to reach USD 3,312.2 million by 2027
The major strategies followed by the market participants are Product Launches. Based on the analysis presented in the Cardinal matrix; The Toro Company and Orbia Advance Corporation are the forerunners in the Smart Irrigation Market. Companies such as Hunter Industries, Inc., Jain Irrigation Systems Limited and Stevens Water Monitoring Systems, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
By Type
By Component
By End Use
By Geography
The smart irrigation market size is projected to reach USD 3,312.2 million by 2027.
Improvements in technologies and the emergence of 5G network are driving the market in coming years, however, the huge cost attached to smart irrigation systems limited the growth of the market.
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.
Yes, The capability of irrigation controllers to remotely access and monitor fields along with getting adequate inputs from the farms would support the growth of the smart irrigation market in the post-COVID-19 period.
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.
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.
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