The Smart Irrigation by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Irrigation, The smart irrigation market size has grown rapidly in recent years. It will grow from $1.61 billion in 2023 to $1.87 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to water scarcity, environmental concerns, precision agriculture, government regulations, urbanization and landscaping.
The smart irrigation market size is expected to see rapid growth in the next few years. It will grow to $3.36 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to climate change impact, population growth and food demand, water resource management, cost savings, increasing adoption in landscaping, government initiatives. Major trends in the forecast period include iot and big data, technological advancements, wireless connectivity, integration with weather data, remote monitoring and control, industry-specific solutions.
The growth of smart cities is significantly contributing to the growth of the smart irrigation market going forward. The increase in the importance of efficient watering solutions for non-agricultural practices is the major driving factor for the growth of this market. As smart cities are being the ongoing trend in major parts of the world, they emphasize efficient management of water practices for both commercials as well as residential spaces. For instance, according to Cities Today, a US-based magazine, the number of smart city projects in 2020 grew by 14% from 2019 and is expected to increase at a faster rate in 2023 and 2024. Therefore, an increase in smart cities helps in the growth of the smart irrigation market.
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The smart irrigation market covered in this report is segmented –
1) By Type: Climate-Based, Sensor-Based
2) By Technology: Evapotranspiration, Soil Moisture
3) By Component: Sensors, Controllers, Water Flow Meters, Software, Other Components
4) By End User: Agriculture, Golf Course, Residential, Other End Users
Major companies operating in the market are adopting new technologies such as precision irrigation system to sustain their position. Precision irrigation is a unique and sustainable agricultural approach that allows the application of water and nutrients to plants at the right time, place, and in the right quantity. For instance, in April 2022, Viridix, an Israel-based company that manufactures irrigation solutions, launched Viridix’s RooTense, a next-generation precision irrigation system with innovative AI-based autonomous capabilities that has not been seen before. This technology provides real time data, alongside the company’s unique AI-based software that aggregates the RooTense data with external data from other sources and analyzes it all to provide operational insights, enabling the system to make and act on autonomous decisions. This technology can help large and small farmers to produce more with less by leveraging data-driven decisions, optimizations, and Auto-Pilot automation.
The smart irrigation market report table of contents includes:
1. Executive Summary
2. Smart Irrigation Market Characteristics
3. Smart Irrigation Market Trends And Strategies
4. Smart Irrigation Market – Macro Economic Scenario
5. Global Smart Irrigation Market Size and Growth
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31. Global Smart Irrigation Market Competitive Benchmarking
32. Global Smart Irrigation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Smart Irrigation Market
34. Smart Irrigation Market Future Outlook and Potential Analysis
35. Appendix
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