Published On: Jan 23, 2018
As the need to conserve water increases vigorously, farmers are embracing “smart” technologies in their irrigation practices. Smart irrigation is effectively penetrating the agriculture industry by optimizing water consumption and translating the use of advancing technologies into boosting the farm produce. Schoolyards and local botanical gardens are also being equipped with smart irrigation systems with an active involvement of municipal authorities. The overall adoption of smart irrigation systems continues to gain traction across several parts of the world. A recently published report by Transparency Market Research projects that by the end of 2026, the global smart irrigation market will have reached an estimated value of US$ 2.32 Bn.
The report further projects that during the forecast period, 2017-2026, the global smart irrigation market will expand at a CAGR of 13.1%. Leading companies in the global smart irrigation landscape will be focusing on providing smart irrigation management solutions. Key findings of the report reveals that smart irrigation management solutions will account for more than two-fifth share of global market value in 2017 and beyond. The report also reveals that companies namely, Rain Bird Corporation, HydroPoint Data Systems, Inc., Netafim Ltd., The Toro Company, Rachio Inc., Hunter Industries Inc., Galcon Ltd., Orbit Irrigation Products Inc., Telsco Industries Inc., Blossom, and Valmont Industries, Inc. will be representing the leading manufacturers of smart irrigation systems in the foreseeable future.
North America to Register Highest Demand for Smart Irrigation through 2026
Increasing inclination of agriculturists and farmers in the US and Canada towards integration of “smart” technologies has fuelled the growth of North America’s smart irrigation market. Over the forecast period, North America’s smart irrigation market is expected to account for approximately one-third share of global revenues. The report further expects that the Asia-Pacific excluding Japan (APEJ) region will register fastest revenue growth for its smart irrigation market, registering a 16.6% CAGR during the forecast period. Europe is also poised to remain a lucrative marketplace for smart irrigation. Drastically changing weather conditions recorded across several European countries is pegged to drive the adoption of smart irrigation solutions that facilitate weather monitoring across the region.
High Demand for Smart Irrigation Controller Systems to Spearhead Market Growth
Controller systems will continue to be the key components of smart irrigation solutions being developed across the globe. From operating on programmed schedule to providing inputs to the sensors and sprinklers, smart irrigation controller systems will register high demand in the near future. By the end of 2026, nearly US$ 900 Mn worth smart irrigation controllers are pegged to be sold globally.
The report also reveals that water management platforms and soil moisture sensors will collectively account for a considerable share on global smart irrigation market value throughout the forecast period. With respect to the end-use of smart irrigation systems, the report observes agri professionals at the forefront. In 2017, nearly US$ 300 Mn worth of smart irrigation systems have been used by agri professionals around the world. The report also projects that architects & specifiers will register the fastest end-use of smart irrigation systems, exhibiting a CAGR of 14.6% over the forecast period. Towards the end of 2026, the government end-use of smart irrigation systems is also expected to gain traction. Apropos the report, the overall outlook on the future of global smart irrigation market remains positive as leading manufacturers will continue to percolate untapped markets and reap new opportunities in terms of technological advancements and end-use.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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