Global Smart Irrigation Market: Snapshot
The integration of “smart” technologies in irrigation systems helped the agriculture industry in overcoming the shortcomings of traditional irrigation practices. By offering a variety of advantages, smart irrigation systems and solutions are being adopted in several parts of the world. Agriculturists and farmers, in particular, are promoting smart irrigation technologies on the grounds their key role in optimizing the usage of water. From checking the soil moisture levels to prepping up for changing weather conditions, a range of sensors and wireless communication technologies are lined together for facilitation smart irrigation. The advantage of these technologies remains long-terms as every drop of water saved with the help of smart irrigation amounts for a significant contribution to the global water conservation.
With advancements in sensor technologies, smart irrigation systems of tomorrow are becoming more effective in controlling the usage of water. Even in domestic end-uses such as schoolyards, government parks and community botanical gardens, smart irrigation is witnessing a steadfast adoption. Smart irrigation has commendably changed the status quo of how farming was solely dependent on favorable weather conditions. New products entering the global smart irrigation market are transforming the irrigation practices, and thereby boosting the agricultural produce to a considerable extent. According to Transparency Market Research’s recently published report, factors as such are expected to drive the demand for smart irrigation vigorously. The study forecasts that the global smart irrigation market will expand at a CAGR of 13.1%, reaching an estimated value of US$ 2.32 Bn by the end of forecast period, 2017-2026.
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The penetration of automation and IoT technologies in the agriculture sector is the most nascent global development. Several developing countries rely on agriculture for their economic stability and sustenance. For this reason, a number of cooperation agreements and guilds of countries have agreed and resolved to revolutionize the agricultural sector. The use of smart irrigation systems is the primary step in overhauling the agricultural sector, and shall create fresh pathways for growth within the global agricultural industry. Furthermore, the essence of agriculture lies in increasing the total output which is also a function of improved cultivation and agricultural practices. Henceforth, the total volume of revenues flowing into the global smart irrigation market is expected to reach unprecedented heights in the times to follow.
- The need for timely irrigation of fields has necessitated the use of automation in the agricultural sector. Besides, several crops and cultivations such as those for rice are heavily dependent on water logging and inflow. Therefore, the use of smart irrigation systems is enabling farmers to get rid of their apprehensions towards water management and irrigation. For this reason, the global smart irrigation market is growing at sturdy pace in recent times.
- Farmers across several developing nations have been trained to use smart technologies that can help them schedule their visits and time the water discharge cycle across the fields. This has created fresh demand within the global smart irrigation market. Moreover, the availability of smart phones and other automated devices at the disposal of farmers in developing countries has also driven demand within the market. It is safe to say that the global smart irrigation market would expand alongside increased export of automated plant watering technologies to developing nations. The contribution of the state in driving demand within this market has also been phenomenal over the recent past.
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Smart Irrigation Controller Systems to Represent Top-Selling Components through 2026
The report projects that the sales of smart irrigation controller systems will remain predominantly high in the market’s expansion over the forecast period. By the end of 2026, smart irrigation controller systems worth nearly US$ 900 Mn are expected to be sold in the global market. The effectiveness of smart irrigation solutions continues to remain largely dependent on the efficacy of controller systems. In addition to the smart irrigation controller systems, soil moisture sensors and water management platform are also expected to represent leading component-type segments. Collectively, these two segments are likely to account for more than one-third share on global smart irrigation market value throughout the forecast period.
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Through 2026, smart irrigation will remain highly profitable for agri professionals – from farmers to agronomists. Agri professionals will emerge as the largest end-users of smart irrigation, and will bring in nearly US$ 800 Mn to the global market value by 2026-end. However, the report also projects that the end-use of smart irrigation systems and solutions across communities and among architect & specifiers will be the fastest, exhibiting more than 14% CAGR in terms of revenues.
North America and Europe to Register High Adoption of Smart Irrigation
The report estimates that developed regions will be lucrative for the adoption of smart irrigation. In 2017, North America’s smart irrigation market surpassed an estimated valuation of over a quarter of billion dollars. The report further reveals that Europe’s smart irrigation system sales will account for one-fourth of the revenues procured in the global smart irrigation market through 2026. However, the Asia-Pacific excluding Japan region will register the fastest growth over the forecast period. While nascent integration of technologies in farming practice will act as an impediment, but progressive economies such as India, South Korea and China are showcasing great leaps towards steadfast adoption of smart irrigation. Over the forecast period, the APEJ smart irrigation market is poised to expand at the highest CAGR of 16.6%.
Leading players in the global smart irrigation market will be focused on tapping the demands of the APEJ region. In addition, several companies will be largely focused on providing smart irrigation management solutions. The overall demand for smart irrigation management solutions is poised to witness a significant upsurge, bringing in nearly US$ 950 Mn by the end of the forecast period. Companies namely, Rain Bird Corporation, Netafim Ltd., HydroPoint Data Systems, Inc., Rachio Inc., The Toro Company, Galcon Ltd., Hunter Industries Inc., Telsco Industries Inc., Orbit Irrigation Products Inc., Valmont Industries, Inc., and Blossom are expected to cater to the brimming demands of smart irrigation in the foreseeable future.
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