Smart Irrigation Market - A Global and Regional Analysis: Focus on Application, Product, and Country-Wise Analysis - Analysis and Forecast, 2021-2026
Market Report Coverage - Smart Irrigation
Market Segmentation
- Application - Agricultural and Non-Agricultural
- Component - Controller, Sensor, Water Flow Meter, and Others
- System - Weather-Based Controller System and Sensor-Based Controller System
- Business Model - Irrigation-as-a-Product and Irrigation-as-a-Service
Regional Segmentation- North America - U.S., Canada, and Mexico
- South America - Argentina, Brazil, Peru, and Rest-of-South America
- Europe - Germany, France, Italy, Netherlands, Spain, Denmark, and Rest-of-Europe
- U.K.
- Middle East and Africa - Israel and Rest-of-Middle East and Africa
- China
- Asia-Pacific - India, Japan, Australia, South Korea, and Rest-of-Asia-Pacific
Market Growth Drivers- Increased Government Initiatives to Promote Water Conservation
- Increased Mechanization and Automation in Agriculture Industry
- Decreasing Cost of Components
Market Challenges- High Initial Infrastructure Cost
- Lack of Technical Knowledge and Skills
Market Opportunities- Growth in 5G Network for Remote Monitoring
- Growing Adoption of Modern Technologies across Different Regions
- Expansion of Augmented Reality Applications across Farming Operations
Key Companies ProfiledBanyan Water, Inc., CALSENSE, Galcon, Hunter Industries, HydroPoint, Jain Irrigation Systems Ltd., Netafim, Orbit Irrigation Products LLC, Rachio inc., Rain Bird Corporation, RainMachine – Green Electronics LLC, Scotts Irrigation & Landscaping, Skydrop, Stevens Water Monitoring System Inc., The Toro Company
How This Report Can Add Value
This extensive report can help with:- The report covers product, application, and regional market estimations for the smart irrigation market.
- Extensive competitive benchmarking of the top 15 players has been done to offer a holistic view of the global smart irrigation market landscape.
Recent Developments in Global Smart Irrigation Market- In December 2021, Netafim launched flexi sprinkler kits – a field crops sprinkler irrigation system. The company aims to cover 15,000 hectares and reach 15,000 farmers across the country by 2022 with the flexi sprinkler kit.
- In September 2021, Orbit Irrigation Systems LLC announced a major application feature that helps address drought conditions in a geographic area by monitoring use, need and weather patterns. B-hyve launched this feature to provide their customers with a better way to manage water usage during drought conditions.
- In November 2019, Stevens Water Monitoring System Inc. has partnered with these research stations to evaluate the water use efficiency of the watermelon through advanced sensor-based, sub-surface drip irrigation technology.
- In April 2019, The Toro Company signed a partnership with Hazeltine National Golf Club for an 11-year equipment and tournament support agreement.
Key Questions Answered in the Report- What is the estimated global smart irrigation market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
- What are the key trends, market drivers, and opportunities in the market about the smart irrigation market?
- What are the major restraints inhibiting the growth of the global smart irrigation market?
- What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
- What is the competitive strength of the key players in the smart irrigation market based on the analysis of their recent developments, product offerings, and regional presence?
- What is the competitive benchmarking of the key smart irrigation companies in the agriculture market based on the analysis of their market coverage and market potential?
- What is the market share analysis in each segment expected to record during the forecast period, along with the growth percentage? The segments are as follows:
- Product, including component (controller, sensor, water flow meter, and others), by system (weather-based controller system and sensor-based controller system), and by business model (irrigation-as-a-product and irrigation-as-a-service)
- Application, including (agricultural and non-agricultural), by agricultural (open field and plant factory), by non-agricultural (residential, golf course and sports grounds, and turf and landscape)
- Region, including North America, the U.K., Europe, Asia-Pacific, China, Middle East and Africa, and South America
- What is the type of players operating in the market ecosystem of smart irrigation, and what is their significance in the global market?
Smart IrrigationIrrigation, often known as watering, is the agricultural practice of applying controlled measures of water to land to aid in the growth of crops, as well as to produce landscaping plants and lawns.
Smart irrigation process helps in automating the irrigation procedure and reducing the water use which ultimately reduces the irrigation cost, gives better understanding of the soil and crop moisture content, timely notifications of the abnormalities in soil, good long- term health of the landscape.
The smart irrigation market is at a growth phase. Agricultural consumes more than 50% of the water for irrigation. Therefore, as an acceptable solution, there is a need to reduce agricultural water use by utilizing water in the right quantities. Internet-based software systems provide a cost-effective approach to water management, thereby promoting the global smart irrigation market.
Global Smart Irrigation Industry OverviewThe global smart irrigation market was estimated to be at $1.26 billion in 2020, which is expected to grow with a CAGR of 13.69% and reach $2.75 billion by 2026. The growth in the global smart irrigation market is expected to be driven by increasing demand for sustainability and increased mechanization and automation in agriculture industry.
Impact of COVID-19Due to the COVID-19 pandemic, the shortage in staff availability in the industry has resulted in the introduction of smart irrigation systems worldwide. However, it has also helped understand the value of smart irrigation due to people's concern for food security, poverty, and global economic impact. Therefore, smart irrigation practitioners have responded positively to this crisis, and therefore, the global smart irrigation market is anticipated to bounce back more robustly in the future.
Market SegmentationSmart Irrigation Market by ApplicationThe application segment includes agricultural and non-agricultural segments. The global smart irrigation market in the application segment is expected to be dominated by non-agricultural application due to huge wastage of water in all forms of conventional irrigation applications.
Smart Irrigation Market by ComponentThe component segment for the global smart irrigation market includes controller, sensor, water flow meter, and others. The global smart irrigation market in the component segment is expected to be dominated by controller, followed by sensor. Controllers and sensors are used to enable a smart irrigation system to be deployed in agricultural and non-agricultural applications.
Smart Irrigation Market by SystemThe system segment for the global smart irrigation market includes weather-based controller system and sensor-based controller system. The global smart irrigation market in the system segment is expected to be dominated by weather-based controller system. This is due to the better accuracy and multiple applications of these controllers in the field.
Smart Irrigation Market by RegionNorth America generated the highest revenue of $460.6 million in 2020 due to high technological advancement in the region, high awareness on smart and modern irrigation solutions for agricultural and non-agricultural applications, and around 40 million acres of lawn, thus, turf grasses occupying more than 1.9% area of continental U.S., which requires daily watering for the maintenance.
Key Market Players and Competition SynopsisThe companies profiled in the report have been selected post-in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the smart irrigation market.
Some key players operating in the global smart irrigation market are Banyan Water, Inc., Caipos GmbH, Calsense, ET Water Systems, Inc., Galcon, Hunter Industries, HydroPoint, Jain Irrigation, Inc., Netafim, Orbit Irrigation Products LLC, Rachio inc., and Rain Bird Corporation.
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Companies Mentioned
Banyan Water, Inc.
CALSENSE
Galcon
Hunter Industries
HydroPoint
Jain Irrigation Systems Ltd.
Netafim
Orbit Irrigation Products LLC
Rachio inc.
Rain Bird Corporation
RainMachine – Green Electronics LLC
Scotts Irrigation & Landscaping
Skydrop
Stevens Water Monitoring System Inc.
The Toro Company