The Global Smart Irrigation Market is estimated to register a CAGR of over 12.80% to reach USD 6.3 Billion by the end of 2030
The Smart Irrigation Market will obtain a CAGR of over 12.80% and a value of USD 6.3 Billion in the forecast period by 2030.
The Smart irrigation system is an advanced technology for enhancing agriculture systems and techniques. This advanced system monitors weather reports, soil conditions, plant-water usage, and other activities. The system automatically adjusts the watering scheduling time. Due to these features, the Smart Irrigation Market enhances with a higher growth rate.
The market is in higher demand in sectors such as the agriculture, golf course, and residential sectors. The government takes the initiative with effective policies promoting farming and water conservation activities. This is further driving the Smart Irrigation Market growth. Implementing automated monitoring systems in the farming sector is another factor driving the market's demand.
The higher investment, rise in maintenance costs, and lack of a trained workforce for operating the technology act as market restraints. But the development of the industrial players is helping the market to emerge. The inclination toward a 5G network for remote monitoring and the rise in the adoption of smart infrastructures is setting wide growth opportunities for growth. The rise in competition and lower awareness of small-scale manufacturers hamper the market's growth. The rise in awareness for the installation of smart irrigation and the surge in water conservation requirements are the major factors boosting the market's growth.
The presence of growth factors and the opportunities will let the Smart Irrigation Market emerge globally.
COVID-19 Impact vs Opportunities for Global Smart Irrigation Market:
The breakout of the COVID-19 pandemic has had a double impact on the global semiconductor industry. The manufacturers of electronic components and devices such as various sensors such as temperature sensors and other hardware parts experienced scarcity of raw materials and shortage of workers owing to the lockdown, imposed movement restrictions, and stay-at-home orders. COVID-19 has also disrupted the import and export of major smart irrigation components all around the world.
The increase in the penetration of smartphones among the vast global population, especially young adults, has opened doors for technological developments among various industry verticals, including agriculture. Furthermore, the advancements in the telecom industry have helped expand its network connectivity and broaden its consumer base.
Emergence of IoT and convergence of multiple control functionalities: The smart irrigation system utilizes advanced weather data, soil moisture information, temperature, and wind-flow sensors and controllers to reduce the wastage of water and maintain plant health and quality.
Increasing government initiatives to promote water conservation: More than 690 million of the global population (over 8.9% of the total global population) stay hungry, which has increased by more than 60 million in the last half a decade. Hence, government agencies across the globe are striving to conserve water for future use.
Growing smart cities and the need for efficient irrigation systems: The governing bodies across the globe are focusing on utilizing information and communication (ICT) technologies to improve day-to-day operational performance and the quality of life in urban areas by investing in developing smart cities.
Continuous advancements in communication technologies: The continuous R&D in technologies including IoT, AI, computer vison, automation, etc. to overcome the issues such as network security from cyberthreats, remote metering & leak detection, and data integration & advanced analytics.
Integration of smartphones with irrigation controllers and software applications: Smartphone applications can enable gain accuracy in growing the plants as per their needs without affecting the environment.
Implementation of smart irrigation technologies in fragmented land: Fragmentation of land has increased the number of landholders holding small portions across the globe, especially in China, India, and the Mediterranean region, owing to the traditional land inheritance and transmission systems.
High technological costs and limited technical knowledge & skills among farmers: the adoption of these technologies, especially by the small farmers, increases the budget constraints owing to the high cost of installation. Furthermore, the farmers find it difficult to manage and operate the smart irrigation systems due to a lack of technical knowledge and required skills among end-users.
Lack of standardization: The smart irrigation system uses several technologies, including communication and interfaces that enable managing and controlling irrigation according to the plant needs and environmental conditions. However, the irrigation systems lack standardization, which affects the system's quality, reliability, cost, features, capabilities, and others.
High cost of electronics: Smart irrigation systems incur a high cost of adoption due to the technologies featured in them, such as controllers, sensors, which measure parameters such as soil moisture, rain & freeze conditions, wind flow, and temperature, and communication equipment.
Water is heavily subsidized: Government agencies are incentivizing the use of conventional irrigation systems and chemical fertilizers to increase the yields and fulfill the demand for an adequate food supply from the rising human population.
The smart irrigation market supply chain has evolved from a conventional approach to highly efficient supply chain processes. The supply chain of the global smart irrigation market covers the stages of design & development, system installation, and application.
The global smart irrigation market has been segmented on the basis of component, system type, application, and region.
By component, the smart irrigation market has been segmented into controllers, sensors, water flow meters, and others.The controllers segment accounted for the largest market share in 2019 and is estimated to register a CAGR of 42.4% during the review period.
The global smart irrigation market, based on system type, has been segmented into weather-based controller systems and sensor-based controller systems.
The global smart irrigation market, based on agriculture, has been segmented into agricultural and non-agricultural.
The global smart irrigation market has been studied across Asia-Pacific, North America, Europe, and Rest of the World. North America accounted for the largest market share of 40.9% in 2019. The industrial sector in Mexico and the US are increasingly adopting IoT devices to automate their processes. The US is leading the market, whereas Canada is expected to witness the highest growth rate in the coming future.
The smart irrigation market in Europe is growing rapidly due to the factors such as the emergence of IoT and convergence of multiple control functionalities and the increasing government initiatives to promote water conservation.
Smart irrigation is gaining pace in Asia-Pacific exponentially as the region's agricultural sector is booming, and more and more countries in the region are opting for smart irrigation solutions for reliability and increasing efficiency of the market.
Hunter Industries (US) aims at creating solutions that use as little water and energy as possible to develop optimal landscape function and ambiance. The company’s recent launch of the Wireless HC Flow Meter communication kit helps maximize the time, material, and labor savings required for new installations or retrofit projects.
Key players operating in the global smart irrigation market include The Toro Company (US), Netafim (Israel), Hunter Industries (US), Rain Bird Corporation (US), HydroPoint (US), Rachio (US), Banyan Water (US), Rain Machine (US), ET Water (US), Galcon(US), Weathermatic (US), Skydrop (US), Blossom (Scotts Company) (US), and Delta-T Devices (UK)
Rachio's Industry, a Leading Smart Irrigation Controllers, has offered maximum water saving with 25% Off on Earth Day. Due to the inclination toward more sustainable practices in their lives, smart irrigation controller leader Rachio has taken this step. The EPA estimated that a household with an automatic landscape irrigation system not properly maintained and operated wastes 25,000 gallons of water annually. The outdoor water usage can be controlled by replacing the existing sprinkler controller with a Rachio 3 controller.
The study of the global smart irrigation market provides detailed information about the industry trends and dynamics, market size, competitive landscape, and growth opportunities. This research report categorizes the smart irrigation market based on components, system type, application, and region.
Scope of the Report
The scope of the global smart irrigation market study includes the market size analysis and a detailed analysis of the manufacturer’s products and strategies. The market has been segmented based on component, system type, application, and region.
|Market Size||USD 6.3 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Product, Connector Type, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hunter Industries, Inc. (US), The Toro Company (US), Netafim (Israel), Rain Bird Corporation (US), HydroPoint Data Systems (US)|
|Key Market Opportunities||• Continuous advancements in communication technologies • Integration of smartphones with irrigation controllers and software applications|
|Key Market Drivers||• Emergence of IoT and convergence of multiple control functionalities • Increasing government initiatives to promote water conservation • Growing smart cities and the need for efficient irrigation systems|
The weather-based controller systems segment is expected to drive the market during the forecasted period.
The global smart irrigation market has been growing rapidly from the past few decades and is expected to reach USD 6.3 Billion by 2030, at a CAGR of 12.80% during the forecast period.
Hunter Industries, Inc. (US), The Toro Company (US), Netafim (Israel), Rain Bird Corporation (US), HydroPoint Data Systems (US) are expected to be the major competition in the smart irrigation market during the projected period.
The North America region is expected to be the largest market for smart irrigation market during the forecast period.
Implementation of smart irrigation technologies in fragmented land and high technological costs and limited technical knowledge & skills among farmers may slow the growth of the smart irrigation market during the forecast period.