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Smart Irrigation Market by Type (Weather Based, Soil Moisture Based) Component (Monitoring, Controlling, Connectivity, Software), Irrigation Type (Sprinkler, Drip, Surface, Pivot), End Use, and Geography - Global Forecast to 2030
Report ID: MRSE - 1041002 Pages: 300 Jul-2024 Formats*: PDF Category: Semiconductor and Electronics Delivery: 24 to 72 Hours Download Free Sample ReportThe Smart Irrigation Market to reach $10.2 billion by 2030, at a CAGR of 22.4% from 2024 to 2030. The growth of the smart irrigation market is driven by the rising need for water efficiency & conservation, the surge in government policies to promote sustainable agriculture & efficient use of water resources, and the growing demand for soil moisture monitoring in various areas, including agriculture, landscaping, and gardening. In addition, the increasing integration of technologies such as IoT sensors, Wi-Fi, & GPS in irrigation controllers and the increasing adoption of weather and sensor-based controllers are expected to offer significant opportunities for the growth of this market.
However, the high cost of installation hampers the growth of this market. In addition, the lack of proper water infrastructure in developing countries is a major challenge to the growth of this market.
Water conservation is preserving, controlling, and managing water resources and their use. Unfortunately, the existing water resources on the earth are limited and unevenly distributed. Therefore, water scarcity is one of the greatest challenges of the 21st century, where developing countries and developed countries confront water shortage problems due to growing population, increasing need for more agricultural production, and changing climates.
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Irrigation controllers automatically control irrigation systems, such as sprinklers and drip irrigation systems. They can be programmed to water crops based on various factors, such as soil moisture, weather conditions, and crop type. This helps to ensure that crops are watered efficiently and that water is not wasted. Secondly, it helps to improve crop yields. By watering crops efficiently, irrigation controllers can help to reduce crop stress and improve plant health. This can lead to higher yields and increased profits for farmers.
Furthermore, in April 2021, the Environmental Protection Agency (EPA) of the U.S. stated that every day, about 50% of 9 billion gallons of water used for residential outdoor purposes is wasted due to overwatering caused by inefficiencies in irrigation methods and systems. Hence, there is a need to swing focus from land productivity to water productivity to get the highest yield from water used in agriculture. As the need for water efficiency and conservation continues to grow, the adoption of irrigation controllers is likely to increase.
The Weather-based Irrigation Segment to Grow at the Highest CAGR During the Forecast Period
Based on type, the smart irrigation market is segmented into weather-based irrigation and soil moisture-based irrigation. Weather-based irrigation segment is expected to grow at the highest CAGR during the forecast period. Weather-based systems have become popular among homeowners, commercial building contractors, landscaping, and golf course managers. Major factors driving the growth of the smart weather-based irrigation controllers market include increasing government initiatives to promote water conservation, rising demand for food production, and automatic irrigation scheduling, leading to reduced labor costs. In addition, the increasing importance of effective irrigation solutions and watering practices has stimulated market growth.
The Controlling Components Segment to Grow at the Highest CAGR During the Forecast Period
Based on component, the smart irrigation market is segmented into monitoring components, controlling components, connectivity, and software. The controlling components segment is expected to register the fastest growth rate during the forecast period. The high growth of this segment is attributed to the increasing implementation of intelligent irrigation control systems; growing use of valves, sprays, and sprinklers over a larger area to manage the water supply efficiently and drippers in orchards & vineyards and vegetable gardens; rapid implementation of sensors to give feedback and information about the irrigated area to customers; and increasing demand for smart irrigation controllers and sensors to reduce outdoor water use.
The Drip Irrigation Segment is Expected to Grow at the Highest Fastest CAGR During the Forecast Period
Based on irrigation type, the smart irrigation market is segmented into sprinkler irrigation, drip irrigation, surface irrigation, pivot irrigation, and others. The drip irrigation segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to rising innovation & automation in drip irrigation systems, and the adoption of new agriculture technologies fuel the demand for drip irrigation controllers. Besides, drip irrigation requires 30-50% less water than sprinklers.
The Non-agricultural Segment to Dominate the Smart Irrigation Market in 2024
Based on end use, the smart irrigation market is segmented into agricultural and non-agricultural. In 2024, the non-agricultural segment is expected to account for the largest share of smart irrigation. The large market share of this segment is attributed to the presence of a large number of golf courses & sports grounds, lawns, and gardens, especially in developed countries, and the increased adoption of irrigation controllers to ensure adequate water supply to these areas. Smart irrigation controllers, with Wi-Fi capabilities and smartphone application management, have become increasingly popular in the non-agriculture industry. In addition, these same tech-savvy devices can make managing one or multiple sports fields easy and water-efficient for field management.
Asia-Pacific to Grow at the Highest CAGR During the Forecast Period
Based on geography, the smart irrigation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to register the highest CAGR during the forecast period. This market growth is mainly attributed to the rising adoption of modern irrigation techniques in developing countries, strong government support, rapid population growth, increasing need to enhance crop productivity and minimize water loss, increase in awareness among farmers about the benefits of irrigation controllers, and increased need for reducing wastage of water.
Key Players:
The key players operating in the smart irrigation market are Netafim Ltd. (Israel), The Toro Company (U.S.), Lindsay Corporation (U.S.), Rain Bird Corporation (U.S.), Valmont Industries, Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), Mottech Water Solutions Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Rachio, Inc. (U.S.), Holman Industries (Australia), Orbit Irrigation Products, Inc. (U.S.), HydroPoint Data Systems, Inc. (U.S.), Weathermatic (U.S.), Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel), and Calsense (U.S.).
Scope of the Report:
Smart Irrigation Market Assessment, by Type
Smart Irrigation Market Assessment, by Component
Smart Irrigation Market Assessment, by Irrigation Type
Smart Irrigation Market Assessment, by End Use
Smart Irrigation Market Assessment, by Geography
Key Questions Answered in the Report:
The global smart irrigation market is segmented based on type, component, irrigation type, end use, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.
The global smart irrigation market is projected to reach $10.2 billion by 2030, at a CAGR of 22.4% from 2024 to 2030.
Based on type, in 2024, the soil moisture-based irrigation segment is expected to account for the largest share of the smart irrigation market.
Based on component, in 2024, the monitoring component segment is expected to account for the largest share of the smart irrigation market.
Based on irrigation type, in 2024, the sprinkler irrigation segment is expected to account for the largest share of the smart irrigation market.
Based on end use, in 2024, the non-agricultural segment is expected to account for the largest share of the global smart irrigation market.
The growth of this market is attributed to the rising need for water efficiency & conservation, the surge in government policies to promote sustainable agriculture & efficient use of water resources, and the growing demand for soil moisture monitoring in various areas, including agriculture, landscaping, and gardening. In addition, the increasing integration of technologies such as IoT sensors, Wi-Fi, & GPS in irrigation controllers and the increasing adoption of weather and sensor-based controllers are expected to offer significant opportunities for the growth of this market.
However, the high cost of installation hampers the growth of this market. In addition, the lack of proper water infrastructure in developing countries is a major challenge to the growth of this market.
The key players operating in the smart irrigation market are Netafim Ltd. (Israel), The Toro Company (U.S.), Lindsay Corporation (U.S.), Rain Bird Corporation (U.S.), Valmont Industries, Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), Mottech Water Solutions Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Rachio, Inc. (U.S.), Holman Industries (Australia), Orbit Irrigation Products, Inc. (U.S.), HydroPoint Data Systems, Inc. (U.S.), Weathermatic (U.S.), Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel), and Calsense (U.S.).
Asia-Pacific is projected to register the highest CAGR during the forecast period. This market growth is mainly attributed to the rising adoption of modern irrigation techniques in developing countries, strong government support, rapid population growth, increasing need to enhance crop productivity and minimize water loss, increase in awareness among farmers about the benefits of irrigation controllers, and increased need for reducing wastage of water.
Published Date: Oct-2020
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