New Zealand markets closed
  • NZX 50

    11,267.39
    +60.46 (+0.54%)
     
  • NZD/USD

    0.6410
    +0.0027 (+0.43%)
     
  • NZD/EUR

    0.6062
    +0.0037 (+0.62%)
     
  • ALL ORDS

    7,391.00
    +87.70 (+1.20%)
     
  • ASX 200

    7,145.60
    +81.10 (+1.15%)
     
  • OIL

    112.70
    +0.49 (+0.44%)
     
  • GOLD

    1,845.10
    +3.90 (+0.21%)
     
  • NASDAQ

    11,835.62
    -40.01 (-0.34%)
     
  • FTSE

    7,389.98
    +87.24 (+1.19%)
     
  • Dow Jones

    31,261.90
    +8.77 (+0.03%)
     
  • DAX

    13,981.91
    +99.61 (+0.72%)
     
  • Hang Seng

    20,717.24
    +596.56 (+2.96%)
     
  • NIKKEI 225

    26,739.03
    +336.19 (+1.27%)
     
  • NZD/JPY

    81.9320
    +0.4160 (+0.51%)
     

The Global Smart Irrigation Market Will Grow to USD 2.3 billion by 2026, at a CAGR of 14.9%

·5-min read

Dublin, Jan. 18, 2022 (GLOBE NEWSWIRE) -- The "Smart Irrigation Market with COVID-19 Impact Analysis by System Type, Application (Greenhouses, Open-Fields, Residential, Golf Courses, Turf & Landscape), Component (Controllers, Sensors, Water Flow Meters), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The smart irrigation market is projected to grow from USD 1.2 billion in 2021 and is projected to reach USD 2.3 billion by 2026; it is expected to grow at a CAGR of 14.9 % from 2021 to 2026.

The factors such as government initiatives for promoting water conservation, growth of smart cities and need for efficient irrigation systems, decreasing cost of sensors and controllers used in smart irrigation systems are driving the growth of the smart irrigation market. However, concerns associated with a breach of security in the context of smart irrigation system is the key factor limiting the growth of the smart irrigation market.

Market for open-field agriculture segment to grow at the higher CAGR than that of greenhouse segment during the forecast period.

The market for open-field agriculture applications is expected to grow at a higher CAGR during the forecast period. Various benefits associated with smart irrigation technology for open-field applications include high crop yield, enhanced crop quality, and efficient energy usage. In open-field irrigation, controllers assure that the important premixed nutrients are evenly distributed throughout open-field crops, as a result of which smart irrigation systems are widely being deployed for the open-field application.

Market for residential non-agriculture segment to dominate the smart irrigation market during the forecast period

The market for residential type held the largest market in the year 2020 and is expected to witness a surge in the coming years. The residential application is expected to hold the largest share of the market owing to tremendous growth in the construction of smart homes or smart cities throughout the world. Further, the increasing rate of replacement of conventional timer-based controllers with new smart irrigation controllers by residential homeowners and contractors is another factor contributing to the growth of the market. The rising disposable income especially across emerging economies has enabled homeowners to adopt smart irrigation systems.

Smart irrigation market for sensors to hold the second-largest share by 2021

The smart irrigation market for sensors is expected to account for the second largest share by 2021 The growth of this market can be attributed to a gradual shift in climatic conditions, increasing stringency of environmental regulations, and growing need for improving crop productivity. Likewise, the rapid advancement in wireless technologies is paving way for the market growth. For example, integration of Wi-Fi or cloud-based systems in plant canopy along with soil moisture sensors to receive real-time data on field conditions and utilizing GPS for the movement tracking of central pivot or linear move machines are also acting as the key determinants fueling the growth of the target market. The increasing adoption of soil moisture sensors, rain sensors, and fertigation sensors for irrigation scheduling at agriculture farms is expected to fuel the growth of this market during the forecast period.

Europe to hold a significant share of the smart irrigation market during the forecast period

Europe is expected to hold a significantly large share of the smart irrigation market during the forecast period. Europe is the second-largest market for smart irrigation owing to large cultivated and irrigated land area. Farmers in Europe are already using smart irrigation technologies for increasing crop yield and minimizing the water used in irrigation. This region is currently in the early adoption stage and holds huge potential for the smart irrigation market. Government agricultural policies in some countries such as France and Spain, focusing on the provision of requisite infrastructure for irrigation and subsidies to farmers for the installation of irrigation equipment, along with the guarantee of low water cost for agriculture, have driven the use of modern irrigation technologies in these countries. Few of the major companies operating in the smart irrigation market are based in Europe such as Delta-T Devices (UK), Soil Scout (Finland), and Caipos (Austria) which are focused towards developing innovative smart irrigation solutions. These factors have paved the way for the increased adoption of smart irrigation solutions in the region.

Market Dynamics

Drivers

  • COVID-19 Impact: Accelerated Deployment of IoT Sensors and Nodes

  • Government Initiatives to Promote Water Conservation

  • Growth of Smart Cities and Need for Efficient Irrigation Systems

  • Decreasing Cost of Sensors and Controllers Used in Smart Irrigation Systems

Restraints

  • Implementation of Smart Irrigation Technologies on Fragmented Land

  • High Costs and Limited Technical Knowledge and Skills Among Farmers

  • Issues Related to Breach of Security

Opportunities

  • Advancements in Communication Technologies and Advent of 5G Network Amid COVID-19

  • Integration of Smartphones with Wireless Irrigation Controllers Post-COVID-19

Challenges

  • Lack of Standardization in Industry

  • Connectivity Issues for Implementation in Rural Areas

Case Studies

  • Stevens Water Monitoring Systems' Hydraprobe Improves Water Supply Forecast Using Soil Moisture Data

  • Hydropoint's Weathertrak Helps Leed Platinum Research Campus Achieve Sustainability Goals

  • Banyan Water's Irrigation Insight Solution Helps Hp Achieve Outdoor Water Savings

  • Valley Irrigation's Water Management Pump Solution Helps Mcclure Farms Automate Irrigation Process

  • Drought Management in California's Ojai Valley with IoT-Based Solution

Companies Mentioned

  • Acclima

  • Aquaspy

  • Banyan Water

  • Caipos

  • Calsense

  • Delta-T Devices

  • Galcon

  • Groguru

  • Hortau

  • Hunter Industries

  • Hydropoint

  • Jain Irrigation Systems

  • Manna Irrigation

  • Netafim

  • Orbit Irrigation Products

  • Rachio

  • Rain Bird Corporation

  • Rain Machine (Green Electronics)

  • Skydrop

  • Soil Scout

  • Stevens Water Monitoring Systems

  • The Toro Company

  • Valley Irrigation (A Valmont Company)

  • Weathermatic

  • Wiseconn Engineering



For more information about this report visit https://www.researchandmarkets.com/r/xttmte

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting