Market Overview
The global smart irrigation market is gaining momentum pervasively. The growing population indicates that the world is about to confront an intensified demand for food in the years to come. Simultaneously, rapidly depleting water resources due to the increasing impacts of climate change prompts the need for climate-resilient crops. All these factors cumulatively presage the acute need to deploy smart irrigation techniques.
Smart irrigation is a viable solution for increasing the output of quality yield and reducing the vulnerability to climate change by curtailing water wastage. Technological advancements are promoting smart irrigation in agriculture, substituting rain-fed farming. Therefore, the demand for smart irrigation is augmenting, elevating its market on the global platform.
Additional factors impacting the smart irrigation market share include continual economic growth worldwide, enhancing consumer purchasing power and the quality of life. Substantial R&D investments are paying off well by bettering smart watering systems, hence the demand, sales, and eventually, the market size. Furthermore, the proliferation of IoT contributes to market growth, enhancing efficiencies of sensors used in the systems.
On the flip side, high costs associated with the installation and maintenance of smart irrigation systems are a major factor impeding market growth. Also, the lack of awareness among consumers towards the benefits of these systems restricts the market growth, especially in the underdeveloped regions. Nevertheless, increasing technological innovations would support the market growth throughout the assessment period, presenting cost-competitive solutions.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/2529
Segmental Analysis
The segmental asessment of the smart irrigation market share is conducted on the basis of type, component, application, region and vertical. The application basis of segmenting the smart irrigation market comprises of soil management, water resource management and groundwater management. On the basis of regions, the smart irrigation market is segmented into Asia Pacific, North America, Europe, and other notable markets. Based on the component, the smart irrigation market is segmented into controllers, sensors, and fertilizer meter. On the basis of types, the smart irrigation market is divided into sensor-based controller system and weather-based controller system. Based on the vertical, the smart irrigation market is divided into non-agriculture and agriculture.
Smart Irrigation Market - Regional Analysis
North America dominates the global smart irrigation market, Factors such as high disposable income and vast investments in agriculture projects positively impact the regional market growth. Investments in smart irrigation technology in the US and Canada are highly impressive. Also, the vast agricultural sector in the US is adopting smart irrigation systems at a rapid pace, substantiating the market demand in turn.
Europe holds the second significant share in the global smart irrigation market. The market is largely driven by regulatory laws implemented to increase crop yields.
Besides, green zone projects in countries like the UK and France increase the market demand significantly. Furthermore, favorable incentives policies to purchase smart watering solutions foster the growth of the regional market.
The Asia Pacific, too, holds a considerable share in the global smart irrigation market. Factors such as the vast areas of agricultural land, water scarcity, and demand for proper watering solutions boost the smart irrigation market size. Additionally, the improving economy of this region fosters market growth. India, China, and Japan are major smart irrigation markets in the region.
Key Findings of the Study:
The global Smart Irrigation market is projected to reach a value of USD 2,641.8 million by 2027, with a CAGR of around 14.7% during the forecast period from 2020 to 2027.
North America accounted for the largest market share in 2020; this is due to the emergence of IoT and convergence of multiple control functionalities.
Europe is expected to be second-largest market in 2020. The industrial and agriculture sectors in Europe seek to adopt smart irrigation solutions and develop new solutions for various use case scenarios.
Smart Irrigation Market - Competitive Analysis
The global Smart Irrigation market appears to be fiercely competitive and fragmented, with many well-established players having a global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
Get Complete Report @ https://www.marketresearchfuture.com/reports/smart-irrigation-market-2529
Major Players
Players leading the global smart irrigation market include Rain Bird Corporation (US), Hunter Industries (US), The Toro Company (US), Galocn (Israel), Netafim (Israel), and Stevens Water Monitoring System (US), among others.
Industry/ Innovation/ Related News
Aug.16, 2020 – Viridix (Israel), a developer of data-driven precision irrigation systems, announced its partnership with Talgil (Israel), a manufacturer of professional irrigation controllers, to offer farms cutting-edge smart irrigation. The partnership would provide farmers with the ability to automate irrigation cycles by optimizing water needs for each crop, combining Viridix’s data-driven technology with Talgil’s irrigation control systems.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Media Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
0 Comments
If u have any doubts, Please let me know