Smart Irrigation Market Size Worth USD 6,978.05 Billion in 2032 | Emergen Research

Vancouver, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The global smart irrigation market size reached USD 1,476.3 Million in 2021 and is expected to register a revenue CAGR of 15.2% during the forecast period. Increasing need for smart notifications in case of abnormalities in irrigation process and remote access to real-time data are some key factors expected to drive market revenue growth.

Water management is required to reduce water wastage so as to avoid water shortage in the future. Improper watering methods lead to water wastage through evaporation, wind, and runoff. Smart irrigation systems are designed to reduce the amount of water used in outdoor irrigation processes based on plant water needs on a user-determined fixed schedule, thereby reducing utility bills and creating a more water-efficient, healthy landscape.

In addition, smart irrigation technology uses weather data or soil moisture data to reduce outdoor water consumption, resulting in enhanced soil efficiency. Rising awareness regarding advanced technologies such as remote access to irrigation controllers and real-time data access to farms among large-scale farmers are factors expected to drive market growth.

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However, lack of skilled workforce is one of the major factors expected to hamper deployment and restrain revenue growth. Smart irrigation system comprises a variety of components such as sensors, controllers, and water flow meters, among others. The use of all these components requires knowledge of advanced technologies and software. Manufacturers or providers would be needed to provide training to farmers or users to enable operation and use of smart irrigation systems. This is a factor that could be complex and challenging and restrain adoption and impact market growth.

The global smart irrigation market is expected to register a CAGR of 15.2% over the forecast period, and revenue is projected to increase from USD 1,476.3 Million in 2021 to USD 6,978.05 Million in 2032. Increasing need to enhance landscape health is one of the major factors driving revenue growth of the market.

COVID-19 pandemic has had a negative impact on the global smart irrigation market. The pandemic disrupted various sectors of the economy, including agriculture. Major negative impact on economies was a result of extended lockdowns and restrictions imposed by governments of various countries. Smart irrigation system manufacturers and providers as well as farming and agriculture were impacted due to supply chain disruptions and non-availability of necessary components.

Salinity, waterlogging, and irregular supply are the most common abnormalities in the smart irrigation process. Smart irrigation system equipped with Internet of Things (IoT) sensors is a good solution to such issues. The primary objective of IoT sensors in smart irrigation systems is to detect any issues or errors in the watering process and send real-time data to the farmer. The issue can be solved through a custom cloud-based platform or mobile application. As a result, it decreases operational costs, reduces water wastage, and increases productivity. These factors are expected to support global smart irrigation market revenue growth during the forecast period.

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Scope of Research

Major Companies and Competitive Landscape

The global smart irrigation market is moderately fragmented, with a number of large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective smart irrigation solutions.
Some major companies included in the global smart irrigation market report are:

• Toro Manufacturing LLC
• Netafim, Ltd.
• Hunter Industries, Inc.
• Rain Bird Corporation
• Galcon Controller Agricultural Cooperative Society, Ltd.
• Telsco Industries, Inc.
• Hydropoint Data System, Inc.
• Rachio, Inc.
• Stevens Water Monitoring Systems, Inc.
• Banyan Water, Inc.

Strategic Development

• In December 2021, Toro Manufacturing LLC announced the launch of Tempus Automation system for agricultural irrigation. The system features 4G/wi-fi/LoRa/Bluetooth technology and outperforms the competition in range, ease of installation, and functionality. The launch aims to help farmers reduce overall labor, improve crop irrigation fertigation, and remotely monitor the entire system and agronomic conditions.
• In August 2021, Netafim Ltd. unveiled the Portable Drip Kit. This complete all-in-one irrigation solution is easy to install and affordable. The kit is designed for small farmers with up to one acre of farmland, providing installation assistance without additional labor. The drip kit is suitable for various rabi and Kharif crops, including vegetables, cucurbits, and close-spaced crops. The launch aims to irrigate 10,000 hectares of land and reach 25,000 farmers across India in the 2022.
• In February 2020, Rain Bird Corporation launched the ESP-LXIVM series of two new, easy-to-use controllers for two-wire irrigation systems that provide large and challenging sites with advanced water management tools, diagnostics, and various new features. In addition, ESP-LXIVM standard model can support 60 stations; whereas, the pro model ESP-LXIVM can monitor up to 240 stations. Furthermore, The LXIVM's advanced diagnostics feature a self-healing feature that automatically identifies fixes for wire path and splice issues, allowing irrigation to resume without manual intervention.

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Emergen Research has segmented global smart irrigation market on the basis of system type, component, application, and region:

• System Type Outlook (Revenue, USD Million; 2019–2032)

• • Sensor-based
  • Weather-based

• Component Outlook (Revenue, USD Million; 2019–2032)

• • Sensors
  • Controllers
  • Water Flow Meters
  • Others

• Application Outlook (Revenue, USD Million; 2019–2032)

• • Agricultural
  • Non-Agricultural
  • Others

• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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