Dublin, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The "Precision Irrigation - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Precision Irrigation was estimated at US$3 Billion in 2023 and is projected to reach US$4.1 Billion by 2030, growing at a CAGR of 4.4% from 2023 to 2030.
Precision Irrigation: Revolutionizing Water Management in Agriculture
Precision irrigation is an advanced farming technique that involves the accurate and efficient application of water to crops based on real-time data and field-specific conditions. This approach contrasts with traditional irrigation methods, which often apply water uniformly across fields, regardless of varying crop needs or soil moisture levels. Precision irrigation systems, consisting of sprinkler, drip and boom system, use technologies such as sensors, GPS, satellite imagery, and data analytics to monitor factors like soil moisture, weather conditions, and crop health, enabling farmers to deliver the right amount of water at the right time. By optimizing water usage, precision irrigation not only conserves water resources but also enhances crop yield and quality. This technology is crucial in addressing the challenges of water scarcity and the increasing demand for food production, making it a vital tool for sustainable agriculture.
How Are Technological Advancements Enhancing Precision Irrigation?
Technological advancements have significantly enhanced the capabilities and effectiveness of precision irrigation systems. The integration of Internet of Things (IoT) devices and wireless sensor networks has improved the accuracy of soil moisture and environmental monitoring, providing real-time data that informs irrigation decisions. Advanced algorithms and machine learning models analyze this data to predict irrigation needs, taking into account factors such as crop type, growth stage, and weather forecasts. The development of smart irrigation controllers has further automated the process, allowing for remote management and adjustments via mobile devices.
Additionally, the use of satellite and drone imagery enables precise mapping of field variability, helping farmers identify areas that require more or less water. These technological improvements have made precision irrigation more accessible, scalable, and efficient, driving its adoption in both small-scale and large-scale farming operations.
What Are the Key Applications and Benefits of Precision Irrigation?
Precision irrigation is applied across various agricultural sectors, offering numerous benefits that contribute to sustainable and efficient farming practices. In arable farming, precision irrigation helps optimize water use for crops like corn, wheat, and soybeans, ensuring consistent growth and reducing the risk of water stress. In horticulture, where water needs can vary significantly between plant types and growth stages, precision irrigation supports the production of high-value crops such as fruits, vegetables, and flowers by delivering water tailored to specific crop requirements. In viticulture, precision irrigation is used to manage water stress in vineyards, which is crucial for maintaining grape quality and achieving desired wine characteristics.
The primary benefits of precision irrigation include water conservation, improved crop yield and quality, reduced energy and labor costs, and minimized environmental impact. By enabling more precise and controlled water management, precision irrigation helps farmers achieve better outcomes while promoting sustainable agricultural practices.
What Factors Are Driving the Growth in the Precision Irrigation Market?
The growth in the precision irrigation market is driven by several factors. The increasing awareness of water scarcity and the need for sustainable water management in agriculture are significant drivers, as precision irrigation offers a solution to optimize water use and reduce wastage. Technological advancements that enhance the accuracy, efficiency, and automation of irrigation systems are also propelling market growth. The rising demand for higher crop yields and quality, particularly in regions with limited water resources, is further boosting the adoption of precision irrigation.
Additionally, government initiatives and subsidies promoting water conservation and the use of advanced agricultural technologies are contributing to market expansion. The growing adoption of smart farming practices and the integration of IoT and data analytics in agriculture are further driving the demand for precision irrigation systems. These factors, coupled with the continuous innovation in irrigation technologies, are driving the sustained growth of the precision irrigation market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Crop-based Application segment, which is expected to reach US$3.6 Billion by 2030 with a CAGR of a 4.6%. The Non-crop-based Application segment is also set to grow at 3.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $818.5 Million in 2023, and China, forecasted to grow at an impressive 7.3% CAGR to reach $861.7 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Precision Irrigation Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Agsmart Pty Ltd., EPC Industrie' Ltd., Grodan (ROCKWOOL B.V.), and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 294 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3 Billion |
| Forecasted Market Value (USD) by 2030 | $4.1 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Precision Irrigation - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Increasing Adoption of Smart Agriculture Practices Propels Market Growth
- Technological Advancements in Irrigation Systems Enhance Efficiency
- Rising Water Scarcity Issues Strengthen Business Case for Precision Irrigation
- Growing Awareness of Sustainable Farming Practices Drives Adoption
- Integration of IoT and Sensors in Irrigation Systems Throws the Spotlight on Innovation
- Rising Demand for High-value Crops Spurs Market Dynamics
- Climate Change Impact Accelerates Demand for Efficient Water Management Solutions
- Expansion of Precision Agriculture Market Boosts Precision Irrigation Adoption
- Focus on Reducing Water and Fertilizer Wastage Sustains Market Growth
- Adoption of AI and Machine Learning in Irrigation Enhances Market Prospects
- Growing Agricultural Output in Emerging Economies Expands Market Reach
- Focus on Improving Crop Yield and Quality Drives Market Dynamics
FOCUS ON SELECT PLAYERS (Total 42 Featured):
- Agsmart Pty Ltd.
- EPC Industrie' Ltd.
- Grodan (ROCKWOOL B.V.)
- Jain Irrigation Systems Ltd.
- Lindsay Corporation
- Nelson Irrigation Corporation
- Netafim Ltd.
- Rain Bird Corporation.
- Rivulis Irrigation Ltd.
- The Toro Company
- T-L Irrigation Company
- Valmont Industries, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5wouug
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