Pune, India, Jan. 31, 2022 (GLOBE NEWSWIRE) -- The global smart irrigation market is expected to value at USD 1150 million in 2021 and is expected to grow at a CAGR of 15.20% during the forecast period, according to a recent market study by Quince Market Insights. The government's efforts to promote water conservation have resulted in an increase in the use of smart irrigation systems. In addition, the smart irrigation market is predicted to be fuelled by factors such as the expansion of smart cities and the demand for efficient irrigation systems, as well as the lowering cost of sensors and controllers used in smart irrigation systems.
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Smart irrigation systems make use of modern technology such as sensors, controllers, sprinklers, and sensors to improve irrigation controller coverage. By automating irrigation systems using sensors, metres, and controllers, it aids in the monitoring of soil weather and water conditions. These are data-driven, cost-effective, and efficient. Because of the spectacular expansion in current agricultural techniques as well as greater popularity among non-agricultural uses, the use of smart irrigation systems has expanded tremendously.
Governments throughout the globe are focusing on utilising information and communication (ICT) technology to improve day-to-day operational performance and the quality of life in urban regions by investing in the creation of smart cities. The adoption of limited technical knowledge and abilities by small farms exacerbates budgetary issues due to increased installation costs. Furthermore, due to a lack of technical knowledge and other skills among end users, farmers are having difficulty running and controlling smart irrigation systems.
COVID 19 Impact on the Global Smart Irrigation Market
The beginning of the pandemic has enhanced the worldwide smart irrigation market's overall effect. Due to the lockdown, makers of electrical equipment and components like as temperature sensors have experienced a lack of raw materials and a labour shortage. Not only that, but the increasing usage of smartphones by the global population, particularly among young adults, has cleared the way for technical breakthroughs in a variety of fields, including agriculture. Furthermore, technical advancements in the telecom industry have assisted in the expansion of network connections as well as the client base of the organisation.
Global Smart Irrigation Market, by Component
Based on component, the global smart irrigation market is segmented into Sensors, Flow Meter, and Smart Detection System/Network Elements. Among these the sensor segment is witnessing the fastest market growth. This increase might be attributed to the increased usage of sensor-based irrigation systems in agriculture to conserve water and increase crop output. Sensor-based systems can analyse precise data from a variety of sensors in the field, including temperature, soil moisture, rain, and humidity sensors.
Global Smart Irrigation Market, by Irrigation Controller
Based on the irrigation controller, the global smart irrigation market is segmented into Weather-Based Controllers and Sensor-Based Controllers. The sensor-based controllers segment is witnessing the fastest market growth. The sensor market is being propelled ahead by a gradual shift in climatic circumstances, tightening environmental restrictions, and the growing desire to boost agricultural output. Similarly, rapid improvements in wireless technology are paving the way for the expansion of the business.
Global Smart Irrigation Market, by Application
Based on the application, the global smart irrigation market is segmented into Greenhouse, Open Field, Residential, Golf Courses, Turf & Landscape and Others. Among these, greenhouse segment is witnessing the fastest market growth. There is an increasing demand for high-quality food throughout the world, as well as government initiatives to save water and reduced prices for smart controllers and sensors. In agricultural applications, the demand for smart irrigation systems is growing.
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Global Smart Irrigation Market, by Region
Based on the region, the global smart irrigation market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Among these, Asia Pacific is witnessing the fastest market growth. APAC is known for its agriculture sector. As a result, the market's demand prospects are bright in the foreseeable term. In all these locations, rising demand is mostly due to increased R&D and energy efficiency. Smart irrigation controllers are being used at a quicker rate in residential areas as well. The rising adoption of remote sensing technology and the integration of IoT devices with smart phones in countries like India, China, and Australia are major driving factors for the growth of the smart irrigation market in the APAC region.
Some Significant Market Developments Considered in the Report:
- May 2021: The Toro Company (U.S.) bought Left Hand Robotics, Inc. (US). This acquisition will help Toro achieve its goal of being a pioneer in next-generation technologies including alternative energy, smart linked gadgets, and driverless vehicles.
- March 2021: Birla Carbons purchased Columbian Chemicals (U.S.), a US-based carbon black company, allowing it to become the world's largest producer.
Some Major Findings of the Global Smart Irrigation Market Include:
- Profiles of major market players operating in the global smart irrigation market include Rain Bird Corporation (U.S.), The Toro Company (U.S.), Hunter Industries (U.S,), Netafim (Israel), HydroPoint Data Systems, Inc. (U.S.), Baseline Inc. (U.S.), CALSENSE (U.S.), Rachio Inc. (U.S.), California Sensor Corporation (U.S.), and Weathermatic (U.S.)
- Impact of COVID-19 on the global smart irrigation market.
For more information on this topic please visit our website report titled, “Smart Irrigation Market, By Components (Sensors, Flow Meter, and Smart Detection System/Network Elements), By Irrigation Controller (Weather-Based Controllers and Sensor-Based Controllers), By Application (Greenhouse, Open Field, Residential, Golf Courses, Turf & Landscape, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)”— in-depth analysis along with the table of contents (ToC).
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