Meticulous Research®, a prominent global market research firm, has released a report titled ‘Smart Irrigation Market by Type (Weather Based, Soil Moisture Based), Component (Monitoring, Controlling, Connectivity, Software), Irrigation Type (Sprinkler, Drip, Surface, Pivot), End Use, and Geography - Global Forecast to 2030.’
According to the latest report by Meticulous Research®, the smart irrigation market is forecasted to reach $10.2 billion by 2030, with a compound annual growth rate (CAGR) of 22.4% from 2023 to 2030. This growth is attributed to several factors including the growing emphasis on water efficiency and conservation, the implementation of government policies promoting sustainable agriculture and efficient water resource management, and the increasing demand for soil moisture monitoring across various sectors such as agriculture, landscaping, and gardening. Furthermore, the integration of technologies such as IoT sensors, Wi-Fi, and GPS in irrigation controllers, as well as the rising adoption of weather and sensor-based controllers, are anticipated to provide significant growth opportunities in this market.
Nevertheless, the market growth faces hindrances due to the expensive installation costs associated with smart irrigation systems. Moreover, the inadequate water infrastructure in developing nations presents a significant challenge to market expansion.
Meticulous Research® has categorized this market into segments based on type, component, irrigation type, end use, and geography to facilitate thorough analysis. The report also assesses competitors within the industry and scrutinizes market dynamics at both regional and national levels.
Based on type, in 2023, the smart irrigation market is divided into weather-based irrigation and soil moisture-based irrigation segments. The soil moisture-based irrigation segment is anticipated to hold the largest market share. This method involves the utilization of sensors or similar technology to gauge the soil's moisture levels, enabling adjustments to irrigation schedules or volumes for optimal water usage and plant health. The segment's dominance is attributed to various factors including its cost-effectiveness, ease of use, ability to provide extensive moisture readings with continuous measurements at specific locations, and durability spanning multiple seasons. Smart sensor-based irrigation technology, which relies on soil moisture data to determine irrigation requirements, is suitable for both small residential and large-scale managed landscapes.
Based on irrigation type, in 2023, the smart irrigation market is categorized into segments including sprinkler irrigation, drip irrigation, surface irrigation, pivot irrigation, and others. The sprinkler irrigation segment is projected to dominate the market. This dominance is primarily due to its increasing adoption in both agricultural and non-agricultural settings. Factors such as population growth, urbanization, and the expanding number of lawns, gardens, and sports fields contribute to the widespread use of sprinkler irrigation controllers for managing turf and grass irrigation.
Nevertheless, the drip irrigation segment is forecasted to experience the most significant compound annual growth rate (CAGR) throughout the projected period. Drip irrigation controllers are particularly well-suited for cultivating food crops due to their affordability and efficient water usage capabilities. Additionally, drip irrigation has the potential to boost crop yields by as much as 90% when compared to traditional irrigation methods.
Based on component, in 2023, the smart irrigation market is divided into segments comprising monitoring components, controlling components, connectivity, and software. The monitoring components segment is projected to hold the largest market share. This dominance is credited to the growing utilization of diverse sensors for regulating and managing plant irrigation requirements based on soil and weather conditions. These sensors facilitate substantial water conservation by leveraging precise data on soil and plant conditions, offering extensive moisture readings through continuous measurements at specific sites, and boasting longevity across multiple seasons.
Based on end use, in 2023, the smart irrigation market is categorized into agricultural and non-agricultural segments. The non-agricultural segment is projected to hold the largest market share. This dominance is attributed to the prevalence of numerous golf courses, sports grounds, lawns, and gardens, particularly in developed nations, along with the growing adoption of irrigation controllers to ensure adequate water supply to these areas. Smart irrigation controllers equipped with Wi-Fi capabilities and smartphone application management have witnessed increased popularity in non-agricultural sectors. Moreover, these technologically advanced devices simplify and optimize water management for field maintenance, whether for a single sports field or multiple ones.
Based on geography, in 2023, the smart irrigation market is segmented into regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is anticipated to hold the largest market share. This dominance is credited to factors such as the rising demand for lawn and garden equipment, the prevalence of numerous golf courses, sports grounds, lawns, and gardens, particularly in developed nations, and the increased adoption of irrigation controllers to guarantee sufficient water supply to these areas.
The Asia-Pacific region is expected to experience the most significant compound annual growth rate (CAGR) according to forecasts. This expansion primarily stems from the increasing uptake of contemporary irrigation methods in developing nations, robust government backing, rapid population expansion, growing necessity to boost crop yields while reducing water waste, heightened farmer awareness regarding the advantages of irrigation controllers, and a growing emphasis on curbing water wastage.
Key Players:
Major companies in the smart irrigation market include Netafim Ltd. (Israel), The Toro Company (U.S.), Lindsay Corporation (U.S.), Rain Bird Corporation (U.S.), Valmont Industries, Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), Mottech Water Solutions Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Rachio, Inc. (U.S.), Holman Industries (Australia), Orbit Irrigation Products, Inc. (U.S.), HydroPoint Data Systems, Inc. (U.S.), Weathermatic (U.S.), Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel), and Calsense (U.S.).
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Key Questions Answered in the Report:
• What are the market segments experiencing significant growth in terms of type, component, irrigation type, end use, and geographic location?
• What is the past market size of smart irrigation systems?
• What are the projected market forecasts and estimations for the period spanning from 2023 to 2030?
• What are the primary factors propelling, offering opportunities for, and presenting challenges to the smart irrigation market?
• Who are the key players, and what is their market share in the smart irrigation market?
• How would you describe the competitive environment?
• What are the latest significant advancements or events in the smart irrigation market?
• How do major players in this market approach their strategies?
• What are the prominent geographical patterns and countries experiencing substantial growth?
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