Smart Irrigation Market to Grow with a CAGR of 14.20% through 2028
According to TechSci
Research report, “Smart Irrigation Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Smart
Irrigation Market stood at USD 1.62 billion in 2022 and is anticipated to grow
with a CAGR of 14.20% in the forecast period, 2024-2028. This can be attributed
to precision agriculture practices. The adoption of precision agriculture
practices has significantly contributed to the expansion of the smart
irrigation market. Precision agriculture leverages technology to optimize
various aspects of farming, including irrigation. Farmers can now tailor
irrigation schedules based on specific crop needs, soil conditions, and weather
forecasts, resulting in improved resource efficiency and crop yields.
Furthermore,
blockchain technology is making inroads into the smart irrigation market,
offering a secure and transparent platform for data sharing. This trend
addresses concerns related to data security and privacy by providing a
decentralized and tamper-resistant system. Blockchain can facilitate trust
among stakeholders and streamline data exchange, fostering collaboration in the
smart irrigation ecosystem.
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The Global Smart
Irrigation Market has been witnessing significant growth driven by the
increasing adoption of advanced technologies in agriculture and a growing need
for efficient water management. Smart irrigation systems utilize sensors,
weather data, and real-time monitoring to optimize water usage in agriculture,
landscaping, and other applications.
The
market has benefited from continuous advancements in sensor technologies, IoT
(Internet of Things), and data analytics. These technologies enable farmers and
land managers to make informed decisions about irrigation based on real-time
data.
With
increasing concerns about water scarcity, smart irrigation systems play a
crucial role in conserving water by delivering the right amount of water at the
right time, minimizing wastage.
The Global Smart
Irrigation Market is segmented into type, component, end use, regional distribution,
and company.
Based on its type,
Climate-based smart irrigation is poised to dominate the global smart
irrigation market for several compelling reasons. As climate change continues
to impact weather patterns and water availability, there is an increasing need
for precision in water management. Climate-based smart irrigation systems
leverage real-time weather data and environmental conditions to optimize
irrigation schedules, ensuring that water is used efficiently and responsibly.
This technology not only enhances water conservation efforts but also
contributes to substantial cost savings for businesses and farmers by reducing
water usage and energy expenses. Moreover, the scalability and adaptability of
climate-based systems make them suitable for diverse geographic locations and
agricultural practices. In a world where sustainability and resource efficiency
are paramount, climate-based smart irrigation emerges as a crucial solution
that aligns with global efforts to address climate challenges and secure the
future of agriculture. As stakeholders increasingly recognize the value of
smart and sustainable water management, the demand for climate-based solutions
is expected to surge, cementing its dominance in the evolving landscape of the
global smart irrigation market.
Based on end use,
Agriculture is poised to dominate as the primary end-use sector in the global
smart irrigation market for several compelling reasons. With the world's
population steadily rising and arable land becoming increasingly scarce, there
is a growing imperative to enhance agricultural productivity and optimize
resource utilization. Smart irrigation technologies offer a transformative
solution by providing farmers with real-time data and precision control over
irrigation processes. This enables them to tailor watering schedules based on
specific crop needs, soil moisture levels, and weather conditions, resulting in
improved yields and resource efficiency. The potential for substantial water
and energy savings, coupled with the ability to mitigate the impacts of climate
change on agriculture, positions smart irrigation as a crucial tool for
sustainable farming practices. As the agricultural sector continues to embrace
technological advancements to meet the challenges of a rapidly changing global
landscape, the demand for smart irrigation solutions is expected to surge,
solidifying agriculture's dominance as the primary end-use sector in the global
smart irrigation market.
Major companies
operating in Global Smart Irrigation Market are:
- Rain Bird Corp
- Toro Co/The
- Hunter Industries Inc
- ET Water Systems Inc
- HydroPoint Data Systems Inc
- Rachio Inc
- Stevens Water Monitoring Systems Inc
- Orbit Irrigation Products LLC
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“The upcoming
trends in the Global Smart Irrigation Market reflect a dynamic and innovative
landscape. From the integration of cutting-edge technologies like AI and IoT to
a focus on scalability and sustainability, these trends promise to redefine the
future of agriculture. As these advancements continue to unfold, the smart
irrigation market is set to play a pivotal role in addressing the challenges of
water scarcity, enhancing crop productivity, and fostering a more sustainable
and resilient global agricultural system,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Smart Irrigation Market By Type
(Climate Based, Sensor Based), By Component (Controllers, Sensors, Meters,
Others), By End Use (Agriculture, Golf Course, Residential, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Smart Irrigation Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Smart Irrigation Market.
Contact
Mr. Ken
Mathews
TechSci
Research LLC
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Lexington Avenue, Suite 300,
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