What Is The Current and Historic Market Size Analysis Of The Smart Irrigation Market?
The smart irrigation market has seen considerable growth due to a variety of factors.
• The size of the smart irrigation market has expanded swiftly in the past few years. The forecast predicts that the market will increase from $1.86 billion in 2024 and will rise to its peak up to $2.16 billion in 2025, progressing at a 16.2% compound annual growth rate (CAGR).
The progressive increase in the historic period is due to factors such as water shortages, ecological issues, precision farming, legislative rules, city development, and landscape design.
What Are The Predictions for The Smart Irrigation Market Size In The Coming Years?
The smart irrigation market is expected to maintain its strong growth trajectory in upcoming years.
• In the following years, the smart irrigation market size is projected to experience accelerated growth, reaching $3.94 billion by 2029 with a compound annual growth rate (CAGR) of 16.2%.
This anticipated growth during the forecast period can be accredited to factors such as the effects of climate change, population expansion and food demand, water resource management, cost-reduction benefits, growing use in landscaping, and government initiatives. Key trends during this forecast period will encompass IoT and big data, technological progress, wireless connectivity, incorporation with weather data, remote observation and regulation, and industry-specific solutions.
Which Drivers Are Accelerating Growth In The Smart Irrigation Market?
The booming smart cities trend is playing a pivotal role in propelling the smart irrigation market forward in a significant way. One of the primary reasons behind this market's expansion is the rise in importance attached to effective watering solutions for uses beyond agriculture. With the global shift towards smart cities, there is a focus on managing water resources efficiently, both commercially and domestically. As an exemplar, in April 2023, the IMD Business School in Switzerland disclosed in their Smart City Index Report that there was a 16.3% hike in the number of smart cities, which escalated from 118 in 2021 to 141 in 2023. Consequently, the burgeoning growth of smart cities is aiding in the surge of the smart irrigation market.
What Are The Core Segments Of The Global Smart Irrigation Market?
The smart irrigation market covered in this report is segmented –
1) By Type: Climate-Based, Sensor-Based
2) By Technology: Evapotranspiration, Soil Moisture
3) By Component: Sensors, Controllers, Water Flow Meters, Software, Other Components
Subsegments:
1) By Climate-Based: Evapotranspiration Controllers, Weather-Based Irrigation Controllers, Climate Data Monitoring Systems
2) By Sensor-Based: Soil Moisture Sensors, Rain Sensors, Temperature Sensors, Flow Sensors
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Which Emerging Trends Are Reshaping The Smart Irrigation Market Size?
Leading enterprises active in the market are integrating new technologies like precision irrigation system to maintain their dominance. Precision irrigation represents an innovative and sustainable farming method that enables the right timing, location, and quantity for the application of water and essentials to crops. For instance, Viridix, an Israel-founded firm that specializes in irrigation solutions, rolled out Viridix's RooTense in April 2022, a new-gen precision irrigation system encompassing inventive AI-based autonomous features never seen before. This technology delivers live data and combines it with Viridix's proprietary AI-based software that amalgamates the RooTense data with external data from various sources and scrutinizes it for operational insights, thus permitting the system to form and implement autonomous decisions. This technology can empower both significant and small-scale farmers to yield more using less, courtesy of data-informed decisions, enhancements, and Auto-Pilot automation.
Who Are the Key Players in the Smart Irrigation Market?
Major companies operating in the smart irrigation market include:
• AquaSpy Inc.
• Calsense
• Galcon Ltd.
• Hunter Industries Inc.
• HydroPoint Data Systems Inc.
• Netafim USA
• Rachio Inc.
• Rain Bird Corporation
• Stevens Water Monitoring Systems Inc.
• The Toro Company
• Weathermatic Industries Inc.
• Banyan Water Inc.
• Caipos GmbH
• Delta-T Devices Ltd.
• Jain Irrigation Systems Ltd.
• Manna Irrigation Ltd.
• Orbit Irrigation Products LLC
• Soil Scout Oy
• Valmont Industries Inc.
• Nelson Irrigation Corporation
• Tucor Inc.
• Irritec S. p. A.
• Antelco Pty Ltd.
• Conserva Irrigation Holdings LLC
• WaterBit Inc.
• Hortau Inc.
• Ewing Irrigation & Landscape Supply Inc.
• Signature Control Systems Inc.
• Green IQ Ltd.
• Hortech Systems Ltd.
• Spraying Systems Co.
• Acclima Inc.
• HortControl LLC
What are the Regional Insights into the Smart Irrigation Market?
North America was the largest region in the smart irrigation market in 2024.The regions covered in the smart irrigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
