COVID-19 Impact on the Global Smart Irrigation Market
Northbrook, IL -- (SBWIRE) -- 10/25/2020 -- The smart irrigation market is estimated to be USD 1.0 billion in 2020 and projected to reach USD 2.1 billion by 2025, at a CAGR of 15.3%. The government initiatives undertaken for water conservation, growing smart cities, and need for efficient irrigation system to fuel the growth of smart irrigation systems. Moreover, the rising investments in the agriculture technology sector have propelled the growth the growth for smart irrigation management systems.
Controllers were the most extensively used component in the global smart irrigation market in
Controller is an important component in the automated irrigation system. The technological advancements in the development of controllers has lead to a rising adoption controllers. The controllers have been widely used by the large scale commercial farms to control the irrigation application but is reltively new to the small farms and for residential or commercial sectors. Over the past few years, the number of smart controller products on the market has increased dramatically, with different manufacturers opting for different control technology solutions.
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Weather-based systems to hold larger market share during forecast period
The weather-based systems is expected to holds the major market share as compared to sensor-based type systems. Weather-based systems have become quite popular among homeowners, commercial building contractors, and landscaping and golf course managers. Owing to the high adoption of weather-based systems in the non-residential segment, they account for a larger market size. Major factors driving the growth of the smart irrigation market include increasing government initiatives to promote water conservation, rising demand for food production, and automatic scheduling of irrigation, leading to reduced labor costs. In addition, the increasing importance of effective irrigation solutions and watering practices has stimulated the smart irrigation market growth.
Americas helds the largest market for the smart irrigation in 2019 and is expected to dominate during the forecast period
Americas hold the largest market share in the global smart irrigation market and is expected to dominate the market during the forecast period. The adoption of smart irrigation systems in the region is due to the use of these systems in the large commercial farms and increasing use of weather-based and sebsor-based systems for non-agriculture applications. Farmers or growers in the Americas are increasingly adopting smart irrigation systems and IoT related devices such as controllers, sensors, water flow meters, and irrigation management software. The Americas have the highest number of smart irrigation systems installed at farms, residential landscapes, and golf courses. This region is home to several major players in the smart irrigation market; some of these are The Toro Company (US), Hunter Industries (US), Rain Bird Corporation (US), HydroPoint (US), Rachio (US), Banyan Water (US), and Rain Machine (US). These companies have contributed to the growth of the smart irrigation market in the Americas by launching innovative products and services and spending extensively on the R&D of smart irrigation solutions.
The smart irrigation market is dominated by a few globally established players such as Rain Brid Corporation (US), The Toro Company (US), Netafim (Israel), Hunter Industries (US) and HydroPoint (US).