Smart Irrigation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026

Albany, NY -- (SBWire) -- 08/08/2018 --With an exponentially growing population, the number of mouths to feed is increasing rampantly every second, thus pushing the requirement for a massive amount of food crops in the agricultural sector. Besides rising population, changing lifestyles, highly evolving culinary industry, and development of food production technologies have also caused the agricultural sector to get altered phenomenally. And with enhanced agricultural practices, the demand for smart irrigation has witnessed a surge too, thus providing an impetus to the global smart irrigation market.

Taking into account the statistics, the global smart irrigation market is expected to clock revenue worth US$2.32 bn by the end of 2026. This is anticipated to happen by registering a spectacular CAGR of 14.6% during the forecast period from 2017 to 2026.

Advent of Technologies such as IoT to Ensure Bright Days for the Market
With favorable initiatives taken by several governments across the globe, the advent of smart irrigation market is expected to grow with leaps and bounds at least during the projected forecast period.

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The proliferation of IoT based devices is slowly visible in the irrigation sector, and this could just stoke the global smart irrigation market to witness an impressive progress.

Some prominent innovations propelling growth in this market are: smart monitoring, enhanced sensor technologies, development of automated systems, and other similar causes.

The need to control water distribution owing to rising water scarcity too has been responsible for making the global smart irrigation market expand at a rapid pace.

High Costs of Installing Smart Systems to Hamper Progress
However, in spite of all the positive news-bearing scenarios explained above, the global smart irrigation market is restrained due to a variety of factors.

Setting up smart systems to provide irrigation facilities is highly costly, and this might not be affordable for small agriculturists.

Moreover, costly irrigation facilities could in turn contribute towards high end-user service expenses, this discouraging those having less disposable income to progress in this field.

However, many companies are trying come up with cost effective solutions in terms of smart irrigation mechanisms, which is expected to offset the restraints up to a certain extent.

Competition to Intensify with Increasing Number of Businesses
Most players are heavily investing in research and developmental activities to gain notable traction in the global smart irrigation products market. With the number of new players entering this field expected to increase, the competitive intensity surely is anticipated to get a slight nudge to gain extensive growth.

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Many businesses are looking forward to usher in a great deal of growth in the global smart irrigation market.

With the face of agricultural projected to change thanks to this practice being highly prevalent in Asia Pacific, many players are establishing in emerging economies present in this region.

Such efforts taken by most players in the market is projected to highly intensify the competition existing in the global smart irrigation market substantially.

Orbit Irrigation Products Inc., Rain Bird Corporation, HydroPoint Data Systems, Inc., Netafim Ltd., Rachio Inc., Galcon Ltd., Blossom, Hunter Industries Inc., Telsco Industries Inc., The Toro Company, and Valmont Industries, Inc., are key businesses operating in the global smart irrigation market.