Residential Segment to Zoom Ahead of Golf Courses in Non-Agriculture Smart Irrigation Controllers Market by 2027
Government Encouraging Water Saving Measures in Residential and Commercial Areas
Valley Cottage, NY -- (SBWire) -- 09/07/2018 --An Internet boom fuelled by cheap smartphones and improving LTE infrastructure have a direct impact on the non-agriculture smart irrigation controllers market as the products in the latter are often linked to the cloud. Furthermore, IoT and push towards 'smart homes' should benefit the non-agriculture smart irrigation controllers market that Future Market Insights has studied in its report 'Non-Agriculture Smart Irrigation Controllers Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027'. The non-agriculture smart irrigation controllers market is anticipated to be worth just under US$ 700 million by end 2027.
Region – North America Dominates Non-Agriculture Smart Irrigation Controllers Market
North America accounts for approx. half the global non-agriculture smart irrigation controllers market in 2017 and is expected to gain a massive 320 BPS over the duration of the decade. A large number of citizens in the US and Canada express an interest in IoT devices as the necessary infrastructure to install and deploy smart irrigation controllers is already in place. A survey conducted by PlumChoice – a provider of IoT technical service – showed that 79% of American consumers owned one smart gadget.
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Type – Standalone Controllers Key in Non-Agriculture Smart Irrigation Controllers Market
Immense potential exists in the standalone controller segment of the non-agriculture smart irrigation controllers market and companies would do well to take this into account. The standalone controller segment has a market attractiveness index of 5 and could generate a revenue of more than US$ 90 million in 2017 alone. Standalone controllers are predicted to witness steady growth over the course of the forecast period. However, a higher CAGR is expected in smart home controller segment allowing it to gain substantial BPS.
Application – Double Digit Jump in Residential Segment Share Makes it Lucrative Prospect
The residential segment is currently languishing in third place in the non-agriculture smart irrigation controllers market by application. Nonetheless, future prospects for this segment are bright as it is poised to record a double-digit spike in percentage terms, propelling it into pole position in the non-agriculture smart irrigation controllers market. The residential segment is estimated to record an exponential CAGR of 18.7% from 2017 to 2027 – considerably higher than the commercial and golf course segments in the non-agriculture smart irrigation controllers market.
Competition Dashboard in the Non-Agriculture Smart Irrigation Controllers Market
Future Market Insights has profiled companies actively involved in the non-agriculture smart irrigation controllers market. A few of them are Hunter Industries, The Toro Company, Skydrop, Scotts Miracle-Gro, GreenIQ LTD, Galcon, Rachio, Rain Bird Corporation, HydroPoint Data Systems, Weathermatic, Calsense, Orbit Irrigation Products, and KGControls LLC.
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Most companies in the non-agriculture smart irrigation controllers market have been involved in the manufacturing and marketing of traditional agricultural equipment and have minimal experience in smart devices. No company currently has a portfolio that covers all products and thus, companies that forge alliances or acquire start-ups offering smart home irrigation devices may gain a competitive edge in the non-agriculture smart irrigation controllers market. In addition to this, non-agriculture smart irrigation controller manufacturers will have to add a greater number of connectivity options as all devices have similar irrigation functionality.
About Future Market Insights
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI's research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
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