VALLEY COTTAGE, New York, November 10, 2017 /PRNewswire/ --
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.
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SOURCE Future Market Insights