VANCOUVER, B.C, July 28, 2021 /PRNewswire/ -- The global smart irrigation market size is expected to reach USD 2,877.9 Million by 2027 at a CAGR of 15.5%, according to a new report by Emergen Research. Major factors such as rapid advancements in the agricultural sector, increasing demand for good quality food, and rapidly expanding global population are driving global market revenue growth.
Smart irrigation is an advanced irrigation process that uses various components and controllers to monitor weather, plant water use, soil conditions, and adjusts watering schedule automatically according to actual conditions. Smart irrigation is an ideal method for controlled use of water. Factors such as rising concerns regarding water shortage across several countries, increasing penetration of IoT, and constant weather changes are boosting global market growth. High adoption of smart irrigation systems on golf courses, sports ground, forestry, and turf & landscape, increasing usage of automated irrigation systems in residential and commercial buildings is also fueling market growth.
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However, high initial investment, lack of skill sets, and limited knowledge about smart irrigation are some factors expected to hamper global smart irrigation market growth up to a certain extent during the forecast period.
Some key highlights in the report:
- Among the components segment, the controllers segment is expected to account for largest revenue growth during the forecast period. Availability of technologically advanced controllers, extensive usage of controllers in commercial farms, residential and commercial properties are key factors boosting segment revenue growth.
- Based on system types, the weather-based system segment is expected to account for significantly higher revenue growth over the forecast period. Increasing government initiatives for water conservation, automotive irrigation scheduling, continuous demand for food, and increasing global population are factors fueling market growth. Weather-based systems are deployed in golf courses, landscaping, and commercial buildings.
- Among the application segments, the agriculture segment is expected to register fastest revenue growth during the forecast period. Raid revenue growth is attributed to high adoption of sensing, monitoring, and smart irrigation devices, favorable water conservation plans initiated by government, high adoption of smart irrigation in open fields and greenhouses, and availability of smart irrigation controllers at low prices.
- North America is expected to account for largest market share throughout the forecast period owing to technological advancements in the agricultural sector, presence of large commercial farms, high adoption of IoT-based devices, and extensive usage of smart irrigation techniques in residential landscapes, farms, and golf courses.
- The smart irrigation market in Asia Pacific is expected to register fastest CAGR over the forecast period. Rapid revenue growth is attributed to factors such as increasing adoption of smart irrigation for various agricultural applications, favorable government initiatives for water conservation and ongoing research on developing advanced products and devices are key factors boosting Asia Pacific market growth.
- The Toro Company, Rain Bird Corporation, Netafim, Hunter Industries, HydroPoint Data Systems, Inc., Weathermatic, Rachio Inc., Manna Irrigation, Galcon, and Stevens Water Monitoring Systems are some major players operating in the global smart irrigation market.
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For the purpose of this report, Emergen Research has segmented the global Smart Irrigation Market on the basis of system type, component, application, and region:
System Type Outlook (Revenue, USD Billion; 2017-2027)
- Sensor-based system
- Weather-based system
Component Outlook (Revenue, USD Billion; 2017-2027)
- Water Flow Meters
- Wireless Communication Equipment
Application Outlook (Revenue, USD Billion; 2017-2027)
- Open field
- Golf Courses
- Sports Ground
- Turf & Landscapes
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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