Dublin, March 31, 2022 (GLOBE NEWSWIRE) -- The "Smart Irrigation Market - A Global and Regional Analysis: Focus on Application, Product, and Country-Wise Analysis - Analysis and Forecast, 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global smart irrigation market was estimated to be at $1.26 billion in 2020, which is expected to grow with a CAGR of 13.69% and reach $2.75 billion by 2026.
The growth in the global smart irrigation market is expected to be driven by increasing demand for sustainability and increased mechanization and automation in agriculture industry.
Irrigation, often known as watering, is the agricultural practice of applying controlled measures of water to land to aid in the growth of crops, as well as to produce landscaping plants and lawns.
Smart irrigation process helps in automating the irrigation procedure and reducing the water use which ultimately reduces the irrigation cost, gives better understanding of the soil and crop moisture content, timely notifications of the abnormalities in soil, good long- term health of the landscape.
The smart irrigation market is at a growth phase. Agricultural consumes more than 50% of the water for irrigation. Therefore, as an acceptable solution, there is a need to reduce agricultural water use by utilizing water in the right quantities. Internet-based software systems provide a cost-effective approach to water management, thereby promoting the global smart irrigation market.
Impact of COVID-19
Due to the COVID-19 pandemic, the shortage in staff availability in the industry has resulted in the introduction of smart irrigation systems worldwide. However, it has also helped understand the value of smart irrigation due to people's concern for food security, poverty, and global economic impact. Therefore, smart irrigation practitioners have responded positively to this crisis, and therefore, the global smart irrigation market is anticipated to bounce back more robustly in the future.
Market Segmentation
- Application - Agricultural and Non-Agricultural
- Component - Controller, Sensor, Water Flow Meter, and Others
- System - Weather-Based Controller System and Sensor-Based Controller System
- Business Model - Irrigation-as-a-Product and Irrigation-as-a-Service
Regional Segmentation
- North America - U.S., Canada, and Mexico
- South America - Argentina, Brazil, Peru, and Rest-of-South America
- Europe - Germany, France, Italy, Netherlands, Spain, Denmark, and Rest-of-Europe
- U.K.
- Middle East and Africa - Israel and Rest-of-Middle East and Africa
- China
- Asia-Pacific - India, Japan, Australia, South Korea, and Rest-of-Asia-Pacific
Market Growth Drivers
- Increased Government Initiatives to Promote Water Conservation
- Increased Mechanization and Automation in Agriculture Industry
- Decreasing Cost of Components
Market Challenges
- High Initial Infrastructure Cost
- Lack of Technical Knowledge and Skills
Market Opportunities
- Growth in 5G Network for Remote Monitoring
- Growing Adoption of Modern Technologies across Different Regions
- Expansion of Augmented Reality Applications across Farming Operations
Key Companies Profiled
Banyan Water, Inc., CALSENSE, Galcon, Hunter Industries, HydroPoint, Jain Irrigation Systems Ltd., Netafim, Orbit Irrigation Products LLC, Rachio inc., Rain Bird Corporation, RainMachine - Green Electronics LLC, Scotts Irrigation & Landscaping, Skydrop, Stevens Water Monitoring System Inc., The Toro Company
Key Questions Answered in the Report
- What is the estimated global smart irrigation market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
- What are the key trends, market drivers, and opportunities in the market about the smart irrigation market?
- What are the major restraints inhibiting the growth of the global smart irrigation market?
- What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
- What is the competitive strength of the key players in the smart irrigation market based on the analysis of their recent developments, product offerings, and regional presence?
- What is the competitive benchmarking of the key smart irrigation companies in the agriculture market based on the analysis of their market coverage and market potential?
- What is the market share analysis in each segment expected to record during the forecast period, along with the growth percentage?
- What is the type of players operating in the market ecosystem of smart irrigation, and what is their significance in the global market?
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Market Definition
1.1.2 Trends
1.1.2.1 Sustainable and Renewable Water Management
1.1.2.2 Integration of Wireless Technologies
1.1.2.3 Supporting Government Incentives
1.1.2.4 Fertigation
1.1.3 Supply Chain Analysis
1.1.4 Ecosystem
1.1.4.1 Consortiums and Associations
1.1.4.2 Government Initiatives Landscape
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increased Government Initiatives to Promote Water Conservation
1.2.1.2 Increased Mechanization and Automation in Agriculture Industry
1.2.1.3 Decreasing Cost of Components
1.2.2 Business Challenges
1.2.2.1 High Initial Infrastructure Cost
1.2.2.2 Lack of Technical Knowledge and Skills
1.2.3 Business Opportunities
1.2.3.1 Growth in 5G Network for Remote Monitoring
1.2.3.2 Growing Adoption of Modern Technologies across Different Regions
1.2.3.3 Expansion of Augmented Reality Applications across Farming Operations
1.2.4 Business Strategies
1.2.4.1 Product Development
1.2.4.2 Market Development
1.2.5 Corporate Strategies
1.2.5.1 Merger and Acquisition
1.2.5.2 Partnership, Collaboration, and Joint Venture
1.2.5.3 Others
1.2.6 Impact of COVID-19 on the Global Smart Irrigation Market
2 Application
2.1 Global Smart Irrigation Market (by Application)
2.1.1 Agricultural
2.1.1.1 Open Field
2.1.1.2 Plant Factory
2.1.2 Non-Agricultural
2.1.2.1 Residential
2.1.2.2 Golf Course and Sports Ground
2.1.2.3 Turf and Landscape
2.2 Demand Analysis of the Global Smart Irrigation Market (by Application)
2.3 Demand Analysis of the Global Smart Irrigation Market (by Agricultural)
2.4 Demand Analysis of the Global Smart Irrigation Market (by Non-Agricultural)
3 Products
3.1 Global Smart Irrigation Market (by Product)
3.1.1 Global Smart Irrigation Market (by Component)
3.1.1.1 Controller
3.1.1.2 Sensor
3.1.1.2.1 Soil Moisture Sensor
3.1.1.2.2 Rain Sensor
3.1.1.2.3 Temperature Sensor
3.1.1.2.4 Others
3.1.1.3 Water Flow Meter
3.1.1.4 Others
3.1.2 Global Smart Irrigation Market (by System)
3.1.2.1 Weather-Based Controller System
3.1.2.2 Sensor-Based Controller System
3.1.3 Global Smart Irrigation Market (by Business Model)
3.1.3.1 Irrigation-as-a-Product
3.1.3.2 Irrigation-as-a-Service
3.2 Demand Analysis of Global Smart Irrigation Market (by Product)
3.2.1 Demand Analysis of Global Smart Irrigation Market (by Component)
3.2.2 Demand Analysis of Global Smart Irrigation Market (by System)
3.3 Patent Analysis
3.3.1 Patent Analysis (by Status)
3.3.2 Patent Analysis (by Organization)
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Market Share Analysis
5.2.1 Market Share Analysis of Global Smart Irrigation Companies
5.3 Company Profiles
5.3.1 Banyan Water, Inc.
5.3.1.1 Company Overview
5.3.1.1.1 Role of Banyan Water, Inc. in the Global Smart Irrigation Market
5.3.1.1.2 Product Portfolio
5.3.1.2 Business Strategy
5.3.1.2.1 Acquisitions
5.3.1.3 Strength and Weakness of Banyan Water, Inc.
5.3.2 CALSENSE
5.3.2.1 Company Overview
5.3.2.1.1 Role of CALSENSE in the Global Smart Irrigation Market
5.3.2.2 Product Portfolio
5.3.2.3 Strengths and Weakness of CALSENSE
5.3.3 Galcon
5.3.3.1 Company Overview
5.3.3.1.1 Role of Galcon in the Global Smart Irrigation Market
5.3.3.2 Product Portfolio
5.3.3.3 Strengths and Weaknesses of Galcon
5.3.5 Hunter Industries
5.3.5.1 Company Overview
5.3.5.1.1 Role of Hunter Industries in the Global Smart Irrigation Market
5.3.5.2 Product Portfolio
5.3.5.3 Strengths and Weaknesses of Hunter Industries
5.3.5 HydroPoint
5.3.5.1 Company Overview
5.3.5.1.1 Role of HydroPoint in the Global Smart Irrigation Market
5.3.5.2 Product Portfolio
5.3.5.3 Strengths and Weaknesses of HydroPoint
5.3.6 Jain Irrigation Systems Ltd.
5.3.6.1 Company Overview
5.3.6.1.1 Role of Jain Irrigation Systems Ltd. in the Global Smart Irrigation Market
5.3.6.2 Product Portfolio
5.3.6.3 Strengths and Weaknesses of Jain Irrigation Systems Ltd.
5.3.6.3.1 R&D Analysis
5.3.7 Netafim
5.3.7.1 Company Overview
5.3.7.1.1 Role of Netafim in the Global Smart Irrigation Market
5.3.7.2 Product Portfolio
5.3.7.3 Business Strategies
5.3.7.3.1 Product Development
5.3.7.4 Corporate Strategies
5.3.7.4.1 Collaborations and Alliances
5.3.7.4.2 Merger and Acquisition
5.3.7.5 Strengths and Weaknesses of Netafim
5.3.8 Orbit Irrigation Products LLC
5.3.8.1 Company Overview
5.3.8.1.1 Role of Orbit Irrigation Products LLC in the Global Smart Irrigation Market
5.3.8.2 Product Portfolio
5.3.8.3 Business Strategies
5.3.8.3.1 Product Development
5.3.8.4 Corporate Strategies
5.3.8.4.1 Merger and Acquisition
5.3.8.5 Strengths and Weaknesses of Orbit Irrigation Products LLC
5.3.9 Rachio inc.
5.3.9.1.1 Role of Rachio inc. in the Global Smart Irrigation Market
5.3.9.2 Product Portfolio
5.3.9.3 Strengths and Weaknesses of Rachio inc.
5.3.10 Rain Bird Corporation
5.3.10.1 Company Overview
5.3.10.1.1 Role of Rain Bird Corporation in the Global Smart Irrigation Market
5.3.10.2 Product Portfolio
5.3.10.3 Business Strategies
5.3.10.3.1 Product Development
5.3.10.4 Corporate Strategies
5.3.10.4.1 Partnership and Joint Venture
5.3.10.5 Strengths and Weaknesses of Rain Bird Corporation
5.3.11 RainMachine - Green Electronics LLC
5.3.11.1 Company Overview
5.3.11.1.1 Role of RainMachine - Green Electronics LLC in the Global Smart Irrigation Market
5.3.11.2 Product Portfolio
5.3.11.3 Strengths and Weaknesses of RainMachine - Green Electronics LLC
5.3.12 Scotts Irrigation & Landscaping
5.3.12.1 Company Overview
5.3.12.1.1 Role of Scotts Irrigation & Landscaping in the Global Smart Irrigation Market
5.3.12.2 Product Portfolio
5.3.12.3 Strengths and Weaknesses of Scotts Irrigation & Landscaping
5.3.13 Skydrop
5.3.13.1 Company Overview
5.3.13.1.1 Role of Skydrop in the Global Smart Irrigation Market
5.3.13.2 Product Portfolio
5.3.13.3 Strengths and Weaknesses of Skydrop
5.3.14 Stevens Water Monitoring System Inc.
5.3.14.1 Company Overview
5.3.14.1.1 Role of Stevens Water Monitoring System Inc. in the Global Smart Irrigation Market
5.3.14.2 Product Portfolio
5.3.14.3 Business Strategies
5.3.14.3.1 Acquisition
5.3.14.3.2 Partnership
5.3.14.4 Strengths and Weaknesses of Stevens Water Monitoring System Inc.
5.3.15 The Toro Company
5.3.15.1 Company Overview
5.3.15.1.1 Role of The Toro Company in the Global Smart Irrigation Market
5.3.15.2 Product Portfolio
5.3.15.3 Corporate Strategies
5.3.15.3.1 Partnership and Joint Venture
5.3.15.3.2 Merger and Acquisition
5.3.15.3.3 R&D Analysis
5.3.15.4 Strengths and Weaknesses of The Toro Company
5.3.16 Other Key Players
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/h0u8pd
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