The global smart irrigation market
is intensely competitive, which is expected to up over the years, finds
Transparency Market Research (TMR). The pace of new product
developments and innovations in the global smart irrigation market
heavily influences the contours. A majority of players in the global
smart irrigation market consider spending on research and development
activities as a worthwhile strategy to strengthen theirs shares in the
global smart irrigation market. Top players in the global smart
irrigation market include Telsco Industries Inc., The Toro Company, Rain
Bird Corporation, Orbit Irrigation Products Inc., and Rachio Inc. The
growing number of mergers and acquisitions in the smart irrigation
market in various parts of the world is a key trend expected to escalate
competition.
The global smart irrigation market is
projected to reach a worth of US$2.32 billion by 2026 end. The market is
predicted to register at an impressive CAGR of 13.10% during 2017–2026.
Among the various types of components,
smart irrigation controller systems account for a prominent sales share
in the global smart irrigation market. The segment is expected to
account for a sales worth of US$900 Mn by 2026 end. The prominence is
attributed to the rising role of controller systems in smart irrigation.
On the regional front, Asia Pacific
excluding Japan (APEJ) is expected to rise at the most attractive
year-over-year growth over the assessment period. This is attributed to
the rapid uptake of various smart irrigation technologies in several of
it emerging economies.
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Growing Application of Smart Irrigation Technologies for Water Conservation catalyze Growth
The global smart irrigation market is
driven by the need for bringing advancements in food production in
various developing and developed regions. The intensifying need for
reducing the reliance of agriculturists on rainfall for water needs in
irrigation in developing economies has offered a big momentum to the
growing significance of such technologies. In addition, rising need for
minimizing excess water use in the agriculture sector is expected to
bolster the need for smart irrigation technologies. These technologies
enable agriculturists to monitor soil temperature and soil moisture,
which helps in correctly estimating water needs of plants. Furthermore,
the demand or smart irrigation systems is propelled by growing awareness
about several long-term benefits of smart irrigation on soil quality
and agricultural yield.
The global smart irrigation market is
expected to garner a large gain from the rising adoption of an array of
wireless communication systems and sensors. Constant technological
advances in networked sensors and microcontrollers used in smart
irrigation systems are anticipated to boost the market. Substantial
adoption among agricultural professionals world over is expected to
accentuate the growth.
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