Smart Irrigation Market Shows Boosted Growth Rate in Forecast to 2026
Smart irrigation is an advanced technology, which is majorly used in agriculture. It provides the required amount of water needed for plants in a given period of time, thereby reducing water wastage and achieving healthy growth of plants. Smart irrigation is one of the best solutions for shortage of water, which is expected to be a major problem in the coming years, owing to scarcity of water reservoirs. Smart irrigation provides water to farms, as per the moisture and soil type. Furthermore, it is used to provide uniform level of water to both plain and sloppy areas, and to avoid overflow of water from these areas.
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Driving factors for Smart Irrigation Market
Increasing world population is resulting in shortage of food & water, which has become a major issue across various regions. This has boosted the adoption of efficient replacement systems to preserve natural water reserves including smart irrigation systems, which is highly profitable for farming operations. Increasing use of upgraded technologies such as IOT devices and cloud computing in agriculture field drives growth of smart irrigation market. This is due to the Internet of Things (IoT) technology and solutions that are used to attain improved operational efficiency, maximized yield, and minimum wastage by using real-time field data collection and data analysis.
For instance, according to Coherent Market Insights’ analysis, 20.25 billion was invested on IoT units for agriculture sector in 2017 worldwide, which was 17.50 billion in 2016. Moreover, government initiatives to promote water conservation and use of smart irrigation system in agriculture sector is fueling growth of the smart irrigation market. For instance, the government of India aims to improve groundwater harvesting and build water conservation and storage mechanisms through Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
However, lack of awareness of advanced technologies in smart irrigation and high cost associated with installation and maintenance are major restraints affecting growth of the smart irrigation market. Other factors that are expected to hinder the market growth include excessive leakage in smart irrigation that might lead to formation of ponds, which then becomes a dwelling place for insects and mosquitoes, excessive leakage resulting in reduction of temperature, which makes the local area damp, and lack of availability of skilled workforce for the operation of smart irrigation system.
Regional analysis of Smart Irrigation Market
On the basis of region, the global smart irrigation market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds the largest market share in the global smart irrigation system, owing to the presence of leading manufacturers of controllers, which are used in smart irrigation systems in the region. Furthermore, North America focusses on the use of water conservation solutions for which supportive infrastructure development is being done in smart irrigation system.
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Asia Pacific is expected to exhibit growth in the global smart irrigation market over the forecast period due to increasing use of smart irrigation technology in agriculture field to meet the growing demand for food in the region. For instance, according to a report by the Asian Development Bank (ADB), agriculture sector in Asia Pacific needs to produce around 60% more food globally by 2050, to cater to the requirement of food for increasing population.
Key players in Global Smart Irrigation Market
Key players operating in the global smart irrigation market include Hydropoint Data System, Rain Bird Corporation, Hunter Industries , Galcon, Weathermatic, Rachio, the Toro Company, Calsense, Netafim, Baseline Inc., Aqua Spy, Libelium, and Aquacell Systems.