Smart Irrigation Market Expected to Reach USD 1.5 Billion by 2022
The smart irrigation market based on region is expected to reach USD 1,504.6 million by 2022 and grow at a CAGR of 17.2% during the forecast period. The major driving factors for the smart irrigation market are increasing demand for food production and increasing concern for water conservation.
“Non-agriculture held the largest share of the market segmented on the basis of application in the smart irrigation market in 2015”
Non-agriculture application includes residential, turf and landscape, golf course, and others. Measuring soil moisture and maintaining the right amount of water in the soil is important in the non-agricultural application as it helps to minimize the wastage of water and others resources.
“The market in Asia-Pacific is expected to grow at the highest CAGR in the smart irrigation market between 2016 and 2022”
The major drivers for the growth of the smart irrigation market in the APAC region include increasing shift of climatic conditions, reduction in the wastage of water, and others. Agriculture, turf and landscape, residential, landscaping and ground care are the preferred application areas for smart irrigation in this region.
“Weather-based controller held the largest share of the smart irrigation market segmented on the basis of irrigation controller in 2015”
It predefines the irrigation water requirement on the basis of weather conditions, soil type, slope, soil moisture, so as cut the wastage of water. It takes input on weather conditions and irrigates land accordingly.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key executives. The break-up of profile of primary participants is given below:
- By Company Type: Tier 1 – 20 %, Tier 2 – 45%, and Tier 3 – 35%
- By Designation: C-Level – 50%, Directors – 35%, and Others –15%
- By Region: North America – 49%, Europe – 17%, APAC –17%, and RoW – 17%
The geographic segmentation covers five major regions of the world, namely, North America, South America, Europe, Asia-Pacific, and Rest of the World (RoW). The major players in this market include Rain Bird Corporation (U.S.), The Toro Company (U.S.), Hunter Industries (U.S.), Netafim (Israel), and HydroPoint (U.S.).