According to a new market research report published by Credence Research “Smart Irrigation Systems (Sensors, Flow Meters, Smart Detection; Agriculture (Farms and Greenhouses), Non-agriculture (Sports Grounds, Landscapes & Turfs and Residential)) Market – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2022”, the global smart irrigation systems market stood at US$ 410 Mn in 2015 and is estimated to expand with a CAGR of 15.7% from 2016 to 2022.
Market Insights:
Smart irrigation refer to advanced irrigation systems that incorporate various sensors and network components for better efficiency. The traditional irrigation systems such as sprinklers and drip irrigation systems are connected with a network of sensors and smart detection devices. The prime motive behind the advent of smart irrigation systems is to enhance the overall water efficiency of irrigation systems. The sensor network is the most important component of the smart irrigation system and is designed to monitor various parameters including rain, soil moisture, temperature and water flow. Thus, the sensors segment accounts for the largest share, in terms of revenue, of the overall smart irrigation systems market.
The smart irrigation systems market is largely spurred by the rising population coupled with food requirement worldwide. According to the United Nations, the world population is expected to cross the 8 Bn mark by 2030. This would further result into higher food production. Consequently, the adoption of more efficient and convenient irrigation systems is expected to increase significantly in the coming years resulting into higher demand for smart irrigation systems. Nevertheless, the most significant hindrance for the market is the high cost of the smart irrigation network. As a result, these systems are currently used in non-agriculture segments such as residential, sports grounds and others.
The complete report is available at http://www.credenceresearch.com/report/smart-irrigation-systems-market
Competitive Insights:
Major companies operating in the smart irrigation systems market are Netafim Ltd., The Toro Company, Hunter Industries, Inc., Baseline, Inc. and others. The market is fragmented in nature with various players striving to provide smart irrigation systems. Most of the companies emphasize on developing advanced sensor networks and better remote operation. Companies also provide additional kits that can be incorporated in the existing irrigation systems making the overall ‘smart’ irrigation system. Majority of the smart irrigation system providers are located in North America.
Key Trends:
- Smart drip irrigation systems through chemigation and fertigation
- Smart sprinkler irrigation systems
- Focus on large untapped markets such as China and India
- Development of smarter sensor networks with precise moisture monitoring
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