Smart Irrigation Market Expected to reach $2.1 billion by 2025
The report "Smart
Irrigation Market by System Type (Weather-Based, Sensor-Based), Application
(Smart Greenhouse, Open Field, Residential, Golf Courses, Turf &
Landscape), Component (Controllers, Sensors, Water Flow Meters), and Geography
- Global Forecast to 2025", is estimated to be worth USD 1.0 billion
in 2020 and projected to reach USD 2.1 billion by 2025, at a CAGR of 15.3%. The
rapid growth of the smart irrigation market can be attributed to various
factors, such as the increasing adoption of smart irrigation devices, and
sensing and monitoring devices by farmers. It is also expected that the cost of
smart irrigation technology will decrease in the next couple of years, mainly
because of the declining prices of major hardware components. As a result, the
smart irrigation market is expected to witness high growth during the forecast
period. IoT device installations in agriculture farms around the world are
projected to witness a compound annual growth rate of 14%. COVID-19 is further
expected to accelerate the installation of IoT devices in agriculture farms
across the world to optimize irrigation scheduling with reduced labor
requirements in the field.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199758913
Controllers to hold largest market share during forecast
period
Controllers are expected to hold the largest market share
owing to the increasing adoption of these devices for automatic irrigation
scheduling in applications such as agriculture, residential and commercial
property, lawns and gardens, and landscaping. Smart controllers use weather and
sensor data to automatically adjust irrigation schedules to any environmental
changes. Smart controllers have additional features, such as multiple programs
to allow different watering frequencies for different types of plants, rain
delay settings, input terminals for sensors such as rain/freeze and soil
moisture, and remote operation.
Weather-based systems to hold largest market share
between 2020 and 2025
The weather-based systems holds the major market share as
compared to sensor-based type systems. Weather-based systems have become quite
popular among homeowners, commercial building contractors, and landscaping and
golf course managers. Owing to the high adoption of weather-based systems in
the agriculture, and non-agriculture segment, they account for a larger market
size. Major factors driving the growth of the smart irrigation market include
increasing government initiatives to promote water conservation, rising demand
for food production, and automatic scheduling of irrigation, leading to reduced
labor costs. In addition, the increasing importance
Non-agricultural application to account for larger share
of smart irrigation market in 2020
The growing importance of efficient watering practices and
irrigation solutions for nonagricultural applications, such as residential,
turf and landscape, and golf courses, is a major factor driving the growth of
this market. The increasing number of initiatives undertaken by various
governments to promote water conservation, decreasing the cost of smart
irrigation smart controllers, and growing the popularity of automated
irrigation solutions among residential and commercial land contractors are the
key factors driving the growth of this market. Further, the increasing rate of
replacement of conventional timer-based controllers with new smart irrigation
controllers by residential homeowners and contractors is another factor
contributing to the growth of the market.
Americas to hold largest share of smart irrigation market
during forecast period
The Americas is expected to hold the largest share of the
smart irrigation market during 2020–2025. Countries such as the US and Canada
in the Americas are the early adopters of smart irrigation technologies, which
is the major reason for the high market share of this region in the smart
irrigation market. The Americas has the highest number of smart irrigation
systems installed at farms, residential landscapes, and golf courses. Farmers
or growers in this region are increasingly adopting advanced irrigation systems
and equipment such as smart controllers, sensors, and water flow meters.
Request Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=199758913
Comments
Post a Comment