Global Smart Irrigation Market to 2023: Residential, Turf & Landscape, Agriculture, and Golf Courses to Drive Smart Irrigation Market Growth
DUBLIN, Sept. 27, 2018 /PRNewswire/ --
The "Smart Irrigation Market by System Type, Application, Component and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The smart irrigation market is estimated to be worth USD 825.0 million in 2018 and is projected to reach USD 1,755.1 million by 2023, at a CAGR of 16.30% from 2018 to 2023.
The major drivers for the smart irrigation market include initiatives undertaken by various governments to promote water conservation, surge in farming operating costs, and growing emphasis on increasing farm productivity and profits using smart irrigation solutions.
According to the United Nations 2016 report, the world population is expected to reach 9.3 billion by 2050, and its combined impact with urbanization and the rise of the middle class is bound to generate higher demand for healthy and sustainable food, which would require the current food production to double by 2050. Smart agtech solutions such as smart irrigation would prove instrumental in meeting this goal by optimizing agricultural practices, minimizing waste, developing climate resilience, and providing timely agricultural advisory.
The smart irrigation market has been segmented based on component, system type, application, and region. By component, the smart irrigation market has been classified into controllers, sensors, water flow meters, and others. Controllers are expected to hold the largest market size 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.
By system type, the smart irrigation market has been segmented into weather-based and sensor-based. Weather-based system is expected to hold a larger market size during the forecast period. This can be attributed to the increasing focus on farm efficiency and productivity. Weather-based systems have become quite popular among homeowners, commercial building contractors, and landscaping and golf course managers.
By application, the smart irrigation market has been segmented into agricultural and nonagricultural. Nonagricultural application is expected to hold a larger market size from 2018 to 2023. 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 reason for the larger market size of the nonagricultural application segment.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Smart Irrigation Market Growth
4.2 Smart Irrigation Market in APAC, By Application and Country
4.3 Smart Irrigation Market, By Component
4.4 Smart Irrigation Market, By System Type
4.5 Smart Irrigation Market, By Country (2018-2023)
5 Market Overview
5.1 Market Evolution
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Emergence of IoT and Convergence of Multiple Control Functionalities
5.2.1.2 Increasing Government Initiatives to Promote Water Conservation
5.2.1.3 Growth of Smart Cities and Need for Efficient Irrigation Systems to Fuel Smart Irrigation Controller Adoption
5.2.2 Restraints
5.2.2.1 Implementation of Smart Irrigation Technologies in Fragmented Land
5.2.2.2 High Technological Costs, and Limited Technical Knowledge and Skills Among Farmers
5.2.3 Opportunities
5.2.3.1 Continuous Advancements in Communication Technologies
5.2.3.2 Integration of Smartphones With Irrigation Controller and Software Applications
5.2.4 Challenges
5.2.4.1 Lack of Standardization in Smart Irrigation Industry
6 Industry Trends
6.1 Value Chain Analysis
6.1.1 Major Stakeholders in Smart Irrigation Market
6.2 Industry Trends
7 Smart Irrigation Market, By Component
7.1 Introduction
7.2 Controllers
7.3 Sensors
7.3.1 Rain/Freeze Sensors
7.3.2 Soil Moisture Sensors
7.3.3 Temperature Sensors
7.3.4 Wind Sensors
7.3.5 Fertigation Sensors
7.3.5.1 PH Sensors
7.3.5.2 EC Sensors
7.4 Water Flow Meters
7.5 Others
8 Smart Irrigation Market, By System Type
8.1 Introduction
8.2 Weather-Based Controller Systems
8.2.1 Types of Weather-Based Controllers
8.3 Sensor-Based Controller Systems
9 Smart Irrigation Market, By Application
9.1 Introduction
9.2 Agricultural
9.2.1 Greenhouse
9.2.2 Open Field
9.3 Nonagricultural
9.3.1 Residential
9.3.2 Turf and Landscape
9.3.3 Golf Courses
9.3.4 Others
10 Geographic Analysis
11 Competitive Landscape
11.1 Overview
11.2 Market Player Ranking Analysis (2017)
11.3 Competitive Situations and Trends
11.3.1 Product Launches
11.3.2 Agreements, Partnerships, and Contracts
11.3.3 Mergers and Acquisitions
12 Company Profiles
12.1 Key Players
12.1.1 Rain Bird Corporation
12.1.2 The Toro Company
12.1.3 Hunter Industries
12.1.4 Netafim
12.1.5 Hydropoint
12.1.6 Stevens Water Monitoring Systems
12.1.7 Galcon
12.1.8 Rachio
12.1.9 Weathersmatic
12.1.10 Banyan Water
12.2 Other Important Players
12.2.1 ET Water
12.2.2 Delta-T Devices
12.2.3 Calsense
12.2.4 Blossom
12.3 Start-Up Ecosystem
12.3.1 Skydrop
12.3.2 Aquaspy
12.3.3 Soil Scout
12.3.4 Caipos
12.3.5 Acclima
12.3.6 Rain Machine (Green Electronics)
For more information about this report visit https://www.researchandmarkets.com/research/7tctnq/global_smart?w=5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article