$480M Smart Irrigation Controllers Market, Forecast to 2024: Focus on Type (Weather-Based & Soil-Based), End-user Industry (Agriculture & Non-Agriculture) and Region

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Feb 05, 2020, 14:30 ET

DUBLIN, Feb. 5, 2020 /PRNewswire/ -- The "Global Smart Irrigation Controllers Market: Focus on Type (Weather-Based and Soil-Based), End-User Industry (Agriculture and Non-Agriculture), and Region - Analysis and Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.

According to the report, the smart irrigation controllers market was estimated at $207.6 million in 2018 and is expected to reach $480.19 million by 2024. The market is projected to witness the compound annual growth rate of 15% during the forecast period from 2019 to 2024. The market growth is largely attributed to the increasing demand for water conservation, smart agricultural practices, and demand for precision agriculture across the globe.

With the introduction of IoT, the agriculture industry is undergoing a revolution in the coming years. The integration of sensors in traditional irrigation controllers has led to a proper analysis of a large amount of weather and soil data. With the help of software to provide landscape owners and growers with information to manage the water demand and the corresponding schedules. Earlier, the use of smart irrigation controllers was limited; however, with rapid advancements in technology, the applications of smart irrigation controllers have gradually increased.

Additionally, the use of smart irrigation was only prevalent in developed countries. However, developing countries have also realized their importance. In countries such as China and India, the wide-scale use of smart irrigation controllers has led to the rapid adoption of smart irrigation solutions. The governments of several countries have realized the need and advantages of these technologies, and thus, their initiatives to promote smart irrigation is expected to further drive the growth in the market.

Initiatives are taken by the various governments to promote water conservation across the globe, increase in the farming operational cost coupled with the growing demand of smart irrigation solutions to enhance farm productivity, are the factors supporting the growth of smart irrigation controllers. Smart agriculture solutions such as smart irrigation can help in achieving this demand by optimizing agricultural practices, minimizing waste, conserving water, and providing timely agricultural advisory.

The result of the emerging strategies and developments are already surging the market in the form of product launches and developments since 2016. The majority of the companies preferred entering into mergers and acquisitions to enhance their presence, while the relatively less adoptive strategies comprised business expansions, and partnerships, collaborations, and joint ventures. For instance, in March 2019, Rain Bird Corporation launched a new DIY in-ground sprinkler with click-n-go hose connect. In March 2018, Rachio Inc., a smart sprinkler company delivering easy-to-use technology to improve residential irrigation efficiency, launched Rachio 3 Smart Sprinkler Controller and Rachio 3 Wireless Flow Meter in its water management product portfolio.

This report is a meticulous compilation of research on more than 100 players in the smart irrigation controllers ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also profiles 20+ leading companies across the supply chain. Key profiles include Valmont Industries, Lindsay Corporation, The Toro Company, Hunter Industries, Rain Bird Corporation, HydroPoint Data Systems, Netafim, Rachio Inc., Weathermatic, Green IQ, and Nelson Irrigation, among others.

Key Questions Answered in the Report

What is the global smart irrigation controllers market size in terms of revenue, and what is the expected growth rate during the forecast period 2019-2024?
What are the major driving forces that are expected to increase the demand for the market during the forecast period?
What are the key trends and opportunities influencing the growth of the market?
What are the major challenges inhibiting the growth of the global smart irrigation controllers market?
How much revenue is expected to be generated by different segments of the market during the forecast period from 2019-2024, on the basis of type, including weather-based controllers and soil-based controllers end-user Industry including agriculture and non-agriculture industry region, including North America, Asia-Pacific (APAC), Europe, and Rest-of-the-World (ROW)
What is the competitive strength of the key players in the smart irrigation controllers market on the basis of analyses of their recent developments, product offerings, and regional presence?

Key Topics Covered
Executive Summary

1 Market Dynamics
1.1 Market Drivers
1.1.1 Increasing Demand for Water Conservation
1.1.2 Increasing Government Initiatives and Investments
1.1.3 Growth in Adoption of Smart Agriculture Practices
1.2 Market Restraints
1.2.1 High Technological Costs and Limited Technical Knowledge and Skills
1.2.2 Lack of Standardization in the Smart Irrigation Industry
1.3 Market Opportunities
1.3.1 Data Management of Farms With the Help of Big Data
1.3.2 Advancement in Communication Technologies

2 Competitive Landscape
2.1 Key Market Developments and Strategies
2.1.1 Product Launches and Developments
2.1.2 Mergers and Acquisitions
2.1.3 Business Expansion and Contracts
2.1.4 Partnerships, Collaborations, and Joint Ventures
2.1.5 Others (Awards and Recognitions)
2.2 Competitive Benchmarking

3 Industry Analysis
3.1 Patent Analysis
3.1.1 Patent Analysis by Status
3.2 Pricing Trends
3.3 Investment and Funding Landscape
3.4 Opportunity Matrix

4 Global Smart Irrigation Controllers Market (by Type)
4.1 Assumptions and Limitations for Analysis and Forecast of the Global Smart Irrigation Controllers Market
4.2 Market Overview
4.3 Weather-Based Controllers
4.4 Soil- Based Controllers

5 Global Smart Irrigation Controllers Market (by End-user Industry)
5.1 Market Overview
5.2 Agriculture Industry
5.3 Non-Agriculture Industry

6 Global Smart Irrigation Controllers Market (by Region)
6.1 North America
6.1.1 North America (by End-user Industry)
6.1.2 North America (by Country)
6.1.2.1 U.S.
6.1.2.2 Canada
6.1.2.3 Mexico
6.1.2.4 Rest-of-North America
6.2 Asia-Pacific (APAC)
6.3 Europe
6.4 Rest-of-the-World (RoW)

7 Company Profiles
7.1 Overview
7.2 Calsense
7.2.1 Company Overview
7.2.2 Role of Calsense in Irrigation Smart Irrigation Controllers Market
7.2.3 SWOT Analysis
7.3 Galcon Ltd.
7.4 Holman Industries
7.5 Hunter Industries
7.6 HydroPoint Data Systems Inc.
7.7 K-Rain Manufacturing Corporation
7.8 Lindsay Corporation
7.9 Nelson Irrigation Corporation
7.10 Netafim
7.11 Rachio Inc.
7.12 Rain Bird Corporation
7.13 TevaTronic Ltd.
7.14 The Toro Company
7.15 Valmont Industries Inc.
7.16 Weathermatic

For more information about this report visit https://www.researchandmarkets.com/r/9s9i0y

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