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Sep 13, 2019 11:40 AM ET

Smart Irrigation Market Projected to Grow at a CAGR of 15.92% During the Forecast Period Of 2019 To 2025


Smart Irrigation Market Projected to Grow at a CAGR of 15.92% During the Forecast Period Of 2019 To 2025

iCrowd Newswire - Sep 13, 2019

The significance of water is imperative and the demand and supply of fresh water are highly imbalanced. Henceforth, preserving water has become one of the highest priority for mankind. Simultaneously, the growth in technology is exuberant, so, the community is now using technology to solve such real-world issues. The advent of techniques such as machine learning, big data, internet of things, and artificial intelligence are subjected to provide effective solutions to these problems. Similar to water, the need for food is also paramount which leads us towards the agricultural industry. The agricultural industry uses a fairly large portion of fresh water during the irrigation process. Agricultural industry is trying to breed and inculcate smart irrigation techniques in the majority of the agriculture-based economies. Smart irrigation is a process which uses a combination of advanced technologies to monitor the irrigation process. For instance, a variety of sensors are employed for the monitoring aspects such as soil moisture, temperature, humidity, and rain. Smart irrigation is gaining popularity because this technology can save water and produce greater agricultural outputs. This technique is not limited to the agricultural sector, rather it finds application in the residential and commercial setups such as golf courses, parks, landscapes, and green fields. With such vast applications and noble cause to save water, the demand in the globalsmart irrigation marketis projected to grow at an above-average CAGR of 15.92% during the forecast period of 2019 to 2025, which held the market size of $861.23 million as of 2018.

View Full Table of Contents of Smart Irrigation Market:

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Americas Generating the Maximum Trade Globally

The Americas was the most lucrative region in the global smart irrigation market and held 36.15% of the total smart irrigation marketplace in 2018. The presence of some of the most economically strong nations such as North America and Canada are considered as the major contributors in the Americas smart irrigation market. Research and development efforts coupled with huge capital investments are augmenting the smart irrigation market growth. According to the United States Department of Agriculture (USDA), the food and agricultural industry in the U.S. contributed $1,053 trillion to the country’s GDP in 2017. As per the Census of Agriculture report from the USDA, more than 58 million acres of land was irrigated in the year 2017. The above statistics resonates the massive irrigation and food requirements in the United States. Evidently, the agricultural authorities in the region are investing substantial funding in the irrigation department. The Environmental Quality Incentives Program (EQIP) is a body that provides technical and financial assistance to the agricultural and forestry producers to achieve efficiency in production and address natural resource concerns such as improved water and air quality. So, the collective efforts from the government and the private organizations are advocating the increasing demands for smart irrigation in the region. A sustainable ecosystem to nurture the agricultural process is mandatory to manage the potential water scarcity in the future. Therefore, the agricultural industry in the region is subjected to continue investing in the smart irrigation process, thereby supporting the regional smart irrigation market. Additionally, the smart irrigation market is subjected to grow at a fast pace in the Asia-Pacific region as well. The presence of major agricultural driven countries such as India in Asia and Australia in the Pacific are creating opportunities for the global smart irrigation providers to develop a sustainable and efficient irrigation solutions.

Key Application of the Smart Irrigation Market

Undoubtedly, agriculture is the major application in the global smart irrigation market, the segment is estimated to grow at a CAGR of 18.75% during the forecast period. According to a report from the World Health Organization, 821 million people are currently facing scarcity of food, which means one in nine people are suffering from the food crisis as of the current decade. The hunger eradication goal under the United Nations Sustainable Development Goals is at risk with such statistics and addressing the shortage of food has become a difficult challenge to overcome globally. Additionally, the consistently increasing human population on the planet is creating huge demands for food, and the global population is rising at a significant pace, thereby, incrementing food requirements across the planet. According to the World Resource Institute, the global population will surpass 10 billion by 2050 which indicated that the food demands will increase by 56% of the current food demands. Numerous organizations such as the United Nations, Food and Agriculture Organization, World Economic Forum and other numerous government and private organizations are looking forward to a sustainable food future. Reserving the water to cater to global fresh water demands and producing food is an important factor driving the global smart irrigation market.

Top Trends in the Global Smart Irrigation Market

Water Audit: Water audit is a process flourishing concurrently with improved agricultural technologies is a process or a research carried out on the condition of the soil, the crop to be harvested, and weather conditions. Addressing the agricultural land needs with the help of technology is resulting in a much enhanced and efficient method for irrigation and is saving significant natural resources. Integrating this system can isolate potential water problems and create awareness to use the water effectively.

Progress in equipment designs: During irrigation, a considerate amount of water gets wasted and sometime leads to water-logging which results in crop damage. Irrigation OEMs are researching and producing advanced nozzles and drip irrigation equipment to optimize the irrigation process. These innovative equipment are gaining popularity rapidly in both the developing and developed economies.

Integration of advanced sensors: The crop-land is being equipped with sensors such as the wind sensor, rain flow sensor, humidity sensor, soil moisture sensor, and temperature sensors. These sensors generate and provide data which is further analyzed by leading agricultural experts to gain insights on the crop and the soil. Incorporating this technique is generating huge amounts of data, and the advanced big data, machine learning, and artificial technologies are being implemented on the derived data to achieve a sustainable and efficient smart irrigation model.

Smartphone Involvement: The prevailing widespread of the smartphone is being utilized for enhancing the irrigation processes. Smartphone device is being leveraged upon to establish smart irrigation controls through an application. Also, the smart irrigation manufacturers are researching to inculcate voice control functionality to control the irrigation equipment such that it provides communication via smart home systems through voice.

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Smart Irrigation Market Competitive Landscape

The companies influencing the smart irrigation market are Toro, Rain Bird, Galcon, Netafilm, Hunter Industries, Rachio, Weathersmatic, Hydropoint, Hortau, Orbit Irrigation, and Valmont.

Related Reports:

a) Micro-Irrigation System Market Analysis

https://www.industryarc.com/Report/15236/micro-irrigation-system-market.html

About IndustryARC:

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Smart Irrigation Market Projected to Grow at a CAGR of 15.92% During the Forecast Period Of 2019 To 2025






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