CHICAGO, Dec. 1, 2021 /PRNewswire/ -- According to the new research report, the "Smart Irrigation Market with COVID-19 Impact Analysis by System Type, Application (Greenhouses, Open-Fields, Residential, Golf Courses, Turf & Landscape), Component (Controllers, Sensors, Water Flow Meters), and Region - Global Forecast to 2026", published by MarketsandMarkets, is projected to grow from USD 1.2 billion in 2021 and is projected to reach USD 2.3 billion by 2026; it is expected to grow at a CAGR of 14.9 % from 2021 to 2026.
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The government initiatives for promoting water conservation has led to surge in the adoption of smart irrigation systems. In addition to this, factors such as growth of smart cities and need for efficient irrigation systems, decreasing cost of sensors and controllers used in smart irrigation systems are expected to fuel the smart irrigation market.
"Weather-based systems are expected to hold larger share of the smart irrigation market during forecast period"
The weather-based systems is expected to 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 non-residential 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 of effective irrigation solutions and watering practices has stimulated the smart irrigation market growth.
"Controllers held the largest share in the global smart irrigation market by component in 2020"
Controllers held the largest share for the smart irrigation market in terms of components owing to the increasing adoption of this technology for irrigation scheduling in 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 such as temperature, humidity, and soil moisture content. 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. The technological advancements in the development of controllers has lead to a rising adoption controllers. The controllers have been widely used by the large scale commercial farms to control the irrigation application but is reltively new to the small farms and for residential or commercial sectors. Over the past few years, the number of smart controller products on the market has increased dramatically, with different manufacturers opting for different control technology solutions.
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106 - Tables
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246 - Pages
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"Non-Agriculture application segment to dominate the smart irrigation market throughout forecast period"
The non-agriculture application segment is expected to dominate the smart irrigation market from 2021-2026. The growing importance of efficient watering practices and irrigation solutions for non-agriculture applications, such as residential, turf and landscape, and golf courses, is a major factor driving the growth of this market. There has been tremendous growth in the construction of smart homes or smart cities throughout the world. 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 non-agriculture application segment in the market.
"Americas to hold the largest share of smart irrigation market throughout forecast period"
Americas is expected to account for the largest share of the smart irrigation market during the forecast period. The Americas held the largest market share owing to the early adoption of smart irrigation technologies by countries such as the US and Canada. The Americas have the highest number of smart irrigation systems installed at farms, residential landscapes, and golf courses. This region is home to several major players in the smart irrigation market; some of these are The Toro Company (US), Hunter Industries (US), Rain Bird Corporation (US), HydroPoint (US), Rachio (US), Banyan Water (US), GroGuru (US), Orbit Irrigation Products (US) and Rain Machine (US). These companies have contributed to the growth of the smart irrigation market in the Americas by launching innovative products and services and spending extensively on the R&D of smart irrigation solutions.
Key players in the smart irrigation market include Rain Bird Corporation (US), The Toro Company (US), Hunter Industries (US), Netafim (Israel), HydroPoint (US), Manna Irrigation (Israel), Stevens Water Monitoring Systems (US), Galcon (Israel), Rachio (US), Weathermatic (US). Apart from these, Jain Irrigation Systems (India), Banyan Water (US), Delta-T Devices (UK), Calsense (US), Skydrop (US), AquaSpy (US), Soil Scout (Finland), Caipos (Austria), Acclima (US), Rain Machine (US) are among a few emerging companies in the smart irrigation market.
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