Smart Irrigation Market Highlights 2018 – Industry Development by 2026, Detailed Analysis Research Report
Smart irrigation
is an advanced technology, which is majorly used in agriculture. It provides
the required amount of water needed for plants in a given period of time,
thereby reducing water wastage and achieving healthy growth of plants. Smart
irrigation is one of the best solutions for shortage of water, which is
expected to be a major problem in the coming years, owing to scarcity of water
reservoirs. Smart irrigation provides water to farms, as per the moisture and
soil type. Furthermore, it is used to provide uniform level of water to both
plain and sloppy areas, and to avoid overflow of water from these areas.
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Driving factors for Smart Irrigation Market
Increasing world
population is resulting in shortage of food & water, which has become a
major issue across various regions. This has boosted the adoption of efficient
replacement systems to preserve natural water reserves including smart
irrigation systems, which is highly profitable for farming operations.
Increasing use of upgraded technologies such as IOT devices and cloud computing
in agriculture field drives growth of smart irrigation market. This is due to
the Internet of Things (IoT) technology and solutions that are used to attain
improved operational efficiency, maximized yield, and minimum wastage by using
real-time field data collection and data analysis.
For instance,
according to Coherent Market Insights’ analysis, 20.25 billion was invested on
IoT units for agriculture sector in 2017 worldwide, which was 17.50 billion in
2016. Moreover, government initiatives to promote water conservation and use of
smart irrigation system in agriculture sector is fueling growth of the smart
irrigation market. For instance, the government of India aims to improve
groundwater harvesting and build water conservation and storage mechanisms
through Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
However, lack of
awareness of advanced technologies in smart irrigation and high cost associated
with installation and maintenance are major restraints affecting growth of the
smart irrigation market. Other factors that are expected to hinder the market
growth include excessive leakage in smart irrigation that might lead to
formation of ponds, which then becomes a dwelling place for insects and mosquitoes,
excessive leakage resulting in reduction of temperature, which makes the local
area damp, and lack of availability of skilled workforce for the operation of
smart irrigation system.
Regional analysis of Smart Irrigation Market
On the basis of
region, the global smart irrigation market is segmented into North America,
Europe, Asia Pacific, Latin America, Middle East, and Africa. North America
holds the largest market share in the global smart irrigation system, owing to
the presence of leading manufacturers of controllers, which are used in smart
irrigation systems in the region. Furthermore, North America focusses on the
use of water conservation solutions for which supportive infrastructure
development is being done in smart irrigation system.
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Asia Pacific is
expected to exhibit growth in the global smart irrigation market over the
forecast period due to increasing use of smart irrigation technology in
agriculture field to meet the growing demand for food in the region. For
instance, according to a report by the Asian Development Bank (ADB),
agriculture sector in Asia Pacific needs to produce around 60% more food
globally by 2050, to cater to the requirement of food for increasing
population.
Key players in Global Smart Irrigation Market
Key players
operating in the global smart irrigation market include Hydropoint Data System,
Rain Bird Corporation, Hunter Industries , Galcon, Weathermatic, Rachio, the
Toro Company, Calsense, Netafim, Baseline Inc., Aqua Spy, Libelium, and
Aquacell Systems.
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