A smart irrigation system monitors weather, plant water use, soil conditions, and weather conditions. Smart irrigation provides useful and timely maintenance of various forms of methods, including soil, stream, middle pivot, sprinkler, and automatic to save energy and time. In particular, agriculturalists and farmers advocate smart irrigation technology on the premises in which they play a vital role in optimizing water usage. The primary motivation behind the introduction of such systems is to increase the cumulative irrigation systems water quality. Smart irrigation helps in reducing the cost of the users. The sensor network is the smart irrigation system’s most critical aspect since it tracks specific parameters. Such methods are planned only to have the quantity of water required for the crops, thereby eliminating wastage and improving yield.
The global smart irrigation market size was valued at USD 0.88 billion in 2019 and projected to reach USD 2.7 billion by 2027, growing at a CAGR of 15.04% during the forecast period of 2020-2027 due to the prevalence of IoT-based irrigation network design. Smart irrigation allows the reduction of irrigation costs with maximum use of the resource, which is predicted to fuel the market. In addition, the growing government policies to encourage water efficiency, extending the expense of farm activities, and raise the value of growing farm income through utilizing advanced irrigation systems are the key factors driving global demand development. Moreover, the new technologies joining the market for smart irrigation are expanding irrigation activities, thereby substantially improving agricultural goods. Farmers throughout the globe have rapidly implemented sensor-based technologies so that they can implement smart irrigation activities by integrating real-time data from the region under agriculture.
However, the lack of awareness regarding smart irrigation is projected to create an obstacle in the smart irrigation market’s growth.
The rising adoption of ICT support systems for decision-making is estimated to boost the global smart irrigation market across the globe at a significant rate. ICT-based decision support systems, coupled with real-time details, include granular-level knowledge across all locations of farming. Irrigated cultivation accounts for 20% of the global agricultural land and generates 40% of the worldwide food supply. The population is projected to grow over 10 billion by 2050, and by 2050 it is predicted that agricultural output would need to be broaden by around 70%. Water departments use technology, such as remote sensing and geographic information systems to map irrigation use and predict water quality. Smart irrigation involves advanced equipment, software, and resources used to collect real-time data and allow farmers to make successful farm-related decisions.
The Internet of Things (IoT) will play an essential role via site-specific irrigation control in improving farm production per acre level. IoT is by far the most reasonable method for monitoring and predicting critical factors, including water quality, relative humidity and humidity, and soil conditions affecting crop quality, yield, and yield. Approximately 70% of the world’s freshwater is often used in agriculture, although this would not be enough to maintain the rapidly increasing population in the coming decades. Nonetheless, recent advances in smart irrigation have offered farmers more efficient water conservation devices that can help optimize production and reduce overwatering. By using smart controls and sensors in farming and agricultural equipment, IoT-based smart irrigation delivers real-time data and analysis, allowing farmers or producers to take preventative action at a convenient timing. Smart irrigation practices based on IoT thus can improve the conventional irrigation technique by making it more productive and efficient.
The COVID-19 outbreak recently severely impacted the economic activities of developed and developing economies. The economic impact of COVID-19 is no doubt devastating. No industry has been able to avoid the effects of this. The introduction of COVID-19 has contributed to the supply chain challenges of agricultural environments and smart irrigation markets. New market vendors face harsh competition from well-established international vendors as they find it challenging to keep up with technological developments, quality, and reliability issues. The production of hardware machinery was disrupted and has impacted the businesses around the value chain of agriculture. Agricultural manufacturers are hit especially hard by producing yields that vary from one-third of the usual or total loss. However, due to less human involvement, the remote irrigation operations have been somewhat influenced by the pandemic. IoT technology is anticipated to experience higher demand during the forecast period by 2027. COVID-19 is further predicted to speed up the installation of IoT devices in farmlands around the globe in post-pandemic in order to maximize irrigation schedules with lower labor specifications throughout the field.
Based on the component, the global smart irrigation market is bifurcated into Controllers, Sensors, Water Flow Meters, and Others. The sensors segment is estimated to dominate the global market during the forecasted period of 2020-2027 across the globe due to numerous benefits in the agricultural sector, such as providing relevant information about the soil, temperature, and humidity.
However, the controller segment is estimated to have the fastest growth rate due to its wide usability in irrigation. Although controllers were already commonly used by large-scale commercial agriculture to regulate the irrigation process, they are relatively new to local producers and residential or commercial industries.
Based on the system type, the global smart irrigation market is classified into Weather-based System and Sensor-based System. The water-based system type segment is expected to hold the largest share by 2027 across the globe due to the growing focus towards the farm productivity coupled with the farm efficiency. Additionally, it changes the watering routine manually, depending on local environmental factors. However, as the environment cools off, it minimizes the cooling level, while requirement rises as it gets hot.
Based on the application, the global smart irrigation market segmented into Non-Agricultural and Agricultural. The agricultural segment projected to dominate the market over the forecasted period of 2020-2027 across the globe due to the propelling awareness about smart irrigation systems in the farmers. In addition, smart irrigation helps mount the farmers’ productivity, which is estimated to fuel the global market across at a significant rate.
However, the non-agricultural segment is expected to have a considerable growth rate by 2027 owing to the rising consciousness about the environment effects due to climate change, which led to fuel in the market.
By geography, the global smart irrigation market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to dominate the market due to the high adoption of the upgraded system and technology in smart irrigation across the region. The aspect has also caused the region’s usage of smart irrigation controllers, rendering it the most lucrative region.
However, Asia Pacific is projected to have the fastest growth rate followed by Europe by 2027 due to the overall demand development. In addition, the implementation of smart irrigation in such regions is growing at a fast rate rendering it a possible stream of profit for emerging players participating in the global smart irrigation industry.
Companies such as Weathermatic, AquaSpy, Toro Company, Caipos, Hunter Industries, Rain Bird Corporation, Netafim, HydroPoint, Banyan Water, Rain Machine, Rachio, ET Water, Blossom, Delta-T Devices, Galcon, Calsense, Soil Scout, Acclima, Skydrop, and Rain Machine are the key players in the global smart irrigation market.
By System Type