Pune, India, July 20, 2023 (GLOBE NEWSWIRE) — The global smart irrigation market size is expected to gain momentum owing to the rising demand for water conservation during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Smart Irrigation Market, 2023-2030.” The usage of the ET system, along with its utilization of water schedules for watering the plants and other analytical methods to assess the local temperatures is one of the key market trends. The technology equipped with a soil-based irrigation system utilizes the data drawn from local soil moisture and helps with the watering schedules, manages the irrigation demand upon data calculation using ground-attached sensors.
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List of Key Players Profiled in the Global Smart Irrigation Market:
- Rain Bird Corporation
- The Toro Company
- Netafirm
- Hunter Industries
- Hydro Point
Report Scope and Segmentation:
| Report Coverage | DETAILS |
| Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Smart Irrigation Market Growth Drivers | Increasing Demand for Water Conservation |
| High Installation Cost |
COVID-19 Impact-
Supply Chain Disruption to Hamper Growth
The smart irrigation market system is a profitable marketplace hampered by the COVID-19 pandemic which further caused all types of restrictive manufacturing and complete industrial perturbation across the countries. Due to nationwide lockdowns, social distancing norms, and, disruption in the global supply chain, most manufacturers witnessed a decline in the supply-demand of significant farming and irrigation materials which thereupon affected the market demand for smart irrigation market.
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Segments-
Based on component type, the market segregates into controllers, sensors, water flow meters, and others. Based on system type, the market bifurcates into weather-based systems and water-based systems. Based on application, the market further segments into non-agricultural, which subdivides into residential, turf and landscapes, golf courses, and others; and agricultural subdivides into greenhouses and open fields.
What does the Report Offer?
The market research report for smart irrigation wheel offers integrated information on:
- Key drivers
- Constraints
- Opportunities driving industry growth
- Growth drivers
- Key players
- Challenges and restrictions
- Important industrial developments
Drivers & Restraints-
Growing Preferences for Eco-Friendly Systems to Escalate the Market
The smart irrigation market growth is likely to expand, owing to the rising inclination towards the conservation of water. The usage of the ET system, along with its utilization of water schedules for watering the plants and other analytical methods to assess the local temperatures is one of the key market trends. The installation of the product has a wide number of advantages such as water conservation upon adjustment of water levels dependent on moisture in the soil, determination of preferred land for farming, creation of an eco-friendly and sustainable environment, improves efficiency by the usage of sensors upon smart detection of water routines, and reduces the utility cost are some of the major factors driving the market. However, the high installation cost may hinder the market.
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REGIONAL INSIGHTS-
Growing Needs for Latest Technologies to Foster the Market in North America
North America is likely to hold the dominant market share owing to the rising inclination towards innovative agricultural and non-agricultural usage technologies with lower manpower requirements for the irrigation of fields.
Asia Pacific is likely to hold the second-largest market due to their growing awareness about the new technologies, demand for water conversation, and expanding requirements for the development of sustainable irrigation facilities.
Competitive Landscape
Higher Investments by Industrialists to Strengthen Positions
The major players driving the market are making vast investments in different regions to refine their benefactions. Acquisition of business strategies such as sales contracts, strategic alliances, product approvals, procurement of technical expertise, patents and events, collaborations, joint ventures, partnership agreements, capacity utilization, and technological advancements are anticipated to lead the global market for smart irrigation.
Key Industry Development –
- March 2021: Toro declared its plans to acquire Left Hand Robotics Inc., a Colorado-based company. The company has intentions to utilize their acquisition for the development of autonomous solutions for the improvement of the operational efficiency of products manufactured by Toro.
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Read Related Insights:
Turf Protection Market Analysis and Geography Forecast till 2029-2029
Soil Amendment Market Size, Share and Analysis and Forecast 2023-2030
Soil Conditioners Market Size, Share, and Regional Forecast 2023-2030
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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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