Business Opportunities in Farm's Data Management with the Help of Big Data
DUBLIN, August 8, 2022 /PRNewswire/ -- The "Smart Irrigation Controllers Market - A Global and Regional Analysis: Focus on Product and Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global smart irrigation controllers market was valued at $588.47 million in 2021, which is expected to grow with a CAGR of 13.98% and reach $1,280.81 million by 2027
The growth in the global smart irrigation controllers market is expected to be driven by the increasing adoption of smart agriculture practices and government initiatives towards sustainable irrigation techniques.
Market Lifecycle Stage
The smart irrigation controllers market is in the introductory growth phase. Increased research and development activities in agriculture, rising awareness of tech-based farming, climate change, and water scarcity in many countries are expected to increase the demand for smart irrigation controllers among farmers and agricultural companies.
Data management of farms with the help of big data and advances in communication technologies are some of the major opportunities in the global smart irrigation controllers market. Moreover, the smart irrigation controllers market has huge opportunities in the Asia Pacific region since most of the countries located in this region have huge agricultural sectors that contribute to each of the nations' GDP.
North America generated the highest revenue of $211.85 million in 2021, which is expected to reach $440.40 million by 2027. The region has been experiencing rapid growth in the smart irrigation industry in the past few years owing to the increasing technological advancements and increasing government support for the use of smart irrigation controllers.
Most of the water used for landscape irrigation is wasted because of the use of traditional irrigation systems. Increasing demand for smart irrigation controllers that meet the demand for run times and water schedules automatically is expected to increase the growth in the coming years.
Furthermore, Europe generated a revenue of $117.69 million in 2021 and is expected to grow at a CAGR of 12.95% from 2022 to 2027. High revenue generation was mainly attributed to increasing the use of smart irrigation systems and increasing investments from the European Commission for IoT-based smart irrigation. Most of the growth is expected to be driven by Eastern Europe countries in the forecast period.
Impact of COVID-19
The COVID-19 impact on the smart irrigation market was witnessed in the short term in 2020 and in 2021.
However, the market is anticipated to witness robust growth and recovery with increasing demand for the installation of the IoT devices in the agricultural farms throughout the world to make optimum utilization of resources with limited labor requirements in the agricultural fields. Therefore, the demand for smart irrigation controllers in agricultural and non-agri sectors is expected to increase during and post-COVID-19 pandemic.
The global smart irrigation controllers market, based on the application segment, is expected to be dominated by the non-agricultural industry. This is due to the increasing use of smart irrigation controllers in golf courses, sports grounds, residential areas, private lawns, and gardens.
The smart irrigation controllers market (by type) is dominated by weather-based irrigation controllers followed by soil-based irrigation controllers. Soil-based irrigation controllers are expected to witness the highest CAGR of 15.18% during the forecast period because sensors installed help in getting real-time soil moisture data at a faster rate depending upon the irrigation requirements. Soil-based controllers are better than weather-based controllers because they do not depend on weather forecasts or the data from the weather stations.
The Asia Pacific region is the fastest-growing market in the smart irrigation controllers industry. The rapid change in the climatic conditions, increasing government support, and increasing the need for saving water are the factors supporting the growth of smart irrigation controllers in the region.
Recent Developments in Global Smart Irrigation Controllers Market
In February 2022, Calsense launched Irrigation Management in terms of a Service, or IMaaS. IMaaS basically represents a unique and highly valuable approach to irrigation management, where it eliminates the need for customers mainly to secure capital funds to buy smart irrigation controllers, sensors as well as software.
In May 2021, the Toro Company acquired Left Hand Robotics, Inc. The acquisition mainly supports the Toro Company's strategic leadership in next-generation technologies, which include alternative power, smart connected, as well as autonomous products.
In March 2020Netafim had a collaboration with FluroSat to integrate FluroSat's remote sensing technology into Netafim's digital irrigation management platform Netbeat.
In June 2019Rain Bird partnered with Living Turf as a primary distributor for the full range of Rain Bird Gold Irrigation products throughout Australia. This partnership would enable Rain Bird to expand in Australia.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
HydroPoint Data Systems, Inc.
K-Rain Manufacturing Corporation
Nelson Irrigation Corporation
Rain Bird Corporation
The Toro Company
Valmont Industries, Inc.
Key Topics Covered:
1.1 Industry Outlook
1.1.1 Market Overview
18.104.22.168 Sustainable and Renewable Water Management
22.214.171.124 Integration of Wireless Technologies
1.1.3 Supply Chain Analysis
126.96.36.199 Consortiums and Associations
188.8.131.52 Government Initiatives
1.2 Business Dynamics
1.2.1 Business Drivers
184.108.40.206 Increasing Adoption of Smart Agriculture Practice
220.127.116.11 Increasing Need for Water Conservation
18.104.22.168 Increased Government Initiative to Promote Sustainable Irrigation Technique
1.2.2 Business Challenges
22.214.171.124 High Cost of Smart Irrigation Systems
126.96.36.199 Lack of Technical Knowledge and Limited Awareness among Farmers
188.8.131.52 Lack of Standardization
1.2.3 Market Strategies and Developments
184.108.40.206 Business Strategies
220.127.116.11.1 Product Development
18.104.22.168 Corporate Strategies
22.214.171.124.1 Mergers and Acquisitions
126.96.36.199.2 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.4 Business Opportunities
188.8.131.52 Farm's Data Management with the Help of Big Data
184.108.40.206 Growth Opportunities in the Asia-Pacific Region
220.127.116.11 Advancement in Communication Technologies
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
1.3.2 Investment Landscape
1.4 Impact of COVID-19 on Global Smart Irrigation Controllers Market
2.1 Global Smart Irrigation Controllers Market (by Application)
2.1.1 Market Overview
2.1.2 Agriculture Industry
18.104.22.168 Controlled Environment Agriculture
22.214.171.124 Open Field
2.1.3 Non-Agricultural Industry
126.96.36.199 Golf Course and Sports Ground
2.2 Demand Analysis of the Global Smart Irrigation Controllers Market (by Application)
2.2.1 Demand Analysis of the Global Smart Irrigation Controllers Market (by Agriculture)
2.2.2 Demand Analysis of the Global Smart Irrigation Controllers Market (by Non-Agriculture)
3.1 Global Smart Irrigation Controllers Market (by Product)
3.1.1 Weather-Based Controller
3.1.2 Soil-Based Controller
3.2 Demand Analysis of the Global Smart Irrigation Controllers Market (by Product)
3.3 Patent Analysis
3.3.1 Patent Analysis (by Status)
3.3.2 Patent Analysis (by Patent Office)
4.1 North America
4.2 South America
4.5 Middle East and Africa
4.7 Asia Pacific
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Market Share Analysis
5.2.1 Market Share Analysis of Companies offering Smart Irrigation Controllers
5.3 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/2qbcvf
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