Automated Irrigation Market Set for Noteworthy Growth by 2030"
Global Automated Irrigation Market Analysis
The Automated Irrigation Market Size, valued at USD 3.64 billion in 2021, is expected to undergo significant growth, projected to increase from USD 4.20 billion in 2022 to reach USD 14.6 billion by 2030. This growth signifies a robust compound annual growth rate (CAGR) of 16.87% during the forecast period from 2022 to 2030. This market is witnessing rising demand driven by factors such as water scarcity challenges and the increasing global demand for the mechanization of agricultural processes.
Drivers
Smart Irrigation Technologies to Boost Market Growth
Agriculture & landscape management are changing as a result of the development of smart irrigation systems. By cutting input costs, the integration of smart technology helps to increase profit margins while using less natural resources. Monitoring of the soil conditions, water levels, weather, and watering schedules is made easier by smart technology. Intelligent technologies such as the IoT, artificial intelligence, & machine learning are being incorporated into the irrigation system.
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Opportunities
Demand for Real-time Automation to offer Robust Opportunities
The market is being driven by an increase in demand for real-time data on temperature, rain, & weather that are gathered by tensiometers and sensors. To determine the necessary levels of irrigation, these automated tensiometers are utilized in combination with plant evapotranspiration systems. Real-time automation systems consume less water than time-based systems, making them more environmentally friendly. Therefore, throughout the anticipated period, the aforementioned elements are anticipated to boost segment expansion.
Restraints and Challenges
High cost to act as Market Restraint
The high cost of automated irrigation and lack of data management may act as market restraints over the forecast period.
Market Segmentation
The global automated irrigation market is bifurcated based on components, type, application, and end users.
By components, controllers will lead the market over the forecast period.
By type, real-time-based will domineer the market over the forecast period.
By application, groundwater management will spearhead the market over the forecast period.
By end users, non-agricultural will spur the market over the forecast period.
COVID-19 Analysis
Irrigation automation producers and sellers have been dealing with a number of manufacturing problems in the aftermath of the current coronavirus (COVID-19) epidemic, including plant closures, a lack of raw materials, and a lack of resources, amid others. Additionally, supply chain across all agriculture ecosystems has been disrupted as a result of the spread of COVID-19. The irrigation automation value chain actors have been impacted by the slowdown in the supply of hardware equipment. The remote irrigation operations, however, were less impacted by the pandemic since there was less human involvement, and demand is anticipated to increase in the future years.
Regional Analysis
North America to Head Automated Irrigation Market
The North American automated irrigation market, which is estimated to reach USD 1.45 billion in 2021, will grow at a 13.00% CAGR throughout the course of the research period because more and more measures are being taken by the government to promote the use of irrigation systems & water conservation within the area. For example, the EPA has published three updated Water sense requirements for professional certification programs that address the installation, design, maintenance, & system auditing of irrigation systems. The major objective was to raise public awareness about water conservation and the use of environmentally friendly irrigation techniques.
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Key Players
Eminent industry players profiled in the global automated irrigation market report include The Toro Company (US), Hunter Industries (US), Valmont Industries Inc. (US), Rain Bird Corporation (US), Netafim (Israel), Rubicon Water (US), Nelson Irrigation Corporation (US), Jain Irrigation Systems (India), Irritec S.p.A. (US), and Stevens Water Monitoring Systems Inc. (US).
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