Meticulous Research®, a prominent global market research company, has released a comprehensive report titled ‘Precision Irrigation Market by Offering (Solutions, Services), Irrigation Type (Sprinklers Irrigation, Drip Irrigation, Surface Irrigation), End User (Agriculture, Turf & Sport Fields, Residential), and Geography - Global Forecast to 2030.’

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The report forecasts that the precision irrigation market will reach $4.2 billion by 2030, with a compound annual growth rate (CAGR) of 11.7% during the forecast period. This anticipated growth is driven by the increasing necessity for improved water efficiency and conservation, the rising adoption of precision irrigation technologies aimed at enhancing crop yield and quality, and supportive government policies providing subsidies and low-interest loans for implementing precision irrigation systems. However, significant challenges remain, particularly the high initial costs associated with hardware, software, and maintenance. Despite these challenges, the market offers opportunities through investments in sensor-based systems and automated irrigation controllers. Additionally, connectivity issues in rural areas pose a major challenge for market players. The integration of machine learning (ML) and artificial intelligence (AI) is also a growing trend in the precision irrigation market.

The precision irrigation market is categorized based on offerings, irrigation types, end users, and geographical regions. The offerings are divided into solutions (which include both software and hardware) and services. Irrigation types encompass surface irrigation, sprinkler irrigation, drip irrigation, center pivot irrigation, and other methods. The end users are segmented into agriculture (including field crops, vineyards, orchards, and greenhouses), residential, turf & sports fields, golf courses, parks, landscapes, and other categories. This report also includes a competitive analysis of industry players and evaluates market dynamics at the regional and country levels.

Regarding offerings, it is expected that the solutions segment will dominate the precision irrigation market in 2024. This segment's anticipated growth can be attributed to the increasing implementation of precision irrigation solutions that enhance crop yield and quality. Environmental awareness is also driving farmers to adopt precision irrigation solutions, as these systems provide valuable insights on soil moisture and weather conditions, allowing for improved resource management. This segment is projected to experience the highest CAGR during the forecast period.

In terms of irrigation types, the sprinkler irrigation segment is expected to command the largest market share by 2024. The factors contributing to this segment's growth include the demand for cost-effective irrigation solutions and the high efficiency of sprinkler systems, which provide uniform water distribution. Furthermore, the use of sprinklers to protect crops from high temperatures and their application for high-value crops enhances their market appeal. This segment is also projected to register the highest growth rate during the forecast period.

When examining end users, agriculture is projected to capture the largest share of the precision irrigation market in 2024. This growth is driven by the increasing emphasis on improving efficiency and productivity while minimizing environmental impact. Precision irrigation technologies facilitate precise water application, resulting in enhanced crop yields. Consequently, the agriculture segment is expected to grow at the highest CAGR during the forecast period.

Geographically, the precision irrigation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among these regions, Asia-Pacific is expected to hold the largest market share by 2024. The growth in this region can be attributed to the increasing demand for agricultural products, supportive government initiatives promoting sustainable practices, and advancements in agricultural technology. Additionally, the diverse climatic conditions within Asia-Pacific encourage the adoption of precision irrigation to ensure effective water use and crop management. This market is also projected to experience the highest CAGR throughout the forecast period.

Key Players:

The key players operating in the precision irrigation market include Netafim Limited (Israel) (A Subsidiary of Orbia Advance Corporation, S.A.B. de C.V.), Deere & Company (U.S.), Jain Irrigation Systems Ltd. (India), Lindsay Corporation (U.S.), Nelson Irrigation Corporation (U.S.), Saturas ltd. (Israel), The Toro Company (U.S.), Valmont Industries Inc. (U.S.), T-L IRRIGATION CO. (U.S.), Viridix Ltd. (Israel), Mahindra EPC Irrigation Limited (India), Chinadrip Irrigation Equipment Co.Ltd. (China), Libelium Comunicaciones Distribuidas S.L. (Spain), CropX Technologies Ltd. (Australia), and ONDO (Balkans).

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Key questions answered in the report.

  • Which are the high-growth market segments based on offering, irrigation type, end user, and geography?
  • What was the historical market for precision irrigation?
  • What are the market forecasts and estimates for the period 2024–2030?
  • What are the major drivers, restraints, opportunities, challenges, and trends in the precision irrigation market?
  • Who are the major players, and what shares do they hold in the precision irrigation market?
  • What is the competitive landscape like in the precision irrigation market?
  • What are the recent developments in the precision irrigation market?
  • What are the different strategies adopted by the major players in the precision irrigation market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the precision irrigation market, and how do they compete with the other players?

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