Precision Irrigation Systems Market is estimated to grow with a CAGR of 13% during the forecast period from 2016 to 2023

Precision Irrigation Systems Market is estimated to grow with a CAGR of 13% during the forecast period from 2016 to 2023

According to a new market research report published by Credence Research “Precision Irrigation Systems Market — Growth, Share, Opportunities, Competitive Analysis and Forecast 2016–2023”, the global market for precision irrigation systems is projected to expand with a CAGR of 13 per cent from 2016 to 2023.

Market Insights:

Precision irrigation systems are considered to be the best irrigation techniques for high water efficiency and productivity. The overall system consists of accurate irrigation products linked to the control and management system. The irrigation products typically used for precision irrigation systems are drip irrigation, micro-sprayers & sprayers, center pivot, and linear moving irrigation systems. These systems are equipped with a control and management system that measures and controls the amount of water and fertilizer to be supplied to crops/plants. As a result, the overall water efficiency is substantially increasing in production.

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The most significant factor fueling the market growth is the increasing need/demand for a more efficient irrigation system with automated measurement and control features. Although traditional irrigation techniques still dominate the overall market, developed regions such as North America and Europe have a strong demand for advanced irrigation systems. Similar trends are estimated to be followed in the Asia-Pacific region, where agriculture is a large sector with a high population. The market for smart irrigation systems is largely driven by an increasing population coupled with food requirements worldwide.

According to the United Nations, the global population is projected to cross the 8 billion mark by 2030. This would also result in a need for higher food production. As a result, the adoption of more efficient and convenient irrigation systems is expected to increase significantly in the coming years, resulting in a higher demand for smart irrigation systems. However, the most significant obstacle to the market is the high cost and technical complexity of the precision irrigation infrastructure.

Competitive Insights:

Some of the major companies operating in the precision irrigation systems market are Netafim Ltd., Valmont Industries, Inc., Lindsay Corporation, Jain Irrigation Systems Ltd., The Toro Company, Hunter Industries, Inc. and others. The market specifically for the precision irrigation systems is quite consolidated in nature with few major players occupying the major chunk of revenue globally. These companies emphasize on offering irrigation equipment and control and monitoring system as a whole.

Key Trends:

  • Precision irrigation systems including chemigation and fertigation
  • Irrigation systems with internet connectivity
  • Focus on large untapped markets such as China and India
  • Development of advanced networks comprise a large number of sensors for precise moisture/weather conditions monitoring

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Market Segmentation

By Type

  • Drip Irrigation
  • Micro Sprinklers and Sprayers
  • Center Pivot
  • Linear Move

By Application Type

  • Agriculture
  • Non-agriculture
  • Sports Grounds
  • Landscapes & Turfs
  • Residential

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

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