Report Description
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Market Report Coverage - Global Smart Irrigation Controllers Market
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Base Year
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2018
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Market Size by 2018
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$207.60 million
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Forecast Period
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2019-2024
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Value Estimation by 2024
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$480.19 million
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CAGR During Forecast Period
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15.0%
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Number of Tables
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Number of Pages
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179 |
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Market Segmentation
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• Type - weather-based controllers and soil- based controllers
• End-user industry - Agriculture Industry and Non-Agriculture Industry
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Regional Segmentation
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North America – Canada, U.S., Mexico, and Rest-of-North America
Europe - U.K., Germany, France, Netherlands, Spain, and Rest-of-Europe
Asia-Pacific – China, India, Japan, Australia and New Zealand, and Rest-of-Asia-Pacific
Rest-of-the-World – Brazil, Argentina, Israel, South Africa, and Others
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Key Companies Profiled
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The key market players include Valmont Industries, Lindsay Corporation, The Toro Company, Hunter Industries, Rain Bird Corporation, HydroPoint Data Systems, Netafim, Rachio Inc., Weathermatic, Green IQ, and Nelson Irrigation, among others.
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Market Segmentation
Market Outlook by Type
A range of smart irrigation technologies is available in the industry that is highly beneficial to the consumers. Selection of the right technology based on the requirement is of utmost importance to get the desired water savings. Smart irrigation controllers technology helps in achieving the desired savings.
The smart irrigation controllers help in reducing the outdoor water usage by controlling and monitoring the site conditions, including rain, soil moisture, wind, plant type, slope and others. Owing to the change in climate the demand for weather-based irrigation controllers is high at present.
Additionally, with the growth in the number of playgrounds golf courses, and other places, the use of weather-based irrigation controllers have increased significantly. Owing to the use of weather-based controllers, outdoor water usage has been reduced to a greater extent. In 2019, weather-based irrigation controllers dominated the market share in terms of revenue and is expected to do so in 2024 as well.
By End-User Industry
Smart irrigation technologies help consumers of both industries i.e. agriculture and non-agriculture to schedule irrigation patterns and manage the demand for water with respect to their fields, lawns, or crops.
The growing importance of proper watering schedules and irrigation solutions in applications for non-agriculture industry including turf and landscape, residential and golf courses. It is a major reason for the growth of the non-agriculture industry. In 2019, the non-agriculture industry occupied the maximum market share in terms of revenue and is expected to do so in 2024 as well.
By Region
The trends influencing the smart irrigation controllers market vary across geographical regions. The market currently holds a prominent place across countries including North America, Asia-Pacific (APAC), Europe and Rest-of-the-World (RoW).
Currently, North America is at the forefront of irrigation controllers market, with market penetration rate for countries such as the U.S., Mexico, and others. These countries are expected to display robust market growth in the next five years.
The region of North America, followed by the region of Asia-Pacific, generated the highest revenue in the smart irrigation controllers market during 2018. A rapid growth rate in the past few years has been witnessed by the region owing to several factors including technological advancements across the agriculture industry.
Key Questions Answered in this Report
Key Questions Answered in this Report:
• What is the global smart irrigation controllers market size in terms of revenue, and what is the expected growth rate during the forecast period 2019-2024?
• What is the expected growth and market size for the smart irrigation controllers market based on different types of controllers?
• What is the revenue generated by smart irrigation controllers in different end-user industries such as agriculture and non-agriculture industry at global and regional levels?
• What is the market size and opportunities of smart irrigation controllers market across different regions?
• What are the major driving forces that are expected to increase the demand for the global smart irrigation controllers market during the forecast period?
• What are the key trends and opportunities in the market pertaining to global smart irrigation controllers?
• What are the major challenges inhibiting the growth of the global smart irrigation controllers market?
• What is the competitive strength of the key players in the smart irrigation controllers market on the basis of analyses of their recent developments, product offerings, and regional presence?
Market Overview
Market Overview and Estimation
Scarcity of water is the most significant environmental concern at present. The commercial and agriculture industry uses majority of the water resources at present, the residential sector, to have become a major end user of the same. This trend can be witnessed across developed countries.
Studies have highlighted that majority of the residential usage of water resources is being used for the purpose of landscape irrigation. Even though irrigation is must for maintaining the health of the plant, however, excess watering can also lead to a negative impact on both the environment and economy.
With a considerable increase in the global population, declining agricultural lands, and depletion of natural resources, the necessity to augment farm yield has become critical. However, limited availability of natural resources such as fresh water and arable land, along with sluggish rate of yield in several staple crops, have further aggravated the issue.
Another concern plaguing the agriculture industry is the shifting structure of agricultural workforce toward the non-agriculture or service industry. Owing to the decline in the agricultural workforce, adoption of internet connectivity solutions, adoption of smart technologies in agriculture has increased.
To fulfil the growing demand for the agricultural produce from the limited resources, has provided a platform to the agriculture machinery developers and technology vendors to introduce innovative solutions in the agricultural arena. These solutions are focused on supporting farmers to fulfil the supply-demand gap by ensuring high yield, profitability, and protection of the environment.
The approach of using smart technology to ensure optimum application of water to achieve high crop yields and reduce operational costs is called smart irrigation. Smart irrigation controllers are being used in the residential and commercial industry since 2000. Smart irrigation controllers reduce the outdoor water usage by monitoring and controlling the information about the site and then applying the required amount of water.
Smart irrigation controllers are the new generation of irrigation controllers. They make use of the weather conditions, current and historic evapotranspiration, soil moisture levels, and other factors to meet the water demand with regard to plants.
According to the market intelligence study published by BIS Research, the global smart irrigation controllers market generated a revenue of $207.60 million in 2018 and is expected to reach $480.19 million by 2024. The market is projected to grow at a CAGR of 15% during the forecast period from 2019 to 2024.
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Growth Drivers
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• Increasing Demand for Water Conservation
• Increasing Government Initiatives and Investments
• Growth in Adoption of Smart Agriculture Practices
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Market Challenges
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• High Technological Costs and Limited Technical Knowledge and Skills
• Lack of Standardization in the Smart Irrigation Industry
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Market Opportunities
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• Data Management of Farms With the Help of Big Data
• Advancement in Communication Technologies
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Growth Factors
- Demand for Water Conservation: Water scarcity is a major problem being faced by several countries across the globe. The use of water has been increasing at more than twice the rate of increase in the global population. Moreover, to improve water usage efficiency, startups are now innovating in the smart irrigation area, as well as farmers have started using sensor-based smart irrigation systems using irrigation intelligence on the basis of the real-time field data.
- Government Initiatives and Investments: Increasing concerns over global food security and sustainability have facilitated heavy investments by governments across the world. The global smart irrigation controllers market is strongly driven by the massive support of the government in terms of investments, favorable initiatives, and trade policies. Countries across the Asia-Pacific region are heavily implementing national strategies in order to support the modernization of smart irrigation technologies.
- Adoption of Smart Agriculture Practices: With the exponential growth of population, subsequent rise in demand for food, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical. The increase in urban population in developing countries, along with the enhancement of quality of living due to high income levels are boosting the demand for crop production.
