Precision Irrigation Market to be Worth $4.2 Billion by 2030

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

Meticulous Research^®—a leading global market research company, published a research 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.’

According to this latest publication from Meticulous Research^®, the precision irrigation market is projected to reach $4.2 billion by 2030, at a CAGR of 11.7% during the forecast period. The growth of this market is driven by the growing need to improve water efficiency and conservation, the rising implementation of precision irrigation to enhance crop yield and quality, and the increasing government policies and subsidies for low-interest loans to implement precision irrigation systems. However, high initial costs and maintenance due to the hardware, software, and infrastructure restrain the growth of this market. Furthermore, the growing investment in sensor-based systems and automated irrigation controllers is expected to create market growth opportunities. However, the connectivity issue for implementation in rural areas is a major challenge for the players operating in this market. The latest trends in the precision irrigation market are the increasing use of machine learning and artificial intelligence.

The precision irrigation market is segmented by offering (solution [software and hardware], services), irrigation type (surface irrigation, sprinklers irrigation, drip irrigation, center pivot irrigation, and other irrigation), end user (agriculture [field crops, orchards and vineyards, and greenhouse], residential, turf & sport fields, golf courses, parks, and landscapes, and other end users), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on offering, the precision irrigation market is segmented into solutions and services. In 2023, the solutions segment is expected to account for the larger share of the precision irrigation market. The large market share of this segment is attributed to the rising implementation of precision irrigation solutions to enhance crop yield and quality, the growing awareness of environmental issues to encourage farmers to adopt precision irrigation solutions, the rising large-scale farming operations, the growing need to save water, energy, and labor cost, and the growing availability of data-driven insights on soil moisture and weather condition.

Also, this segment is projected to register the highest CAGR during the forecast period.

Based on irrigation type, the precision irrigation market is segmented into surface irrigation, sprinkler irrigation, drip irrigation, center pivot irrigation, and other irrigation. In 2023, the sprinklers irrigation segment is expected to account for the largest share of the precision irrigation market. The large market share of this segment is attributed to the growing need for affordable irrigation, the high irrigation efficiency due to uniform distribution of water, the rising need to protect crops against high temperatures, and the growing use of sprinklers irrigation for high-valued plantation crops like coffee, cardamom, and orchards.

Also, this segment is projected to register the highest CAGR during the forecast period.

Based on end user, the precision irrigation market is segmented into agriculture, residential, turf & sport fields, golf courses, parks, and landscapes, and other end users. In 2023, the agriculture segment is expected to account for the largest share of the precision irrigation market. The large market share of this segment is attributed to the growing need to improve efficiency and productivity by optimizing the use of resources like water and fertilizer, the rising initiatives to reduce environmental impact by minimizing soil erosion and water pollution, the increasing need to grow crops, maintain landscapes, and revegetate disturbed soils in agriculture, and the growing need to applying water to crops in a precise and targeted manner.

Also, this segment is projected to register the highest CAGR during the forecast period.

Based on geography, the precision irrigation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the precision irrigation market. The large market share of Asia-Pacific is attributed to the growing need to maximize crop yields and meet the rising demand for agricultural products, the rising government initiatives in the region to promote sustainable agricultural practices and water conservation, the increasing advancements in agricultural technology, and the diverse climatic conditions allowing farmers to adopt precision irrigation to ensure efficient water use and crop management.

Also, this market is projected to register the highest CAGR during 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 2023–2030?
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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