The global smart irrigation market size is expected to reach $2.9 billion by 2027 at a compound annual growth rate of 15.5%, according to a new report by Emergen Research, Surrey, British Columbia. Major factors such as rapid advancements in the agricultural sector, increasing demand for good quality food, and rapidly expanding global population are driving global market revenue growth.
Smart irrigation is an advanced irrigation process that uses various components and controllers to monitor weather, plant water use, soil conditions, and adjusts watering schedule automatically according to actual conditions. Factors such as rising concerns regarding water shortage across several countries, increasing penetration of Internet of Things, and constant weather changes are boosting global market growth. High adoption of smart irrigation systems on golf courses, sports ground, forestry and turf and landscape, increasing usage of automated irrigation systems in residential and commercial buildings is also fueling market growth.
High initial investment, lack of skill sets, and limited knowledge about smart irrigation are some factors expected to hamper global smart irrigation market growth up to a certain extent during the forecast period.
Among the components segment, the controllers segment is expected to account for largest revenue growth during the forecast period. Availability of technologically advanced controllers, extensive usage of controllers in commercial farms, residential and commercial properties are key factors boosting segment revenue growth.
Based on system types, the weather-based system segment is expected to account for significantly higher revenue growth over the forecast period. Increasing government initiatives for water conservation, automotive irrigation scheduling, continuous demand for food and increasing global population are factors fueling market growth. Weather-based systems are deployed in golf courses, landscaping, and commercial buildings.