Precision Irrigation Market Size, Share, Growth, and Industry Analysis, By Type (Sprinkler Irrigation, Drip Irrigation and Boom Irrigation), By Application (Agriculture, Public Parks, Gardens & Household Lawns, Sport Grounds, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Precision Irrigation Market REPORT OVERVIEW

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The global precision irrigation market size was USD 3503 million in 2022 and market is projected to touch USD 5559.9 million by 2031, at a compound annual growth rate (CAGR) of 5.3% during the forecast period.

Precision irrigation is a special sustainable farming technique that enables the distribution of water and nutrients to the plant at the appropriate time and location and in small, calculated dosages to provide it the best growing circumstances. In addition to being the finest option for administering water, precision irrigation is also the most effective way to apply fertiliser. With the aid of fertilisation, you can give nutrients at precisely the right times to support the best possible plant growth while shielding your soil from leaching and groundwater contamination.

The biggest benefit of irrigation systems for crops is that they guarantee good yields and product quality, independent of the yearly environment. Not all farmers are fortunate enough to reside in humid regions with regular rainfall and enough moist soil for crops to flourish. Smallholders are able to tackle the problem of appropriate irrigation thanks to contemporary technologies. The soil around the fork is wetted using conventional watering techniques. Because the plant pulls water through its roots from a specific depth, water—a precious and endangered resource—is wasted and remains unusable in this manner. Irrigation systems deliver water precisely where needed, in an amount that corresponds to the crop's requirements, and to the roots of the plant.

Drip irrigation technique is an economical and environmentally friendly watering technique that allows for the highest yields and savings. This will prevent any water from being wasted, not even through evaporation. Precise application of water and nutrients, which prevents spray losses on the surrounding soil and reduces weed emergence. All varieties of soil and all sizes of arable land are appropriate for irrigation. The entire surface of the land is uniformly irrigated through precision irrigation. Precision irrigation systems are simple to set up, automated, and only marginally labour-intensive. When used in conjunction with AI, some methods of precise irrigation can cut water waste to only 2.6%. Crop yields are enhanced by the precise guidance system, which also promotes greater growth and higher quality.

COVID-19 Impact: Disruptions in Supply Chain to Hinder Market Growth

Due to supply chain interruptions and frequent lockdowns, the pandemic COVID 19 has a severe effect on the producers of precise irrigation. Additionally, the expansion of the Precise Irrigation market has been constrained by the economic downturn and international issues. As the market recovers from the epidemic, different regions will have different growth trajectories, with some countries having enormous growth potential and others having narrow profit margins. The development of the precise irrigation market is fuelled by new generations of precise irrigation that perform better, offer greater accuracy and flexibility, and are simple to integrate into existing systems. However, a paradigm shift toward a connected world and an increasing need for downsizing are driving the need for more development of smarter goods and further innovation in the market for precise irrigation.

LATEST TRENDS

"Importance of Irrigation in Urban Farming to Propel Market Expansion"

Urban farming is one of the cutting-edge, intelligent agricultural approaches that are becoming more and more necessary as cities grow. In the years to come, this tendency is anticipated to fuel the worldwide precision irrigation market growth. In the upcoming years, the global irrigation market is expected to have strong demand due to increased farm productivity brought on by precise irrigation techniques.

Precision Irrigation Market SEGMENTATION

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• By Type

Based on type; the market is divided into sprinkler irrigation, drip irrigation and boom irrigation.

In terms of product, drip irrigation is the largest segment.

• By Application

Based on application; the market is divided into agriculture, public parks, gardens & household lawns, sport grounds and others.

In terms of application, agriculture is the largest segment.

DRIVING FACTORS

"Internet Of Things Technology to Enhance Market Growth"

Numerous lucrative opportunities have been established for the vendors and manufacturers working in the worldwide precision irrigation market as a result of the growing use of precision farming techniques and internet of things technology in agriculture. In the upcoming years, the worldwide irrigation market is anticipated to grow as a result of new GPS applications designed to collect intelligent data on the moisture and soil quality.

"Numerous Applications of Precision Irrigation to Accelerate Market Growth "

It is anticipated that irrigation reduces water use by between 10% and 15%. Other advantages include a bigger area that may be harvested, fewer illnesses, and less leaching. The transition to commercial equipment for use in irrigation is simple and doable. For these systems, crop water needs and soil moisture are important variables that can be tracked in a variety of ways. This factor has positively influenced precision irrigation market growth.

RESTRAINING FACTORS

"Lack of Cost Efficiency to Impede Market Expansion "

Numerous problems with precision irrigation prevent its widespread application in agriculture. At the current grain price to water cost ratio, its use is not cost-effective. In addition, the rate at which fertilisers or animal manure is incorporated into irrigation water and the amount of water the soil can hold differ regionally. Despite the machine being properly constructed for the majority of the field, surface runoff results if one or both of these characteristics are lower in one spot than in the majority of the field. The crop may suffer from aeration damage if runoff ponds up in the irrigated region.

Precision Irrigation Market REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Due to Government Assistance in Irrigation Sector"

Asia Pacific dominates the market and owns a large proportion of precision irrigation market share. The government is assisting the irrigation industry as a part of a larger pro-rural policy initiative aimed at assisting agriculture. The majority of the nations in the Asia Pacific region have average incomes, and the government is providing more and more subsidies to the irrigation industry in an effort to increase food security. Due to the region's already high level of agricultural mechanisation, Asia Pacific is leading the way in the use of precise irrigation as a way to increase crop productivity.

KEY INDUSTRY PLAYERS

"Innovative techniques Implemented by Market Players to Boost Market Growth"

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. Solutions provided by manufacturers in the global precision irrigation market provide remarkable advantages in terms of encouraging greater crop production, lessening time wasted, and water conservation. These techniques are shown to be quite useful in growing crops that are both high quality and healthful. The above data points provided are only related to the companies' focus related to the market.

List of Market Players Profiled

• Aquaspy (U.S.)
• CropMetrics (U.S.)
• Grodan (Netherlands)
• Hortau (U.S.)
• Hunter Industries (U.S.)
• Jain Irrigation Systems (India)
• Lindsay Corporation (U.S.)
• Nelson Irrigation (U.S.)
• Netafim (Israel)
• Rain Bird Corporation (U.S.)

REPORT COVERAGE

Optimal Irrigation With strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a comprehensive summary of the market circumstances in the forecast term, market research reports provide a careful watch on key rivals. It is an expertly written, in-depth study that emphasises key and secondary drivers, market share, top categories, and regional analysis. The paper also examines prominent actors, significant partnerships, mergers, and acquisitions, as well as popular innovations and business practises. The report includes a chapter on impact of COVID-19.