Global Smart Irrigation Controllers Markets, 2022-2027: Business Opportunities in Farm's Data Management with the Help of Big Data
DUBLIN, Aug. 8, 2022 /PRNewswire/ -- The "Smart Irrigation Controllers Market - A Global and Regional Analysis: Focus on Product and Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global smart irrigation controllers market was valued at $588.47 million in 2021, which is expected to grow with a CAGR of 13.98% and reach $1,280.81 million by 2027
The growth in the global smart irrigation controllers market is expected to be driven by the increasing adoption of smart agriculture practices and government initiatives toward sustainable irrigation techniques.
Market Lifecycle Stage
The smart irrigation controllers market is in the introductory growth phase. Increased research and development activities in agriculture, rising awareness of tech-based farming, climatic change, and water scarcity in many countries are expected to increase the demand for smart irrigation controllers among the farmers and agriculture companies.
Data management of farms with the help of big data and advancements in communication technologies are some of the major opportunities in the global smart irrigation controllers market. Moreover, the smart irrigation controllers market has huge opportunities in the Asia-Pacific region since most of the countries located in this region have huge agricultural sectors that contribute to each of the nations' GDP.
North America generated the highest revenue of $211.85 million in 2021, which is expected to reach $440.40 million by 2027. The region has been experiencing rapid growth in the smart irrigation industry in the past few years owing to the increasing technological advancements and increasing government support for the use of smart irrigation controllers.
Most of the water used for landscape irrigation is wasted because of the use of traditional irrigation systems. Increasing demand for smart irrigation controllers that meet the demand for run times and water schedules automatically is expected to increase the growth in the coming years.
Furthermore, Europe generated a revenue of $117.69 million in 2021 and is expected to grow at a CAGR of 12.95% from 2022 to 2027. High revenue generation was majorly attributed to increasing the use of smart irrigation systems and increasing investments from the European Commission for IoT-based smart irrigation. Most of the growth is expected to be driven by Eastern Europe countries in the forecast period.
Impact of COVID-19
The COVID-19 impact on the smart irrigation market was witnessed in the short term in 2020 and in 2021.
However, the market is anticipated to witness robust growth and recovery with increasing demand for installation of the IoT devices in the agricultural farms throughout the world to make optimum utilization of resources with limited labor requirements in the agriculture fields. Therefore, the demand for smart irrigation controllers in agri and non-agri sectors is expected to increase during and post-COVID-19 pandemic.
The global smart irrigation controllers market, based on the application segment, is expected to be dominated by the non-agriculture industry. This is due to the increasing usage of smart irrigation controllers in golf courses, sports grounds, residential areas, private lawns, and gardens.
The smart irrigation controllers market (by type) is dominated by weather-based irrigation controllers followed by soil-based irrigation controllers. Soil-based irrigation controllers are expected to witness the highest CAGR of 15.18% during the forecast period because sensors installed help in getting real-time soil moisture data at a faster rate depending upon the irrigation requirements. Soil-based controllers are better than weather-based controllers because they do not depend on weather forecasts or the data from the weather stations.
The Asia-Pacific region is the fastest-growing market in the smart irrigation controllers industry. The rapid change in the climatic conditions, increasing government support, and increasing the need for saving water are the factors supporting the growth of smart irrigation controllers in the region.
Recent Developments in Global Smart Irrigation Controllers Market
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
Key Topics Covered:
5 Markets - Competitive Benchmarking & Company Profiles
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