Irrigation timers and controllers market to grow by USD 748.99 million from 2022 to 2027, Rising water scarcity to drive the growth- Technavio
NEW YORK, Sept. 26, 2023 /PRNewswire/ -- The irrigation timers and controllers market size is expected to grow by USD 748.99 million from 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 12.04% during the forecast period. The market is segmented by application (Agriculture and Non-agriculture), product (Smart controllers and Basic controllers), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Increasing water scarcity is a key factor driving the growth of the market. Developing countries such as India and China utilize extensive amounts of water for agriculture, with about 82% of available freshwater resources used for agriculture. Lack of effective irrigation methods leads to water wastage in most parts of the world. Therefore, installing irrigation timers and controllers for residential and commercial purposes is very convenient because it saves water, saves time, and saves costs. This will increase the demand for irrigation timers and controllers, which will drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample
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The market share growth by the agriculture segment will be significant during the forecast period. The growing demand for food, rising costs, and water shortages are driving demand for better irrigation methods, which in turn is driving sales of irrigation timers and controllers in the agricultural sector. Many companies offer irrigation timers and controllers for agricultural applications. In addition, the governments of the US, Canada, India, and China continuously strive to promote the development of the domestic agricultural sector by expanding support to farmers. Therefore, these factors are expected to drive the growth of the market segment during the forecast period.
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Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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