The precision irrigation market around the world is expected to reach U $ 14.89 billion by 2032 up from US$ 6.53 billion in 2023, with a CAGR of 9.60% between year 2024 to 2032. Such growth is owed to increasing water deficits, enhanced IoT and sensor technology, more efficient agriculture techniques and requirements needed, and sustainable farming governmental policies. Altogether these affect better agricultural yields, fewer operational costs and exclusive water utilization thus assisting to form new markets.
Precision irrigation is increasingly being adopted around the world due to the increasing scarcity of water and high use of irrigation in some world regions. Precision irrigation is extensively in use in high value fruits vegetables and vineyard in countries including United States of America, Israel and Australia. Countries of Asia and Africa particularly the emerging ones in the region are also seeking to adopt these methods to increase agricultural output and conserve meat. In the current world where climate change and sustainable farming are some of the biggest concerns, precision irrigation is important for efficient use of water and thus reduce costs and improve food security. The use of precision irrigation technology is still escalating, and is in unison with the growing trends in world agriculture of adopting innovative and conservation-based approaches that enables farmers to feed the increasing population while saving water.
Currently, China, India and Japan are still on the forefront in terms of use of precision irrigation that have been made possible by government incentives for water conservationism and smart agriculture. With respect to government policies favoring efficiency enhancement of the farm and water list progressive, precision irrigation in India is advancing. Market expansion is ignited by China’s transformative economic strategy that aims to upgrade agriculture as well as to increase food production. Implementation of IoT, AI and data analytics in precision irrigation is now possible due to technological development and is hence feasible for small holder and large-scale farmer.
The consumer base for produce such as fruits and vegetables are expanding, and there is a greater emphasis on environmentally friendly farming techniques. Growth of the Precision Irrigation Market Current: Technological advancement in the agricultural sector around Asia remains to be the prime growth factors that are in a position to give a continual boost to the precision irrigation market as a whole in order to fulfill the objective to enhance the food security as well as the close resource conservation activities in the Asia continent.
Precision Irrigation Industry Outlook
Precision irrigation is an improved method of applying water in the right amount, at the right time and most importantly at the right place in the farming. In this method, the crop requirements and other factors such as the climate are accessed through the use of sensors, GPS, and technology assistance. Different from other irrigation techniques, precision irrigation uses and applies water in accordance with the moisture content of the soil, development stages of plants apart from meteorological conditions, hence water conservation. Drip and sprinkler systems when affixed to precision technology will reduce water wastage, runoff and over watering hence improving the quality of the crop and yield.Precision irrigation is increasingly being adopted around the world due to the increasing scarcity of water and high use of irrigation in some world regions. Precision irrigation is extensively in use in high value fruits vegetables and vineyard in countries including United States of America, Israel and Australia. Countries of Asia and Africa particularly the emerging ones in the region are also seeking to adopt these methods to increase agricultural output and conserve meat. In the current world where climate change and sustainable farming are some of the biggest concerns, precision irrigation is important for efficient use of water and thus reduce costs and improve food security. The use of precision irrigation technology is still escalating, and is in unison with the growing trends in world agriculture of adopting innovative and conservation-based approaches that enables farmers to feed the increasing population while saving water.
Driving Forces of the Precision Irrigation Market
Water Scarcity and Conservation:
Fresh water sources are gradually becoming scarce and hence is a growing problem internationally and particularly in agriculture where 70% of fresh water is used. Rain and drip watering equipment which are automation devices that enable watering of crops at the right time and place can cut down wastage of water. They can lead to water savings between 30-50% of that which is used in traditional applications. Water intensity is codominant with climate change; therefore, the more efficient aim of farming is, for instance, precision irrigation. Thus, governmental organizations, agriculturists, and horticulturists are recommending precision irrigation as a water management strategy for sustainable development, so as to contribute to market expansion. WiseConn itself introduced a new product in the European market in 2023 to provide more irrigation management for agricultural operations, farms, and agribusiness to enhance water use efficiency and crop production and farm yields.Technological Advancements in IoT and AI:
Precision irrigation has been transformed by the Internet of Things (IoT) and Artificial Intelligence (AI). Sensors attached to IoT check moisture level of the soil, weather, and crop conditions in real-time manner. This data is then analyzed by AI algorithms to make appropriate irrigation decisions for crops, and machine learning models used to forecast the crops water requirements. These technologies can also be connected to the automated irrigation systems to maintain total and proper control even through smartphone apps. This sets of technology have enhanced efficient use of water, increased crop productivity, and stimulated market for precision irrigation.Increasing Focus on Sustainable Agriculture
Increasing demand for sustainable agriculture across the globe is boosting the growth of precision irrigation market. Precision irrigation can therefore be considered as in line with sustainable agriculture given that it minimizes the use of resources, the effects on the natural environment and maximizes yields. This also optimizes the use of fertilizer and also enable the farmers to farm under changing climatic conditions. The global market for precision irrigation technologies is also expected to grow due increasing rate at which governments across the world come up with policies supporting sustainable agriculture.Asian Precision Irrigation Market
The Asia precision irrigation market has grown because of water deficiency and the need for more crop production. Computerized and efficiently water resources viz drip irrigation system and sprinkler system are famous at present for efficient use of water and increased production in agriculture.Currently, China, India and Japan are still on the forefront in terms of use of precision irrigation that have been made possible by government incentives for water conservationism and smart agriculture. With respect to government policies favoring efficiency enhancement of the farm and water list progressive, precision irrigation in India is advancing. Market expansion is ignited by China’s transformative economic strategy that aims to upgrade agriculture as well as to increase food production. Implementation of IoT, AI and data analytics in precision irrigation is now possible due to technological development and is hence feasible for small holder and large-scale farmer.
The consumer base for produce such as fruits and vegetables are expanding, and there is a greater emphasis on environmentally friendly farming techniques. Growth of the Precision Irrigation Market Current: Technological advancement in the agricultural sector around Asia remains to be the prime growth factors that are in a position to give a continual boost to the precision irrigation market as a whole in order to fulfill the objective to enhance the food security as well as the close resource conservation activities in the Asia continent.
Precision Irrigation Company Analysis
The companies that dominate the market and engage in precision irrigation production include Jain Irrigation Systems Ltd, Lindsay Corporation, The Toro Company, and Valmont. These firms have specialized in the design and supply of Intelligent Precision Irrigation Services, which in the highly efficient use of water resources as well as the improvement of crop yields in the agricultural sectors.Precision Irrigation Company News
- Feb 2024, CropX Technologies and Reinke Irrigation have partnered to launch a new product, Reinke Direct ET™ by CropX, which offers affordable Actual Evapotranspiration (ETa) measurements for farmers using a sensor mounted on a Reinke center pivot irrigation system. The product aims to refine water management for farmers through field-specific Evapotranspiration (ET) measurements of crop water use.
- In January 2024, Toro's Transpira™ won the 2023 New Product of the Year Award from the Irrigation Association in the Agriculture Irrigation category, showcasing Toro's dedication to innovation and sustainability in agriculture.
- August 2022 - To help growers better manage their irrigation and water resources and make the most of Rivulis technology, Rivulis Irrigation India Ltd. introduced Manna, a satellite-based software solution.
- June 2022- Having combined their operations, Rivulis Irrigation India Ltd and Jain Irrigation Systems Limited are now among the most significant irrigation system suppliers worldwide.
- February 2022 - Netafim Limited introduced the product AlphaDisc Filter to the US market. It guards against organic impurities clogging irrigation systems. It might allow growers to irrigate consistently, which would probably boost yield.
Type- Market breakup in 3 viewpoints:
- Sprinkler Irrigation
- Drip Irrigation
- Others
Crop Type - Market breakup in 5 viewpoints:
1 Field Crops- Vegetable corps
- Orchard Crops
- Vineyards
- Other Crops
Application - Market breakup in 5 viewpoints:
- Agricultural Fields
- Landscape and Turf Irrigation
- Greenhouse
- Residential
- Others
Country - Market breakup in 25 viewpoints:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- the Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
The key players have been covered from 5 viewpoints:
- Overview
- Key Persons
- Product Portfolio
- Recent Development & Strategies
- Revenue Analysis
Key Players Analysis:
- Jain Irrigation Systems Ltd
- Lindsay Corporation
- The Toro Company
- Valmont
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Precision Irrigation Market
4. Market Dynamics
6. Market Share Analysis
7. Type
8. Crop Type
9. Application
10 Countries
11. Porter’s Five Forces Analysis
12. SWOT Analysis
13. Key Players Analysis
Companies Mentioned
- Jain Irrigation Systems Ltd
- Lindsay Corporation
- The Toro Company
- Valmont
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 6.53 Billion |
| Forecasted Market Value ( USD | $ 14.89 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 4 |
