Global Precision Irrigation Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2022 - 2030)

Precision irrigation involves the accurate assessment of the requirements of the plants and accurate application of the required volume at the required time. The development of the precision irrigation has played a significant role not only in reducing the water which is required to maintain the yields of the crop but it has stressed on the need for new methods for accuracy of irrigation scheduling and control. The market for precision irrigation was valued at USD 2.76 billion in the year 2017 and is estimated to increase further till 2023, registering a CAGR growth of 7.2% in the forecast period.

The market for precision irrigation is driven by factors such as increasing need for efficient use of water globally, demand for varieties of crops available round the year, rising population and their increasing food demand, and strong support from different government organizations who encourage and promote the farmers to adopt precision irrigation and enhanced yield and quality of crops by using precision irrigation. The major factors which are affecting the market negatively are high initial installation cost and maintenance cost and lack of technical expertise to interpret and operate precision irrigation technologies.

Boom Irrigation System to be the Best Technology

Boom irrigation system have proved to be the best technology developments in precision irrigation over the last 20 years. They work best with plug or cell trays, pot to pot spaced plants or cutting in beds. The system has efficiency and precision in watering thus reducing wastage. This system requires less water because it operates to provide the optimum amount of water for the crop. Labor is also reduced as irrigation can be done while doing other tasks.

North America Dominates the Precision Irrigation Market

In 2016, North America dominated the precision irrigation market with a market share of more than 30%. The US dominates the market share for precision irrigation in the region. During the forecast period the North America is expected to witness a CAGR of 6.9%. Large scale farmlands, ever existing need to increase productivity of agriculture, and high labor costs will drive the market for precision irrigation in this region. Farmers in this region are highly skilled and are willing to embrace new technologies, therefore high growth rates are expected to be seen in the region.

Major Players: RIVULIS IRRIGATION LTD., JAIN IRRIGATION SYSTEMS LTD., VALMONT INDUSTRIES INC, THE TORO COMPANY, LINDSAY CORPORATION, RAIN BIRD CORPORATION, NELSON IRRIGATION CORPORATION, AND NETAFIM LTD., among others.

Reasons to Purchase this Report

• Identify the dominating and the fastest growing regions in the global precision irrigation market and their growth trends during the forecast period
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• To understand the regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

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