Smart Irrigation Solutions Market Anticipated to Be Worth $10.2 Billion by 2030
Meticulous Research®, a leading global market research company, has released a detailed report titled “Smart Irrigation Market by Type (Weather-Based, Soil Moisture-Based), Component (Monitoring, Controlling, Connectivity, Software), Irrigation Type (Sprinkler, Drip, Surface, Pivot), End Use, and Geography – Global Forecast to 2030.”
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According to the latest insights from Meticulous Research®, the smart irrigation market is expected to soar to $10.2 billion by 2030, registering a robust CAGR of 22.4% from 2023 to 2030. This significant growth is driven by the increasing need for water efficiency and conservation, supportive government policies promoting sustainable agriculture, and the rising demand for soil moisture monitoring across various applications such as agriculture, landscaping, and gardening. The integration of advanced technologies like IoT sensors, Wi-Fi, and GPS in irrigation controllers further propels the market, offering vast opportunities for growth.
Despite these promising prospects, the market faces challenges, including the high cost of installation and inadequate water infrastructure in developing regions.
Market Segmentation and Insights:
Type: The report segments the market into weather-based and soil moisture-based irrigation. The soil moisture-based irrigation segment is anticipated to dominate in 2023, owing to its cost-effectiveness, ease of use, and capability for continuous, accurate soil moisture readings, making it suitable for both small and large landscapes.
Irrigation Type: Segmented into sprinkler, drip, surface, pivot, and others, the sprinkler irrigation segment is expected to hold the largest market share in 2023. This is attributed to its widespread adoption in both agricultural and non-agricultural sectors, driven by urbanization and the growing number of lawns, gardens, and sports grounds. Meanwhile, the drip irrigation segment is forecasted to achieve the highest CAGR, thanks to its efficiency in water use and ability to significantly boost crop yields.
Component: The market is divided into monitoring components, controlling components, connectivity, and software. In 2023, the monitoring components segment is projected to lead, supported by the increasing deployment of sensors that enable precise irrigation based on soil and weather conditions, thereby optimizing water use and extending the lifespan of irrigation systems.
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End Use: The report classifies end uses into agricultural and non-agricultural segments. The non-agricultural segment is expected to capture the largest market share in 2023, driven by the prevalence of golf courses, sports grounds, and gardens, especially in developed countries. The adoption of smart irrigation controllers with Wi-Fi and smartphone management capabilities is also on the rise in this segment.
Geography: Geographically, North America is anticipated to dominate the market in 2023, thanks to the high demand for lawn and garden equipment and the extensive presence of golf courses and sports grounds. Conversely, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period, fueled by the adoption of modern irrigation techniques, strong governmental support, and increasing awareness among farmers about the benefits of smart irrigation.
Key Players: The report identifies key players in the smart irrigation market, including Netafim Ltd. (Israel), The Toro Company (U.S.), Lindsay Corporation (U.S.), Rain Bird Corporation (U.S.), Valmont Industries, Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), Mottech Water Solutions Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Rachio, Inc. (U.S.), Holman Industries (Australia), Orbit Irrigation Products, Inc. (U.S.), HydroPoint Data Systems, Inc. (U.S.), Weathermatic (U.S.), Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel), and Calsense (U.S.).
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