The precision irrigation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Precision Irrigation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The precision irrigation market size has grown rapidly in recent years. It will grow from $8.11 billion in 2023 to $9.23 billion in 2024 at a compound annual growth rate (CAGR) of 13.94%. The growth in the historic period can be attributed to increasing concerns about water scarcity and drought conditions , climate change impacts, increasing adoption of iot and ai, increasing farm sizes, rising labor costs.
The precision irrigation market size is expected to see rapid growth in the next few years. It will grow to $15.40 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to climate change adaptation, demand for sustainable agriculture solutions, expansion of smart agriculture practices, growing recognition of the interconnectedness between water. Major trends in the forecast period include integration with digital farming platforms, enhanced water management solutions, integration with climate-smart agriculture practices, water-energy nexus optimization, iot and sensor technologies.
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Scope Of Precision Irrigation Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Precision Irrigation Market Overview
Market Drivers –
The increasing demand for agricultural products is expected to propel the growth of the precision irrigation market going forward. Agricultural products refer to goods or commodities produced through farming or agricultural practices. The demand for agricultural products is rising due to population growth, changing diets, biofuel production, urbanization, and food security concerns. Precision irrigation is used in the agriculture sector to deliver water to crops precisely and efficiently, optimize water usage, reduce water waste, and improve crop yields. For instance, In January 2023, according to reports published by Agriculture and Agri-Food Canada, a Canada-based government department, Canada’s total field crop production was 34.1% higher than in 2021. Further, in the 2022–23 period, Canada’s wheat production (excluding durum) saw a 47% increase compared to 2021–22, reaching 28.4 million metric tons. Therefore, an increasing demand for the agriculture sector is driving the growth of the precision irrigation market.
Market Trends –
Major companies operating in precision irrigation market are focusing on developing innovative filtration system for irrigation, such as AlphaDisc filters, to enhance irrigation system protection against clogging caused by organic contaminants. AlphaDisc filtration system is a filtration technology or process incorporating novel approaches, materials, or designs to efficiently remove impurities, pollutants, or particles from a fluid. For instance, in February 2022, Netafim, a Maleshiya-based technology company, launched its new AlphaDisc filter, an innovative filtration system designed to protect irrigation systems against clogging caused by organic contaminants. This innovative filter offers high efficiency, precise depth filtration, high dirt-holding capacity, and a hyper-modular design, allowing easy scalability as growers’ needs evolve. Additionally, it features high efficiency, high dirt-holding capacity, a hyper-modular design, and a smart controller. These features collectively make this filter a vital resource for growers, especially in the face of challenges posed by deteriorating water quality due to climate change, pollution, and other factors, ultimately helping to improve growing conditions, reduce the risk of clogging, and increase crop yields.
The precision irrigation market covered in this report is segmented –
1) By Type: Sprinkler Irrigation, Drip Irrigation
2) By Offering: Solutions, Services
3) By End User: Agriculture, Residential, Turf And Sport Fields, Golf Courses, Parks, And Landscapes, Other End Users
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Regional Insights –
North America was the largest region in the precision irrigation market in 2023. The regions covered in the precision irrigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the precision irrigation market are Deere & Company, The Toro Company, Valmont Industries, Trimble Navigation Limited, Netafim Ltd, Rain Bird Corporation, Lindsay Corporation, Jain Irrigation Systems Ltd, Ewing Irrigation & Landscape Supply, Hunter Industries, Rivulis Irrigation Ltd, Reinke Manufacturing Company Inc, T-L Irrigation Co, Nelson Irrigation Corporation, Grodan B.V., Hydropoint Data Systems Inc, Cadman Power Equipment Ltd, Signature Control Systems Inc, Precision Lawn Irrigation Inc, Aquaspy Inc, CropMetrics LLC, Hortau Inc., Irrometer Company Inc, Mahindra EPC Industries Limited, AgSmarts Inc, Precision Irrigation Services Pvt Ltd
Table of Contents
1. Executive Summary
2. Precision Irrigation Market Report Structure
3. Precision Irrigation Market Trends And Strategies
4. Precision Irrigation Market – Macro Economic Scenario
5. Precision Irrigation Market Size And Growth
…..
27. Precision Irrigation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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