Smart Irrigation Market -Overview
The prerequisite for real-time monitoring of irrigation system is foreseen to spur the smart irrigation market 2020. The sensor and control reports are made by Market Research Future, which comprises of market choices for advance. An 18.6% CAGR is predicted to enhance the revenue base to USD 1.87 billion in the upcoming period.
The limited availability of water resources for agriculture practices is estimated to enhance the smart irrigation technology market considerably in the impending period. The optimized use of water helps in reducing the wastage of water, and this is predicted to reinforce further the expansion of the smart irrigation market in the coming period.
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Segmental Analysis
The segmental asessment of the smart irrigation market is conducted on the basis of type, component, application, region and vertical. The application basis of segmenting the smart irrigation market comprises of soil management, water resource management and groundwater management. On the basis of regions, the smart irrigation market is segmented into Asia Pacific, North America, Europe, and other notable markets. Based on the component, the smart irrigation market is segmented into controllers, sensors, and fertilizer meter. On the basis of types, the smart irrigation market is divided into sensor-based controller system and weather-based controller system. Based on the vertical, the smart irrigation market is divided into non-agriculture and agriculture.
Detailed Regional Analysis
The regional examination of the smart irrigation market takes into account regions such as Asia Pacific, North America, Europe, and other notable markets. The regional smart irrigation market of North America is governing the smart irrigation market throughout the forecast period owing to the attendance of significant companies in this market, such as amongst other strong contenders in this region. The essential factors that are responsible for the growth in the demand for smart irrigation are the occurrence of primary technology adopters and escalated investment in the research and development section of smart irrigation by the nations such as the US and Canada in this region. The Asia Pacific smart irrigation market is anticipating to touch the uppermost CAGR in the forecast period owing to water conservation concerns and augmented implementation of digital expertise such as that of meters, and sensors for irrigation in nations of the Asia Pacific such as China and India. The escalation in the water crisis globally is predicted further to deepen the impetus for the smart irrigation market.
Competitive Analysis
The global market is estimated to be piloted by the forces of supply and demand that have taken over control. The contenders functioning in the market are predicted to take necessary steps to safeguard their commercial interests in the period ahead. The economic deceleration is projected to carry the continuation of the effects seen these days commonly. The transformation in the supply chain has to be strongly encouraged, so as to see positive effects with regards to market progress. The support from government bodies is estimated to promote further the long term expansion of the market in the upcoming period. The consumer trends that are of particular concern to demand are predicted to take time to stabilize in the aftermath of the current global pandemic. The investments related to marketing and R D are foreseen to be staggered seeing the current economic climate. However, the market is predicted to be hindered to an extent by the restrictions in international trade due to the pandemic.
The important contenders in the smart irrigation market are Rain Bird Corporation (US), Galcon (Israel), Hunter Industries (US), Netafim (Israel), Stevens Water Monitoring System (US), The Toro Company (US), Rachio (US), Weathersmatic (US), Banyan Water (US) to name a few.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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