The precision irrigation market size is expected to see rapid growth in the next few years. It will grow to $15.4 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The forecasted growth in the upcoming period can be linked to the imperative need for climate change adaptation, the increasing demand for sustainable agricultural solutions, the wider adoption of smart agriculture practices, and the growing acknowledgment of the interdependency between water and agriculture. Key trends anticipated in the forecast period involve deeper integration with digital farming platforms, the development of advanced water management solutions, incorporation into climate-smart agriculture practices, optimization of the water-energy nexus, and the utilization of IoT and sensor technologies.
The escalating demand for agricultural products is anticipated to drive growth in the precision irrigation market. Agricultural products, which encompass goods or commodities cultivated through farming practices, are witnessing increased demand due to various factors such as population growth, dietary shifts, biofuel production, urbanization, and concerns regarding food security. Precision irrigation technology plays a pivotal role in the agricultural sector by delivering water to crops with precision and efficiency, thereby optimizing water usage, minimizing water wastage, and enhancing crop yields. For example, reports published by Agriculture and Agri-Food Canada in January 2023 highlighted a significant increase of 34.1% in Canada's total field crop production compared to 2021, with wheat production (excluding durum) experiencing a notable 47% surge, reaching 28.4 million metric tons in the 2022-23 period. This underscores the critical role of precision irrigation in meeting the growing demands of the agriculture sector.
Key players in the precision irrigation market are focusing on developing innovative filtration systems tailored for irrigation purposes, such as AlphaDisc filters, to enhance the protection of irrigation systems against clogging caused by organic contaminants. AlphaDisc filtration systems utilize advanced technology and designs to efficiently remove impurities and particles from fluids. For instance, Netafim launched its AlphaDisc filter in February 2022, featuring high efficiency, precise depth filtration, and a hyper-modular design for easy scalability. This innovative filter addresses challenges posed by deteriorating water quality, pollution, and climate change, thereby improving growing conditions, reducing the risk of clogging, and ultimately increasing crop yields.
In January 2023, CropX Technologies bolstered its presence in the agricultural technology industry through the acquisition of Tule Technologies, aimed at enhancing its irrigation solutions and farm management tools, particularly in California. Tule Technologies, a US-based precision irrigation company, specializes in developing automated irrigation management platforms for site-specific irrigation. This strategic acquisition enables CropX Technologies to expand its footprint in key agricultural regions, enrich its data for more robust farm management solutions, and strengthen its position as a leader in precision irrigation technology.
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.
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.
The countries covered in the precision irrigation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Precision irrigation revolutionizes agricultural practices by delivering water and nutrients precisely to plants, enhancing efficiency and sustainability. This method employs advanced technologies to optimize water usage, minimize waste, and improve crop yield and quality, aiding farmers in boosting productivity while conserving water resources.
Two primary types of precision irrigation are sprinkler and drip irrigation. Sprinkler irrigation disperses water through a network of pipes, pumps, and sprinkler heads, providing solutions and services for various end-users including agriculture, residential areas, turf and sports fields, golf courses, parks, and landscapes.
The precision irrigation market research report is one of a series of new reports that provides precision irrigation market statistics, including precision irrigation industry global market size, regional shares, competitors with a precision irrigation market share, detailed precision irrigation market segments, market trends and opportunities, and any further data you may need to thrive in the precision irrigation industry. This precision irrigation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The precision irrigation market consists of revenues earned by entities by providing services such as site assessment, soil moisture monitoring, weather monitoring, data analysis, and water resource management. The market value includes the value of related goods sold by the service provider or included within the service offering. The precision irrigation market also includes sales of drip irrigation systems, micro-sprinklers and sprayers, soil moisture sensors, smart controllers, smart irrigation controllers, and fertigation equipment. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Precision Irrigation Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on precision irrigation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for precision irrigation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The precision irrigation market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Sprinkler Irrigation; Drip Irrigation2) By Offering: Solutions; Services
3) By End User: Agriculture; Residential; Turf And Sport Fields; Golf Courses, Parks, And Landscapes; Other End Users.
Key Companies Mentioned: Deere & Company; The Toro Company; Valmont Industries; Trimble Navigation Limited; Netafim Ltd
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | May 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 9.23 Billion |
Forecasted Market Value ( USD | $ 15.4 Billion |
Compound Annual Growth Rate | 13.7% |
Regions Covered | Global |