Further, extended profitability and crop yield, increasing global food demand, and crop health monitoring for higher yield production are the significant factors fueling the growth of the precision Irrigation market. Also, government ambitions in many countries are helping farmers to use optimized agricultural and technological tools to improve their production levels. According to the publisher Report, Precision Irrigation Market will grow with a CAGR of 9.57% during 2020-2027.
Precision Irrigation Market will grow to US$ 16.44 Billion by 2027
Based on application, the Precision Irrigation market includes Agricultural Fields, Landscape & Turf Irrigation, Greenhouse, Residential and others. Precision irrigation is defined as applying a specific amount of water at the right time and in appropriate agricultural fields. It is a section of precision agriculture that further includes seeding, variable-rate nutrients and pesticide application
Moreover, drip irrigation is essential for controlling soil moisture, especially in the case of specialized greenhouse vegetables. Total automation of drip irrigation systems provides a simple, meticulous method for maintaining soil moisture and applying water. Effective time management, elimination of human errors, estimation, and adjusting available soil moisture levels are factors growing the demand for automatic drip irrigation systems
Precision Irrigation Market Size was US$ 8.67 Billion in 2020
Precision Irrigation manages temporal and spatial variability of crops like Field Crops, Vegetable corps, Orchard Crops, Vineyards and Other Crops. Precision agriculture was used in handpicked fruit orchards crops includes citrus, almonds, avocados, vineyards, apples, peaches, etc. Besides, the demand for vegetable crops is continuously increasing. Precision irrigation is among the most modern technologies for sustainable vegetable crops; as vegetable crops require ample amounts of water, farmers switch to sprinkler and drip irrigation systems to achieve higher crop productivity. Thus, increasing production of vegetable crops is demanded Precision irrigation
Regional Insights: Precision is getting popular in Europe & Gulf Cooperation Council (GCC) Countries
Precision sprinkling systems are gaining immense popularity in Europe, particularly in countries, like the United Kingdom and Germany. The U.K. was the first to appropriate precision irrigation, with France and Germany also rapidly adopting this technology. There is a vast potential for precision irrigation in the GCC, which invests heavily in innovative solutions to boost crop production by overcoming water scarcity
Aside from Europe and Asia-Pacific, North America is the key region for precision irrigation systems. Countries such as U.S. and Canada, the Americas are the early adopters of precision farming technologies, which is the main reason for the high share of this region in the precision farming market
Impact of COVID-19 on Precision Irrigation System
The Precision Irrigation market is expected to witness a marginal dip in 2020 due to the COVID-19 pandemic. The movement restriction and lockdowns have resulted in disruptions in the supply chain and led to a shortage of equipment. However, remote sensing and farm management software tools could lead to higher adoption during the post-COVID-19 period
This report Precision Irrigation Market, Global Forecast, By Type (Drip Irrigation, Sprinkler Irrigation and Others), Application (Agricultural Fields, Landscape and Turf Irrigation, Greenhouse, Residential and others), Crop (Field Crops, Vegetable corps, Orchard Crops, Vineyards and Other Crops), Region (North America, Europe, Asia- Pacific, South America, Rest of World), Company Analysis (Jain Irrigation Systems Ltd, Lindsay Corporation, The Toro Company and Valmont)studies the Precision Irrigation Industry
Type - Precision Irrigation Market breakup from 3 viewpoints
1. Drip Irrigation
2. Sprinkler Irrigation
3. Others
Application - Precision Irrigation Market breakup from 5 viewpoints
1. Agricultural Fields
2. Landscape and Turf Irrigation
3. Greenhouse
4. Residential
5. Others
Crop- Precision Irrigation Market breakup from 5 viewpoints
1. Field Crops
2. Vegetable corps
3. Orchard Crops
4. Vineyards
5. Other Crops
Region - Precision Irrigation Market breakup from 5 viewpoints
1. North America
2. Europe
3. Asia Pacific
4. South America
5. Rest of World
All key players have been covered from 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Analysis
1. Jain Irrigation Systems Ltd
2. Lindsay Corporation
3. The Toro Company
4. Valmont
Table of Contents
Companies Mentioned
- Jain Irrigation Systems Ltd
- Lindsay Corporation
- The Toro Company
- Valmont
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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