Global Smart Irrigation Market is valued at $0.47 billion in 2015 and is expected to grow at a CAGR of 18.14% to reach $1.51 billion by 2022. Rising demand for food production, growing need for water conservation and decrease in the resource wastage are the key factors driving the market growth. However huge capital investment and lack of awareness are some of the factors hampering the market. Adoption of irrigation drones provides plenty of opportunities for the players in the market. Design issues pose a major challenge to the market especially in developing nations.
Weather-based irrigation controllers commanded the market based on irrigation controllers. Demand for sensors is anticipated to remain the highest in by hardware and components owing to increased productivity and profitability of land and crop with the effective utilization of these sensors. North America has shown a productive growth owing to the active participation of governments in the region by providing rebates and subsidy to enhance the application of smart irrigation. The key players in the market adopted various strategies such as new product launches, partnerships, joint ventures, and business expansion to cater to the needs of the market.
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Some of the key players in global Smart Irrigation market are Weathermatic, The Toro Company, Rain Bird Corporation, Rachio Inc., Netafim, Hydropoint Data Systems, Hunter Industries, Galcon, Calsense and Baseline Inc.
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