The study involved two major approaches in estimating the current size of the precision irrigation market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the market.
In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, food journals, certified publications, articles from recognized authors, directories, and databases were referred to identify and collect information.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after obtaining information regarding the precision irrigation market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, South America, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, research, and development teams, and related key executives from distributors and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to precision irrigation type, technology, component, end use, and region. Stakeholders from the demand side, such as farm associations, dealers, distributors, and government agencies, were interviewed to understand the demand side perspective on the suppliers, products, and their current usage of precision irrigation and the outlook of their business, which will affect the overall market.
Note: The three tiers of the companies are defined based on their total revenues in 2022 or 2023, as per the availability of financial data: Tier 1: Revenue > USD 1 billion; Tier 2: USD 100 million ≤ Revenue ≤ USD 1 billion; Tier 3: Revenue < USD 100 million.
COMPANY NAME
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DESIGNATION
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NETAFIM (Israel)
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Regional Sales Representative
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Rivulis (Israel)
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State Manager
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Valmont Industries, Inc. (US)
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Manager
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AZUD (Spain)
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Agronomist
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Mahindra Irrigation (India)
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Sales & Marketing Manager
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Lindsay Corporation (US)
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Sales Manager
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To know about the assumptions considered for the study, download the pdf brochure
Precision Irrigation Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the precision irrigation market. These approaches were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
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The key players in the industry and the overall markets were identified through extensive secondary research.
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All shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
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All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain final quantitative and qualitative data.
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The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as CXOs, directors, and marketing executives.
Precision Irrigation Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to estimate the overall precision irrigation market and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
According to Utah State University, precision irrigation involves technology and specialized equipment to improve the efficiency and effectiveness of agriculture irrigation management. This management process is beneficial in allocating water based on spatial variability throughout fields and can sometimes conserve water and improve crop quality.
Precision irrigation is a sustainable farming method that delivers water and nutrients directly to plants at the right time and location, in carefully controlled amounts. This approach ensures optimal growing conditions by providing plants with the necessary resources in a precise, timely manner. Precision irrigation might be used for a range of irrigation systems (sprinkler, drip, and others), including the appropriate sensing, control, and decision support requirements.
Stakeholders
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Supply side: Precision irrigation component manufacturers, drip irrigation technology providers, irrigation consultants & service providers, suppliers, and distributors
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Demand side: Farmers, agricultural warehouse owners, horticultural cooperative societies, importers, and exporters
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Regulatory side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
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Associations and industry bodies such as the Food and Agricultural Organization (FAO) - AQUASTAT, Environmental Protection Agency (EPA), the International Commission on Irrigation and Drainage (ICID), among others.
Report Objectives
MARKET INTELLIGENCE
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Determining and projecting the size of the precision irrigation market based on type, technology type, end use, and region from 2024 to 2029
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Identifying the attractive opportunities in the market by determining the largest and fastest-growing segments across the key regions
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Analyzing the demand-side factors based on the following:
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Impact of macro and microeconomic factors on the market
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Shifts in demand patterns across different subsegments and regions
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
The following customization options are available for the report:
PRODUCT ANALYSIS
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Product Matrix, which gives a detailed comparison of the product portfolio of each company.
GEOGRAPHIC ANALYSIS
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
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Further breakdown of the Rest of Europe precision irrigation market into key countries.
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Further breakdown of the Rest of Asia Pacific precision irrigation market into key countries.
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Further breakdown of the Rest of South America precision irrigation market into key countries.
COMPANY INFORMATION
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Detailed analyses and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Precision Irrigation Market