Smart Irrigation Market Size, Share and Growth Analysis

Updated on : October 22, 2024

Smart Irrigation Market Size & Growth

The smart irrigation market size is estimated to be worth USD 1.8 billion in 2024 and is projected to reach USD 3.0 billion by 2029, growing at a CAGR of 11.2% between 2024 to 2029.

The surging adoption of government initiatives for water conservation is one of the major drivers of the market. Furthermore, the decreasing costs of controllers and sensors provide growth opportunities in the smart irrigation market.

Smart Irrigation Market Forecast to 2029

To know about the assumptions considered for the study, Request for Free Sample Report

Smart Irrigation Market Trends and Dynamics

Driver: Surging adoption of government initiatives for water conservation

The surging adoption of government initiatives for water conservation is significantly driving the market growth of smart irrigation systems. These initiatives are aimed at promoting efficient water use to address the challenges of water scarcity and environmental sustainability. According to the US Environmental Protection Agency (EPA), residential outdoor water use in the US exceeds 9 billion gallons daily, primarily for landscape irrigation. The EPA estimates that up to 50% of this water is wasted due to overwatering caused by inefficient irrigation methods and systems. Irrigation control technologies can significantly reduce this waste by applying water only when plants need it. Therefore, many governments are implementing initiatives to promote sustainable water use. As a result, there is an increasing demand for smart irrigation solutions that can optimize water usage, reduce waste, and support sustainable agricultural practices.

Restraint: Connectivity issues in rural areas

Connectivity issues in rural areas significantly restrain the growth of the smart irrigation market. Smart irrigation systems rely heavily on stable internet and data connections to monitor and adjust watering schedules based on real-time data such as weather conditions, soil moisture levels, and plant water use. However, rural areas often face challenges with internet connectivity due to inadequate infrastructure, which hampers the effective implementation and operation of these advanced systems. In rural settings, many farms and agricultural lands are located in remote areas with limited access to high-speed internet or reliable cellular networks. This lack of connectivity can lead to delays in data transmission and hinder the seamless functioning of smart irrigation systems.

Opportunity: Decreasing costs of controllers and sensors

The decreasing costs of smart controllers and sensors, present significant future growth opportunities for the smart irrigation market. As technological advancements and increased production scale drive down prices, these systems become more accessible to a wider range of users, including small-scale farmers and residential property owners which thereby is expected to fuel the market growth of smart irrigation systems in the future. Furthermore, this trend will expand the accessibility and adoption of smart irrigation technologies across various sectors, promoting efficient water use and sustainable agricultural practices worldwide.

Challenge: Insufficiency of training and education

Insufficiency of training and education poses significant challenges to the market growth of smart irrigation systems. As these systems become more affordable and accessible, it is crucial that users understand how to effectively install, operate, and maintain them to fully realize their benefits. Lack of training and education can impose challenges such as improper installation and setup, where users may grapple with initial system configurations that will cause system malfunctions and inefficiencies and ultimately restrain its adoption. Additionally, inadequate system utilization arises when users are unfamiliar with optimizing the technology's full capabilities, such as tailoring settings to specific crop requirements and environmental conditions. Without this understanding, the systems may fall short of their potential which will diminish their value thereby hindering the market growth of smart irrigation systems.

Smart Irrigation Market Ecosystem

The prominent players in the smart irrigation market share are The Toro Company. (US), Rain Bird Corporation. (US), Netafim (Israel), HUNTER INDUSTRIES INC. (US), and HydroPoint (US). These companies perform organic and inorganic growth strategies to expand themselves globally by providing advanced smart irrigation systems.

Smart Irrigation Market Segmentation

Agricultural applications is expected to dominate the market during the forecast period.

The demand for smart irrigation systems in agricultural applications is expected to dominate the smart irrigation market during the forecast period. Key factors driving this growth include government initiatives promoting water conservation, increasing farming operating costs, decreasing costs of sensors and controllers, and a greater emphasis on enhancing farm productivity and profits through smart irrigation solutions.

Weather-based system type is projected to hold the largest market size during the forecast period.

The weather-based system type is projected to hold the largest smart irrigation market size during the forecast period. This is due to its growing popularity among homeowners, commercial building contractors, and managers of landscaping and golf courses. The rapid expansion of the non-residential sector has significantly boosted the demand for weather-based controllers. Additionally, the increasing need to adjust irrigation based on soil characteristics and water pressure is driving the market growth for weather-based systems during this period.

Smart Irrigation Industry Regional Analysis

North America region is expected to have the largest market size in the smart irrigation industry during forecast period

The North America is expected to have the largest smart irrigation industry size during the forecast period, primarily due to the early adoption of smart irrigation technologies in countries like the US and Canada. Many large-scale farmers in the region are already utilizing advanced technologies to significantly enhance crop production and improve crop management. North America also boasts the highest number of smart irrigation systems installed across farms, residential landscapes, and golf courses.

Smart Irrigation Market by Region

To know about the assumptions considered for the study, download the pdf brochure

Top Smart Irrigation Companies - Key Market Players

The major players in the smart irrigation companies include

• The Toro Company. (US), 
• Rain Bird Corporation. (US), 
• Netafim (Israel), 
• HUNTER INDUSTRIES INC. (US),
• and HydroPoint (US).

These companies have used both organic and inorganic growth strategies such as product launches, agreements, collaborations, partnerships, acquisitions, and expansions to strengthen their position in the market.

Smart Irrigation Market Report Scope

Smart Irrigation Market Highlights

The study segments the smart irrigation market based on component, system type, application, and region at the regional and global level.

Recent Developments in Smart Irrigation Industry

• In February 2024, HydroPoint launched its enterprise water solution, HydroPoint 360 which includes data insights, waste forecasting, and localized industry-specific best practices. It is currently being provisioned in limited release to qualified companies with multiple locations nationwide.
• In November 2023, HUNTER INDUSTRIES INC. launched the HYDRAWISE APP which is an irrigation management software that offers enhanced control and clarity to promote a healthy landscape with minimal effort.
• In November 2023, HydroPoint launched its new Baseline devices, SubStation RV and SubStation CP that allow wireless scalability for valve control and flow sensing. They provide networked wireless access for valve control and flow management in remote areas.
• In August 2023, Netafim signed a Memorandum of Understanding (MOU) with UAE-based E20 Investment form a future joint venture. This partnership aims to drive sustainable agriculture practices and advance precision irrigation solutions both in the UAE and globally that address food security challenges.?
• In June 2023, HUNTER INDUSTRIES INC. launched WIRELESS MINI-CLIK SENSOR that stops irrigation to save water without any wiring required.

Frequently Asked Questions (FAQs):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst