Smart Irrigation Market

Market Leadership - Smart Irrigation Market

The smart irrigation market is estimated to be worth USD 1.0 billion in 2020 and projected to reach USD 2.1 billion by 2025, at a CAGR of 15.3%. The government initiatives undertaken for water conservation, growing smart cities, and need for efficient irrigation system to fuel the growth of smart irrigation systems. Moreover, the rising investments in the agriculture technology sector have propelled the growth the growth for smart irrigation management systems.

The Toro Company is one of the leading providers of innovative solutions, such as turf maintenance, landscape, irrigation, and other solutions, for the outdoor environment. The company has a huge irrigation product portfolio and is primarily focused on innovation and quality enhancement of products through research and engineering. The company’s products have received the US Environmental Protection Agency (EPA) WaterSense award, as well as the EPA WaterSense certification for numerous irrigation controller families and models. The Toro Company can expand its operations further from the US to other countries in order to reduce the dependency on a single market and to further mitigate the risk. COVID-19 has resulted in disruption of the economy in the US, which is a major source of revenue for the company; hence, it can cater to other growing markets in Europe and APAC.

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Netafim is one of the leading providers of drip and micro-irrigation solutions. Netafim pioneered the drip irrigation revolution, creating a paradigm shift toward low-flow agricultural irrigation. The company provides diverse solutions—from state-of-the-art drippers to advanced automated systems for agriculture, greenhouse, landscaping, and mining applications. The company is focused on expanding its product portfolio and business operations through partnerships, agreements, and collaborations with other companies. The impact of COVID-19 on the agriculture sector has been significant due to disruptions in the supply chain of equipment and other necessary components; however, the company has strived hard to provide essential agriculture infrastructure to growers by modifying their supply strategies.

Hunter is an established global leader in the development of residential, commercial, and golf course irrigation solutions as well as landscape lighting and custom manufacturing sectors. The company has a diversified product portfolio, which finds application in residential landscapes, stadiums, national landmarks, theme parks, city parks, commercial complexes, hotels, and municipal buildings around the world. Moreover, the company follows the strategy of innovative product launches and enhancements to compete and grow in the market. For instance, in January 2016, the company launched a pressure-regulated body for rotors. Hunter is also known to be a leader in outstanding customer service, product training, and technical support. The company can focus on collaborations and partnerships to ensure growth in the post-COVID-19 period. It can further use inorganic growth strategies such as mergers or acquisitions to gain a competitive advantage.

RainBird Corporation is one of the leading manufacturers and sellers of smart irrigation products. The company offers the broadest range of irrigation products for farms, golf courses, sports arenas, commercial developments, and homes in more than 130 countries around the world. The company has over 450 patents worldwide; it was granted the first patent in 1935 for the impact sprinkler. The company offers over 4,000 irrigation-related products, such as sprinkler heads, rotors, and computer-operated control systems. The company strongly focuses on R&D and new product development as its key strategies for growth. It has one of the largest in-house irrigation testing centers in the world. Rain Bird is engaged in spreading awareness and educating people on water conservation. For this, the company has taken measures such as launching Rain Bird’s teaching curriculum and Rain Bird’s Forest Learning Center (US). RainBird can offer integrated digital solutions for better irrigation management in agriculture as the agriculture sector is witnessing a boom due to developments in precision agriculture technology. COVID-19 has resulted in a shortage of labor; hence, the sector can witness automation in irrigation management.

HydroPoint is one of the leading players in the smart irrigation market. The company is primarily focused on offering innovative solutions that help minimize water and energy wastage and enhance irrigation productivity. For instance, in January 2016, it launched an upgraded WeatherTRAK Mobile App 2. The company also provides WeatherTRAK Central, which is the most powerful suites of smart irrigation applications, including smart irrigation manager, asset manager, drought compliance manager, water budget manager, and flow manager, in the industry. Hydropoint’s platform technology continuously collects and analyzes weather data, detects leaks, and monitors water usage. COVID-19 can be a catalyst for acceleration in demand of smart irrigation systems as it could lead to a wider adoption of remote sensing and farm management software, leading to automation of crucial farm processes like site specific irrigation scheduling. The company can leverage the technology to grow its existing portfolio of online platforms in other promising markets such as Brazil, China, and India as well as countries in Western Europe.

Related Reports:

Smart Irrigation Market by System Type (Weather-Based, Sensor-Based), Application (Smart Greenhouse, Open Field, Residential, Golf Courses, Turf & Landscape), Component (Controllers, Sensors, Water Flow Meters), and Geography - Global Forecast to 2025

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Report Code
SE 4267
RI Published ON
6/25/2020
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