Precision irrigation is expected to achieve a market value of $4.2 billion by 2030

Meticulous Research®, a leading global market research firm, has published a study titled 'Precision Irrigation Market,' which explores solutions and services, irrigation methods (including sprinklers, drip, surface), and end-user sectors (such as agriculture, turf & sports fields, residential) with global forecasts extending to 2030.

According to the latest findings by Meticulous Research®, the precision irrigation market is poised to reach $4.2 billion by 2030, growing at a CAGR of 11.7% during the forecast period. Driving factors include a heightened focus on water efficiency and conservation, increasing adoption of precision irrigation to bolster crop yield and quality, and governmental support through policies and subsidies that offer low-interest loans for precision irrigation systems. However, substantial upfront costs and ongoing maintenance requirements related to hardware, software, and infrastructure pose challenges to market expansion. Nevertheless, investments in sensor-based technologies and automated irrigation controls are expected to unlock new growth opportunities. Challenges persist, particularly in rural areas where connectivity issues hinder implementation. Notable trends in the precision irrigation market include the growing integration of machine learning and artificial intelligence technologies.

The precision irrigation market is segmented by offerings (including software, hardware, services), irrigation types (such as surface, sprinklers, drip, center pivot, others), end users (encompassing agriculture—field crops, orchards, vineyards, greenhouse applications; residential, turf & sports fields, golf courses, parks, landscapes, others), and geographical regions. The study also includes competitive analysis across regional and national scales.

Based on offering, in the precision irrigation market, there are two primary segments: solutions and services. By 2023, the solutions segment is expected to dominate the market. This growth is driven by the increasing adoption of precision irrigation solutions aimed at enhancing crop yield and quality. Key factors contributing to its market leadership include growing awareness of environmental concerns prompting farmers to adopt precision irrigation practices, the expansion of large-scale agricultural operations, and the necessity to conserve water, energy, and labor costs. Additionally, the segment benefits from advancements in data-driven insights related to soil moisture and weather conditions. Furthermore, it is projected to achieve the highest compound annual growth rate (CAGR) during the forecast period.

Based on irrigation type, the precision irrigation market encompasses various categories, including surface irrigation, sprinkler irrigation, drip irrigation, center pivot irrigation, and other forms of irrigation. By 2023, the sprinkler irrigation segment is poised to lead the market. This dominance is driven by several factors: increasing demand for cost-effective irrigation solutions, efficient water distribution achieved through uniformity, the need to protect crops from high temperatures, and the expanding adoption of sprinkler systems in high-value crops like coffee, cardamom, and orchards. Furthermore, this segment is expected to maintain the highest compound annual growth rate (CAGR) throughout the forecast period.

Based on end user, the precision irrigation market encompasses various segments, including agriculture, residential areas, turf and sports fields, golf courses, parks, landscapes, and other user groups. By 2023, the agriculture segment is anticipated to dominate the precision irrigation market. This leadership is fueled by efforts to maximize efficiency and productivity through optimized utilization of resources such as water and fertilizer. Initiatives aimed at minimizing environmental impact by reducing soil erosion and water pollution further bolster the segment's growth. Additionally, there is a growing demand for precise and targeted water application in agriculture to support crop growth, landscape maintenance, and soil health restoration. Moreover, the agriculture segment is projected to achieve the highest compound annual growth rate (CAGR) throughout the forecast period.

Based on geography, he precision irrigation market is regionally segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. By 2023, Asia-Pacific is poised to emerge as the frontrunner in the precision irrigation market. This leadership is driven by several factors: a pressing need to boost crop yields and meet growing agricultural demands, governmental initiatives supporting sustainable farming practices and water conservation, advancements in agricultural technology across the region, and diverse climatic conditions conducive to the adoption of precision irrigation for efficient water management and crop cultivation. Moreover, Asia-Pacific is expected to achieve the highest compound annual growth rate (CAGR) throughout the forecast period.

Key Players:

Key players in the precision irrigation market include Netafim Limited (Israel, a subsidiary of Orbia Advance Corporation, S.A.B. de C.V.), Deere & Company (U.S.), Jain Irrigation Systems Ltd. (India), Lindsay Corporation (U.S.), Nelson Irrigation Corporation (U.S.), Saturas Ltd. (Israel), The Toro Company (U.S.), Valmont Industries Inc. (U.S.), T-L Irrigation Co. (U.S.), Viridix Ltd. (Israel), Mahindra EPC Irrigation Limited (India), Chinadrip Irrigation Equipment Co. Ltd. (China), Libelium Comunicaciones Distribuidas S.L. (Spain), CropX Technologies Ltd. (Australia), and ONDO (Balkans).

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Key questions answered in the report.

· Which segments exhibit substantial growth opportunities concerning product offerings, irrigation techniques, target markets, and global regions?

· What has been the historical performance of the precision irrigation sector?

· What are the market forecasts and projections from 2023 to 2030?

· What are the key drivers, constraints, opportunities, challenges, and emerging trends shaping the precision irrigation market?

· Who are the leading players in the precision irrigation sector, and what market shares do they hold?

· How does the competitive landscape appear within the precision irrigation market?

· What recent advancements have occurred in precision irrigation technology?

· What strategies have major players implemented in the precision irrigation market?

· What notable regional trends exist, and which countries are experiencing significant market growth?

· Who are the emerging local contenders in the precision irrigation market, and how do they compete with established firms?

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