Precision irrigation provides with the combination of systems and solutions in order to efficiently utilize water by matching the irrigation inputs to yields in each area of a field. The global precision irrigation market is estimated to witness a growth at a CAGR of 7.2% over the period of 2015 to 2020. This growth in the market is accredited to the benefits of water conservation, emerging modern technologies, and its advantages over traditional irrigation. Precision irrigation showcases a significant potential in enhancing the crop yield with available limited resources.
The report is a compilation of different segments of Global Precision Irrigation Market including market breakdown by systems, applications, and market dynamics. Herein the revenue generated from the main segments of the market, i.e. Center pivots, is tracked to calculate the market size along with a detailed explanation of other hardware and services shaping the market. While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive section of the application areas of the precision irrigation systems and solutions. It also details the key participants involved in the industry.
The report answers the following questions about the Global Precision Irrigation Market:
What are the prevailing hardware, software & services used in precision irrigation?
The constraints of limited water and land resources for irrigation purposes generate the need for precision irrigation, which, in turn, fulfills these needs by offering improved yields, energy savings and reduced water pumping costs through its hardware, software, & services. The market is estimated to reach $1,238.02 million by 2020 at a CAGR of 7.2% through the forecast period. Even though the precision irrigation techniques are much costlier to their counterparts, and that the time required & difficulty in installing the systems is quite high, factors such as benefits over traditional irrigation, emerging technologies and government support are driving the market towards growth.
Source: Secondary research, Annual Reports, SEC Filings, Investor Presentations, Articles, Expert Insights, and BIS Research Analysis
The Precision Irrigation market has been tracked along the lines of its systems, application areas, and geography. Herein the revenue generated from the main segment of the market- center pivots, is tracked in order to calculate the market size along with details of other hardware and services shaping the market. Revenue generated from various application areas namely- agriculture, public parks & lawns, sports grounds, and greenhouses & nurseries have been analyzed. The report also covers the precision irrigation market on a global scale, and consequently provides revenue data of the key regions. A separate segment has been made for the key global regions: North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW).
The hardware segment is divided into drip irrigation, sprinkler irrigation and sensors; while the service market includes services related to data collection, installation, maintenance, and variable rate irrigation. The section of sensors and its type describes how these assist in measuring the environmental conditions and directing the process of irrigation accordingly.
Precision Irrigation is a technique used in agriculture to increase the crop yield with the available land and water resources to reduce environmental effects. Some other areas where precision irrigation is used extensively are public parks, large gardens and household lawns. Moreover, to ensure a good grip and traction on the sports field and to improve the process of nutrient management in greenhouses & nurseries, precision irrigation technology is usually preferred by the users. The reason behind the agricultural application dominating the market currently and in the forecast period is the abundance of global agricultural land area.
The analysis has identified that North America was the largest revenue generating segment in 2014, the reason being the fact that it includes both the developed nations of the U.S. and Canada which favors a high degree of investments in key areas than any other region. Since APAC holds 60% of the world’s irrigated land and major countries such as India and China are predominantly involved into agriculture, it is the next region leading in the precision irrigation market after North America. Middle East & Africa (MEA) has the least contribution in precision irrigation market due to the limited water resources and increasing desertification in this region.
Some of the key players in the industry are Valmont Industries, Lindsay Corporation, Reinke Manufacturing, T-L Irrigation, and Trimble Navigation among others. These companies are aiming for more mergers & acquisitions and product launches to expand their market and stop the new entrants from entering.
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