About this market
With the increasing adoption of irrigation drones, there is a growing demand for smart irrigation systems. One of the latest trends in the global smart irrigation systems market is the rise in adoption of drones by farmers for irrigation as these drones are equipped with hyperspectral or thermal sensors, which allow them to identify parts of the field that dry and require water. The use of smart irrigation systems with drones can change the agricultural process to a more efficient one, allowing farmers to track the land and property at all times. Technavio's analysts have predicted that the smart irrigation systems market will register a CAGR of almost 16% by 2022.
Growing focus on optimal water use
Vendors in the market are developing products to reduce the wastage of water in the agricultural sector. Smart irrigation systems offer various benefits pertaining the optimal use of water resources which is driving the growth of the market.
Lack of electricity supply and appropriate infrastructure
Globally, almost 13% of the population struggles to receive access to electricity daily and most of these population resides in underdeveloped countries in Africa and Asia which limits the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the smart irrigation systems market during the 2019-2023 period, view our report.
The market appears to be fragmented and with the presence of several companies including Hunter Industries and HydroPoint Data Systems, the competitive environment is quite intense. Factors such as increasing adoption of irrigation drones and the growing focus on optimal water use, will provide considerable growth opportunities to smart irrigation system companies. Hunter Industries, HydroPoint Data Systems, NETAFIM, Rain Bird, and The Toro Company are some of the major companies covered in this report.