Precision irrigation can be defined as irrigation systems that apply water more accurately as opposed to the traditional irrigation methods and sprinkler systems. These systems are typically used along with a control and management system which is responsible for the amount of water and fertilizers to be applied to crops/plants. The overall system is equipped with various sensors that accumulate data related to the moisture content, evapotranspiration and other crucial parameters. Irrigation equipment such as drip irrigation, center pivot, linear move and micro sprinklers. The significance of these irrigation systems is the water application close to the roots of crops/plants based upon environmental conditions.

Modernizing agriculture practices is the most significant factor fueling the precision irrigation systems market growth. The trend of using automated irrigation systems is one rise and is estimated to witness strong growth in the coming years. This is another major factor supporting the market growth. Further, with the rising water scarcity concerns, people are increasingly turning towards water efficient irrigation systems. Nevertheless, the market growth is significantly hampered by the high initial costs of these irrigation systems as compared to the conventional irrigation systems. Additionally, the precision irrigation systems require significant technical knowhow which becomes another concern for the market growth.

The report titled “Global Precision Irrigation Systems Market- Growth, Share, Opportunities and Competitive Analysis, 2016 – 2023” offers strategic insights into the global precision irrigation systems market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on types, components, applications and cross-sectional study across different geographies. Based upon the components, the market is further segmented into irrigation equipment and control and management system. The study covers the comparative analysis of different segments for the years 2015 & 2023. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.

In order to help strategic decision makers, the report also includes competitive profiling of the leading precision irrigation system manufacturers, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis, market positioning and key developments. Some of the major players profiled in the report are Netafim Ltd., Toro Company, Hunter Industries, Inc., Valmont Industries, Inc., Jain Irrigation Systems Ltd., Lindsay Corporation and others. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the irrigation industry
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2014 – 2015)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global precision irrigation systems market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.

Irrigation Equipment Type Segmentation Analysis 

The precision irrigation system comprises irrigation equipment and control system for desired operation. Currently, drip irrigation and center pivot are the most popular types of irrigation equipment used in the precision irrigation systems market. The two systems offer the highest water efficiency and hence are preferred in the precision irrigation system. Companies such as Netafim Ltd. and Valmont Industries, Inc. focus on providing more efficient and automated drip irrigation and center pivot systems, respectively. Subsequently, the segments are estimated to continue dominating the market throughout the forecast period. Linear move and micro sprinklers segments are projected to register the highest growth during the forecast period.

As of 2015, the global precision irrigation systems market was dominated by the agriculture application segment accounting for more than forty percent of the total revenue generated worldwide. The overall precision irrigation systems market is dominated by the North America and Europe regions. The regions possess strong penetration of both center pivot as well as drip irrigation systems into the agriculture sector. Since these are the most widely used irrigation equipment for precision irrigation, the agriculture segment is estimated to retain its dominant position in the market throughout the forecast period.

The non-agricultural segment is estimated to register the highest growth in the market during the forecast period. The segment comprises sports grounds, large gardens, landscapes, turfs and residential applications. The demand for automated irrigation is strong from the sports grounds and landscapes segment. Thus, the overall non-agriculture segment is projected to witness strong adoption of precision irrigation systems in the forecast period.

The global precision irrigation systems market is dominated, in terms of revenue, by the North America region. As of 2015, the region contributed to more than forty percent of the total market revenue generated worldwide. The market here is mainly backed by the strong penetration of precision irrigation systems in the U.S. across different applications. Center pivot is the most commonly used irrigation system in the U.S., followed by drip and linear move irrigation system.

The precision irrigation system market revenue in North America market is followed by Europe, in terms of revenue and adoption. Nevertheless, the Asia Pacific region is estimated to emerge as fastest growing market for precision irrigation systems in the coming years. The growth is majorly expected to from the modernizing irrigation sector in China and India. Other major markets for precision irrigation systems include Western Europe, Israel, Turkey and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Precision Irrigation Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Precision Irrigation Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Precision Irrigation Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Precision Irrigation Systems market?
• Which is the largest regional market for Precision Irrigation Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Precision Irrigation Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Precision Irrigation Systems market worldwide?