Global Precision Irrigation Market Assessment, By Type [Surface Drip Irrigation, Subsurface Drip Irrigation, Micro-Sprinkler Irrigation, Precision Mobile Irrigation, Variable Rate Irrigation, Fertigation], Crop Type [Field Crops, Plantation Crops, Orchards and Vineyards, Turf and Ornamentals], By Offering [Solutions, Services], By Site of Operation [On-Field, Controlled Environment Agriculture], By Region, Opportunities and Forecast, 2017-2031F

Precision Irrigation Market is projected to witness a CAGR of 9.7% during the forecast period 2024-2031, growing from USD 4.04 billion in 2023 to USD 8.47 billion in 2031.

Precision Irrigation Market - Growth Report & Industry Share 2031

Global precision irrigation market is projected to witness a&nbsp;CAGR of 9.7%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 4.04 billion&nbsp;in 2023 to&nbsp;USD 8.47 billion&nbsp;in 2031. The global precision irrigation market is experiencing robust growth driven by a confluence of factors that underscore the increasing need for efficient water management in agriculture. Rising concerns over water scarcity, coupled with the imperative to enhance agricultural productivity, have fueled the adoption of precision irrigation systems worldwide. The market is propelled by the imperatives to optimize water usage, minimize environmental impact, and meet the demands of a growing global population.
Precision irrigation leverages technology, such as sensors, automation, and data analytics, to precisely deliver water and nutrients to crops, tailored to their specific requirements. The targeted approach conserves water resources and improves crop yield and quality.
Moreover, the market is witnessing innovations like smart irrigation controllers, real-time monitoring, and cloud-based platforms that enable remote management of irrigation systems. These advancements empower farmers with data-driven insights, allowing them to make informed decisions for crop management. The integration of precision irrigation with other smart farming technologies, such as precision agriculture and the Internet of Things (IoT), further augments its efficiency and effectiveness. As sustainability becomes a focal point in agriculture, the global precision irrigation market is poised for continued expansion, driven by technological innovations that enhance water-use efficiency and contribute to the sustainable and resilient future of global agriculture.
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<h2 style="text-align: justify;">Technological Advancements&nbsp;</h2>
Technological advancements are propelling the global precision irrigation market to new heights. Innovations in sensors, artificial intelligence, and data analytics have revolutionized water management in agriculture. Smart sensors, equipped with real-time monitoring capabilities, enable farmers to gather precise information on soil moisture, weather conditions, and crop health.
Automation, driven by IoT integration, allows for precise control over irrigation systems, optimizing water distribution based on crop needs. Furthermore, cloud-based platforms facilitate remote monitoring and decision-making, enhancing overall farm efficiency. As the industry continues to invest in research and development, the ongoing evolution of technology ensures that precision irrigation remains at the forefront of sustainable agriculture, offering farmers sophisticated tools to enhance crop yields while conserving water resources.
For example, on February 16, 2024, CropX Technologies, a prominent figure within the group of digital agricultural innovations, collaborated with Reinke Irrigation to introduce Reinke Direct ET by CropX&mdash;an advanced water management tool designed specifically to enhance precision in farming practices. By integrating a sensor into Reinke's center pivot irrigation systems, the novel offering enables accurate Actual Evapotranspiration (ETa) estimations at the field level, providing real-time data without requiring further computational adjustments. Evapotranspiration is the sum of evaporation and transpiration, measuring water movement from the land surface to the atmosphere.&nbsp;
<h2 style="text-align: justify;">Global Expansion of Commercial Agriculture</h2>
The global expansion of commercial agriculture is a significant driver for the precision irrigation market. As agriculture becomes increasingly commercialized on a global scale, there is a growing demand for technologies that can enhance productivity and resource efficiency. Precision irrigation systems, with their ability to deliver water and nutrients precisely tailored to crop needs, align perfectly with the requirements of large-scale commercial farming operations. These systems optimize resource utilization, reduce costs, and contribute to higher yields, making them indispensable for modern commercial agriculture. The trend towards larger farming enterprises, especially in emerging economies, underscores the importance of precision irrigation technologies in meeting the challenges of scaling up agricultural production while promoting sustainability and environmental responsibility.
For instance, on October 11, 2023, WiseConn announced plans for expansion into European markets via their subsidiary, WiseConn Europe. With operational bases established in Trento, Italy, and Madrid, Spain, WiseConn Europe intends to assume leadership in precision irrigation across Europe while serving as a strategic ally in conserving water resources in agriculture sectors. The company's proprietary DropControl technology empowers farmers with enhanced water resource management capabilities, enabling them to better cope with the impacts of climate change. WiseConn already operates over 17,500 monitoring and control devices on approximately 300,000 hectares spread across countries such as Chile, the United States, Mexico, Peru, Australia, and Turkey.
<h2 style="text-align: justify;">Crop Yield Improvement&nbsp;</h2>
Precision irrigation is a key catalyst for crop yield improvement in the global agriculture landscape. By providing targeted and optimized delivery of water and nutrients, precision irrigation systems enable farmers to enhance overall crop health and productivity. The precise control over irrigation parameters ensures crops receive the right number of resources at the right time, minimizing water wastage and nutrient runoff. The tailored approach contributes to increased yields, improved crop quality, and efficient resource utilization. As global food demand continues to rise, the emphasis on maximizing crop yield becomes paramount, positioning precision irrigation as an essential technology for farmers seeking sustainable and effective methods to boost agricultural productivity while addressing resource constraints and environmental concerns.
For instance, on October 19, 2022, CropX implemented numerous irrigation systems across various global regions with diverse agricultural methods, encompassing pivots, furrows, and drips. Sugarcane, which is particularly susceptible to both water deficiency and excess, benefits significantly from precise irrigation techniques.
In addition to optimizing hydration, nitrogen management plays a vital role due to its necessity for healthy plant development while avoiding issues such as nutrient leakage or accumulation in the soil. To address these concerns, CropX's nutrition and salinity monitoring capabilities serve as valuable resources for sugarcane farmers worldwide. As a result, the technology has led to substantial improvements in yields an average increase of 70 percent, and enhanced profitability among sugarcane producers spanning three continents.
<h2 style="text-align: justify;">Government Regulations</h2>
Government regulations play a pivotal role in shaping the global precision irrigation market. Policies and standards set by governments worldwide often focus on sustainable water management practices, encouraging the adoption of precision irrigation technologies. Many regions offer financial incentives, subsidies, and support programs to promote the implementation of efficient irrigation systems. Additionally, regulations may address water usage, environmental impact, and the overall sustainability of agricultural practices. As the importance of water conservation and resource efficiency gain prominence, governments are increasingly recognizing precision irrigation as a strategic tool to achieve agricultural sustainability goals. Clear and supportive regulatory frameworks contribute to market growth, fostering an environment where precision irrigation technologies can flourish as essential components of modern and responsible agriculture.
For instance, The Per Drop More Crop (PDMC) scheme, which has been in effect since 2015-16, is being implemented by the Department of Agriculture &amp; Farmers Welfare in India. The initiative is focused on improving water use efficiency at the farm level through the adoption of Micro Irrigation systems such as Drip and Sprinkler Irrigation. These systems enable precise water application and help in reducing fertilizer usage through a process known as 'fertigation'. Additionally, the Indian Council of Agricultural Research (ICAR) has developed location-specific scientific technologies including rainwater harvesting and recycling, precision irrigation and farming practices, modern agronomic practices, and diversification of cropping patterns. Furthermore, ICAR provides training and organizes field demonstrations to educate farmers about these technologies and practices.
Future Market Scenario (2024 &ndash; 2031F)
The current agricultural tools are remarkable, but the future of precision agriculture holds a greater potential. To achieve this, it is essential to foster interdisciplinary collaboration between tech giants, researchers, agronomists, and farmers, bridging the gap between the worlds of technology and agriculture. As challenges continue to arise, innovative solutions will emerge, strengthening global food security and sustainability.
John Deere has transformed into a technology-focused organization that continuously adapts to the evolving farming industry. The company's operations center is a prime example of the shift, as it employs data analytics, Internet of Things (IoT), and machine learning to assist farmers in making informed decisions based on the evidence. John Deere's emphasis is no longer solely on machinery; instead, it is about seamlessly integrating technology into all aspects of agriculture.
Report Scope
&ldquo;Precision Irrigation Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global precision irrigation market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 9.7% between 2024 and 2031
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Revenue Forecast in 2031
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USD 8.47 billion
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Units
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Revenue in USD billion
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Segments Covered
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Type, Crop Type, Offering, Site of Operation
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Netafim Limited, Jain Irrigation Systems Ltd, The Toro Company., Valmont Industries, Inc., Lindsay Corporation., Rain Bird Corporation., Nelson Irrigation Corporation, Libelium Comunicaciones Distribuidas S.L., CropX Technologies Ltd., Chinadrip Irrigation Equipment Co., Ltd. &nbsp;
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global precision irrigation market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Type
<ul>
<li>Surface Drip Irrigation</li>
<li>Subsurface Drip Irrigation</li>
<li>Micro-Sprinkler Irrigation</li>
<li>Precision Mobile Irrigation</li>
<li>Variable Rate Irrigation</li>
<li>Fertigation</li>
</ul>
</li>
<li>By Crop Type
<ul>
<li>Field Crops</li>
<li>Plantation Crops</li>
<li>Orchards and Vineyards</li>
<li>Turf and Ornamentals</li>
</ul>
</li>
<li>By Offering
<ul>
<li>Solutions
<ul>
<li>Software</li>
<li>Hardware</li>
</ul>
</li>
<li>Services</li>
</ul>
</li>
<li>By Site of Operation
<ul>
<li>On-Field</li>
<li>Controlled Environment Agriculture</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The global precision irrigation market features a dynamic landscape with key players driving innovation and shaping the industry's outlook. The industry leaders focus on research and development to introduce cutting-edge products, including sensor-based systems, automated controllers, and cloud-based analytics. Collaborations and strategic partnerships are common strategies to expand market reach. With an increasing emphasis on sustainable agriculture and water conservation, the outlook for the global precision irrigation market remains positive, marked by ongoing advancements, strategic collaborations, and a collective commitment to addressing the evolving challenges in modern agriculture.&nbsp;
For instance, on January 22, 2024, the equipment and technology company, Lindsay Corp. launched a new user interface for its FieldNET platform, which is a part of a remote monitoring and control solution for center pivot irrigation systems of any brand. The new interface provides farmers with support ranging from routine monitoring to advanced agronomic recommendations for irrigation through FieldNET Advisor. The FieldNET NextGen user interface presents farmers and agricultural experts with clear and concise analyses of thousands of data points processed in real time.&nbsp;
For instance, on August 22, 2023, Netafim Africa, known for importing Israeli drip irrigation technology, has teamed with the Rwandan government, which has given USD 50 million in funding, to implement precision irrigation technology at the Gabiro Agribusiness Hub. The hub covering an area of 5,600 hectares of irrigable land, located in the arid Nyagatara region of eastern Rwanda with minimal irrigation and an annual rainfall of 800mm, was built to use water from the Akagera River to increase agricultural productivity in the region.&nbsp;
Key Players Operating in the Global Precision Irrigation Market are:
<ul style="text-align: justify;">
<li>Netafim Limited</li>
<li>Jain Irrigation Systems Ltd.</li>
<li>The Toro Company</li>
<li>Valmont Industries, Inc.</li>
<li>Lindsay Corporation</li>
<li>Rain Bird Corporation</li>
<li>Nelson Irrigation Corporation</li>
<li>Libelium Comunicaciones Distribuidas S.L.</li>
<li>CropX Technologies Ltd.</li>
<li>Chinadrip Irrigation Equipment Co., Ltd.</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
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Global Precision Irrigation Market Assessment, Opportunities and Forecast, 2017-2031F

Global precision irrigation market is expected to experience growth due to governments policies and regulations to support it, increase in crop production and innovations in technology for farmers.

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