The
combination of the Internet of Things (IoT) and AI technologies, such as
machine learning, computer vision, and predictive analytics, further allow
farmers to analyze real-time data of weather conditions, temperature, soil
moisture, and plant health.
The
smart irrigation market is currently in the introductory growth phase and is
expected to witness growth in the future owing to the increasing role of
technology in irrigation management. The smart irrigation market was valued at
USD 0.83 billion in 2018 and is expected to reach USD 1.76 billion by 2023, at
a CAGR of 16.30% during the forecast period. Major factors contributing to the
growth of the smart irrigation market include initiatives undertaken by various
governments to promote water conservation, increasing adoption of smart
irrigation controllers, and growing emphasis on increasing farm productivity
and profits using smart irrigation solutions. However, the implementation of
smart irrigation technologies in fragmented land and the lack of awareness
related to smart irrigation among farmers restrain the smart
irrigation market growth.
Increasing
adoption of ICT-based decision support systems on the farm
ICT-based
decision support systems, along with real-time data, can provide information
covering all the aspects of farming at a granular level, which was not possible
earlier. This enables improved decision-making, reduced water wastage, and
increased efficiency at farms. With the help of smart controllers and sensors,
farmers can ensure the supply of the right amount of water at right time in the
farm. Smart irrigation comprises specialized hardware devices, software, and
services used to obtain real-time data to help farmers make effective decisions
pertaining to their farms. The combination of the Internet of Things (IoT) and
Artificial Intelligence (AI) technologies, such as machine learning, computer
vision, and predictive analytics, further allow farmers to analyze real-time
data of weather conditions, temperature, soil moisture, and plant health.
Growth
of smart cities and need for efficient irrigation systems
The
growing importance of efficient watering practices and irrigation solutions for
non-agricultural applications, such as residential, turf and landscape, and
golf courses, is a major factor driving the growth of this market. Smart city
is the ongoing trend across the major parts of the world. Smart cities focuses
on the efficient management of water in commercial as well as residential
spaces. The adoption of smart irrigation controllers is expected to increase
exponentially in smart cities in coming years. Therefore, the growth of smart
cities is expected to generate opportunities for players involved in the smart
irrigation controller market. A few countries around the globe are
characterized by extreme weather conditions. Irrigation systems in such regions
need to be highly efficient. Smart irrigation systems with advanced soil and
weather sensors can deliver high efficiency compared with conventional
irrigation systems.
Americas
to dominate the smart irrigation market
Americas
accounts for a substantial share of the global smart irrigation market in 2018,
wherein the US and Canada is considered to be the major contributors. The
Americas accounted for a major share of ~47% of the smart irrigation market in
2018, and the same trend is expected to follow during the forecast period. The
Americas held the largest market share owing to the early adoption of smart
irrigation technologies by countries such as the US and Canada. The Americas has
the highest number of smart irrigation systems installed at farms, residential
landscapes, and golf courses. This region is home to several major players in
the smart irrigation market; some of these are The Toro Company (US), Hunter
Industries (US), Rain Bird Corporation (US), HydroPoint (US), Rachio (US),
Banyan Water (US), and Rain Machine (US). These companies have contributed to
the growth of the smart irrigation market in the Americas by launching
innovative products and services and spending extensively on the R&D of
smart irrigation technology.
Partnerships,
agreements, mergers & acquisitions emerged as key growth strategies adopted
by companies between 2016 and 2018
Major
players, operating in the smart irrigation market, have adopted strategies such
as acquisitions, partnerships, and product launches and developments to achieve
the growth. For instance, HydroPoint acquired Baseline, Inc. (US), a smart
irrigation technology provider, in 2016. This acquisition strengthened
HydroPoint smart water management technology portfolio and also helped in
expanding its geographic footprint. Moreover, the company launched a
pressure-regulated body for rotors in January 2016. This new product would
assist in minimizing the pressure of rotor to enhance efficiency and minimize
water wastage. Some of the major players in the smart irrigation market are The
Toro Company (US), Netafim (Israel), Hunter Industries (US), Rain Bird
Corporation (US), HydroPoint (US), Rachio (US), Banyan Water (US), Rain Machine
(US), ET Water (US), Galcon (Israel), Weathermatic (US), Blossom (US), Skydrop
(US), Delta-T Devices (UK), Calsense (US), AquaSpy (US), Soil Scout (Finland),
Caipos (Austria), Acclima (US), and Rain Machine (US).
Conclusion
Internet
of Things (IoT) can play a vital role in increasing productivity of farm on per
acre basis through site specific irrigation management. With the use of smart
controllers, and sensors in farms and farming machineries, IoT-based smart
irrigation offers real-time data and analytics, which enables farmers or
growers to take corrective actions at right time. Hence, IoT is the most
reliable approach for monitoring and predicting critical variables such as
water quality, ambient temperature and moisture, and soil condition, which
impacts the crop quality, yield, and the returns. Thus, IoT-based smart
irrigation practice has the potential to transform the traditional irrigation
method by making it more efficient and productive.
