The report suggests that the market is expected to grow at a CAGR of 14.84% between 2022-2027
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Precision Irrigation Market – A Global and Regional Analysis.
According to this study, the global precision irrigation market was valued at $2.23 billion in 2022 and is projected to reach $4.47 billion by 2027, growing at a staggering CAGR of 14.84%.
The following factors are responsible for the increase in demand for precision irrigation:
- Need for optimal water usage in agriculture
- Decreasing labor force in agriculture
- Increasing adoption of fertigation and chemigation
The detailed study is a compilation of 287 market data tables and 27 figures spread through 287 pages.
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Analyst’s Take on the Market Projection
According to Debraj Chakraborty, Principal Analyst, BIS Research, “Precision irrigation can increase crop yields because well-watered plants are more likely to thrive and yield a larger crop. Precision irrigation can also improve nutrient and disease management, result in healthier crops and higher yields, and aid in the better management of other valuable resources. Precision irrigation is likely to remain a crucial tool for farmers in the upcoming years as climate change concerns among farmers increase on a global scale.”
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Major Existing Industry Leaders in the Global Precision Irrigation Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are:
- Holman Industries
- HUNTER INDUSTRIES
- Jain Irrigation Systems Ltd.
- Lindsay Corporation
- Nelson Irrigation
- Rachio inc.
- Rain Bird Corporation
- The Toro Company
- Valmont Industries, Inc.
- Trimble Inc.
- Prospera Technologies
- CropX Inc.
- Acuity Agriculture
Recent Developments in the Global Precision Irrigation Market
- In June 2022, Rivulis and Jain Irrigation Systems Ltd.’s subsidiary Jain International Trading merged with an aim to have definitive transaction agreements.
- In May 2022, HUNTER INDUSTRIES launched a 12″ eco-indicator that offers greater visibility from a distance. Eco-Indicator makes it quicker and easier to verify system operation from afar. The rugged 12″ device also provides a convenient visual signal when the system is pressurized also running. Its further elevated height offers a clear line of sight over tall shrubs, flowers, as well as grasses.
- In March 2022, HydroPoint and Aliaxis partnered for smart water management. Through this partnership, Aliaxis and HydroPoint joined forces in the field of smart irrigation systems along with leak and flow monitoring services for the building industry. The new partnership would further allow both companies to build upon each other’s strengths.
- In February 2022, CALSENSE introduced irrigation management as a service or IMaaS. IMaaS consists of a unique and valuable way of irrigation management, which removes the need for customers to secure funds for purchasing smart irrigation controllers, sensors, and software.
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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