Dublin, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The "Precision Irrigation Market Report, Forecast by Type, Crop Type, Application, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The precision irrigation market around the world is expected to reach U $ 14.89 billion by 2032 up from US$ 6.53 billion in 2023, with a CAGR of 9.60% between year 2024 to 2032
Such growth is owed to increasing water deficits, enhanced IoT and sensor technology, more efficient agriculture techniques and requirements needed, and sustainable farming governmental policies. Altogether these affect better agricultural yields, fewer operational costs and exclusive water utilization thus assisting to form new markets. 
Precision irrigation is increasingly being adopted around the world due to the increasing scarcity of water and high use of irrigation in some world regions. Precision irrigation is extensively in use in high value fruits vegetables and vineyard in countries including United States of America, Israel and Australia. Countries of Asia and Africa particularly the emerging ones in the region are also seeking to adopt these methods to increase agricultural output and conserve meat.
In the current world where climate change and sustainable farming are some of the biggest concerns, precision irrigation is important for efficient use of water and thus reduce costs and improve food security. The use of precision irrigation technology is still escalating, and is in unison with the growing trends in world agriculture of adopting innovative and conservation-based approaches that enables farmers to feed the increasing population while saving water.
Driving Forces of the Precision Irrigation Market
Water Scarcity and Conservation:
Fresh water sources are gradually becoming scarce and hence is a growing problem internationally and particularly in agriculture where 70% of fresh water is used. Rain and drip watering equipment which are automation devices that enable watering of crops at the right time and place can cut down wastage of water. They can lead to water savings between 30-50% of that which is used in traditional applications. Water intensity is codominant with climate change; therefore, the more efficient aim of farming is, for instance, precision irrigation.
Thus, governmental organizations, agriculturists, and horticulturists are recommending precision irrigation as a water management strategy for sustainable development, so as to contribute to market expansion. WiseConn itself introduced a new product in the European market in 2023 to provide more irrigation management for agricultural operations, farms, and agribusiness to enhance water use efficiency and crop production and farm yields.
Technological Advancements in IoT and AI:
Precision irrigation has been transformed by the Internet of Things (IoT) and Artificial Intelligence (AI). Sensors attached to IoT check moisture level of the soil, weather, and crop conditions in real-time manner. This data is then analyzed by AI algorithms to make appropriate irrigation decisions for crops, and machine learning models used to forecast the crops water requirements. These technologies can also be connected to the automated irrigation systems to maintain total and proper control even through smartphone apps. This sets of technology have enhanced efficient use of water, increased crop productivity, and stimulated market for precision irrigation.
Increasing Focus on Sustainable Agriculture
Increasing demand for sustainable agriculture across the globe is boosting the growth of precision irrigation market. Precision irrigation can therefore be considered as in line with sustainable agriculture given that it minimizes the use of resources, the effects on the natural environment and maximizes yields. This also optimizes the use of fertilizer and also enable the farmers to farm under changing climatic conditions. The global market for precision irrigation technologies is also expected to grow due increasing rate at which governments across the world come up with policies supporting sustainable agriculture.
Asian Precision Irrigation Market
The Asia precision irrigation market has grown because of water deficiency and the need for more crop production. Computerized and efficiently water resources viz drip irrigation system and sprinkler system are famous at present for efficient use of water and increased production in agriculture.
Currently, China, India and Japan are still on the forefront in terms of use of precision irrigation that have been made possible by government incentives for water conservationism and smart agriculture. With respect to government policies favoring efficiency enhancement of the farm and water list progressive, precision irrigation in India is advancing. Market expansion is ignited by China's transformative economic strategy that aims to upgrade agriculture as well as to increase food production. Implementation of IoT, AI and data analytics in precision irrigation is now possible due to technological development and is hence feasible for small holder and large-scale farmer.
The consumer base for produce such as fruits and vegetables are expanding, and there is a greater emphasis on environmentally friendly farming techniques. Growth of the Precision Irrigation Market Current: Technological advancement in the agricultural sector around Asia remains to be the prime growth factors that are in a position to give a continual boost to the precision irrigation market as a whole in order to fulfill the objective to enhance the food security as well as the close resource conservation activities in the Asia continent.
Precision Irrigation Company Analysis
The companies that dominate the market and engage in precision irrigation production include Jain Irrigation Systems Ltd, Lindsay Corporation, The Toro Company, and Valmont. These firms have specialized in the design and supply of Intelligent Precision Irrigation Services, which in the highly efficient use of water resources as well as the improvement of crop yields in the agricultural sectors.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $6.53 Billion |
| Forecasted Market Value (USD) by 2032 | $14.89 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
Key Players Analysis:
- Jain Irrigation Systems Ltd
- Lindsay Corporation
- The Toro Company
- Valmont
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
4.3 Opportunities
5. Global Precision Irrigation Market
6. Market Share Analysis
6.1 By Type
6.2 By Crop Type
6.3 By Application
6.4 By Countries
7. Type
7.1 Sprinkler Irrigation
7.2 Drip Irrigation
7.3 Others
8. Crop Type
8.1 Field Crops
8.2 Vegetable corps
8.3 Orchard Crops
8.4 Vineyards
8.5 Other Crops
9. Application
9.1 Agricultural Fields
9.2 Landscape and Turf Irrigation
9.3 Greenhouse
9.4 Residential
9.5 Others
10 Countries
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherland
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 UAE
11. Porter's Five Forces Analysis
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Rivalry
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis
12.1.1 Strength
12.1.2 Weakness
12.1.3 Opportunity
12.1.4 Threat
For more information about this report visit https://www.researchandmarkets.com/r/svluwl
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