Market Size of Precision Irrigation Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.94 Billion |
| Market Size (2029) | USD 7.47 Billion |
| CAGR (2024 - 2029) | 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Precision Irrigation Market Analysis
The Precision Irrigation Market size is estimated at USD 4.94 billion in 2024, and is expected to reach USD 7.47 billion by 2029, growing at a CAGR of 8.5% during the forecast period (2024-2029).
- Water scarcity poses a significant challenge, driving the long-term adoption of precision irrigation systems. As consumer demand grows, the need for artificial irrigation has surged to secure high crop yields. Additionally, the consolidation of farmlands globally enables farmers to invest in costly systems like precision irrigation, further propelling the market.
- Technological developments are further catalyzing the expansion of the market across various regions. For example, in 2020, Nelson Irrigation Corporation introduced the R55VT and R75 End of Pivot Sprinklers, which can be easily attached to any center pivot system, excluding the impact pivot sprinklers. As technology is made affordable and efficient, the adoption rate of precision irrigation machinery is anticipated to increase. This is expected to increase the growth of the market during the forecast period. However, precision irrigation systems such as drip and sprinkler systems come with technical complexities, and the steep installation costs of these systems are hindering their widespread adoption.
- Moreover, due to favorable government policies regarding low-interest loans and subsidies for implementing modern and advanced precision irrigation systems, the precision irrigation market is likely to increase quickly in developing markets such as South America and Asia-Pacific in the coming years. Increasing awareness and high adaptability of new technologies in Asia-Pacific are driving market growth at a rapid pace.
Precision Irrigation Industry Segmentation
Precision irrigation is an innovative and sustainable agricultural method that delivers water and nutrients to the plant at the precise time and location in small, measured quantities, providing optimal growing conditions. The precision irrigation market is segmented by type (drip irrigation, sprinkler irrigation, and other types), crop type (field crops, plantation crops, orchards and vineyards, and turf and ornamentals), and geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market estimation and forecasts in terms of Value (USD) for all of the above segments.
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Precision Irrigation Market Size Summary
The precision irrigation market is poised for significant growth, driven by the increasing need for efficient water management solutions in agriculture. As water scarcity becomes a pressing issue globally, the demand for advanced irrigation systems that ensure high crop yields is on the rise. The consolidation of farmlands allows farmers to invest in sophisticated systems like precision irrigation, which is further bolstered by favorable government policies offering subsidies and low-interest loans. The market is experiencing robust expansion in regions such as Asia-Pacific and South America, where awareness and adaptability to new technologies are high. The sprinkler irrigation segment leads the market, supported by innovations that reduce labor costs and enhance productivity. Automatic drip irrigation systems are also gaining traction, particularly in greenhouse vegetable production, where they offer precise control over soil moisture and water application.
North America, with the United States at the forefront, is a key region for precision irrigation systems, benefiting from government support and advancements in groundwater technologies. The rising labor costs have further fueled the adoption of these systems, as they significantly reduce the need for manual labor. In Canada, the embrace of modern agricultural practices and new technologies is driving market growth, with cost savings from optimized water and labor usage being a major incentive. The global market is consolidated, with major players like Orbia (Netafim Limited) and Jain Irrigation Systems Limited leading the charge. These companies are expanding their reach through strategic distribution networks and innovative product launches, such as satellite-based software solutions and advanced filtration systems, to enhance irrigation efficiency and productivity.
Precision Irrigation Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Force Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitutes
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Sprinkler Irrigation
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2.1.1.1 Traditional Sprinklers
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2.1.1.2 Center Pivot Sprinklers
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2.1.1.3 Lateral Move/ Linear Sprinklers
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2.1.2 Drip Irrigation
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2.1.2.1 Surface Drip Irrigation
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2.1.2.2 Sub-Surface Drip Irrigation
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2.1.2.3 Precision Mobile Drip Irrigation
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2.1.3 Other Types
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2.2 Crop Type
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2.2.1 Field Crops
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2.2.2 Plantation Crops
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2.2.3 Orchards and Vineyards
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2.2.4 Turf and Ornamentals
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Spain
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Africa
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2.3.5.1 South Africa
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2.3.5.2 Rest of Africa
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Precision Irrigation Market Size FAQs
How big is the Precision Irrigation Market?
The Precision Irrigation Market size is expected to reach USD 4.94 billion in 2024 and grow at a CAGR of 8.5% to reach USD 7.47 billion by 2029.
What is the current Precision Irrigation Market size?
In 2024, the Precision Irrigation Market size is expected to reach USD 4.94 billion.
