The Precision Irrigation Market is projected to reach $4.2 billion by 2030, at a CAGR of 11.7% during the forecast period of 2023 to 2030. The growth of this market is driven by the growing need to improve water efficiency and conservation, the rising implementation of precision irrigation to enhance crop yield and quality, and the increasing government policies and subsidies for low-interest loans to implement precision irrigation systems.
However, high initial costs and maintenance due to the hardware, software, and infrastructure restrain the growth of this market. Furthermore, the growing investment in sensor-based systems and automated irrigation controllers is expected to create market growth opportunities. However, the connectivity issue for implementation in rural areas is a major challenge for the players operating in this market. The latest trend in the precision irrigation market is the increasing use of machine learning and artificial intelligence.

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Rising implementation of Precision Irrigation to Enhance Crop Yield and Quality:
Precision irrigation delivers a certain amount of water based on specific crop needs and helps to enhance crop yield and quality. By optimizing water usage, precision irrigation helps to minimize waste and promotes efficient resource utilization. With the increasing implementation of precision irrigation, farmers can plan irrigation scheduling by employing sensors and technology to monitor soil moisture levels, weather conditions, and crop health. Precision irrigation helps with the accurate delivery of water supply that supports better nutrient absorption by crops, contributing to improving overall plant health and yield.

Precision irrigation plays a crucial role in the regions facing water scarcity or variable climate conditions.
The adoption of precision irrigation in respective regions empowers farmers to adapt to changing circumstances and mitigate the impact of excessive rainfall on crop production. The integration of artificial intelligence and data analytics helps to improve precision irrigation and makes it a key component in sustainable agriculture practice.

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Several precision irrigation providers are increasingly manufacturing and providing precision irrigation software and hardware to enable farmers to derive benefits from precision irrigation.

For instance, in March 2023, Netafim Limited (Israel), a global leader in precision agriculture solutions, announced the opening of its first manufacturing plant in North Africa to enhance the successful implementation of precision irrigation in Morocco and strengthen the country’s agricultural sector. Such growing implementation and development help to increase the demand for precision irrigation period.

The Solutions Segment to Register the Highest CAGR During the Forecast Period
Based on offering, the solutions segment is projected to register the highest CAGR during the forecast period. The growing need to save water, energy, and labor costs, the rising implementation of precision irrigation solutions to enhance crop yield and quality, the growing availability of data-driven insights on soil moisture and weather conditions, and the growing awareness of environmental issues to encourage farmers to adopt precision irrigation solutions are expected to support the growth of this segment.

The Sprinklers Irrigation Segment to Register the Highest CAGR During the Forecast Period
Based on irrigation type, the sprinklers irrigation segment is projected to register the highest CAGR during the forecast period. The growing use of sprinklers irrigation for highly valued plantation crops like coffee, cardamom, and orchards, the growing need for affordable irrigation, the high irrigation efficiency due to uniform distribution of water, the rising need to protect crops against high temp that reduce the quantity and quantity of heaters are expected to support the growth of this segment.

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The Agriculture Segment to Register the Highest CAGR During the Forecast Period
Based on end users, the agriculture segment is projected to register the highest CAGR during the forecast period. The increasing need to grow crops, maintain landscapes, and revegetate disturbed soils in agriculture, the growing need to apply water to crops in a precise and targeted manner, the growing need to improve efficiency and productivity by optimizing the use of resources like water and fertilizer, and the rising initiative to reduce environmental impact by minimizing soil erosion and water pollution are expected to support the growth of this segment.

Asia-Pacific to be the Fastest-growing Regional Market
In 2023, Asia-Pacific is expected to account for the largest share of the precision irrigation market, followed by Europe, North America, Latin America, and the Middle East & Africa. However, Asia-Pacific is slated to record the highest growth rate during the forecast period. The increasing advancements in agricultural technology, the growing need to maximize crop yields and meet the rising demand for agricultural products, the diverse climatic conditions that allow farmers to adopt precision irrigation to ensure efficient water use and crop management, and the rising government initiative in the region to promote sustainable agricultural practices and water conservation contribute to the rapid growth of this regional market.

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Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by the leading market participants in the precision irrigation market in the last three to four years. The key players operating in the precision irrigation market include Netafim Limited (Israel) (A Subsidiary of Orbia Advance Corporation, S.A.B. de C.V.), Deere & Company (U.S.), Jain Irrigation Systems Ltd. (India), Lindsay Corporation (U.S.), Nelson Irrigation Corporation (U.S.), Saturas ltd. (Israel), The Toro Company (U.S.), Valmont Industries Inc. (U.S.), T-L IRRIGATION CO. (U.S.), Viridix Ltd. (Israel), Mahindra EPC Irrigation Limited (India), Chinadrip Irrigation Equipment Co.Ltd. (China), Libelium Comunicaciones Distribuidas S.L. (Spain), CropX Technologies Ltd. (Australia), and ONDO (Balkans).

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Key questions answered in the report:

•What is the revenue ggenerated from the sales of precision irrigation across the globe ? At ehat rate is their demand expected to grow for the next 5_7 years?
•Which end-user industry segment held the major share of the Precison irrigation market in 2023?
•What are the key factors driving the growth of the precision irrigation market ?What are the major opportunity for existing market players and new entrants in the market?
•Who are the major players operating in the precision irrigation market?

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