TOC - Global Smart Irrigation Industry Overview by harshbisR-0

Smart Irrigation Market - A Global and Regional Analysis

Sample

Focus on Application, Product, and Country-Wise Analysis Analysis and Forecast: 2021-2026

March 2022

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

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Table of Content Executive Summary 1

Markets 1.1

Industry Outlook

1.1.1 Market Definition 1.1.2 Trends 1.1.2.1

Sustainable and Renewable Water Management

1.1.2.2

Integration of Wireless Technologies

1.1.2.3

Supporting Government Incentives

1.1.2.4

Fertigation

1.1.3 Supply Chain Analysis 1.1.4 Ecosystem

1.2

1.1.4.1

Consortiums and Associations

1.1.4.2

Government Initiatives Landscape

Business Dynamics

1.2.1 Business Drivers 1.2.1.1

Increased Government Initiatives to Promote Water Conservation

1.2.1.2

Increased Mechanization and Automation in Agriculture Industry

1.2.1.3

Decreasing Cost of Components

1.2.2.1

High Initial Infrastructure Cost

1.2.2.2

Lack of Technical Knowledge and Skills

1.2.3 Business Opportunities 1.2.3.1

Growth in 5G Network for Remote Monitoring

1.2.3.2

Growing Adoption of Modern Technologies across Different Regions

1.2.3.3

Expansion of Augmented Reality Applications across Farming Operations

1.2.4 Business Strategies 1.2.4.1

Product Development

1.2.4.2

Market Development 3

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1.2.2 Business Challenges

1.2.5 Corporate Strategies 1.2.5.1

Merger and Acquisition

1.2.5.2

Partnership, Collaboration, and Joint Venture

1.2.5.3

Others

1.2.6 Impact of COVID-19 on the Global Smart Irrigation Market

Application 2.1

Global Smart Irrigation Market (by Application)

2.1.1 Agricultural 2.1.1.1

Open Field

2.1.1.2

Plant Factory

2.1.2 Non-Agricultural

2.1.2.1

Residential

2.1.2.2

Golf Course and Sports Ground

2.1.2.3

Turf and Landscape

2.2

Demand Analysis of the Global Smart Irrigation Market (by Application)

2.3

Demand Analysis of the Global Smart Irrigation Market (by Agricultural)

2.4

Demand Analysis of the Global Smart Irrigation Market (by NonAgricultural)

Products 3.1

Global Smart Irrigation Market (by Product)

3.1.1.1

Controller

3.1.1.2

Sensor

3.1.1.3

Water Flow Meter

3.1.1.4

Others

3.1.2 Global Smart Irrigation Market (by System) 3.1.2.1

Weather-Based Controller System

3.1.2.2

Sensor-Based Controller System

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3.1.1 Global Smart Irrigation Market (by Component)

3.1.3 Global Smart Irrigation Market (by Business Model)

3.2

3.1.3.1

Irrigation-as-a-Product

3.1.3.2

Irrigation-as-a-Service

Demand Analysis of Global Smart Irrigation Market (by Product)

3.2.1 Demand Analysis Component)

Global

Smart

Irrigation

Market

(by

3.2.2 Demand Analysis of Global Smart Irrigation Market (by System) 3.3

Patent Analysis

3.3.1 Patent Analysis (by Status) 3.3.2 Patent Analysis (by Organization)

Region 4.1

North America

4.1.1 Market 4.1.1.1

Key Providers Operating in the North America

4.1.1.2

Business Drivers

4.1.1.3

Business Challenges

4.1.2 Application 4.1.2.1

North America Smart Irrigation Market (by Application), $Million, 20202026

4.1.2.2

North America Smart Irrigation Market (by Agricultural), $Million, 20202026

4.1.2.3

North America Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026

4.1.3.1

North America Smart Irrigation Market (by Component), $Million, 20202026

4.1.3.2

North America Smart Irrigation Market (by System), $Million, 2020-2026

4.1.4 North America (by Country) 4.1.4.1

U.S.

4.1.4.2

Canada

4.1.4.3

Mexico 5

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4.1.3 Product

4.2

South America

4.2.1 Market 4.2.1.1

Key Providers in South America

4.2.1.2

Business Drivers

4.2.1.3

Business Challenges

4.2.2 Application 4.2.2.1

South America Smart Irrigation Market (by Application), $Million, 20202026

4.2.2.2

South America Smart Irrigation Market (by Agricultural), $Million, 20202026

4.2.2.3

South America Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026

4.2.3 Product 4.2.3.1

South America Smart Irrigation Market (by Component), $Million, 20202026

4.2.3.2

South America Smart Irrigation Market (by System), $Million, 2020-2026

4.2.4 South America (by Country)

4.3

4.2.4.1

Brazil

4.2.4.2

Argentina

4.2.4.3

Peru

4.2.4.4

Rest-of-South America

Europe

4.3.1.1

Key Providers Operating in Europe

4.3.1.2

Business Drivers

4.3.1.3

Business Challenges

4.3.2 Application 4.3.2.1

Europe Smart Irrigation Market (by Application), $Million, 2020-2026

4.3.2.2

Europe Smart Irrigation Market (by Agricultural), $Million, 2020-2026

4.3.2.3

Europe Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026

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4.3.1 Market

4.3.3.1

Europe Smart Irrigation Market (by Component), $Million, 2020-2026

4.3.3.2

Europe Smart Irrigation Market (by System), $Million, 2020-2026

4.3.4 Europe (by Country)

4.4

4.3.4.1

Germany

4.3.4.2

France

4.3.4.3

Spain

4.3.4.4

Italy

4.3.4.5

Netherlands

4.3.4.6

Denmark

4.3.4.7

Rest-of-Europe

U.K.

4.4.1 Market 4.4.1.1

Buyer Attributes

4.4.1.2

Key Providers Operating in the U.K.

4.4.1.3

Business Challenges

4.4.1.4

Business Drivers

4.4.2 Application 4.4.2.1

U.K. Smart Irrigation Market (by Application), $Million, 2020-2026

4.4.2.2

U.K. Smart Irrigation Market (by Agricultural), $Million, 2020-2026

4.4.2.3

U.K. Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026

4.5

4.4.3.1

U.K. Smart Irrigation Market (by Component), $Million, 2020-2026

4.4.3.2

U.K. Smart Irrigation Market (by System), $Million, 2020-2026

Middle East and Africa

4.5.1 Market 4.5.1.1

Key Providers Operating in the Middle East and Africa

4.5.1.2

Business Drivers

4.5.1.3

Business Challenges

4.5.2 Application

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4.4.3 Product

4.5.2.1

Middle East and Africa Smart Irrigation Market (by Application), $Million, 2020-2026

4.5.2.2

Middle East and Africa Smart Irrigation Market (by Agricultural), $Million, 2020-2026

4.5.2.3

Middle East and Africa Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026

4.5.3 Product 4.5.3.1

Middle East and Africa Smart Irrigation Market (by Component), $Million, 2020-2026

4.5.3.2

Middle East and Africa Smart Irrigation Market (by System), $Million, 2020-2026

4.5.4 Middle East and Africa (by Country)

4.6

4.5.4.1

Israel

4.5.4.2

Rest-of-Middle East and Africa

China

4.6.1 Markets 4.6.1.1

Buyer Attributes

4.6.1.2

Key Providers Operating in China

4.6.1.3

Business Challenges

4.6.1.4

Business Drivers

4.6.2.1

China Smart Irrigation Market (by Application), $Million, 2020-2026

4.6.2.2

China Smart Irrigation Market (by Agricultural), $Million, 2020-2026

4.6.2.3

China Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026

4.6.3 Product

4.7

4.6.3.1

China Smart Irrigation Market (by Component), $Million, 2020-2026

4.6.3.2

China Smart Irrigation Market (by System), $Million, 2020-2026

Asia-Pacific

4.7.1 Market 4.7.1.1

Key Providers Operating in Asia-Pacific

4.7.1.2

Business Drivers 8

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4.6.2 Application

4.7.1.3

Business Challenges

4.7.2 Application 4.7.2.1

Asia-Pacific Smart Irrigation Market (by Application), $Million, 2020-2026

4.7.2.2

Asia-Pacific Smart Irrigation Market (by Agricultural), $Million, 2020-2026

4.7.2.3

Asia-Pacific Smart Irrigation Market (by Non-Agricultural), $Million, 20202026

4.7.3 Product 4.7.3.1

Asia-Pacific Smart Irrigation Market (by Component), $Million, 2020-2026

4.7.3.2

Asia-Pacific Smart Irrigation Market (by System), $Million, 2020-2026

4.7.4 Asia-Pacific (by Country)

4.7.4.1

Japan

4.7.4.2

India

4.7.4.3

Australia

4.7.4.4

South Korea

4.7.4.5

Rest-of-Asia-Pacific

Markets - Competitive Benchmarking & Company Profiles 5.1

Competitive Benchmarking

5.1

Market Share Analysis

5.1.1 Market Share Analysis of Global Smart Irrigation Companies 5.2

Company Profiles

5.2.1.1

Company Overview

5.2.1.2

Business Strategy

5.2.1.3

Strength and Weakness of Banyan Water, Inc.

5.2.2 CALSENSE 5.2.2.1

Company Overview

5.2.2.2

Product Portfolio

5.2.2.3

Strengths and Weakness of CALSENSE

5.2.3 Galcon 5.2.3.1

Company Overview 9

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5.2.1 Banyan Water, Inc.

5.2.3.2

Product Portfolio

5.2.3.3

Strengths and Weaknesses of Galcon

5.2.5 Hunter Industries 5.2.5.1

Company Overview

5.2.5.2

Product Portfolio

5.2.5.3

Strengths and Weaknesses of Hunter Industries

5.2.5 HydroPoint 5.2.5.1

Company Overview

5.2.5.2

Product Portfolio

5.2.5.3

Strengths and Weaknesses of HydroPoint

5.2.6 Jain Irrigation Systems Ltd. 5.2.6.1

Company Overview

5.2.6.2

Product Portfolio

5.2.6.3

Strengths and Weaknesses of Jain Irrigation Systems Ltd.

5.2.7 Netafim 5.2.7.1

Company Overview

5.2.7.2

Product Portfolio

5.2.7.3

Business Strategies

5.2.7.4

Corporate Strategies

5.2.7.5

Strengths and Weaknesses of Netafim

5.2.8.1

Company Overview

5.2.8.2

Product Portfolio

5.2.8.3

Business Strategies

5.2.8.4

Corporate Strategies

5.2.8.5

Strengths and Weaknesses of Orbit Irrigation Products LLC

5.2.9 Rachio inc. 5.2.9.2

Product Portfolio

5.2.9.3

Strengths and Weaknesses of Rachio inc.

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5.2.8 Orbit Irrigation Products LLC

5.2.10.1 Company Overview 5.2.10.2 Product Portfolio 5.2.10.3 Business Strategies 5.2.10.4 Corporate Strategies 5.2.10.5 Strengths and Weaknesses of Rain Bird Corporation

5.2.11 RainMachine – Green Electronics LLC 5.2.11.1 Company Overview 5.2.11.2 Product Portfolio 5.2.11.3 Strengths and Weaknesses of RainMachine – Green Electronics LLC

5.2.12 Scotts Irrigation & Landscaping 5.2.12.1 Company Overview 5.2.12.2 Product Portfolio 5.2.12.3 Strengths and Weaknesses of Scotts Irrigation & Landscaping

5.2.13 Skydrop 5.2.13.1 Company Overview 5.2.13.2 Product Portfolio 5.2.13.3 Strengths and Weaknesses of Skydrop

5.2.14 Stevens Water Monitoring System Inc. 5.2.14.1 Company Overview 5.2.14.2 Product Portfolio 5.2.14.3 Business Strategies 5.2.14.4 Strengths and Weaknesses of Stevens Water Monitoring System Inc.

5.2.15.1 Company Overview 5.2.15.2 Product Portfolio 5.2.15.3 Corporate Strategies 5.2.15.4 Strengths and Weaknesses of The Toro Company

5.2.16 Other Key Players

Research Methodology 6.1

Data Sources 11

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5.2.15 The Toro Company

6.1.1 Primary Data Sources 6.1.2 Secondary Data Sources 6.1.3 Data Triangulation 6.2

Market Estimation and Forecast

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6.2.1 Factors for Data Prediction and Modelling

Executive Summary Irrigation held the spotlight as one of the significant reasons for water shortage worldwide. Therefore, several developments are happening to sustainably utilize water in the irrigation process. Agricultural activities are responsible for almost XX% of all water consumption and up to XX% in some developing countries such as the U.S., Australia, the U.K., and Japan. The increase in population demands the sustained growth of food production in the coming years, requiring water inputs to support the global smart irrigation market. Therefore, as an acceptable solution, there is a need to reduce agricultural water use by utilizing water in the right quantities. Internet-based software systems in the smart-irrigation solutions provide a cost-effective approach to water management. The smart irrigation process helps in automating the irrigation procedure, reducing the water use, which ultimately reduces the irrigation cost, gives a better understanding of the soil and crop moisture content, provides timely notifications of the abnormalities in soil, and offers good long-term health of the landscape. This automation of irrigation procedures can be supported by building software solutions applicable for agricultural purposes. Through software solutions in the field, agricultural activities can be better monitored and managed. Irrigation software such as Spruce, Rubbicon’s FarmConnect, and Hydrawise also enables controlling of field activities remotely. It can be strategically planned how and when the irrigation has to be undertaken, which would lead to more transparency in the field and increased agricultural and water efficiency. Smart irrigation systems include a complete irrigation setup that can be deployed in a wide range of applications such as residential, sports grounds, landscape, and agriculture, among others. These systems offer end-to-end coverage over processes involved in smart irrigation with components such as sensors, controllers, water flow meters, sprinklers, water pumps, and nozzles, among others. Components are individual hardware and software solutions required in setting up a complete smart irrigation system. These components help in automating the irrigation process that leads to increased irrigational efficiency along with decreased water consumption and wastage. The business firms operating in the global smart irrigation market adopt different business models to provide a complete irrigation system is required that caters to all the different aspects of farm irrigation. On the other hand, some irrigation application, such as residential ones, requires a simple irrigation system. This report provides insights on different business models deployed by companies operating in the global smart irrigation market. The global smart irrigation market by business model is primarily divided into irrigation-asa-product and irrigation-as-a-service business models.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

smart irrigation tools and technologies to meet consumers’ demands. In some industries such as agriculture,

Global Smart Irrigation Market The global smart irrigation market accounted for $XX billion in 2020 and is expected to grow with a CAGR of XX% and reach $XX billion by 2026. The growth in the global smart irrigation market is expected to be driven by increased government initiatives to promote water conservation. The escalation toward mechanization and automation in the agricultural industry is resulting in the day-to-day increase in modern and smart irrigation techniques.

Fig ure 1: Glo b al Smart Irrig at io n M ark e t , $ M illio n, 2 02 0- 20 26

XX XX

$Million

2020

2021

2022

2023

2024

2025

2026

Year Source: BIS Research Analysis

Market Drivers and Challenges in the Global Smart Irrigation Market A major factor driving the global smart irrigation market is the emergence of smart farming and smart irrigation technologies, and it is expected that the demand for smart irrigation models is going to increase. techniques in the market. One of the major challenges in the growth and development of the global smart irrigation market is that the smart agriculture equipment carries an excessive cost, which prevents small- and medium-scale farmers from purchasing the same. As a result, the implementation of capital-intensive farm equipment is a difficult proposition for small and marginal farmers. Furthermore, in developing countries, the unwillingness of commercial banks to finance farm equipment is also another restraint in the growth of farm mechanization.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Therefore, the decreasing cost of components acts as a driver for the adoption of smart irrigation tools and

Fig ure 2: M ark e t Drive rs and Challe ng e s in t he Glo b al Smart Irrig at io n M ark e t

Drivers

Challenges

Increased government initiatives to promote

High initial infrastructure cost

water conservation

Lack of technical knowledge and skills

Increased mechanization and automation in agriculture industry Decreasing cost of components Source: BIS Research Analysis

The global smart irrigation market is expected to grow in the coming years due to escalation toward mechanization and automation in the agricultural industry resulting in an increase in modern and smart irrigation techniques. Some leading companies operating in the global smart irrigation market are Netafim, Rain Bird Corporation, Orbit Irrigation Products LLC, Jain Irrigation Systems Ltd., The Toro Company, Hunter Industries, HydroPoint, and Scotts Irrigation & Landscaping, among others. Due to the COVID-19 pandemic, the shortage in staff availability in the industry has also resulted in the introduction of smart irrigation systems worldwide. However, it has also helped understand the value of smart irrigation due to people's concern for food security, poverty, and global economic impact. Therefore, smart irrigation practitioners have responded positively to this crisis, and therefore, the global smart irrigation market is anticipated to bounce back more robustly in the future.

Global Smart Irrigation Market (by Product) The product section of the global smart irrigation market is divided into components, systems, and business models. The components deployed in smart irrigation systems include controller, sensor, water flow meter, and others. The two basic systems used in smart irrigation are weather and sensor-based controller

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

systems.

$Millon

Fig ure 3: Glo b al Smart Irrig at io n M ark e t ( b y Co mp o ne nt ) , $M illio n, 2 02 0- 2 02 6

2020

2021

2022

2023

2024

2025

2026

Source: BIS Research Analysis

The global smart irrigation market segmented by component was dominated by controller component in 2020. Furthermore, the sensor component is expected to grow at a faster pace during the forecast period 2021 to 2026 due to its ability to sense specific conditions such as soil moisture conditions, rain conditions, and temperature conditions.

2020

2021

Source: BIS Research Analysis

2022

2023

2024

2025

2026

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$Millon

Fig ure 4: Glo b al Smart Irrig at io n M ark e t ( b y Sys t e m) , $M illio n, 2 02 02 02 6

The global smart irrigation market segmented by the system is dominated by the weather-based controller system. The weather-based controller system uses local evapotranspiration (ET) data to determine irrigation needs and schedules.

Global Smart Irrigation Market (by Application) Irrigation is the process of supplying adequate amounts of water primarily to agricultural land. The applications of irrigation have increased with time which has led to increased use of water in irrigation. The application section of the global smart irrigation market is divided into agricultural and non-agricultural applications.

$Millon

Fig ure 5: Glo b al Smart Irrig at io n M ark e t ( b y App licat io n) , $M illio n, 2 02 0- 2 02 6

2020

2021

2022

2023

2024

2025

2026

Source: BIS Research Analysis

The dominating segment in the global smart irrigation market by application is the non-agricultural segment. Residential irrigation captures the major market share of the global non-agricultural smart irrigation market. use of smart irrigation technologies results in minimal wastage of water in the residential and other areas of application.

Global Smart Irrigation Market (by Region) One of the primary drivers for the high growth rate of the global smart irrigation market is the high technological advancement in various regions such as North America, Asia-Pacific, and Europe, along with high emphasis from the governing and regulatory bodies on modern equipment.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Residential irrigation includes houses and private lawns, which require time to time watering, and hence, the

Fig ure 6: Glo b al Smart Irrig at io n M ark e t ( b y Re g io n) , $M illio n, 2 02 0

North America Total Market: $XX Million

Europe Total Market: $XX Million U.K. Total Market: $XX Million

Total Global Market $XX Million

Middle East and Africa Total Market: $XX Million

China Total Market: $XX Million

Asia-Pacific Total Market: $XX Million

South America Total Market: $XX Million

Source: BIS Research Analysis

The North America region is expected to dominate the global smart irrigation market attributed to the presence of top players along with high technological advancements in the region. The fifth generation (5G) network is more advanced in regions such as North America, Asia-Pacific, and Europe, due to which they have a higher capability to apply smart irrigation technologies in the agricultural industry. Moreover, the growing adoption of augmented reality (AR) across farming operations further promotes the growth of the global smart irrigation market in the regions.

Competitive Landscape of the Global Smart Irrigation Market

as business expansion, partnership, collaboration, and joint venture, among others. The favored strategy for the companies has been mergers and acquisitions to strengthen their position in the global smart irrigation market. For instance, in November 2021, Platinum Equity has agreed to sell sprinkler business Orbit Irrigation Products to Husqvarna Group in a contract valued at $XX million.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

The global smart irrigation market has seen key development by top players operating in the market, such

Another strategy adopted by the players in the market is partnerships and collaborations. The companies have put in substantial efforts to build new strategies for improving the availability of smart irrigation-based products. For instance, in December 2021, SupPlant LLC. announced that it had begun working with Agri Entrepreneur Growth Foundation (AEGF). The partnership aimed at providing smallholder Indian farmers precise irrigation recommendations to help them use less water to grow grapes, sugar cane, mango, and citrus. Also, in September 2021, InfraCo Africa and Bonergie Irrigation signed an agreement to scale up access to solar-powered irrigation solutions in Senegal. A key opportunity for growth in the market is an increase in the adoption of modern technological advancements in agriculture across different regions. Moreover, increased technology would drive precision agriculture and smart farming markets along with

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

increased government initiatives.

Scope of the Study Smart irrigation is expected to be a great solution for huge water consumption due to agricultural activities due to advanced technology of sprinklers, sensors, and controllers, which results in water conservation. Smart irrigation sensors collect real-time data and use it for scheduling and modifying daily watering routines. The global smart irrigation market is expected to grow during the forecast period 2021-2026. The global smart irrigation market research study offers a comprehensive viewpoint on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.

Fig ure 7: Glo b al Smart Irrig at io n M ark e t Co ve rag e

Application

Agricultural Non-Agricultural

Component

Controller Sensor Water Flow Meter Others

System

Business Model

Weather-Based Controller System Sensor-Based Controller System Irrigation-as-a-Product Irrigation-as-a-Service

Source: BIS Research Analysis

 What is the estimated global smart irrigation market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?  What is the competitive strength of key players in the global smart irrigation market based on an analysis of their recent developments, product offerings, and regional presence?  What type of players are operating in the market ecosystem of smart irrigation, and what is their significance in the global market?  What kinds of new strategies are being adopted by existing market players to expand their market position in the industry?  What are the key trends, market drivers, and opportunities in the market pertaining to smart irrigation? 20 All rights reserved at BIS Research Inc.

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Key Questions Answered by This Report

 What are the major restraints inhibiting the growth of the global smart irrigation market?  How is the competitive benchmarking of the key smart irrigation companies based on the analysis of their market coverage and market potential?  How much revenue is each segment expected to record during the forecast period, along with the growth percentage? The segments are as follows: o

Product, including component (controller, sensor, water flow meter, and others), system (weatherbased controller system and sensor-based controller system), and business model (irrigation-as-aproduct and irrigation-as-a-service)

Application, including agricultural and non-agricultural. Agricultural applications include open field and plant factory, and non-agricultural applications include residential, golf course and sports ground and turf and landscape

Region, including North America, the U.K., Europe, Asia-Pacific, China, Middle East and Africa, and South America.

The report is a compilation of several segmentations, including market breakdown by application, product, and region. The report highlights the major driving and restraining factors for the market as well as the opportunities in various applications across leading countries. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies and organizations across the value chain. The report also provides a country-based analysis for all leading countries in every region, including the U.S., Mexico, Canada, the U.K., Japan, China, South Korea, Germany, Italy, and the Netherlands, among others. Each regional analysis details an individual push-and-pull force, in addition to key players and

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

applications in that region.

1. Market

1 Markets Market Market Definition Definition Trends Trends Supply Supply Chain Chain Analysis Analysis Ecosystem Ecosystem Consortiums Consortiums and and Associations Associations Government Government Initiatives Initiatives Landscape Landscape Business Business Dynamics Dynamics COVID-19 COVID-19 Impact Impact

Section Section Summary Summary

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

A methodical understanding of the core and adjacent markets as well as the industry changes to critically assess business dynamics of the global smart irrigation market in scope, including the drivers, challenges, and opportunities for various players An in-depth analysis of impact of developments and initiatives made by stakeholders that influence the business environment for both the market participants as well as the customers Examination of the competitor’s strategies and their recent developments to effectively assess market movements at each level of the supply chain and understand the value chain analysis provided to guide the reader to identify the key stakeholders in the global smart irrigation market

1.1 Industry Outlook 1.1.1 Market Definition Irrigation, often known as watering, is the agricultural practice of applying controlled measures of water to land to aid in the growth of crops, as well as to produce landscaping plants and lawns. Rain-fed agriculture is agriculture that does not use irrigation and instead relies solely on direct rainfall. Irrigation, or the intentional or controlled flooding of agricultural land with water, has been a key element in the reported increase in crop yields in several nations during the last few decades. Water, whether from rainfed sources or piped irrigation, is a critical component in worldwide agriculture. With almost XX billion cubic meters (m 3) of agricultural water consumed per year in 2010, India was the world's greatest agricultural water consumer. India's agricultural water use has increased rapidly, nearly tripling between 1975 and 2010, as the country's population and total food demand increases. China is the world's second-largest user, with XX billion m3 in 2015, even though its agricultural freshwater demand has recently plateaued. These two countries are thus followed by the U.S., Brazil, and France. XX% of this resource's utilization is accounted for by agriculture. Thus, it is evident that agriculture production is heavily dependent on water and is becoming progressively more vulnerable to water scarcity. It is also the prominent consumer of energy and a major polluter of water. Water management in agriculture must therefore be improved for the agro-food sector to be sustainable and productive. The smart irrigation process helps in automating the irrigation procedure and reducing the water use, which ultimately reduces the irrigation cost, gives a better understanding of the soil and crop moisture content, provides timely notifications of the abnormalities in soil, and offers good long-term health of the landscape. Through software solutions in the field, agricultural activities can be better monitored and managed. This software also enables controlling of field activities remotely. It can be strategically planned how and when the irrigation has to be undertaken, which would lead to more transparency in the field and increased agricultural and water efficiency. One of the main drivers for the growth and development of the global smart irrigation market is the increased mechanization and automation in the agricultural sector. Smart sensors with the Internet of Things (IoT) frequency identification (RFID) technology. Sensor data provides overall crop performance, air quality, soil moisture, and water levels in the areas of irrigation and productivity. Also, drones have been utilized to survey the area and identify any faults in the farm in recent years. For agricultural research, data from these drones is also gathered, processed, and pooled regionally. In fact, farmers are kept up to date on current market trends through specific applications and web portals. Therefore, the escalation toward mechanization and automation in the agricultural industry and its effective nature is resulting in the day-to-day increase in modern and smart irrigation techniques. Another driver for the growth in the market is an increase in government initiatives to promote water conservation. Thus, these drivers are expected to play major roles in the growth of the global smart irrigation market. A key opportunity for growth in the market is an increase in 23 All rights reserved at BIS Research Inc.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

capabilities are used to monitor livestock health, track animal movement, and geo-fence using radio

the adoption of modern technological advancements in agriculture across different regions. Increased technology would drive precision agriculture and smart farming markets along with increased government initiatives.

1.1.2 Trends 1.1.2.1 Sustainable and Renewable Water Management The increase in population demands the sustained growth of food production in the coming years, requiring water inputs to support the global smart irrigation market. The rise in water resource deficiencies has posed a challenge for the sustainable progress of irrigated cultivation. Approximately XX% of water withdrawals and more than XX% of water consumption originate from agricultural irrigation, resulting in a surge in the industrial and urban water supply. Therefore, as an acceptable solution, there is a need to reduce agricultural water use by utilizing water in the right quantities. Internet-based software systems in the smartirrigation solutions provide a cost-effective approach to water management. Water is the most crucial input for boosting agricultural productivity, and therefore the development of smart irrigation has been a key methodology in the progress of agriculture.

Tab le 1:

Fre s hwat e r f o r Diff e re nt Us e s in Ind ia, Unit ( M illio n H e ct are M et e r) , 1 98 5, 2 00 0 and 20 25

Use

1985

2000

2025

Irrigation

Domestic and Livestock

Industries

Thermal power

Miscellaneous

Total

From the preceding table, it can be inferred that more than XX% of the water is being used for irrigation. Overexploitation of water leads to depleting water levels. Therefore, smart irrigation solves this issue by sustainably utilizing water. Smart irrigation system permits farmers to lower runoff from over watering saturated soils, prevent irrigating at inappropriate times, and enhance crop yield by ensuring sufficient water supply when needed. Smart irrigation intends to reduce its ecological footprint through efficient water use. Smart irrigation allows farmers and manufacturers to reinvest in new and improved technologies which ensure sustainable and responsible irrigation over time. 24 All rights reserved at BIS Research Inc.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Source: SIES College Of Commerce and Economics and BIS Research Analysis

1.1.2.2 Integration of Wireless Technologies Typical commercial sensors for agriculture irrigation systems are costly, making it impossible for smaller farmers to implement this type of system. However, manufacturers are currently offering low-cost sensors that can be connected to nodes to implement affordable strategies for irrigation management and agriculture monitoring. Therefore, integrating Internet of Things (IoT) and wireless sensor network (WSN) technologies to develop these systems results in a monitored irrigation system. The growth in irrigation systems using a wireless network is a solution to attain water conservation and improve smart irrigation practices.

The following table highlights the importance of integrated wireless technologies. Tab le 2:

Sig nifi cance o f Int e g rat e d Wire le s s Te chno log ie s

Factors

Description

Sustainable

Integration of several wireless technologies such as ZigBee, Classic Bluetooth (BT), and Wi-Fi, among others, are used for communication with little or no damage to the environment.

Reliable and Resilient

Technologies such as General Packet Radio Service (GPRS), SigFox, and LoRa are always available and reliable for agricultural use.

Sample

Source: BIS Research Analysis

Technological innovations on the Internet of Things (IoT) have paved the way for wireless technologies in new industries such as agriculture. Agricultural monitoring is where IoT can assist in improving productivity,

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efficiency, and crop yield.

1.1.3 Supply Chain Analysis The supply chain players in the agricultural industry are responsible for marketing the products from farms to end users. The smart irrigation manufactured goods are mainly sold through a local or national wholesale market or directly to retailers in rare cases.

Regional

National

Fig ure 8: Sup p ly Chain Analys is of t he Glo b al Smart Irrig at io n M ark e t

Manufacturers/Importers Manure Collectors

Sample

Local

Scale of Action

Sample

Farmers Sample Sample Sample

National

Sample

Retailers

Sample

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Regional

Sample

The global smart irrigation market includes manufacturers such as Hunter Industries, Orbit Irrigation Systems LLC, and Rain Bird Corporation, which manufacture smart irrigation equipment and distribute them further to other parties. The manufacturers sell their products to wholesalers, distributors, or agricultural equipment retailers. They further provide the equipment to input and seed sellers or manure sellers at regional and national levels. These sellers finally provide local farmers with irrigation-related equipment. This structural role helps farmers access production factors and ancillary services such as credit and subsidiaries. Therefore, this acts as a driving factor for the growth of the global smart irrigation market.

1.1.4 Ecosystem 1.1.4.1 Consortiums and Associations The growth and development of mostly all the industries are supported by associations and consortiums. In associations and consortiums, regulatory and government bodies, researchers, and experts are affiliated with the association. These associations help in the research and development for the growing industry, along with experts providing insights and knowledge about the topic. These associations help in guiding the industry in the right direction and in its growth by organizing events and conferences. Active innovators in the industry are acknowledged with awards which creates awareness about the industry. Some recognized associations and consortiums in the agriculture industry are listed in the following table, along with their role in the growth of the global smart irrigation market.

Ke y Co ns o rt iums and As so ciat io ns in t he Glo b al Smart Irrig at io n M ark e t

Association and Consortium

Year of Establishment

Headquarters

Irrigation Association (IA)

1949

U.S.

Irrigation Innovation Consortium (IIC)

2018

U.S.

Sample

Source: BIS Research Analysis

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Tab le 3:

Irrigation Association (IA) Overview Irrigation Association (IA) is a trade association of over XX companies in the landscape and agriculture industries. The Irrigation Association (IA) is dedicated to promoting efficient irrigation technologies, products, and services.

Role in Smart Irrigation Market The primary focus of the Irrigation Association (IA) is to increase irrigational efficiency in the agriculture industry by promoting best practices for effective water management. The association also establishes benchmarks and guidelines for irrigation products and applications.

Irrigation Innovation Consortium (IIC) Overview The Irrigation Innovation Consortium (IIC) is a joint effort to speed up the development and adoption of water and energy-effective irrigation technologies and practices through public-private partnerships.

Role in Smart Irrigation Market Irrigation Innovation Consortium (IIC) is a consortium that encourages research and training to develop tools and best management methods to make irrigation systems easier to use and more efficient in water and energy. The association develops sustainable irrigation technology and practices while reducing the global carbon footprint.

Global Alliance for Climate-Smart Agriculture (GASCA) Overview Global Alliance for Climate-Smart Agriculture (GASCA) is a multi-stakeholder platform on Climate-Smart climate change.

Role in Smart Irrigation Market Global Alliance for Climate-Smart Agriculture (GASCA) aims at increasing food security all over the world and indirectly affects the global smart irrigation market with increased efficiency in the global agricultural industry through smart agriculture initiatives.

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Agriculture (CSA). The vision of GASCA is to improve food security, nutrition, and resilience due to constant

1.1.4.2 Government Initiatives Landscape Government and regulatory bodies play a significant role in the development and working of an industry. Government bodies take up steps and create awareness for the better growth and development of an industry. In the irrigation sector, there has been a need to improve the current irrigational setup, both in agricultural and non-agricultural applications. Smart irrigation is a great solution to the issue faced in the global irrigation sector as, through smart irrigation, the use of sensors and controllers will enable increased efficiency, and irrigation will be achieved in a more controlled manner. Also, water management will improve, leading to less water wastage. Multiple government regulations and strategies have been made for improving the agricultural and nonagricultural irrigation setup. The segment further analyzes the ongoing competitive trends among countries to stay ahead of each other in economic and technological aspects in the various regions by probing into the past and present government regulations and the macro and micro-economic factors.

Tab le 4:

Go ve rnme nt Init iat ive s To ward Glob al Smart Irrig at io n M ark e t

Initiative

Description

Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)

The Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) was launched by the government of India with the aim of extending irrigation to every field while improving water-use efficiency in agriculture.

Rashtriya Krishi Vikas Yojana (RKVY)

The Rashtriya Krishi Vikas Yojana (RKVY) primarily aims at the promotion of micro-irrigation, on-farm water management through watersheds, nutrient management by promoting micronutrient and bio-fertilizer.

Sample

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Source: BIS Research Analysis

1.2 Business Dynamics 1.2.1 Business Drivers 1.2.1.1 Increased Government Initiatives to Promote Water Conservation Whether it is a golf course, a vineyard, or wheat fields, plants require water. As a result of global climate change, water has become scarcer and needs to be used in an efficient way. Therefore, smart irrigation systems that use less water are becoming increasingly popular. Several driving factors, such as government measures to promote water conservation and the rise of smart cities that prioritize water saving, have given the industry significant growth potential. For instance, in 2021, the Egyptian Central Bank (CBE) launched a new project to help farmers shift to advanced irrigation technologies across the country. According to the Egyptian Central Bank, the National Bank of Egypt and the Agricultural Bank of Egypt would fund current and new agricultural cooperatives wishing to switch to advanced irrigation systems under the $XX billion project. In Morocco, the High Commission for Planning announced that XX percent of the revenue of the country is generated through agriculture, which is now threatened by water stress. It struggles to improve the effectiveness of conventional irrigation infrastructure. This is done by improving water catchments at the head of irrigation systems. The High Commission for Planning also aims to minimize water losses during transportation and distribution at the level of irrigated fields. Moreover, governments in developing countries are focusing on the growing demand for sustainable food production systems by allocating high investment amounts in agricultural mechanization and automation, such as smart irrigation systems. The government initiatives help to promote the adoption of modern irrigation technologies. Modern technologies, thus, in turn, would result in sustainable and efficient agriculture methods.

1.2.1.2 Increased Mechanization and Automation in Agriculture Industry In the agricultural sector, mechanization and automation have enhanced crop productivity and ushered in a more efficient, effective, and environmentally friendly, which will help in thriving the value chains. The real-time data from multiple sensors are used to undertake predictive farm equipment maintenance and optimize farm operations. Smart sensors with IoT capabilities are used to monitor livestock health and track animal movement, water levels, and crop-specific water requirements. Sensor data provides overall crop performance, air quality, soil moisture, and water levels in the areas of irrigation. With this, farmers can remotely monitor their fields using mobile smartphones. This can assist farmers in making planting, irrigating, and harvesting decisions, resulting in an efficient and higher total crop production.

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new era of precision agriculture. It can make postharvest processing and marketing operations and functions

1.2.2 Business Challenges 1.2.2.1 High Initial Infrastructure Cost Deployment of smart agriculture equipment has increased rapidly in developed countries such as the U.S., Germany, France, and the U.K., as they have a greater presence of large-sized farms. Smart agriculture equipment carries an excessive cost, which prevents small- and medium-scale farmers from purchasing the same. However, in developing regions, such as Nepal, India, and Japan, most farms are of small scale and have meager farm income. As a result, the implementation of capital-intensive farm equipment is a difficult proposition for small and marginal farmers. Furthermore, in developing countries, the unwillingness of commercial banks to finance farm equipment is also another restraint in the growth of farm mechanization. The following graph predicts the agricultural land with the small farmers. The developing countries have a high share of land allocated to small farmers. In global terms, small farmers are the ones with less than two hectares of land.

Brazil

U.K.

Germany

France

Italy

XX XX

India

Japan

Nepal

Percentage Source: World Development and BIS Research Analysis

Additionally, integration of different components required in the farm equipment and infrastructural arrangement involves inflated costs, making it a difficult value proposition for small and marginal farmers. This equipment requires regular maintenance to keep them running. Therefore, a difficulty to attract small farmers due to the high initial investment involved in setting up a powered agriculture operation is expected. The concerns regarding financial barriers have restricted some countries from adopting high-end farming technologies. 31 All rights reserved at BIS Research Inc.

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Country

Fig ure 9: Share of Ag ricult ure L and b y Small Farms

1.2.3 Business Opportunities 1.2.3.1 Growth in 5G Network for Remote Monitoring 5G holds immense potential for data aggregation for large farming operations. The 5G network is utilized to aggregate data from micro-crop management systems. It speeds up the whole procedure with machine-tomachine transfer services. It helps in finding quick solutions to the farm problems, using real-time, gathered data. 5G networking is the infrastructure that facilitates smarter data networks between farm management systems and edge computing of Internet of Things (IoT) devices, for instance, drones, sensors, robots, and autonomous vehicles, which collects and transmit data to physical- and cloud-based facilities. 5G allows the large farms to analyze the aggregated data. The analysis based upon the data on circumstances such as soil moisture, crop moisture, and pesticide use enables farmers to make respective decisions. Moreover, the analysis will be more exact and accurate and result in more farm production and efficiency. Drones are increasingly used by farmers to check the health of their crops. Drones provide more precise data on crop damage and other aspects. They will be able to gather higher-quality video data and transmit it faster because of 5G. This high-speed capability will allow for the development of AI drone technology and real-time reports.

1.2.4 Business Strategies The global smart irrigation industry is growing at a great pace. One of the major factors for the high growth rate in the market is the increased awareness toward precision and smart farming, along with government initiatives to reduce water wastage in irrigation. The companies operating in the global smart farming market are actively developing new and modern products that can be deployed in agricultural and non-agricultural irrigation applications. The global smart irrigation market has observed several technological and strategic developments since 2010. Some strategies included in this segment are business expansion, partnerships and collaborations, and product launches. The favored strategy for the companies has been merger and acquisition activities to

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

strengthen their position in the global smart irrigation market.

Fig ure 10 : Share of Ke y M ark e t St rat e g ie s and De ve lop me nt s , January 2 01 8- De ce mb e r 20 21

Total Number of Developments: XX

XX Merger and Acquisition Product Launch

Partnership, Collaboration, and Joint Venture Business Expansion Others

XX Source: BIS Research Analysis Note: The complete list of developments from January 2018 to December 2021 has been provided in the Annexure.

The preceding figure shows the percentage of strategies adopted by key market players. The majority of companies preferred merger and acquisition as a preferred strategy to further grow in the global smart irrigation market.

1.2.4.1 Product Development The development of smart irrigation products for agricultural and non-agricultural applications has been moderately adopted by companies to further extend their reach and presence in the global smart irrigation market. The companies have put in considerable efforts to develop new products for increasing the applications of smart irrigation products, such as controllers, sensors, water flow meters, and others, along with weather-based and sensor-based controller systems.

lead to the growth of the companies operating in the space. For instance, in December 2021, Netafim India, a leading smart irrigation solution provider, unveiled flexi sprinkler kit, a field crops sprinkler irrigation system. Also, in July 2019, Water Ways Technologies announced the launch of CANNAWAYS, an Internet of Things controlled irrigation and fertilization system for cannabis cultivators and growers.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

The global smart irrigation market is poised to grow over time with new developments in the industry that will

1.2.5 Corporate Strategies 1.2.5.1 Merger and Acquisition The most preferred strategy implemented by key market players in the global smart irrigation market is mergers and acquisitions. Industry leaders in this market are opting for this strategy to maintain their market position and stop new entrants from expanding their operations in the market. For instance, in November 2021, Platinum Equity agreed to sell sprinkler business Orbit Irrigation Products to Husqvarna Group in a contract valued at $XX million. Also, in November 2021, Fieldin, a global smart farm operations management company for high-value crops, announced that it acquired Midnight Robotics, a leader in farming autonomous driving. The acquisition established a combination of a sensor-based operational farming platform with autonomous driving technologies to encourage growers in the day-to-day management of their farms.

Fig ure 11 : M e rge r and Acq uis it io n (b y Co mp any) , Janua ry 2 01 8De ce mb e r 20 21

Total Number of Mergers and Acquisitions: XX

XX XX

CropX Inc. Wilbur-Ellis Agribusiness

XX XX

Valmont Industries, Inc. Weathermatic Others

Source: BIS Research Analysis

The preceding figure shows the percentage of mergers and acquisitions made by the key market players in the global smart irrigation market. All key players such as CropX Inc., Wilbur-Ellis Agribusiness, and Valmont Industries, Inc. made two mergers and acquisitions each.

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Note: The complete list of mergers and acquisitions from January 2018 to December 2021 has been provided in the Annexure.

1.2.5.2 Partnership, Collaboration, and Joint Venture Another moderately preferred strategy adopted by the players in the global smart irrigation market to establish themselves as a key player is partnerships, collaborations, and joint ventures. Companies with identical product portfolios with a need for additional resources often partner and come together for joint venture programs, which help the companies gain access to one another’s resources and facilitate them to achieve their objectives faster. Furthermore, it results in making use of each other’s expertise. For instance, in December 2021, SupPlant LLC. announced that it had begun working with Agri Entrepreneur Growth Foundation (AEGF). The partnership aimed at providing smallholder Indian farmers precise irrigation recommendations to help them use less water to grow grapes, sugar cane, mango, and citrus fruits. Also, in September 2021, InfraCo Africa and Bonergie Irrigation signed an agreement to scale up access to solar-powered irrigation solutions in Senegal.

1.2.6 Impact of COVID-19 on the Global Smart Irrigation Market Every industry has suffered from the destructive effects of COVID-19. The irrigation sector is also affected, as the pandemic has complex impacts throughout the world. The global smart irrigation market supports the world's vital production practices and has the keys to shifting to greener irrigation practices. Irrigation companies worldwide have continued to function regardless of the challenging situations. Nevertheless, there have been multiple jolts affecting the delivery of the services by the smart irrigation industry, including financial constraints, disruption of supply chains due to travel restrictions, and shortage of labor. Globally, construction and manufacturing production have been put on hold and maintenance delayed, which has impacted the market's growth. For instance, in India, the pre-monsoon tasks associated with irrigation, such as dam assessment and maintenance, have been suspended. Countries such as Mali and Indonesia have prioritized irrigation and food production during the pandemic to guarantee a constant food supply. The Indonesian government promotes irrigation-based food programs through community contracting to

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revitalize low-land areas for crops and cash inflows.

2. Application

2 Application

Smart Smart Irrigation Irrigation Market Market (by (by Application) Application) Smart Smart Irrigation Irrigation Market Market (by (by Agricultural) Agricultural) Smart Smart Irrigation Irrigation Market Market (by (by Non-Agricultural) Non-Agricultural) Demand Demand Analysis Analysis of of Smart Smart Irrigation Irrigation Market Market (by (by Application) Application) Demand Analysis of Smart Irrigation Market (by Demand Analysis of Smart Irrigation Market (by Agricultural) Agricultural) Demand Demand Analysis Analysis of of Smart Smart Irrigation Irrigation Market Market (by (by Non-Agricultural) Non-Agricultural)

Section Section Summary Summary

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

A commercial understanding of each application category through a market potential and analysis of key growth factors Demand forecast of applications in scope across their specific areas Demand analysis of global smart irrigation market

2.1 Global Smart Irrigation Market (by Application) Irrigation is the process of supplying adequate amounts of water primarily to agricultural land. The applications of irrigation have increased with time which has led to increased use of water. A majority percentage of the freshwater is used in irrigation which has led to major concerns of water wastage. Smart irrigation solutions have been deployed to cater to this issue and increase irrigational efficiency, thereby decreasing water wastage. Through increased government initiatives promoting water conservation in irrigation, companies operating in the global smart irrigation market have started to offer smart irrigation solutions specifically designed for a wide range of applications. The application section of the global smart irrigation market is divided into agricultural and non-agricultural applications. The agricultural applications of smart irrigation solutions include open field and plant factory. The non-agricultural applications of smart irrigations include residential, golf course and sports ground, and turf and landscape.

Fig ure 12 : Glo b al Smart Irrig at io n M ark e t ( b y App licat io n) Global Smart Irrigation Market (by Application)

Agricultural

Open Field

Non-Agricultural

Plant Factory

Residential

Golf Course and Sports Ground

Turf and Landscape

2.1.1 Agricultural Agriculture is one of the biggest and the most revenue generating industries in the world. Agriculture also plays a huge role in the overall economy of many countries such as India and Australia. Large amounts of resources are required to perform agricultural activities around the world. Irrigation is one of the key factors that have a huge role in the output of agricultural operations. Agriculture is one of the foremost consumers of water, accounting for about XX% of global freshwater withdrawals.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Source: BIS Research Analysis

Tab le 5:

So lut io ns fo r Plant Fact o ry Ag ricult ure Off e re d b y Ke y Co mp anie s Op e rat ing in t he Glo b al Smart Irrig at io n M arke t

Company

Product

Description

Flopro Irrigatia

Flopro Irrigatia Eco Smart Watering 24

The Flopro Irrigatia Eco Smart Watering 24 is a complete smart irrigation solution for a plant factory.

Sample

Source: BIS Research Analysis

The preceding table lists some key solutions for plant factory agriculture offered by leading smart irrigation companies in different parts of the world.

2.1.2 Non-Agricultural Irrigation and smart irrigation solutions not only have applications in the agricultural industry but also have multiple applications in non-agricultural sectors. Applications for smart irrigation solutions in non-agricultural sectors include residential, golf course and sports ground, and turf and landscape. There is huge wastage of water in all forms of conventional irrigation applications, which has led to the scope of smart irrigation solutions in other industries as well. Companies that are operating in the global smart irrigation market also offer dedicated smart irrigation solutions for different industries. These solutions are designed to provide maximum efficiency in that particular application of the product, which leads to less water usage and more water conservation in irrigation.

2.1.2.1 Residential Residential irrigation is a huge application of smart irrigation solutions. Houses under construction, along consumer installs an irrigation system. Conventional irrigation systems are manual and inefficient with respect to proper water management. Also, there is insufficient monitoring over lawn grass in this type of irrigation which leads to improper grass growth. Residential smart irrigation solutions are offered by various smart irrigation solution providers that enable an automated irrigation system for homeowners. The majority of the smart irrigation solutions deployed for residential irrigation include lawn sprinklers and drip irrigation systems. The use of sensors and controllers in these systems enables automation of the complete irrigation system. This leads to efficient water

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with houses with complete construction, require irrigation. Private lawns are one of the reasons why

management in the irrigation process. There is a wide range of residential smart irrigation solutions offered by companies operating in the global smart irrigation market.

2.2 Demand Analysis of the Global Smart Irrigation Market (by Application) The application segment includes agricultural and non-agricultural segments. The global smart irrigation market in the application segment is expected to be dominated by non-agricultural applications due to the huge wastage of water in all forms of conventional irrigation applications.

Tab le 6:

Glo b al Smart Irrig at io n M ark e t ( b y App licat io n) , $M illio n, 2 02 0- 2 02 6

Application

2020

2021

2022

2023

2024

2025

2026

CAGR

Agricultural

Non-Agricultural

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

2.3 Demand Analysis of the Global Smart Irrigation Market (by Agricultural) The agricultural applications of smart irrigation solutions include open field and plant factory. The majority of the global agricultural industry is dominated by open fields or conventional agricultural activities. Open field agriculture activities have been prevalent for centuries and have become one of the biggest industries all across the world.

Glo b al Smart Irrig at io n M ark e t ( b y Ag ricult ural) , $ M illio n, 2 02 0- 2 02 6

Agricultural

2020

2021

2022

2023

2024

2025

2026

CAGR

Open Field

Plant Factory

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

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Tab le 7:

33. Product Products

Smart Smart Irrigation Irrigation Market Market (by (by Component) Component) Smart Smart Irrigation Irrigation Market Market (by (by System) System) Smart Smart Irrigation Irrigation Market Market (by (by Business Business Model) Model) Demand Demand Analysis Analysis of of Smart Smart Irrigation Irrigation Market Market (by (by Component) Component) Demand Analysis of Smart Irrigation Market (by Demand Analysis of Smart Irrigation Market (by System) System)

Section Section Summary Summary

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

A commercial understanding of each product offering category through a market potential and analysis of key growth factors Demand forecast of products in scope across their specific technology and solution areas Demand analysis of global smart irrigation market

3.1 Global Smart Irrigation Market (by Product) The process of smart irrigation involves the use of a combination of products that together enable a complete smart irrigation system. Through advancement in technology, products have been developed, such as controllers and sensors that help in automating the irrigation process. Automation in irrigation leads to smart irrigation, which entails a wide range of benefits over conventional irrigation. Smart irrigation decreases the wastage of water as through sensors and controllers, irrigation is done as and when required. There is a wide range of components and systems that enable smart irrigation in various applications such as agricultural, residential, sports grounds, and landscape. The product section of the global smart irrigation market is divided into component, system, and business model. The components deployed in smart irrigation systems include controller, sensor, water flow meter, and others. The two basic systems used in smart irrigation include weather and sensor-based controller systems.

Fig ure 13 : Glo b al Smart Irrig at io n M ark e t ( b y Prod uct ) Global Smart Irrigation Market (by Product)

Component

System

Business Model

Source: BIS Research Analysis

3.1.1 Global Smart Irrigation Market (by Component) Components are the individual hardware and software solutions required in setting up a complete smart irrigation system. These components help in automating the irrigation process that leads to increased irrigational efficiency along with decreased water consumption and wastage. Irrigation components reduce sensors increases precision in the system. This section provides insights on different components for smart irrigation, their market size, factors driving the market, and major services available in the market. Smart irrigation components primarily include controller, sensor, water flow meter, and others. Components covered in the others section include pump, adapters, sprinklers, water pump, and connecting wires, among others.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

the dependence on human beings, which leads to remote access of irrigation systems, and the use of

3.1.2 Global Smart Irrigation Market (by System) Smart irrigation systems include a complete irrigation setup that can be deployed in several applications such as residential, sports grounds, landscape, and agriculture, among others. These systems offer end-toend coverage over processes involved in smart irrigation with components such as sensors, controllers, water flow meters, sprinklers, water pumps, and nozzles, among others. This section provides insights on different systems for smart irrigation, their market size, factors driving the market, and major services available in the market. Smart irrigation systems are primarily divided into weather-based and sensor-based controller systems.

Fig ure 14 : Glo b al Smart Irrig at io n M ark e t ( b y Sys t e m) Market (by System)

Weather-Based Controller System

Sensor-Based Controller System

Source: BIS Research Analysis

3.1.2.1 Weather-Based Controller System In a weather-based irrigation controller system, the controller automatically modifies the watering program based on local weather circumstances. The controller lowers the amount of watering when the weather cools down and adds time when it heats up. Smart timers apply irrigation only when needed. Weather-based control uses local evapotranspiration (ET) data to determine irrigation needs and schedules.

The product segment for the global smart irrigation market includes irrigation components and irrigation systems. These components are the equipment that are required to make a conventional irrigation system into a smart irrigation system. The irrigation system offered by companies is a complete solution to cover all the aspects of a smart irrigation setup.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

3.2 Demand Analysis of Global Smart Irrigation Market (by Product)

3.2.1 Demand Analysis of Global Smart Irrigation Market (by Component) The component segment for the global smart irrigation market includes controller, sensor, water flow meter, and others. The global smart irrigation market in the component segment is expected to be dominated by controller, followed by sensor. Controllers and sensors are used to enable a smart irrigation system to be deployed in agricultural and non-agricultural applications.

Tab le 8:

Glo b al Smart Irrig at io n M ark e t ( b y Co mp o ne nt ) , $M illio n, 2 02 0- 2 02 6

Component

2020

2021

2022

2023

2024

2025

2026

CAGR

Controller

Sensor

Water Flow Meter

Others

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

3.2.2 Demand Analysis of Global Smart Irrigation Market (by System) The system segment for the global smart irrigation market includes weather-based controller system and sensor-based controller system. The global smart irrigation market in the system segment is expected to be dominated by weather-based controller system. This is due to the better accuracy and multiple applications of these controllers in the field.

Glo b al Smart Irrig at io n M ark e t ( b y Sys t e m) , $M illio n, 2 02 02 02 6

System

2020

2021

2022

2023

2024

2025

2026

CAGR

Weather-Based Controller System

Sensor-Based Controller System

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Tab le 9:

3.3 Patent Analysis The world is moving toward digitization and automation, which is being incorporated in a wide range of industries. Irrigation is a major aspect that has a wide range of applications, both agricultural and nonagricultural. Smart irrigation aims at increasing automation in irrigation systems using smart sensors and controllers to improve efficiency. Increased research and government initiatives are expected to drive the market in the forecast period 2021-2026. Some key players operating in the global smart irrigation market are Banyan Water, Inc., Caipos GmbH, Calsense, ET Water Systems, Inc., Galcon, Hunter Industries, HydroPoint, Jain Irrigation, Inc., Netafim, Orbit Irrigation Products LLC, Rachio inc., and Rain Bird Corporation. Patents have been filed on smart irrigation, and with further development in the field, the market is expected to grow in the next decade. Since 2005, a total of XX patents have been filed related to the global smart irrigation market, and XX patents were filed post-2017.

Fig ure 15 : Glo b al Smart Irrig at io n Pat e nt Tre nd ( 20 05 - 20 21 )

XX XX Number of Patents

XX XX

XX XX XX XX XX XX

XX XX XX

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Year

Fig ure 16 : Ye ar- Wis e Tot al N umbe r of Pat e nts f o r t he Glo b al Smart Irrig at io n M ark e t , January 2 01 7- De ce mb e r 20 21

Total Number of Patents Analyzed: XX

Number of Patents

XX XX

2017

2018

2019

2020

2021

Year Source: BIS Research Analysis

The preceding figure illustrates the number of patents analyzed year-wise. The total number of patents analyzed in 2017 were XX. In the following year, XX relevant patents were analyzed. In 2019 and 2020, XX and XX patents were analyzed related to smart irrigation. Seven hundred forty-six patents have been analyzed in 2021, including patents filed and granted. The increase in the patents filed in 2019 signifies the growth and development activities being conducted in the global smart irrigation market. With the increased patents, the global smart irrigation market is expected to grow in the forecast period 2021-2026.

3.3.1 Patent Analysis (by Status) Fig ure 17 : Pat e nt Analys is ( b y St at us ) , January 20 17 -De ce mb e r 2 02 1

XX Filed Granted

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Total Number of Patents Analyzed: XX

44. Region Region

North North America America South South America America Europe Europe U.K. U.K. Middle Middle East East and and Africa Africa China China Asia-Pacific Asia-Pacific

Section Section Summary Summary

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Detailed coverage of markets, applications, and products across seven key regions of the world Detailed information available for key countries within each region, such as the U.S., Canada, Mexico, the U.K., Germany, France, China, Japan, South Korea, and India Key smart irrigation service providers in each region and country tracked to evaluate various market drivers and challenges Effective assessment of buyer attributes in each country for product positioning and strategic planning

This chapter covers the regional analysis of the global smart irrigation market with respect to different regions, namely, North America, Europe, the U.K., China, Asia-Pacific, Middle East and Africa, and South America. The chapter focuses on a country-level analysis and provides the market size in terms of value. This chapter also provides the regional and country-level market segmentation by product and offerings. The chapter identifies the key growth enablers based on a detailed push-and-pull force analysis. The chapter analyzes the ongoing trends in the smart irrigation industry in major regions by probing into the past and present legislative regulations, macro-and micro-economic factors, and the significant initiatives taken by key smart irrigation solution providers in their respective regions. The countries included in the North America region are the U.S., Canada, and Mexico. The countries included in the Europe region are Germany, France, and Spain. The countries included in the Asia-Pacific and Japan region are Japan, South Korea, Australia, and India.

Tab le 10 : Glo b al Smart Irrig at io n M ark e t ( b y Re g io n) , $M illio n, 2 02 02 02 6 Region

2020

2021

2022

2023

2024

2025

2026

CAGR

North America

Asia-Pacific

China

Europe

U.K.

Middle East and Africa

South America

Total

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Note: CAGR (2021-2026)

U.S., Canada, and Mexico

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

North America

4.1 North America North America is one of the most technologically advanced regions in the world. Farm equipment and software providing companies in the region actively come up with modern products that enable an improved farming experience for farmers wherein more emphasis is given on productivity and efficiency. Also, government and regulatory bodies in the region have been actively working to manage water use effectively, thereby decreasing water wastage. Irrigation is an integral part of conventional and modern farming techniques. Irrigation also has application in non-agricultural purposes such as residential, sports grounds, turf, and landscape, among others. Due to the presence of smart irrigation equipment providers in the North America region along with government initiatives driving the sector, the smart irrigation market in the North America region is expected to grow by manifolds during the forecast period 2021-2026. Also, the North America smart irrigation market is expected to lead the global smart irrigation market along with Europe.

4.1.1 Market 4.1.1.1 Key Providers Operating in the North America 

Rain Bird Corporation



The Toro Company



Hunter Industries



HydroPoint



Stevens Water Monitoring Systems



Galcon



Rachio inc.



Weathermatic

4.1.1.2 Business Drivers High technological advancement in the region, along with high emphasis from the governing and regulatory bodies on modern equipment, is expected to fuel the smart irrigation market in the North America region.

4.1.1.3 Business Challenges High initial investment in achieving a complete smart irrigation infrastructure setup might become a hindrance for small and medium-scale farmers and might affect the adoption of smart irrigation solutions in the agricultural industry.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Also, the presence of smart irrigation solution providers is expected to drive the market in North America.

4.1.2 Application 4.1.2.1 North America Smart Irrigation Market (by Application), $Million, 20202026 Tab le 11 : N o rt h Ame rica Smart Irrig at io n M ark et ( b y App licat io n) , $ M illio n, 2 02 0- 20 26 Application

2020

2021

2022

2023

2024

2025

2026

CAGR

Agricultural

Non-Agricultural

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

4.1.2.2 North America Smart Irrigation Market (by Agricultural), $Million, 20202026 Tab le 12 : N o rt h Ame rica Smart Irrig at io n M ark et ( b y Ag ricult ural) , $ M illio n, 2 02 0- 20 26 Agriculture

2020

2021

2022

2023

2024

2025

2026

CAGR

Open Field

Plant Factory

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

4.1.2.3 North America Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026

Non-Agriculture

2020

2021

2022

2023

2024

2025

2026

CAGR

Residential

Golf Course and Sports Ground

Turf and Landscape

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Tab le 13 : N o rt h Ame rica Smart Irrig at io n M ark et ( b y No n- Ag ricult ural) , $ M illio n, 2 02 0- 20 26

4.1.3 Product 4.1.3.1 North America Smart Irrigation Market (by Component), $Million, 20202026 Tab le 14 : N o rt h Ame rica Smart Irrig at io n M ark et ( b y Co mp o ne nt ) , $ M illio n, 2 02 0- 20 26 Component

2020

2021

2022

2023

2024

2025

2026

CAGR

Controller

Sensor

Water Flow Meter

Others

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

4.1.3.2 North America Smart Irrigation Market (by System), $Million, 2020-2026 Tab le 15 : N o rt h Ame rica Smart Irrig at io n M ark et ( b y Sys t e m) , $M illio n, 2 02 0- 2 02 6 System

2020

2021

2022

2023

2024

2025

2026

CAGR

Weather-Based Controller System

Sensor-Based Controller System

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

4.1.4 North America (by Country)

Country

2020

2021

2022

2023

2024

2025

2026

CAGR

U.S.

Canada

Mexico

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Tab le 16 : N o rt h Ame rica Smart Irrig at io n M ark et ( b y Co unt ry) , $M illio n, 2 02 0- 2 02 6

4.1.4.1 U.S. The U.S. is the world’s largest economy in the world. It has the most advanced technology, coupled with a powerful economy. According to the World Bank, the U.S. has the largest global economy, with a GDP of $XX trillion in 2019. One of the major reasons for the increased adoption of modern equipment in almost all the industries in the U.S. is the presence of modern solution providers along with increased government initiatives to uplift the industries. In the smart irrigation sector, government bodies in the country have been taking active initiatives to reduce water wastage and formulate techniques for effective water management, especially in the irrigation segment. Also, the presence of solution providers for irrigation equipment has been able to provide consumers with a wide range of choices that best suits their needs. The market for smart irrigation in the U.S. is expected to drive the North America smart irrigation market.

4.1.4.1.1 Market 4.1.4.1.1.1 Buyer Attributes Due to high technological advancement in the U.S., the awareness of smart and modern irrigation solutions for agricultural and non-agricultural applications is high. The major crops grown in the U.S. include corn and soybeans, among others. The U.S. is known as the corn belt. In fact, due to corns having deep roots, the water requirement is usually high; and soybean crop is one of the most water-intensive crops. Moreover, there are around XX million acres of lawn and turf grass occupies more than XX% continental area of U.S. Hence it requires water on time for proper growth and maintenance. Therefore, the need for an efficient manner of using water is integral. This can be achieved using smart irrigation techniques.



Rain Bird Corporation



The Toro Company



Hunter Industries



HydroPoint



Stevens Water Monitoring Systems



Galcon



Rachio inc.



Weathermatic

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

4.1.4.1.1.2 Key Providers Operating in the U.S.

4.1.4.1.1.3 Business Challenges One of the major challenges for the better adoption of smart irrigation solutions in the U.S. is the unaffordability among small and medium-scale farmers on smart irrigation equipment. Also, low technical knowledge on the correct use of these solutions is expected to hinder the growth in the market. 4.1.4.1.1.4 Business Drivers High technological advancement along with the increased emphasis on agricultural efficiency is expected to be the primary driver for the growth and adoption of the smart irrigation market in the U.S. as agricultural applications of irrigation solutions are expected to dominate the market.

4.1.4.1.2 Application 4.1.4.1.2.1 U.S. Smart Irrigation Market (by Application), $Million, 2020-2026 Tab le 17 : U.S. Smart Irrig at io n M ark et ( b y Ap p licat io n) , $M illio n, 2 02 02 02 6 Application

2020

2021

2022

2023

2024

2025

2026

CAGR

Agricultural

Non-Agricultural

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

4.1.4.1.2.2 U.S. Smart Irrigation Market (by Agricultural), $Million, 2020-2026

Agriculture

2020

2021

2022

2023

2024

2025

2026

CAGR

Open Field

Plant Factory

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

4.1.4.1.2.3 U.S. Smart Irrigation Market (by Non-Agricultural), $Million, 2020-2026 Tab le 19 : U.S. Smart Irrig at io n M ark et ( b y N o n- Ag ricult u ral) , $ M illio n, 2 02 0- 2 02 6 Non-Agriculture

2020

2021

2022

2023

2024

2025

2026

CAGR

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Tab le 18 : U.S. Smart Irrig at io n M ark et ( b y Ag ricult u ral) , $ M illio n, 2 02 02 02 6

Residential

Golf Course and Sports Ground

Turf and Landscape

Total

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Note: CAGR (2021-2026)

4.1.4.1.3 Product 4.1.4.1.3.1 U.S. Smart Irrigation Market (by Component), $Million, 2020-2026 Tab le 20 : U.S. Smart Irrig at io n M ark et ( b y Co mp o ne nt ) , $ M illio n, 2 02 02 02 6 Component

2020

2021

2022

2023

2024

2025

2026

CAGR

Controller

Sensor

Water Flow Meter

Others

Total

Source: BIS Research Analysis Note: CAGR (2021-2026)

4.1.4.1.3.2 U.S. Smart Irrigation Market (by System), $Million, 2020-2026 Tab le 21 : U.S. Smart Irrig at io n M ark et ( b y Sys t e m) , $ M illio n, 2 02 0- 2 02 6 System

2020

2021

2022

2023

2024

2025

2026

CAGR

Weather-Based Controller System

Sensor-Based Controller System

Total

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Note: CAGR (2021-2026)

5 Markets - Competitive Company Profiles

5. Market

Benchmarking

Competitive Benchmarking and Company Profiles

Competitive Competitive Benchmarking Benchmarking Company Company Profiles Profiles Company Company Overview Overview Business Business Strategies Strategies Competitive Competitive Positioning Positioning

Section Section Summary Summary

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Examination of competitive position of XX key players in terms of geographical presence, product portfolio, strengths, and weaknesses Evaluation of each company in terms of its organic and inorganic business initiatives to assess possible risks and opportunities

5.1 Competitive Benchmarking This segment intends to evaluate and compare a list of key companies in the global smart irrigation market. This benchmarking focuses explicitly on companies that offer smart irrigation services controllers, sensors, and water flow meters, among others. Each company is assessed based on critical factors that indicate its presence and potential when compared against other companies in the market. The broad factors of evaluation used in this competitive benchmarking include market coverage and market potential. The evaluation factors are explained as follows:

Market coverage: It indicates a company’s strength in the global smart irrigation market in terms of sections covered through different product types offered, various applications catered to, and its regional presence, along with the impact of key market strategies adopted.

Market potential: It indicates a company’s strength in the global smart irrigation market based on its brand image, presence in the global smart irrigation market post commercialization, employee strength, patent strength, and brand image. The score in this category implies a company’s potential to grow in the global smart irrigation market.

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Fig ure 18 : Co mp e t it ive Be nchmark ing : M ark et H ig h and Lo w M at rix

The preceding figure illustrates the competitive benchmarking of XX key smart irrigation companies in the market using a matrix. The companies evaluated include Netafim, Rain Bird Corporation, Orbit Irrigation Products LLC, Jain Irrigation Systems Ltd., The Toro Company, Hunter Industries, HydroPoint, Stevens Water Monitoring System inc., Skydrop, Banyan Water Inc., RainMachine - Green Electronics LLC, CALSENSE, Galcon, Rachio inc., and Scotts Irrigation & Landscaping.

The competitive benchmarking matrix segments the market players into four categories or segments named here as A, B, C, and D. These segments are discussed in detail as follows:

Segment A: These companies lead the market by the innovation of products, diversification of product portfolio, substantial market share, and prominent clientele. In recent years, they have made robust strategies to become market leaders as the concept of the global smart irrigation market grows. Comprehensive market coverage based on significant market shareholding technologies and applications served along with the development of strong market leadership allows them to expand their potential to grow in the global smart irrigation market in the next XX-XX years. Netafim and The Toro Company are companies that are considered leaders in the global smart irrigation market.

Segment B: These companies possess strength in the global smart irrigation market due to their more prominent market coverage. The significant market coverage is majorly credited to the possession of the product portfolio that serves various applications that holds a considerable market share. In recent years, these companies have taken strong decisions to increase their global smart irrigation market coverage capability, which has successfully given them a competitive advantage in their domain. However, these market players have the scope to build upon their leadership in different ways, such as increasing investment in R&D or growing brand popularity. This includes companies such as Rain Bird Corporation, Orbit Irrigation Products LLC, Jain Irrigation Systems Ltd., Hunter Industries, and HydroPoint, among others.

Segment C: These companies are either new to the smart irrigation market or concentrate on a niche market area. The product offerings by these companies do not necessarily cover an extensive market shareholding application, geography covered, or market strategies executed. These companies also possess an ‘emerging’ status in the market where they have scope to improve their leadership status to Monitoring System inc., Skydrop, Banyan Water Inc., RainMachine – Green Electronics LLC, Galcon, Rachio inc., among others.

Segment D: These companies possess a large market potential in the global smart irrigation market over the years by building their manpower and inventory. These companies have also gained significant market popularity, both offline and online. With this leadership strength in the market, they have significant potential to build global smart irrigation market coverage by serving a high-value holographic display application area or expanding for a wider geographical presence. This includes companies such as CALSENSE and Scotts Irrigation & Landscaping, among others. 58 All rights reserved at BIS Research Inc.

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

invest further into the global smart irrigation market. This includes companies such as Stevens Water

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

5.2 Market Share Analysis The global smart irrigation market comprises players, such as Netafim, Rain Bird Corporation, Orbit Irrigation Products LLC, Jain Irrigation Systems Ltd., The Toro Company, Hunter Industries, HydroPoint, Stevens Water Monitoring System inc., Skydrop, Banyan Water Inc., RainMachine-Green Electronics LLC, CALSENSE, Galcon, Rachio inc., and Scotts Irrigation & Landscaping. Amongst these, the market share analysis for the smart irrigation key players has been provided.

5.2.1 Market Share Analysis of Global Smart Irrigation Companies Smart irrigation key players include companies providing irrigation services and technologies for agricultural purposes. The company profile covers smart irrigation services controllers, sensors, and water flow meters, among others. The global smart irrigation market is at an early stage, and therefore only a few key companies are dominating players in the market. Companies including Netafim, The Toro Company, Orbit Irrigation Products LLC, Hunter Industries, and HydroPoint collectively account for approximately XX% of the global smart irrigation market. Smart irrigation is at an early stage of development wherein major companies have captured a minute market share.

Fig ure 19 : M ark e t Share Analys is of Smart Irrig at io n Co mp anie s , 2 02 0

Market Size 2020: $XX Million

Netafim

The Toro Company

Orbit Irrigation Products LLC

XX XX

Hunter Industries

HydroPoint

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Others

5.3 Company Profiles 5.3.1 Banyan Water, Inc. 5.3.1.1 Company Overview Particulars

Specifications (as of 2020)

Website

www.banyanwater.com

Headquarters

U.S.

Year of Establishment

2011

Ownership Type

Private

Employees

XX+ (as per LinkedIn)

Competitors

Orbit Irrigation Products LLC, Galcon, HydroPoint, Rachio inc, Skydrop, and Stevens Water Monitoring Systems Inc., among others

Source: Banyan Water, Inc. Website and BIS Research Analysis

5.3.1.1.1 Role of Banyan Water, Inc. in the Global Smart Irrigation Market Banyan Water, Inc. is one of the leading U.S.-based companies providing solutions on data-based water conservation. It operates in segments such as homes, offices, campuses, retail, and hospitality. The company has saved over four billion gallons of water since its beginning, with XX million gallons saved and $XX million in valuation created in 2020. The company provides solutions such as the banyan water canal and insights into irrigation, indoor water use, and cooling towers. It performs functions such as understanding the real-time water use, predicting the water usage and the total costs incurred, comparing the cost of the actual water use and the budgeted money, and avoiding hidden leaks, among others.

5.3.1.1.2 Product Portfolio

Product

Description

Banyan Water Canal

It is an equipment for the professionals to supervise the water use. It displays the data analytics, and insights about the water being used on a property or the cluster of properties.

Banyan Water’s Irrigation Insight

It uses the latest technology available to effectively monitor water on a property, resulting in long-term water savings without compromising landscape health.

Source: Banyan Water, Inc. Website and BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Tab le 22 : Banya n Wat e r, Inc.: Pro d uct Po rtf o lio

5.3.1.2 Business Strategy 5.3.1.2.1 Acquisitions Tab le 23 : Banya n Wat e r, Inc.: Acq uis it io ns Company A

Grupo Rotoplas

Company B

Banyan Water, Inc.

Date

Description

November 2021

Grupo Rotoplas is an American company. It is a leading company that deals in water products and services. Grupo Rotoplas confirmed the acquisition of a minor stake in the BnayanBanyan Water, Inc. This would help the Rotoplas company develop and commercialize the new software and digital solutions of water management.

Source: Banyan Water, Inc. Website and BIS Research Analysis

5.3.1.3 Strength and Weakness of Banyan Water, Inc. Strength  The company has been awarded the 2021 Sustainability Leadership award by the Business Intelligent Group; thus, it adds to the brand value of the company.  The company was established in 2011, yet in such a short time, the company has been able to establish a significant market presence in the U.S.

Weakness

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

 The company has not been able to establish a market presence outside North America which would hinder the company’s growth in the global market.

5.3.16 Other Key Players The global smart irrigation market has been responsible for growth in agriculture. Applications of smart irrigation have increased water efficiency by managing timely irrigation in the field. Through the availability of sensors, irrigation becomes easy and can be controlled and managed remotely, and data can be well organized. There are a number of companies operating in the global smart irrigation market, including certain start-up companies that aim at establishing a significant position in the global market. The following are the other key players and startups that operate in the global smart irrigation market.

Year of Establishhment

Role in Smart Irrigation Market

2013

AgMonitor, Inc is a software suite that helps farmers make better decisions about crop production and profit margins. AgMonitor's hardware-free platform is ideal for growers aiming to boost productivity while reducing water, fertilizer, and energy inputs at half the cost of previous systems.

Antelco (en-AU)

1981

Antelco manufactures high-quality irrigation solutions for homeowners, landscapers, and agricultural markets across the world in order to promote water conservation. The company specializes in micro-irrigation, research and development, manufacturing, irrigation, landscaping, and farming.

Sample

Organization

Agmonitor, Inc

Source: Expert Interviews and BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Tab le 24 : Ot he r Ke y Playe rs in t he Glo b al Smart Irrig at io n M ark et

6. Research Methodology 6.1 Data Sources 6.1.1 Primary Data Sources The primary sources involve the industry experts from the smart irrigation industry and various stakeholders and irrigation products providers. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.

The key data points taken from primary sources Include:  validation and triangulation of all the numbers and graphs  validation of reports segmentation and key qualitative findings  understanding the competitive landscape  validation of the numbers of various markets for market type  percentage split of individual markets for geographical analysis

6.1.2 Secondary Data Sources This research study involves the usage of extensive secondary research, directories, company websites, and annual reports. It also makes use of databases, such as ITU, Hoovers, Bloomberg, Businessweek, and Factiva, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global market. In addition to the aforementioned data sources, the study has been undertaken with the help of other data sources and websites, such as the U.S Geological Survey and Natural Resources Canada. Secondary research was done in order to obtain crucial information about the industry’s value chain, revenue models, the market’s monetary chain, the total pool of key players, and the current and potential

The key data points taken from secondary research include:  segmentations and percentage shares  data for market value  key industry trends of the top players of the market  qualitative insights into various aspects of the market, key trends, and emerging areas of innovation  quantitative data for mathematical and statistical calculations

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

use cases and applications.

6.1.3 Data Triangulation This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global smart irrigation market. The process of market engineering involves the calculation of the market statistics, market size estimation, market forecast, market crackdown, and data triangulation (the methodology for such quantitative data processes is explained in the further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market.

Source: BIS Research Analysis

G l o b a l Sm a r t I r r i g a t i o n M a r k e t

Fig ure 20 : Dat a Triang ulat io n

6.2 Market Estimation and Forecast The main task for a thorough analysis of the global smart irrigation market has been to identify the set of underlying factors. In this case, the following figure exhibits the detailed methodology adopted for estimating and forecasting the global smart irrigation market.

Fig ure 21 : To p- Do wn and Bo t t o m- Up Ap p ro ach

Source:

BIS

Research

Analysis

6.2.1 Factors for Data Prediction and Modelling The following figure exhibits the standard assumptions and limitations followed throughout the research study named global smart irrigation market:

 The market revenue has been calculated based on global smart irrigation production.  The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year.  The currency conversion rate has been taken from the historical exchange rate of the Oanda website.  Nearly all the recent developments from January 2019 to January 2022 have been considered in this research study.  The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis. 66 All rights reserved at BIS Research Inc.

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 The scope of this report has been focused on various types of smart irrigation and application industries as well.

 Where relevant information was not available, proxy indicators and extrapolation have been employed.  Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.  Technologies currently used are expected to persist through the forecast with no major breakthroughs in technology.

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Fig ure 22 : As s umpt io ns and L imit at io ns

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