Internet of Things Intelligent Irrigation System Market Size, Trends, Share, Growth, and Opportunity Forecast, 2024 - 2031 Global Industry Analysis By System Type (Sensor-based, Weather-based, Hybrid), By Application (Agriculture, Landscaping, Precision Ag), By Component (Controllers, Sensors, Network Devices, Software), By Deployment Model (On-Premise, Cloud-based, Hybrid), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Market Overview

The Global Internet of Things Intelligent Irrigation System Market size was valued at USD 1.21 Billion in 2023 and is anticipated to reach a value of USD 3.36 Billion by 2031 expanding at a CAGR of 13.7% between 2024 and 2031.

The internet of things (IoT) intelligent irrigation system market is a new innovative amalgamation of agricultural service and technology and advanced communication institutions to regulate the systematic utilization of water for crops. Smart irrigation systems use IoT devices and networks and involve the prescription of sophisticated sensors, data identification, evaluation procedures, and a functional control approach to checking the moisture within the soil, overall climatic conditions, and well-being of the plants growing in the fields. They assist in controlling the amount of water that is to be used during irrigation; this helps in avoiding wastage of water when conducting farming. Since water shortage is now one of the most pressing issues in global society, the utilization and application of smart irrigation systems are growing due to the enhanced demand for effective usage of water resources to increase crop productivity. Particularly in the market for irrigation, the application of IoT has been rapidly adopted, making traditional irrigation systems smarter or self-decision-making systems. Some of the characteristics of these systems are monitoring and management from a remote location, the possibility of predicting the amount of water needed for irrigation, and the integration with the weather forecast, which makes the schedule more precise. Consequently, such innovation benefits small and medium-sized agricultural businesses and enterprises and appeals to large-scale farming companies as well.

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Internet of Things Intelligent Irrigation System Market Major Driving Forces

Water Scarcity Concerns: Increasing global concerns of water availability spur the use of IoT intelligent irrigation systems in water management and proper watering.

Need for Water Conservation: Expansion of the consumers’ awareness of water saving and enhancement of the regulation on water usage promote the need for smart irrigation systems that help to reduce water losses in agriculture and to enhance the sustainability of agriculture.

Enhanced Crop Yield and Quality: Through the use of, IoT in irrigation systems you can be able to detect soil moisture, weather condition and crop health and this will lead to quality, yield and resilience to change in weather conditions.

Technological Advancements: Recent innovations in IoTT, sensors, as well as data analysis make the intelligent irrigation systems more efficient, as well as cost-effective for the farmers. 

Internet of Things Intelligent Irrigation System Market Key Opportunities

Expansion in Emerging Markets: Emerging economy’s rising diet dependence on agriculture products, along with speedy urbanization, can be considered to offer significant growth prospects for IoT intelligent irrigation systems.

Integration with Precision Agriculture: Increased use of precision agriculture means that farmers are willing to use IoT irrigation systems as part of other smart farming solutions for farms.

Advancements in Sensor Technology: IoT irrigation solution stays relevant due to the advancements in the gadgetary that enables provision of improved solutions for agriculture.

Internet of Things Intelligent Irrigation System Market Key Trends

·         Increase of the precision agriculture practices.

·         The integration of IoT with smart farming technologies.

·         New developments in sensors for better precision.

·         Major on strategies for water conservation.

·         Investment in newly industrialized agricultural export markets.

·         Integration of big data and analytic solutions and artificial intelligence.

·         Global increase in smart city programs that encourage urban agricultural practices.

·         Hiking grants and subsidization from the government.

·         Specificity and openness of the IoT application.

·         Transition from direct to farmer control and e-business.

·         Focus on adaptation interventions in agriculture.

·         New technology in tele monitoring and tele control.

Region-wise Market Insights

North America accounted for the largest market share at 33.3% in 2023 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 4.1% between 2024 and 2031.

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Regions such as North America and Europe, which are already developed in the agricultural industry but have issues regarding water and thus represent a stable, albeit slow-growing, market. Here, the concern is more with irrigation structures and trying to make them better. Latin America, the Middle East, and Africa can be considered growth markets. The increase in disposable income, the increase in the availability of agricultural activities, and awareness of water conservation exercises are instrumental to the growth of the market in these regions. Nevertheless, such things as inadequate infrastructure and poor access to the internet in some regions present some challenges. The regional perspective is expected to retain Asia Pacific’s dominance, while Europe, North America, and other developed areas will focus on enhancing already-implemented systems; developing states, on the other hand, will prove to be burgeoning prospects. Therefore, this market should focus on overcoming the existing infrastructure deficiencies, making the price reasonable for farmers, and stimulating the use of advanced technologies in irrigation.

Market Competition Landscape

The Internet of Things (IoT) Intelligent Irrigation System Market has a fragmented competitive structure where a larger number of companies are involved alone, with new entrants competing for market share. The largest players in the automation sector already have an advantage because they are veteran providers of irrigation systems using IoT. However, young and innovative companies that offer smart irrigation solutions are gradually gaining clientele due to the easy-to-use touch interface, data analysis, and relative specialization of these devices. Furthermore, there is a growing threat of the entry of new players, such as Google and Alibaba, providing cloud solutions and data management services. Many companies are going for mergers and acquisitions because of diversification and the extension of product lines as well as markets. The future, therefore, will be characterized by incumbent firms dedicating more resources to R&D to stay ahead while maintaining innovation through startup firms. Probably, the growth of the market will depend on the further collaboration of irrigation companies, technology suppliers, and agricultural organizations.

Key players in the global Internet of things intelligent irrigation system market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         The Toro Company

·         Hunter Industries

·         Rain Bird Corporation

·         Nelson Irrigation Corporation

·         Lavinia Technologies (startup)

·         Semios (startup)

·         Trelleborg (agricultural solutions)

·         Netafim (irrigation company)

·         The Climate Corporation (acquired by Bayer in 2013)

·         Google (cloud & data platforms)

·         Alibaba (cloud & data platforms)

·         Tencent (potential future entrant - cloud & data)

·         Lindsay Corporation (irrigation equipment)

·         Iridium Satellite LLC (communication solutions)

·         Skyworks Solutions (IoT connectivity components)