LONDON--(BUSINESS WIRE)--The global automatic irrigation equipment market is expected to post a CAGR of more than 14% during the period 2019-2023, according to the latest market research report by Technavio.
Government and non-government bodies in most of the countries across the world are emphasizing sustainable agriculture practices. Improving the irrigation system is one of the essential factors for promoting sustainable agriculture practices on a global scale. Thus, governments are offering farm assistance loans to automate the irrigation system in agriculture. Such initiatives are expected to impact the global automatic irrigation equipment market.
As per Technavio, the growing popularity of solar-powered automatic irrigation systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automatic irrigation equipment market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automatic irrigation equipment Market: Growing Popularity of Solar-Powered Automatic Irrigation Systems
Automatic irrigation systems require a continuous supply of electricity, and access to electricity grids is not always guaranteed in rural areas, especially in developing countries. Thus, solar-powered automatic irrigation systems are gaining popularity. These systems combine the efficiency of micro-irrigation with the reliability of a solar-powered water pump. Thus, the growing popularity of solar-powered automatic irrigation systems is expected to be one of the key trends in the automatic irrigation equipment market during the next five years.
“Apart from the growing popularity of solar-powered automatic irrigation systems, other factors such as the increasing online presence of vendors, and the introduction of smart assistants in controllers and flow meters will have a significant impact on the growth of the automatic irrigation equipment market value during the forecast period,” says a senior analyst at Technavio.
Global Automatic irrigation equipment Market: Segmentation Analysis
This market research report segments the global automatic irrigation equipment market worth by product controllers, sensors, valves, injectors, and flow meters), end-user (agriculture, commercial, and residential) and geographic regions (North America, Europe, APAC, South America, and MEA).
The North America region led the automatic irrigation equipment market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the automatic irrigation equipment market share in North America can be attributed to factors such as government initiatives to support sustainable agriculture practices and increasing consumer awareness concerning adopting water-efficient lawn maintenance systems.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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