Irrigation Controllers Market Trends

Growth Drivers

Adverse Environmental Impacts Of Food Production And Agriculture

According to the UN FAO, food accounts for over a quarter (26%) of global greenhouse gas emissions, Half of the world’s habitable (ice- and desert-free) land is used for agriculture; 70% of global freshwater withdrawals are used for agriculture; 78% of global ocean and freshwater eutrophication (the pollution of waterways with nutrient-rich pollutants) is caused by agriculture. As per a study by the World Bank in 2017, the demand for food is expected to rise due to the increasing population. Hence, to meet the food requirements, the agricultural production will need to expand by 70% by 2050. This adverse impact of agriculture on the fresh water resources on the planet is leading to severe famines and arid droughts across the world and turning the lands barren. The Organization for Economic Co-operation and Development (OECD) recommended steps to help countries improve the sustainability of agriculture by developing cost-effective agricultural policies. The policies are expected to boost productivity and reduce environmental damage by incorporating proper irrigation solutions.

Increasing adoption of climate-smart agriculture solutions by the governments to help small-scale farmers in order to maintain and improve water management is anticipated to boost the market growth. In addition to that, various subsidies offered by governments and manufacturers amidst Covid-19 are some of the considerable factors that are estimated to promote the growth of the market. Additionally, this growth is backed by rising number of initiatives taken by governments of different regions to promote water conservation efforts from across the globe.

Technological Innovation And Smart-Tech To Boost Productivity

On the back of growing technological advancements and concerns towards developing solutions in order to maximize productivity, the global irrigation controllers market is estimated to witness noteworthy opportunities throughout the forecast period. The rising adoption of improved water use efficiency, coupled with the new generation of tech-savvy farmers looking for smart irrigation solutions in order to decrease water consumption are factors predicted to contribute towards the market growth. Further, the advancements in wireless technologies such as incorporating Wi-Fi or cloud-based systems in plant canopy and soil moisture sensors in order to receive real-time data on field conditions along with utilizing GPS for the movement tracking of central pivot or linear move machines are additional factors which are expected to drive the irrigation controllers market growth.

Challenges

High costs of Product to Restrict Market Growth

The potential factor that is estimated to affect the growth of the market in a negative manner is the high cost associated with deploying and installing irrigation controllers on the back drop of debt-ridden farmers as compared to the basic irrigation controllers.