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(MoneyNewsWire.Net, May 25, 2018 ) The irrigation controllers market is estimated to be valued at USD 529.2 Million in 2017 and is projected to reach USD 1,186.6 Million by 2022, at a CAGR of 17.53% from 2017. The market is driven by the increasing need for water conversation and growing use of modern farming practices. Furthermore, factors such as rapid growth in the lawn and garden equipment market are expected to increase the demand for irrigation controllers. However, the high initial investment cost and declining farm incomes are expected to restrict the market growth. Additionally, design challenges are resulting in low demand from labor-intensive economies and are expected to pose a challenge to the global market.
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The irrigation controllers market, based on type, has been segmented into weather-based and sensor-based. The sensor-based irrigation controllers segment is expected to grow at the highest CAGR during the forecast period. Sensors help in obtaining real-time soil moisture level and determining the irrigation requirements.
The market, based on product, has been segmented into smart controllers, tap timers, and basic controllers. The multi-functionality of smart irrigation controllers and ability to generate weather and farm reports are expected to increase their demand.
The irrigation controllers market, by application, has been segmented into agriculture and non-agriculture. The non-agriculture segment covered the largest market share as irrigation controllers are most widely used in sports grounds, golf courses, and residential lawns & gardens. The growing trend of controlled environment agriculture is expected to increase the demand for irrigation controllers in the agriculture segment.
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Asia Pacific is projected to be the fastest-growing irrigation controllers market over the next five years. The major drivers for the growth of the Asia Pacific market include the climatic conditions, strong government support, increased productivity, and increased need for reducing wastage of water. The key countries considered under this region are China, Japan, Australia & New Zealand, India, and the Rest of Asia Pacific which includes Thailand, Vietnam, Indonesia, Malaysia, the Philippines, and South Korea.
The high cost of installation of irrigation controllers and its peripherals and globally declining farm income are expected to restrict the market growth in the near future. Furthermore, the challenges regarding design and operations are also expected to hamper the market growth.
The global market for irrigation controllers is dominated by large players such as Valmont Industries (US), Lindsay Corporation (US), Toro (US), Hunter Industries (US), and Rain Bird (US). HydroPoint Data Systems (US), Netafim (Israel), Calsense (US), Glacon (Israel), Rachio (US), Weathermatic (US), Green IQ (Israel), and Nelson Irrigation (US) are a few other key market players that also have a significant share in the irrigation controllers market.
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