Meticulous Research®—a leading global market research firm—has published a new report titled, "Precision Irrigation Market by Offering (Solutions, Services), Irrigation Type (Sprinklers Irrigation, Drip Irrigation, Surface Irrigation), End User (Agriculture, Turf & Sport Fields, Residential), and Geography - Global Forecast to 2030."

The Precision Irrigation Market is expected to reach $4.2 billion by 2030, growing at a CAGR of 11.7% throughout the forecast period. The market's expansion is driven by the increasing need for water efficiency and conservation, the rising adoption of precision irrigation to boost crop yield and quality, and supportive government policies and subsidies for implementing precision irrigation systems. Nevertheless, high initial costs and maintenance requirements for hardware, software, and infrastructure pose challenges to market growth. Additionally, growing investments in sensor-based systems and automated irrigation controllers are likely to present new growth opportunities. However, connectivity issues in rural areas remain a significant challenge. The latest trends in the market include the rising use of machine learning and artificial intelligence.

The Precision Irrigation Market Report segments the market by offering (solutions [software and hardware], services), irrigation type (surface irrigation, sprinklers irrigation, drip irrigation, center pivot irrigation, and other irrigation), end user (agriculture [field crops, orchards and vineyards, and greenhouse], residential, turf & sport fields, golf courses, parks, and landscapes, and other end users), and geography. The report also analyzes industry competitors and provides a comprehensive examination of market dynamics at regional and country levels.

Precision Irrigation Market Segmentation:

• By Offering: The market is divided into solutions and services. The solutions segment is projected to hold a larger share in 2024 due to increased adoption of precision irrigation solutions to improve crop yield and quality. This segment's growth is driven by rising environmental awareness among farmers, large-scale farming operations, and the need for water, energy, and labor cost savings. This segment is also expected to register the highest CAGR during the forecast period.

• By Irrigation Type: The market includes surface irrigation, sprinkler irrigation, drip irrigation, center pivot irrigation, and other irrigation methods. The sprinkler irrigation segment is anticipated to dominate in 2024 due to its affordability, high irrigation efficiency, and effective crop protection against high temperatures. This segment is also expected to experience the highest CAGR during the forecast period.

• By End User: The market is segmented into agriculture, residential, turf & sport fields, golf courses, parks, and landscapes. The agriculture segment is projected to account for the largest share in 2024, driven by the need for improved resource efficiency, environmental impact reduction, and precision in water application. This segment is also expected to see the highest CAGR during the forecast period.

• By Geography: The market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to hold the largest market share in 2024, attributed to the region's need to maximize crop yields, government initiatives promoting sustainable agriculture and water conservation, advancements in agricultural technology, and varied climatic conditions that support precision irrigation. This region is also projected to register the highest CAGR during the forecast period.

Key Players in the Precision Irrigation Market:

Key companies operating in the Precision Irrigation Market include:

• Netafim Limited (Israel) (A Subsidiary of Orbia Advance Corporation, S.A.B. de C.V.)
• Deere & Company (U.S.)
• Jain Irrigation Systems Ltd. (India)
• Lindsay Corporation (U.S.)
• Nelson Irrigation Corporation (U.S.)
• Saturas Ltd. (Israel)
• The Toro Company (U.S.)
• Valmont Industries Inc. (U.S.)
• T-L Irrigation Co. (U.S.)
• Viridix Ltd. (Israel)
• Mahindra EPC Irrigation Limited (India)
• Chinadrip Irrigation Equipment Co. Ltd. (China)
• Libelium Comunicaciones Distribuidas S.L. (Spain)
• CropX Technologies Ltd. (Australia)
• ONDO (Balkans)

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Key Questions Answered in the Report:

• Which segments of the Precision Irrigation Market are projected for high growth based on offering, irrigation type, end user, and geography?
• What has been the historical market size for precision irrigation?
• What are the market forecasts and estimates for the period 2024–2030?
• What are the key drivers, restraints, opportunities, challenges, and trends affecting the precision irrigation market?
• Who are the major players, and what are their market shares in the precision irrigation market?
• How does the competitive landscape of the precision irrigation market look?
• What recent developments are influencing the precision irrigation market?
• What strategies are being employed by leading market players?
• What are the significant geographic trends, and which countries are experiencing high growth?
• Who are the emerging local players in the precision irrigation market, and how do they compete with established companies?

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