The increasing demand for innovative technology to increase the crop yield in agriculture has led the manufacture to focus more on conservation technique which will be considered as the key factor for the growth in the global precision irrigation market. Apart from that, the precision irrigation market represent very few market, but the growing need of conservation of water and spreading precise amount of water at appropriate area has led to increase its adoption positively. According to Trends Market Research, the global precision irrigation will register healthy growth during the forecast period, 2021-2028.
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Potential for conservation of water will boost Precision Irrigation market
The growth of the precision irrigation market is expected to be fuelled by several micro-economic and macro-economic factor. Increasing awareness about the conservation of water in the region facing a scarcity of water, growing environmental awareness, regulatory restriction on water usage and government incentives are expected to increase the adoption of precision irrigation market. The major focus of the factor is to analyses the factor which is responsible for the growth of the market. Also, it is observed that the growing scarcity of water and its environmental impact will raise the adoption of the innovative technology and will push the global precision irrigation market. Also the report suggest that the global precision irrigation market will register healthy growth in the coming years.
In the foreseeable future, the technology is not economical at the current water ratio to grain price and the rate of infiltration into the soil and water storage in soil vary dimensionally is another drawback which forbid the growth of global precision irrigation market. The technology is not economical viable in most of the region and this is another key challenging factor for the market growth.
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The market is segmented on the basis of product type, their usage in the region and the channel of distribution. Compare to other market region North America, mainly Canada, Latin America, and Europe holds the largest share in precision irrigation market owing to the ever increased market in the region. Apart from that, In Europe U.K. was the first in rapidly adopting the technology. The develop region will continue to remain dominate over the forecast period. Keeping in mind about the usage and increasing adoption of the technology to overcome the problem of scarcity of water in irrigation field will likely to rev up the demand in the global market. Also the robust demand of precision irrigation market will maintain the demand of the innovation which will help to ease the scarcity of water in irrigation.
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Companies such as CropMetrics, Valmont Industries, Hunter Industries, Trimble Inc., Hortau and other are likely to remain active in the global market for precision irrigation market. The ongoing study also recognize Precision Irrigation Services (Aust) Pty Ltd, Netafim, Aquaspy as the major player in the global precision irrigation market.