A recent market study published by Future Market Insights on the fertigation control system market includes global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters of the fertigation control system market, the growth prospects of the market are obtained with maximum precision.
Growing concerns over food security and sustainability of intensive farming practices are key factors supporting the adoption of fertigation control systems. According to a recent report by Future Market Insights (FMI), the market will cross US$ 247 Mn in 2021, rising at a CAGR of 6.7% year on year growth in 2021. Revenue generated in the automated fertigation control system segment will increase at 9.1% CAGR between 2021 and 2031, sealing its dominance in the overall market.
The report opines that the global fertigation control system market will continue to experience significant growth underpinned by the increased need to maximize food productivity with optimum resource utilization. Analysts also expect that the market will spectate massive investments in R&D, as manufacturers are placing their bets on new technologies to align with the emergence of precision agriculture techniques and the concept of ‘smart farming’.
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Key Points Covered in Fertigation Control System Market Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Fertigation Control System and How to Navigate
- Recommendation on Key Winning Strategies
As the war of innovation supremacy continues among the stakeholders, automated fertigation control systems are likely to witness relatively high sales as compared to the manual variants. Moreover, manufacturers are incorporating new web-based technology and IoT in their products that provide farmers with recommendations on plant, soil, and weather conditions to personalize irrigation programs.
FMI study forecasts that the global fertigation control market is set to grow at ~ 8% CAGR during the period, 2019-2029, driven by overarching trends such as organic farming, hydroponics, living walls, and controlled environment agriculture, in addition to world’s rising demand for food to sustain the ever-increasing population.
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Manufacturers Foresee Growth Opportunities in Latin America and MEA
“With ~ 46% share in 2018, Asia will continue to maintain its lead in the fertigation control system market, as the agriculture industry in several countries in the region accounts for large percentage of their GDP,” says the study. However, Middle East & Africa is anticipated to offer lucrative opportunities for the market players, in the view of greater adoption of newer technologies and agricultural equipment to improve their crop production and reduce the dependence on food imports.
While economic conditions and limited access to technological innovations in agriculture sector in Latin America appeared to be insurmountable obstacles, the governments in the region are taking initiatives to invest in advanced agriculture solutions and technologies. The report forecasts the sales of fertigation control systems in MEA will increase ~ 8% y-o-y in 2019, while rising demand from Latin America is likely to result in increased market share.
Market Gains Underpinned by Increasing Greenhouse Projects Worldwide
According to the report, the consumption of fertigation control system in greenhouses continue to account for major share of the manufacturer’s bottom lines.
High-tech innovations in huge climate-controlled environment for crop production and increasing greenhouse projects across the globe, to counteract the challenges in improving food productivity, will complement the rapid adoption of fertigation control systems. In 2018, fertigation control systems worth ~ US$ 247 million were sold for use in open fields (farms), while application in research bodies will increase ~ 6% y-o-y in 2019, according to the FMI’s indications.
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Manufacturers are focused on increasing the production of automated fertigation control systems, considering the increasing need to reduce manpower and time required in agricultural activities in line with a constant challenge boost by the lack of workforce worldwide. Furthermore, dual-channel automated fertigation control systems are likely to witness relatively high sales, owing to economical pricing and specific advantages over single- and multi-channel fertigation control systems.
The fertigation control system market includes a moderately consolidated competitive environment, where a majority of market players are focusing on strategic collaborations. Leading fertigation control system manufacturers are currently working on R&D efforts and new product launches to keep up with the rising product consumption in South Asia and East Asia.
- For instance, in 2018, Netafim introduced a digital irrigation solution, ‘NetBeat’, which provided farmers with real-time recommendations based on data related to plant, soil, and weather conditions to personalize their irrigation programs.
- Cravo announced the launch of a new computer system designed to control cooling and retractable greenhouse roofs in addition to conventional fertigation requirements.
- In June 2020, The University of Cordoba announced the launch of a new mobile app named Reutivar App to calculate and control fertilizer and water content in irrigation systems.
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