Fertigation Control System Market: An Array of Graphics and Analysis of Major Industry Segments
According the latest research from Future Market Insights (FMI),
the global sales of fertigation control systems reached ~ US$ 674 million in
2018, and are estimated to record a value Y-o-Y growth of 6.4% in 2019.
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’.
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.
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.
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 automated fertigation control systems accounted for ~70% of
the total sales. An embrace of R&D and innovations are forthcoming for
‘solar-powered’ automated fertigation control systems that will work in tandem
with growing global efforts to reduce the consumption of limited resources.
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616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
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