Smart Irrigation: Has the Market Potential Dried Up?
The latest Alpha Brown survey brings some potentially discouraging news for companies developing and producing smart irrigation devices. Only around ten percent of farmers said that they use such products (bringing the market to $700 million/year in the U.S. alone) and just around seven percent of farmers not currently using them said they considered transitioning to smart irrigation "urgent."
Nevertheless, there is some reason for optimism in the field of smart irrigation. Though few described smart irrigation as "urgent," nearly 50% of respondents demonstrated interest when describing it as "preferred." In particular, there was a notably high level of interest among the larger farms, which could become the major market: their greater size demands bigger expenditures but also allows for quicker ROIs resulting from increased efficiency on a massive scale.
In the report, we investigated the current use and potential interest (and, of course, assessed a dollar value based on that). To do that, we looked at subjects including:
1. Current level of use among farmers.
2. Level of interest among farmers (how many are considering utilizing the technology by region, irrigation budget, farm size, etc.).
3. Perceived advantages and drawbacks of smart irrigation among farmers.
4. Market potential in terms of dollar value.
5. Leading smart irrigation systems.
For more information on the report, please click here: https://www.alphabrown.com/product-page/smart-irrigation-market-potential.