Uptake in Developing Countries Will Boost the Micro Irrigation System Market Through 2019: Technavio
By Business Wire News
By Business Wire News
Technavio, a tech-focused research firm, has published a new report on the global micro irrigation systems market, which is expected to grow at a CAGR of almost 18% from 2015-2019.
According to the latest report by Technavio, rising global water scarcity is expected to boost the micro irrigation systems market. Agriculture accounts for a significant portion of the water used in developing countries, but a significant portion of this is wasted because of inefficient and ineffective irrigation methods.
“The agriculture sector in developing countries like India and China uses 82% of total available freshwater resources. However, efficient water management methods like drip irrigation are mainly concentrated in large commercial farms in these countries. Therefore, vendors are focusing on tapping the hidden potential of micro irrigation systems in these areas,” says Faisal Ghaus, Vice President of Technavio.
The new market research report also emphasizes growing demand from emerging countries, which are witnessing a high level of mechanization in the agriculture sector. The penetration of agricultural machineries in BRIC countries and Africa has increased considerably, driven by the growing interest among customers in increasing productivity.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- Power Lawn and Garden Equipment Market in the US 2015-2019
- Landscaping Services Market in the US 2014-2018
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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