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Micro Irrigation System Market Size Worth USD 949.61 Million by 2030 at 5.75% CAGR – Report by Market Research Future (MRFR)

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New York, US, Nov. 21, 2022 (GLOBE NEWSWIRE) — Micro Irrigation System Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Micro Irrigation System Market Information by Type, Crop Type, End-Use Industry, and Region – Forecast till 2030“, the market will reach USD 949.61 Million by 2030, at 5.75% CAGR.

Market Synopsis

Small-scale sprinkler systems called micro irrigation systems are used to irrigate individual plants and flower beds. This landscaping technique is more environmentally friendly since the smaller sprinkler heads use much less water and produce less spray than conventional techniques. Due to factors like the rapid expansion of greenhouse vegetable production, higher yield demand from constrained areas, and an increase in the use of artificial intelligence in the micro irrigation system market, the market for micro irrigation systems is anticipated to experience high growth during the forecast period. Furthermore, the growth of agricultural products and water issues are two important factors influencing the need for micro irrigation systems. One of the primary factors driving the market’s phenomenal growth is the expanding area covered by micro irrigation systems worldwide.

Micro-irrigation systems are simple to mechanize, compatible with both open- and closed-spaced crops, and have many other advantages promoting market expansion. The expansion of the micro irrigation system market is anticipated to be fueled partly by increased acceptability of this irrigation approach for landscape enhancements among commercial building owners, homeowners, and other stakeholders.

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Report Scope:

Report Attribute Details
Market Size in 2030 USD 949.61 Million
CAGR 5.75%
Base Year 2021
Forecast Period 2022-2030
Historical Data 2020
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type, Crop Type, End-Use Industry, And Region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Traders And Distributors Of Micro Irrigation System
increased call for the availability of freshwater resources

Market Competitive Landscape:

The lucrative contenders in the micro irrigation system market are:

  • Netafim Limited (Israel)
  • Chinadrip Irrigation Equipment Co., Ltd. (China)
  • Rivulis Irrigation Ltd (Israel)
  • The Toro Company (US)
  • Nelson Irrigation Corporation (US)
  • Rain Bird Corporation (US)
  • Microjet Irrigation Systems (South Africa)
  • T-L Irrigation (US)
  • Hunter Industries (US)
  • Metro Irrigation (India)
  • Lindsay Corporation (US)
  • EPC Industries (India)
  • Irritec (US)

Market U.S.P. Covered:

Market Drivers:

Micro irrigation systems are excellent for reducing water waste, reducing soil erosion, and boosting crop yields without using excessive amounts of water. Additionally, technological developments in data analytics and water flow will encourage adoption among small-scale farmers and giant business farming operations. This business is expanding due to the pressure to produce more high-quality crops with less water. Positive market growth is being impacted by the introduction of several programs to inform farmers about the benefits of adopting micro irrigation methods and early support provided by the government in some nations to install these systems on farms. This market is expected to be further driven by the systems’ high water application efficiency and their success in reducing nutrient loss.

Farmers have been looking for creative ways to grow additional crops with the same amount of water as it becomes a more precious resource. High demand for micro-irrigation systems, including sprinklers and drippers, is anticipated to accelerate market expansion. The availability of changeable soil moisture levels, the removal of human prediction mistakes, and effective timing management are some elements driving up the need for micro irrigation systems. It is anticipated that these solutions will boost profit generation per yield. Worldwide, micro irrigation systems are frequently utilized for various crops with various needs, including field crops, vineyard plants, and plantation crops. Small farmers, commercial farmers, large growers, and government farmers all employ micro irrigation systems because they help to reduce water waste, stop soil erosion, and increase crop yields without using too much water.

Browse In-depth Market Research Report (110 Pages) on Micro Irrigation System: https://www.marketresearchfuture.com/reports/micro-irrigation-systems-market-1949

Market Restraints:

The micro irrigation system market will experience an increase in growth drivers during the forecast period, followed by restraints that will thwart the market’s anticipated expansion rate. Population growth has resulted in problems like the depletion of natural resources like water.

COVID 19 Analysis

The current global COVID-19 outbreak, followed by lockdowns in various economies, has a significant impact on the farm sector, particularly from the standpoint of labor. Due to the suspension of trade among economies, the crisis is predicted to last for the foreseeable future. There is little doubt that the epidemic will also negatively impact the market, but it will be impossible to predict how bad until it is over. The availability of automated systems, particularly in the developed markets of North America and Europe, along with the lower labor requirements associated with some micro-irrigation approaches, are anticipated to continue to be the key drivers of the likely market stability.

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Market Segmentation

By type, the market includes drip irrigation and sprinkler irrigation. The market includes an open field and a closed system by the end-use industry. By crop type, the market includes plantation crops, landscape, field crops, and others.

Regional Insights

Due to growing urbanization and the creation of well-maintained drainage systems, which promote market demand in this region, the Middle East and Africa hold the highest market portion of the global market. Being the fastest-emerging economy, the Asia-Pacific region holds the second-largest customer base in the micro irrigation system market due to the rising demand for fresh. This region includes densely populated nations like China and India, which boosts market demand. However, micro irrigation’s high beginning expenses have continued to be a barrier for domestic market players. The cost of lateral irrigation in China has decreased significantly due to the nation’s adoption of thin-walled drip lines. Due to the presence of nations like the US, Canada, and Mexico, along with a sizable number of important key players driving market demand in this region, North America holds the third-largest market share in the world’s market.

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Discover more research Reports on Agriculture Industry, by Market Research Future:

Drip Irrigation Market Research Report: Information by Emitter Type (Inline Emitters and Online Emitters), Application Technique (Surface and Sub-Surface), End Use (Field Crops, Orchard Crops, Plantation Crops, Landscape and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2028

Sprinkler Irrigation Systems Market Research Report: Information by Type (Center Pivot, Lateral Move, Solid Set and others), Crop Type (Cereals, Oilseeds and Pulses, Fruits and Vegetables and others), Mobility (Stationary and Towable) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2027

Automated Irrigation Market Research Report: Information by Components (Controllers, Sensors, Valves, Sprinklers, Others), Type (Time-based, Volume-based, Real-time-based, Computer-based), Application (Water Resource Management, Soil Management, Ground Water Management), End Use (Agricultural and Non-agricultural), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2028

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Forum Systems Releases GenAI Productivity-Risk Framework and two Fine-tuned Models for Enterprise Customers

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Announcing a framework to balance productivity and risk for enterprise deployments of GenAI models and releasing two fine-tuned models—Mistral QS-Sentry and Llama 3 QS-Sentry—with optimized productivity-risk profiles
Gartner Data & Analytics Summit 2024, LONDON, May 13, 2024 /PRNewswire/ — Forum Systems, a leader in LLM and API technologies, today announced the public release of two language models fine-tuned to optimize their productivity-risk profile from the Gartner® Data & Analytics Summit 2024. The research is discussed at length in two recent articles, Framework for LLM Selection by Balancing Model Risk with Workforce Productivity and Improving Productivity-Risk Profile through LLM Fine-tuning. This groundbreaking work presents a framework for balancing productivity and risk in GenAI deployments, an urgent question among business leaders today.

“LLMs security has its tradeoffs. More restrictive models will be safer but may hamper productivity. If enterprises aren’t measuring the productivity-risk balance of their models, they are in the dark about whether they’ve achieved an optimal tradeoff,” remarked Mamoon Yunus, CEO of Forum Systems. He continued, “classic machine learning metrics like precision and recall can serve as proxies for productivity and risk. Fine-tuning on extensive manual multi-vote labeled data, our LLMs show superior performance compared to base models.” 
The fine-tuned models—Mistral QS-Sentry and Llama 3 QS-Sentry—are based on Mistral-7B-Instruct-v0.2 and Meta-Llama-3-8B-Instruct.
In the first article, Forum Systems developed a framework for balancing risk and productivity and assessed the productivity-risk profile of Mistral and Llama 3 before fine-tuning. It found that, when asked to classify prompts as either safe or unsafe, Mistral was more precise and thus aligned with higher productivity, while Llama 3 was more restrictive and thus aligned with lower risk.
The second article analyzed the models after they were fine-tuned on a hand-curated dataset of about 20,000 prompts. The study showed that the productivity-risk profile of both models can see meaningful improvements after fine-tuning. Forum Systems has released both fine-tuned models on Hugging Face to contribute to the broader community of researchers and those working in AI governance and AI alignment, believing its framework for analyzing the trade-offs between productivity will also prove valuable to business leaders deploying safe and effective GenAI offerings.
As Gartner analyst Arun Chandrasekaran recently stated, “Generative AI (GenAI) has the potential to transform businesses across industries. Most business and technology leaders believe that the benefits of GenAI far outweigh its risks.” He recommends, “Put responsible AI at the heart of your generative efforts. Promote harmonious interaction among humans and machines with design thinking and by incorporating human feedback into GenAI applications.” Forum Systems agrees with Chandrasekaran’s analysis and recommendation. Its work in optimizing productivity-risk profiles of small models demonstrates that enterprise-class responsible AI deployments are within reach through fine-tuning.
Source: Gartner, 10 Best Practices for Scaling Generative AI Across the Enterprise, Arun Chandrasekaran, Leinar Ramos, Alberto Pietrobon, 10 January 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
About the Gartner Data & Analytics Summit 2024 Gartner analysts will provide additional analysis on data and analytics trends at the Gartner Data & Analytics Summits, taking place March 11-13 in Orlando, FL., March 26-27 in São Paulo, April 24-25 in Mumbai, May 13-15 in London May 21-23 in Tokyo, and July 29-30 in Sydney. Follow news and updates from the conferences on X using #GartnerDA.
About Forum SystemsForum Systems is leading the Enterprise GenAI revolution. Forum’s patent-pending QuantumSim™, together with Forum Sentry, mitigate the unpredictable nature of LLMs through integration with corporate APIs, ensuring LLM output is truthful and accurate. QuantumSim™ is secure by design and ships with industry-leading guardrails, moderation, data obfuscation, and observability for LLM-enabled offerings. Used by some of the largest global companies for building intelligent business workflows, Forum’s suite of products provides unique solutions that allow enterprises to reinvent themselves with GenAI.
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Artificial Intelligence

LG CEO EMBARKS ON STRATEGIC U.S. VISIT TO ENHANCE AI INITIATIVES

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AI as Key Driver for Future Growth and Customer Experience Innovation
SEOUL, South Korea, May 13, 2024 /PRNewswire/ — LG Electronics’ (LG) CEO, William Cho, has embarked on a strategic business trip to the tech-rich western United States, a hotspot for global tech titans and dynamic AI dialogues. Throughout his week-long visit, Cho will focus on key tasks such as attracting top-tier AI talent, communicating the company’s vision and strategy to global investors and attending the influential MS CEO Summit. These endeavors are integral to LG’s comprehensive strategy to accelerate the incorporation of AI into all its business sectors.

AI as a Crucial Catalyst for Future Growth and Customer Experience Innovation
Throughout his trip, Cho aims to secure top-notch expertise in the AI field, an area that has recently surfaced as a critical turning point in the industry. He plans to leverage this as a springboard for transforming LG’s future business portfolio and revolutionizing the customer experience.
Annually, LG introduces approximately 100 million products to the market. Given a product lifespan of seven years, it’s estimated that nearly 700 million LG products are currently in use worldwide. Furthermore, the usage data gained from customers interacting with these devices exceeds 700 billion hours. Cho anticipates this enormous pool of usage data will help accelerate LG’s AI progression and the 700 million products will function not just as customer touchpoints but also as service platforms.
“AI, Cloud, and Big Data are new opportunities for LG”
Cho commenced his itinerary by hosting a tech conference in North America on the 11th in Cupertino, California. This program is aimed at drawing in top-notch talent from abroad. Key participants included LG’s AI Lab management team and executives from LG’s various businesses including Park Hyoung-sei, president of the LG Home Entertainment Company; Eun Seok-hyun, president of LG Vehicle component Solutions Company; Dr. Kim Byoung-hoon, CTO and executive vice president; Kim Weon-bum, CHO and executive vice president; and Dr. Sokwoo Rhee, head of LG’s North America Innovation Center.
LG extended invitations to about 50 AI experts currently working in large tech firms and startups in the Bay Area, as well as doctoral researchers from renowned universities in North America. The conference focused on discussions about the company’s vision, R&D strategy and the future trajectory of AI technology development.
Cho expressed, “In the face of transformative shifts such as electrification, servitization and digitalization sweeping across diverse industries, the application of AI, cloud and big data is paving the way for novel approaches and opportunities.” He further elaborated, “These emerging opportunities represent a new potential frontier for us, given our extensive accumulation of core technologies and expertise.”
He also provided detailed insights into LG’s AI vision of ‘Affectionate Intelligence’, which was unveiled earlier this year at CES 2024. Cho emphasized that “AI should fundamentally be used to care for and empathize with customers, provide tangible benefits and improve the customer experience,” a sentiment that deeply resonated with the attendees.
Following this, he announced, “LG is transcending its status from a global leader in the home appliance and consumer electronics to transform into a ‘Smart Life Solution Company’ that expands and interconnects various customer spaces and experiences.” He added, “I envision us collaborating to reinvent dreams as we undertake bold ventures, fueled by optimism for a brighter future and a better life.”
At the event, CTO Kim Byung-hoon spoke on the subjects of ‘Paradigm Shift’ and ‘LG’s Innovation Roadmap for the Future’, and vice president Han Eun-jung of AI Lab discussed ‘Daily Life with AI’. Professors from the University of Southern California and New York University were also invited to present on generative AI and robotics technology. A panel discussion on the theme of ‘Evolution of AI’ also attracted significant interest from the attendees.
Transition from a Leading Home Appliance Brand to a Smart Life Solution Company
Cho’s second agenda includes hosting a non-deal roadshow (NDR) on May 13, where he will interact with key executives from globally influential investment firms based in San Francisco. His strategy aims to depict LG’s transformation to a comprehensive ‘Smart Life Solution Company’. This transition is anchored in broadening the company’s business portfolio, which includes accelerating B2B business in areas such as EV components, HVAC, built-in appliances’ and signage solutions. The expansion of platform-based services like webOS, and venturing into new areas for LG such as robotics and EV charging, are also integral to this transformation plan.
In particular, Cho plans to highlight how LG is proactively engaging in the development and application of AI in its business operations. He aims to stress that creating tangible customer touchpoints is more crucial than merely having superior AI to provide authentic value and experience to customers.
In this regard, LG’s customer touchpoints, secured through its 700 million devices spanning diverse spaces from homes to vehicles and commercial areas, present a significant advantage that is unmatched by other global companies. LG’s goal is to realize Affectionate Intelligence in our daily lives by leveraging extensive real-time life data and expertise orchestrating devices and services to accelerate AI development using its devices as platforms.
Securing Global AI Allies and Discovering New Business Opportunities at the MS CEO Summit
Cho is also scheduled to attend the MS CEO Summit, a private, invitation-only event taking place in Seattle, where Microsoft’s headquarters is located, for three days starting from May 14. This summit serves as a platform for CEOs and representatives of globally leading companies to discuss and exchange ideas on various topics, including the economic and business environment, as well as industry trends.
LG is diligently working to establish world-class AI capabilities, guided by a ‘3B strategy’ that focuses on Building internal capabilities or Borrowing and Buying external resources. Given LG’s extensive global customer touchpoints and its possession of a vast amount of multi-faceted data and customer insights, the opportunities for future collaborations with globally influential tech companies are expected to become increasingly diverse.
About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 84 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
https://www.kiwidesign.com/
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