Share this article Share this article ResearchAndMarkets.com's offering. Global Precision Irrigation Market is growing at a CAGR of 14.8% during the forecast period. While the factors like economic and social benefits of saving water and initiatives by government organizations are boosting the market growth. However, the lack of technical expertise for precision irrigation technology is hampering market growth. Precision irrigation is defined as the application of a precise amount of water at the correct time and suitable locations in an agricultural field. It is a component of precision agriculture which also includes seeding, variable-rate nutrients, and pesticide application. Based on the type, the boom irrigation segment is likely to have a huge demand due to this system requires less water because it operates to supply the optimum amount of water for the crop. Labor is also reduced as irrigation can be done while doing other tasks. They work best with plug or cell trays, pot to pot spaced plants, or cutting in beds. The system has effectiveness and precision in watering thus reducing wastage.