Deficit irrigation presents significant potential for water savings, making it increasingly popular worldwide as a method to reduce freshwater consumption over time. The low water productivity of strawberries is often attributed to excessive water use and the limited ability of cultivars to optimize fruit set and yield in hydroponic systems. This study aimed to evaluate three management strategies—cultivar selection, irrigation frequency, and potassium silicate application frequency—on the growth, water conservation, and production efficiency of hydroponically grown strawberries. The experiment followed a split-plot design, with 'Albion' and 'Chandler' cultivars as the main plot treatments, and a factorial arrangement of irrigation frequency (once/day vs. twice/day) and potassium silicate (AgSil16H) application frequency (6, 9, 12, 15 weeks) randomly assigned to the subplots. Results indicated that foliar application of potassium silicate enhanced plant vigor and contributed to water conservation in hydroponically grown strawberries compared to the control. Notably, a 12-week potassium silicate application boosted photosynthetic rates and improved water conservation, thereby enhancing plant productivity and water use efficiency. For 'Chandler' strawberries, potassium silicate treatment led to a 23% increase in net assimilation rate, a 29% rise in stomatal conductance, and a 33% reduction in transpiration loss. Additionally, electrolyte leakage decreased by 25%, while maintaining steady intercellular CO2 concentrations. Strawberry plants treated with potassium silicate and irrigated once daily reduced water usage by 35% compared to untreated plants. Furthermore, flowering occurred 4 days earlier in treated plants, while fruit set increased by 16% and flower drop decreased by 13% compared to controls. Among all treatments, the 'Chandler' cultivar, irrigated once per day and treated with potassium silicate for 12 weeks, showed superior growth and significant water savings over the control group. Potassium silicate treatment for 12 weeks also resulted in a 20% higher marketable fruit yield compared to the control. Therefore, potassium silicate (AgSil16H) demonstrated its potential as a promising fertilizer under deficit irrigation conditions, effectively conserving water and improving productivity in hydroponically grown strawberries.