Growing adoption of indoor farming practices is expected to drive global smart greenhouse market in the forecast period, 2023-2027.
According to TechSci Research report, “Smart Greenhouse Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global smart greenhouse market is anticipated to grow at an impressive rate in the forecast period, 2023-2027. This can be ascribed to the decreasing arable land worldwide which can be used to grow crops. The increasing incidences of soil erosion has contributed to desertification and reducing arable land. According to United Nations Convention to Combat Desertification, every year an estimated around 24 billion tonnes of fertile soil is lost due to erosion which is equivalent to about 3.4 tonnes lost every year for every person on the planet. The arable land is decreasing however the demand for food is increasing. The decreasing fertile land has made it difficult to address the needs of growing population, leading to a switch to alternative farming techniques using which crops can be grown in minimal land area producing good quality produce. This in turn is expected to support the growth of global smart greenhouse market in the coming years.
However, high cost of setting up a smart greenhouse is the main factor which will hamper the global smart greenhouse market in the forecast period. Additionally, the smart greenhouses are equipped with a lot of advanced equipment and systems that require regular maintenance and service. This also adds up to the cost for the cultivator, thereby slowing down the market growth. Additionally, the lack of modernization and mechanization across agricultural sector in the developing countries is further expected to restrict the market growth during the forecast period.
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The global smart greenhouse market can be segmented by type, by technology, by component, by crops, by end user and by region.
Based on type, the global smart greenhouse market can be divided into hydroponic and non-hydroponic. The hydroponic type segment is expected to dominate the market during the forecast period. This can be ascribed to the capabilities of a hydroponic smart greenhouse to produce nutritious food items within a compact space. The demand for non-hydroponic segment is also expected to grow in the coming years since it is ecofriendly in nature.
Based on Region, the global smart greenhouse market can be further categorized into North America, Asia Pacific, Europe, Middle East & Africa. North America dominated the market on account of widespread adoption and use of smart greenhouses in the region, especially in the United States. Additionally, presence of key market players in the region is expected to further support the market growth through 2027 in the region.
Major companies operating in global smart greenhouse market are:
- LumiGrow, Inc.
- Rough Brothers, Inc.
- Nexus Corporation
- Netafim Limited
- Ceres Greenhouse Solutions
- GreenTech Agro LLC
- Hort Americas, LLC
- TerraSphere Systems LLC
- Heliospectra AB
- Cultivar Ltd.
These companies are adopting new technologies and automating their greenhouses to stay competitive and have an edge over other players in the market. The companies are also entering into collaborations. For instance, in May 2021, Heliospectra AB entered into a partnership with Harahara Inc. to roll out its LED lightning and light control solutions for controlled environment agriculture and PEALs in Japan.
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“Asia Pacific region is expected to register the highest growth in the global smart greenhouse market on account of the growing demand for food by the ever-increasing population in the region especially in the two of the largest populated countries China and India. This has in turn led to widespread adoption of smart greenhouses for producing fruits & vegetables throughout the year. Additionally, increasing automation and mechanization of farms especially in Japan and Australia is further expected to create lucrative opportunities for the market growth in the region during the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Smart Greenhouse Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Hydroponic, Non-Hydroponic), By Technology ( HVAC, LED Grow Light, Irrigation System, Material Handling, Valves, Control System, Sensor & Camera), By Component ( Hardware, Software, Services), By Crops (Vegetables, Floriculture, Tree Seedlings, Others), By End User (Commercial Growers, Retail Gardens, Academic & Research Institutions, Others) and By Region”, has evaluated the future growth potential of global smart greenhouse market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global smart greenhouse market.
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