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Smart Greenhouse Market (Type - Hydroponic, and Non-hydroponic; Component - HVAC Systems, LED Grow Lights, Irrigation System, Valves & Pumps, Sensor & Control System, and Others; End User - Commercial Growers, Research & Educational Institutes, Retail Gardens, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2020

  • Rep Id : ICT1423

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the smart greenhouse market provides an in-depth analysis of segments and sub-segments in the global as well as regional smart greenhouse market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart greenhouse market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global smart greenhouse market. According to the report, the global smart greenhouse market is projected to grow at a CAGR of 12.1% over the forecast period of 2020-2026.

 

Market Insight

Greenhouse, an urban farming method, delivers farmers with a preference to provide optimum cultivation conditions by proposing a controlled environment according to the crop’s requirements. The smart greenhouse is a self-regulating and self-monitoring, micro-climatically controlled, for example, temperature, humidity, luminosity, soil moisture environment for ideal plant growth. Even slight differences in these conditions generate automated actions that estimate change and take corrective action and therefore, maintaining ideal conditions for plant growth.

 

The increased reliability in the smart greenhouse along with the increasing energy demand from the emerging economies is acting as drivers for the growth of the smart greenhouse market. However, a smart greenhouse requires a high investment, has a complex process as well as involves high risk which is detaining the market from growing at a higher pace. With the progression of technological advancements comes the usage of artificial intelligence devices, control devices, and sensors that permits automation in greenhouse agriculture. The high demand for food due to the ever-growing population, trend of indoor farming, government initiatives and incentives involving to smart greenhouse lighting technology contribute substantially towards the development of the smart greenhouse market across the globe. Conversely, the integration of technologies and the requirement of high initial investment are considered a few of the key factors projected to restrict the growth of the global smart greenhouse in the near future. The on-going health crisis around COVID-19 has affected all walks of life. Protecting the lives of people suffering from the disease as well as frontline health responders have been the priority of nations. Governments have swung into actions since the Coronavirus attack created an unprecedented situation. To sustain the demand for agricultural commodities, investments in key logistics must be enhanced. Moreover, e-commerce and delivery companies and start-ups need to be encouraged with suitable policies and incentives. The small and medium enterprises, running with raw materials from the agriculture and allied sector or otherwise, also need special attention so that the rural economy doesn’t collapse.

 

Among the geographies, North America region is expected to hold the largest share in the global smart greenhouse market as countries such as the U.S. and Canada are the front-runners of the adoption of new farming techniques such as precision agriculture, vertical farming, and indoor farming, among others. Further, factors such as growing urbanization and food demand have accelerated the growth of the smart greenhouse market in the North American region. Moreover, the Asia Pacific region is expected to witness high growth during the forecast period owing to the growing government support and rising awareness among cultivators. Countries such as China and Japan are projected to witness considerable growth in the upcoming years owing to the presence of a large number of indoor farms.

 

Segment Covered

The report on the global smart greenhouse market covers segments such as type, component, and end user. On the basis of type, the sub-markets include hydroponic, and non-hydroponic. On the basis of component, the sub-markets include HVAC systems, LED grow lights, irrigation system, valves & pumps, sensor & control system, and others. On the basis of end user, the sub-markets include commercial growers, research & educational institutes, retail gardens, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Greentech Agro LLC, Heliospectra AB, Argus Controls, Certhon Group, Cultivar SA, Hort Americas LLC, Sensaphone, LumiGrow, Inc., Netafim Irrigation Inc., and Rough Brothers.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart greenhouse market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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