DUBLIN--(BUSINESS WIRE)--The "Smart Greenhouse Market By Type, Component, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the global smart greenhouse market size was valued at $1.37 billion in 2019 and is projected to reach $3.23 billion by 2027, growing at a CAGR of 11.4% from 2020 to 2027.
Smart greenhouse is a farming technique, which helpss user to monitor and control the growth condition of the plant and to optimize the growing process of the plants. In addition, the major goal of smart greenhouse is to implement a system which will allow user to remotely monitor all conditions required for the growth of the crops. Smart greenhouse provides different benefits such as maintaining a micro-climate environment for the crops, optimizing the yielding process, and minimizing manual intervention. In addition, it provides farmers with data on external environment and type of soil, which reduces the risk of pests and avoids disease outbreak. Furthermore, an increase in need for organic food across the globe has replaced traditional farming with adoption of smart greenhouse.
Increase in popularity of organic food across the globe and an increase adoption of IoT and artificial intelligence by farmers and agriculturists drive the growth of the market. In addition, ease of crop monitoring and harvesting fuel the growth of the market. However, high investment costs owing to deployment of expensive systems in smart greenhouses hamper the growth of the market. Furthermore, rise in adoption of vertical farming technology and an increase in public-private partnership in the agriculture sector is expected to provide lucrative opportunity for the market growth.
The smart greenhouse market is segmented into type, component, end user, and region. By type, it is bifurcated into hydroponic and non-hydroponic. By component, it is divided into HVAC Systems, LED grow lights, irrigation system, valves & pumps, sensor & control system, and others.
Key Benefits For Stakeholders:
- The study provides an in-depth analysis of the global smart greenhouse market forecast along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the global smart greenhouse market size is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market for the period 2020-2027 is provided to determine the market potential.
Key Findings of the Study:
- By end user, the research & educational institutes segment accounted for the highest smart greenhouse market share in 2019.
- Region wise, Europe generated the highest revenue in 2019.
- Depending on type, the non-hydroponic segment is anticipated to exhibit substantial growth during the forecast period.
Market Dynamics
Drivers
- Increase in Popularity of Organic Food
- Rise in Adoption of IoT and Artificial Intelligence by Farmers and Agriculturists
- Ease of Crop Monitoring and Harvesting
Restraint
- High Investment Costs Owing to Deployment of Expensive SysteMS in Smart Greenhouses
Opportunities
- Rise in Adoption of Vertical Farming
- Increase in Public-Private Partnership in the Agriculture Sector
Key Market Players:
- Argus Controls
- Certhon
- Cultivar
- Greentech Agro LLC
- Heliospectra AB
- Hort Americas
- Lumigrow, Inc.
- Netafim
- Rough Brothers
- Sensaphone
For more information about this report visit https://www.researchandmarkets.com/r/oml879
