Global Smart Greenhouse Market

The concept of a greenhouse that cultivates crops deprived of human intervention is known as a smart greenhouse. Crops in a smart greenhouse are growing up without variation of climate or any human interference through any means for a certain period. The smart greenhouse utilizes different sensors and microprocessors to operate functions such as controlling irrigation systems and temperature. In the smart greenhouse, any type of fruit, plant, and vegetables can be cultivated at any time of year. Growing demand for food with the increasing global population along with the increasing number of government initiatives to encourage the adoption of smart agricultural practices are considered to be the key driving forces of the market growth. The growing population is significantly increasing the per capita food consumption levels hence increasing the demand for food production. As per the FOA organization, demand for cereals is expected to reach 3 billion tonnes in 2050 as compared to 2.1 billion tonnes in 2009 due to the rising population. Similarly, the Per capita food consumption is expected to increase from 2700 in the year 2005 to 3100 kilocalories by 2050. Furthermore, the emerging trend of rooftop farming in urban areas is likely to create significant growth opportunities in the market over the forecast period. However, the integration of technologies and the requirement of high initial investment impedes the growth of the market over the forecast period of 2020-2026.

Global Smart Greenhouse Market is valued approximately at USD 1.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.20% over the forecast period 2020-2026 is estimated to reach USD 2.4 billion by 2026.

The regional analysis of the global Smart Greenhouse market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to a large number of smart greenhouse projects being carried out in the region. Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2026. Factors such as increasing population, high pressure to improve agricultural yields with limited available resources, and increased requirements to protect crops from unexpected climatic changes would create lucrative growth prospects for the Smart Greenhouse market across the Asia-Pacific region.

Major market players included in this report are Nexus Corporation, Argus Control Systems Limited, Certhon Rough Brothers Inc, GreenTech Agro LLC, Netafim, Sensaphone, Cultivar Ltd, Heliospectra AB, and LumiGrow
The detailed segments and sub-segment of the market are explained below:
By Type: Hydroponics, Non-hydroponics
By Covering Material Type: Polyethylene, Polycarbonate, Others
By Offering: Hardware, Software & Services
By Component: HVAC Systems, LED Grow Lights, Control Systems & Sensors
By End User: Commercial Growers, Research & Educational Institutes, Retail Gardens, Others

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Bizwit Research & Consulting LLP