Smart Greenhouse Market Expected To Grow At A CAGR of 11.11% By 2026| Brothers Inc, Ceres Greenhouse Solutions, Hort Americas, Argus Control Systems, JFE Engineering Corp, LumiGrow, Libelium, Smart Cannabis
The Global Smart Greenhouse Market is expected to grow at a CAGR of 11.11% during the forecasting period (2019-2026).
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The smart greenhouse is a glasshouse or a hothouse in which plants are developed in an artificial environment. Its construction involves solar radiations and favorable environment for growing plants. It is a major revolution in the agriculture industry and the new trend in farming technique. Increasing global population and advancement in technology are replacing traditional agriculture techniques with automated urban farming methods like the smart greenhouse.
Global Smart Greenhouse Market - Market Dynamics
Smart greenhouse market is primarily driven by growing the need for smart farming techniques to fulfill the demand of energy efficiency from customers. In addition, the growing popularity for technological developments and rooftop farming are anticipated to encourage the growth of the overall market in the upcoming years.
Furthermore, The emergence of vertical farming in urban areas and the growing awareness among consumers regarding will help to open up new opportunities for smart greenhouse market.
On the other side, the high cost of the smart greenhouse is considered as one of the key factors anticipated to restrict the growth of the global smart in the coming years. Additionally, the integration of technologies and the requirement of high initial investment are estimated to curb the growth of the market.
Based on the technology, the global smart greenhouse market is comprised of a variety of technology such as lighting system, irrigation system, control system, material handling, and communication technology. While lighting systems lead the market with a larger share, Due to the demand construction activities in emerging economies are expected to drive the smart greenhouse market over the forecast period. Increasing need for lifelong and energy-efficient lighting technology is expected to boost market growth in the forecast period.
Global Smart Greenhouse Market - Geographical Analysis
Geographically, the global smart greenhouse market is segmented into Asia-Pacific, North America, Europe, South America, and RoW. In 2018, Europe is projected to lead the overall market and account for a key share in the coming years. The robust growth of this region can be attributed to the increasing adoption of smart greenhouse technology in the last few years. Additionally, a significant contribution from Spain, the Netherlands, and Italy is anticipated to encourage the growth of the smart greenhouse market in the forecast period.
Asia Pacific is estimated to witness progressive growth in the coming years. The swift pace of urbanization in the region is one of the important factors predicted to accelerate the growth of smart greenhouse market. In addition, the development of the economy and the rising population are some of the other factors likely to boost the growth of the market throughout the forecast period.
Global Smart Greenhouse Market- Competitive Analysis
Some of the Major Key players present in the market include Rough Brothers, Inc., Ceres Greenhouse Solutions, Hort Americas, Argus Controls Systems Ltd., JFE Engineering Corporation, Nexus Corporation, LumiGrow, Inc., International Greenhouse Company, Libelium, and Smart Cannabis. The global smart greenhouse market is highly competitive and fragmented due to the presence of a large number of international and local players. The market is witnessing numerous expansions and mergers. Recently, In 2018, Pure Harvest Smart Farms, a transformational, tech-enabled arid climate agribusiness based in the Abu Dhabi, has launched its high-tech greenhouse technology to help companies build Stronger Businesses through more Diverse Teams.
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Visualize the composition of the global smart greenhouse market products across each indication, in terms of type, and technology highlighting the critical commercial assets and players.
Identify commercial opportunities in smart greenhouse products market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the smart greenhouse products levels 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the essential smart greenhouse products of all major market players.
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