Smart Indoor Garden Systems Market Size, Share, Forecast, 2020–2027 | By Type, Technology

According to a new report published by Allied Market Research, titled, “Smart Indoor Garden Systems Market by Type, Technology, and End-user: Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global smart indoor garden systems market size was valued at $105,627.0 thousand in 2019, and is projected to reach $176,559.1 thousand by 2027, registering a CAGR of 8.4% from 2020 to 2027.

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Factors such as the rise in urbanization coupled with an increase in disposable income in developing countries such as India, China, Brazil, Indonesia, and Vietnam drive the residential and commercial construction activities, which, in turn, is expected to fuel the growth of the global market. On the contrary, unfavorable climate conditions are one of the major restraints of the smart indoor garden systems market. Conversely, technological advancements in smart indoor garden systems are expected to provide lucrative opportunities in near future.

Depending on the type, the floor garden segment garnered the largest smart indoor garden systems market share in 2019 and is estimated to register a CAGR of 8.2% during the forecast period. This is attributed to the fact that floor garden offers better space allocation, as smart indoor plant systems require about 20% less space.

By Technology

On the basis of technology, the self-watering segment is anticipated to grow rapidly, during the forecast period due to a surge in urban population and a rise in residential and commercial construction projects. In addition, many companies are involved in the development of self-watering smart indoor gardening systems, which notably contributes toward the growth of the global market. For instance, in August 2020, Canada-based firm AVA Technologies launched Byte, a self-watering smart indoor gardening system. It is basically a soil-free pod with advanced self-watering systems.

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By End-user

By end-user, the residential segment garnered the largest share in the smart in 2019 and is expected to grow at a CAGR of 8.7% during the forecast period, owing to an increase in residential construction activities around the globe. For example, the Government of South Korea has decided to develop two new towns to balance development in Gangnam and Gangbuk areas. Such expansion and set up plans for new cities boost the demand for residential real estate amongst investors, which, in turn, will fuel the growth of the market. Hence, such factors provide lucrative opportunities for market growth.

By Region

Region-wise, the market of smart indoor garden systems is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor in 2019, however, Asia-Pacific is expected to exhibit the highest CAGR from 2020 to 2027. This is attributed to the fact that emerging economies in the region are witnessing commercial infrastructural development and an increase in residential construction projects. Moreover, rapid economic recovery significantly drives the market growth in this region.

However, the outbreak of COVID-19 has a negative impact on the manufacturing and production of smart indoor garden systems in the first and second quarter of 2020 and is likely to hamper the smart indoor garden systems market growth throughout the year. This has further affected the demand for smart indoor garden systems from the developed countries, including the UK, France, and Italy, thereby halting the production activities. In addition, the disruption of the supply chain is causing hindrance in manufacturing of the smart indoor garden systems around the globe.

Key Players

The key players profiled in the smart indoor garden systems market report include Aero Farms, Agrilution GmbH, AVA Technologies Inc., BSH Hausgeräte GmbH (Robert Bosch Stiftung GmbH) CityCrop Automated Indoor Farming Ltd, Click & Grow LLC, EDN Inc., Grobo Inc., Plantui Oy, and SproutsIO Inc.

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