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Smart Greenhouse Market Worth 3.16 Billion by 2028 – Exclusive Report by Emergen Research
Smart Greenhouse Market
The global smart greenhouse market size is expected to reach USD 3.16 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rapid urbanization, climate change, growing global population, and rising food demand.
Rising awareness among farmers regarding the benefits of automatic monitoring and control of greenhouse environment has resulted in increasing adoption of smarter greenhouse automation systems and techniques in the recent past.
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Demand for automated (Light Emitting Diode) LED lighting greenhouse has been increasing to meet plants needs with real-time and scheduled spectrum. LED grow lights improve plant growth, offer reduced electricity consumption, and add additional light without increasing need for much modification of existing electrical infrastructure. The waste heat from LEDs can be transferred and distributed for use in greenhouse heating, which offsets the cost of fuel during cold weather and climate, and allows venting during warm weather.
The global Smart Greenhouse market is anticipated to deliver a steady CAGR of 9.4% over the next 8 years to reach a valuation of USD 3.16 Billion in 2028 from USD 1.54 Billion in 2020, according to the extensive analysis carried out by our analysts.
The leading companies of the Smart Greenhouse industry are expected to grow at a significant rate as increasing demand for the products of the Smart Greenhouse industry is being observed.
The report also analyses key elements such as growth trends, concentration area, business expansion strategies, market reach, and other key features that offer companies insightful data to fortify their position in the Smart Greenhouse industry.
Top Key Participants Of the Smart Greenhouse Industry Research By Emerge Research: Argus Control, Certhon, Rough Brothers, GreenTech Agro LLC, Netafim, Sensaphone, Cultivar, Heliospectra AB, LumiGrow, and Desert Growing.
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Some Key Highlights From the Report:
Hydroponics segment accounted for largest revenue share in 2020. Unfavorable weather conditions and increasing need to feed a growing population has resulted in rising utilization of hydroponic technology to mitigate impending food shortage.
LED grow lights segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing usage of automated LED lighting in greenhouses lowers electricity bills, provides additional lighting without increasing electrical infrastructure, and improves plant performance and ability to meet year-round growing schedules.
Research & educational Institutes segment accounted for a significantly high revenue share in the smart greenhouse market in 2020. Research & educational institutes are carrying out research activities for development of greenhouse monitoring using wireless sensor networks, which is expected to drive growth of the segment going ahead.
Asia Pacific accounted registered fastest revenue growth that other regional markets in the global smart greenhouse market in 2020. Increasing government initiatives favoring adoption of Controlled Environment Agriculture (CEA) practices to increase crop yield and quality is contributing to steady growth of the smart greenhouses market in the region.
Major Geographies Analyzed in the Smart Greenhouse Market Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The pandemic has significantly affected the lives and markets worldwide and has caused disruptions in the business sphere. The report encompasses the effects of the coronavirus pandemic on the Smart Greenhouse market along with impacts on the key segments of the industry. The report also offers an idea of the current scenario along with an impact assessment for the coming years.
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Emergen Research has segmented the global smart greenhouse market on the basis of type, component, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Hydroponics
Non-hydroponics
Component Outlook (Revenue, USD Billion; 2018–2028)
LED Grow Lights
HVAC System
Sensors & Control System
Irrigation System
Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
Research & Educational Institutes
Commercial Growers
Retail Gardens
Others
The report considers the following timeline for market estimation:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027
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Key Question You Are Ask For??
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by the players in the market?
What are the technological developments and product advancements occurring in the market?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
Conclusion Of the Report:
To conclude everything stated above, the report offers a panoramic view of the Smart Greenhouse market in both the global and regional markets, supported by key statistical data and industry-verified facts. It offers a thorough examination of the size, share, and market volume of the Smart Greenhouse industry to forecast the same evaluations until 2027. It also studies and analyzes the different growth prospects and opportunities, along with threats that the players might face in the Global Smart Greenhouse Market.
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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