Smart Greenhouse Market size is Estimated to Attain $3.23 Billion by 2027 | Registering a CAGR of 11.4%

Allied Market Research published a report on the Smart Greenhouse Market by Type, Component, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027. 

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.

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Smart greenhouse is the revolution of agriculture in which self-regulating platform is made for monitoring and controlling the growth condition of the plants and to automate their growing process. It helps farmers and agriculture firms to control infection in the crops and provide different agrochemical treatment for increasing the fertility of the soil. Furthermore, rise in popularity of organic food across the globe and surge in adoption of IoT and artificial intelligence by farmers and agriculturists drive the growth of the market.

In addition, ease of crop monitoring and harvesting fuels 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 increase in public-private partnership in the agriculture sector are expected to provide lucrative opportunities for the market growth.

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The adoption of smart greenhouse has increased over time due to the adoption of advance technology in farming such as machine learning and artificial intelligence and enhancements in supportive government regulations across the globe. In addition, the growth of the greenhouse market is driven by factors such as rise in trend of using organic foods, optimum use of vertical space, and minimal impact of weather on yield. Increase in population leads to rise in demand-supply gap for food. Thus, the need for alternative farming techniques such as smart greenhouse is expected to grow in the near future.

According to CXOs of leading companies, increase in economic strength in Asia-Pacific is expected to provide lucrative opportunities for the market growth. Key players are focusing toward product development and increasing their presence across the globe, owing to growth in competition among local vendors, in terms of features, quality, and price.

Businesses can evaluate the Porter's Five Forces Analysis to determine the structure, level of competition, and industry's strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company's success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.

Competitive Analysis:
The smart greenhouse industry key players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the smart greenhouse industry include:
⦁ Argus Controls
⦁ Certhon
⦁ Cultivar
⦁ Greentech Agro LLC
⦁ Heliospectra AB
⦁ Hort Americas
⦁ Lumigrow Inc.
⦁ Netafim
⦁ Rough Brothers
⦁ Sensaphone

Report Overview:
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Top Impacting Factors:
Increase in popularity of organic food across the globe and surge in adoption of IoT and artificial intelligence by farmers and agriculturists drive the growth of the market. In addition, ease of crop monitoring and harvesting fuels the market growth. 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 increase in public-private partnership in the agriculture sector are expected to provide lucrative opportunities for the market growth.

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 smart greenhouse market trends from 2019 to 2027 is provided to determine the market potential.

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