Smart Greenhouse Market

Market Synopsis:

The Global Smart Greenhouse Market is valued at USD 1,629.5 Million in 2021 and is projected to reach a value of USD 2,702.8 Million by 2028 at a CAGR of 8.80% over the forecast period.

A Smart Greenhouse is a type of greenhouse that grows plants without the need for human intervention. Crops grow in a Smart Greenhouse for a set amount of time without any climate adjustments or human intervention. The temperature and watering system are controlled by multiple microprocessors and sensors in a smart greenhouse. A smart greenhouse's main purpose is to boost farmer productivity and improve farming results. The Smart Greenhouse Market is expected to develop as organic food becomes more popular around the world and farmers and agriculturists utilize IoT and artificial intelligence. Furthermore, the industry grows due to the convenience of crop monitoring and harvesting. However, the market's growth is hampered by high investment costs due to the deployment of pricey technology in Smart Greenhousees. Furthermore, the use of vertical farming technology and public-private partnerships in the agriculture sector are likely to give lucrative market growth possibilities.

Farmers producing crops are becoming increasingly reliant on technology for day-to-day tasks. Wi-Fi, Zigbee, extra wireless sensors, and low-power wide-area network technology are just a few examples of the different technologies that enable farmers to undertake effective agriculture operations such as harvesting, purchasing, planting, and inventory control. Farmers' rising use of IoT and artificial intelligence also helps with crop field monitoring and irrigation automation. Furthermore, innovative technology has enhanced organic farming production, including greenhouse and vertical farming. Furthermore, integrating IoT and AI in greenhouses eliminates the need for constant crop monitoring and provides farmers with cost-effective and appropriate solutions with less manual intervention, resulting in increased market growth.

Market Segmentation:

The Smart Greenhouse Market is segmented on the basis of Type, Covering Material Type, Offering, Component and End User. On the basis of Type, the market is segmented into Hydroponics and Non-hydroponics. On the basis of Covering Material Type, the market is segmented into Polyethylene, Polycarbonate and Others. On the basis of Offering, the market is segmented into Hardware and Software & Services. On the basis of Component, the market is segmented into HVAC Systems, LED Grow Lights and Control Systems & Sensors. On the basis of End User, the market is segmented into Commercial Growers, Research & Educational Institutes, Retail Gardens and Others.

Based on Type-

During the projection period, the hydroponics segment is expected to gain a large share. The potential of hydroponics smart greenhouses to generate nutritious eatables in less space is a crucial element driving Smart Greenhouse growth in this segment. The non-hydroponics category, on the other hand, is expected to grow at the quickest rate during the projection period due to its ecologically benign character and the surge in adoption of non-hydroponics greenhouse by many big firms. This promotes the growth of the Smart Greenhouse market in this industry.

Based on End user-

The Smart Greenhouse Market was dominated by the research and educational institutes sector. Smart greenhouses are being provided to research and educational institutes for public and private research. They provide completely functional Smart Greenhouse facilities by including various plant systems and plant research equipment into their designs to ensure that these research facilities run optimally. Depending on the research activities to be carried out, research greenhouses might be modest or enormous. Smart greenhouses are mostly used by research and educational institutes, which conduct study on various flowers, fruits, and vegetables and provide hands-on experience to students on campuses and in schools.

Europe Region Dominates the Smart Greenhouse Market with the Largest Share

Europe is projected to acquire the largest market share with a share of 36.10%. Smart Greenhouse techniques were originally used in Europe, particularly in countries like Italy, Spain, and the Netherlands, where greenhouse horticulture covers large areas. Europe is the most powerful player due to urbanization, rapid technological advancements, and high demand for fruits and vegetables. Smart Greenhouse' ability to provide larger yields than traditional agricultural methods, as well as the shrinking amount of arable land per person, are propelling the worldwide Smart Greenhouse Market forward. The worldwide Smart Greenhouse market report covers a detailed analysis of the market for the predicted period.