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Increasing food security concerns, rapidly growing global population, and rising food demnd are some key factors driving global smart greenhouse market

VANCOUER, BC, CANADA, May 18, 2023 /EINPresswire.com/ -- 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. One of the key drivers fueling the growth of the smart greenhouse market is the growing demand for high-quality crops throughout the year. With changing consumer preferences and the need for a consistent supply of fresh produce, farmers are adopting smart greenhouse solutions to overcome the limitations of traditional farming methods. Smart greenhouses offer the ability to create optimal growing conditions, regardless of external factors such as weather or seasonal changes.

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driver for the smart greenhouse market is the increasing focus on sustainable agriculture practices. Smart greenhouses provide precise control over resource utilization, enabling efficient water and energy management. These systems reduce the reliance on chemical pesticides and fertilizers, resulting in reduced environmental impact and improved food safety. Moreover, smart greenhouse technologies support the concept of vertical farming, which maximizes land use and minimizes transportation costs.

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.

Important information in the market study :

The research offers thorough analysis and futuristic insights into the industry in several different regions. See how the most important regional growth drivers and restraints will affect market development and gain a grasp of uncertainty.

In order to understand how the demand across various segments will change over the following few years, evaluate market size statistics and projections. Get a thorough understanding of new market trends and developments to evaluate market prospects.

Key players operating in the market are Argus Control, Certhon, Rough Brothers, GreenTech Agro LLC, Netafim, Sensaphone, Cultivar, Heliospectra AB, LumiGrow, and Desert Growing.

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The Global Smart Greenhouse Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario.

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

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Global Smart Greenhouse Market has been classified into the subsequent geographical segments:

North America (U.S., Canada, Mexico)

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)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

The report offers the present scenario and future growth prospects Market in various geographical regions.

The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.

The SWOT analysis is conducted along with Porter's Five Force analysis.

The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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