Increasing food security concerns, rapidly growing global population, and rising food demand are some key factors driving global smart greenhouse
VANCOUVER, BC, CANADA, March 5, 2022 /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. 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. Limited availability of arable land in developed and developing countries is also driving deployment of smart greenhouses to increase crop yield in order to meet rising demand for food.
Advancements in technology is aiding in wirelessly controlling and monitoring multiple greenhouses using Internet of Things (IoT) from a central location.
The report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the Smart Greenhouse market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Smart Greenhouse market.
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Some Key Highlights From the Report
• In July 2020, Netafim USA enhanced its Digital Farming solution offering with the addition of Industry leading soil sensor technology of Sentek. The agreement is expected to help in the integration of Automated Irrigation Control, Fertigation, and Crop Protection Solutions of Netafim, with the Industry’s Leading Precision Soil Moisture Management Technologies.
• 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.
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Smart Greenhouse Market Segmentation
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)
• Component Outlook (Revenue, USD Billion; 2018–2028)
o LED Grow Lights
o HVAC System
o Sensors & Control System
o Irrigation System
• End-use Outlook (Revenue, USD Billion; 2018–2028)
o Research & Educational Institutes
o Commercial Growers
o Retail Gardens
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• Regional Outlook (Revenue, USD Billion; 2018–2028)
o North America
8. Rest of Europe
o Asia Pacific
3. South Korea
5. Rest of APAC
o Latin America
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
4. South Africa
5. Rest of MEA
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The report also studies the key companies of the Smart Greenhouse market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some key players analyzed in the report are:
Argus Control, Certhon, Rough Brothers, GreenTech Agro LLC, Netafim, Sensaphone, Cultivar, Heliospectra AB, LumiGrow, and Desert Growing.
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Smart Greenhouse market?
What are the key product types and applications of the Smart Greenhouse industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Smart Greenhouse market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Smart Greenhouse Market by 2028?
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