Sarasota, FL — 01/15/2018 — According to the report, the global smart greenhouse market was valued at approximately USD 680.3 million in 2016 and is expected to reach approximately USD 1.31 Billion by 2022, growing at a CAGR of around 14.12% between 2017 and 2022. The report gives forecast and analysis for the smart greenhouse market on a global and regional level. The study provides historic data of 2016 along with a forecast from 2017 to 2022 based on revenue (USD Million). The study covers drivers and restraints for the smart greenhouse market all along with the impact they have on the demand over the forecast period. Furthermore, the report includes the study of opportunities available in the smart greenhouse market on a global level.
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The smart greenhouse is a glasshouse or a hothouse in which plants are developed under artificial environment. Its construction involves solar radiations and favorable environment for growing plants. It is a major revolution in the agriculture industry and the new trend in farming technique. Rising global population and advancement in technology are replacing traditional agriculture techniques with automated urban farming methods like the smart greenhouse.
Smart greenhouse market is primarily driven by increasing the need for smart farming techniques to fulfill the demand of energy efficiency from customers. In addition, rooftop farming in unbans regions is expected to propel the market growth during the year to come. However, high initial cost of automation may hinder the growth of the market. Moreover, rising need of smart greenhouse with technological development for energy efficiency will help to open up new opportunities for smart greenhouse market.
Based on the type, global smart greenhouse market is segmented into hydroponic and non-hydroponic. In 2016, a non-hydroponic segment dominated the smart greenhouse market and expected to maintain its dominance during coming years.
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Global Smart Greenhouse Market: Technology Segment Analysis
LED Grow Light
Valves & Pumps
Europe accounted for largest share of the smart greenhouse market in 2016. It accounted for significant share of the market due to the high demand of food from Germany, UK, and France. Europe was followed by Asia Pacific. Asia-Pacific is expected to witness the fastest growth in coming years due to the increasing population in the region.
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Some of the key participants involved in smart greenhouse market Rough Brothers, Inc., Heliospectra AB, Terrasphere Systems, LLC, Argus Control Systems Ltd., LumiGrow Inc., Ceres Greenhouse Solutions, Hort Americas, JFE Engineering Corporation, Nexus Corporation, Logiqs B.V., Certhon, and GreenTech Agro LLC.
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