Hyderabad, Aug. 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Smart Greenhouse Market Report (2023-2028)," the market is estimated at USD 2 billion in 2023. It is expected to register a CAGR of 9.73% during the forecast period.
A smart greenhouse refers to a self-regulated controlled space that offers real-time control of climatic conditions inside the greenhouse. This includes optimizing temperature, luminosity, soil moisture, and humidity using electronic devices like actuators and sensors.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 2 billion |
| Market Size (2028) | USD 3.18 billion |
| CAGR (2023-2028) | 9.73% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The adoption of IoT and AI by farmers. |
| The demand for modern farming techniques. |
Who are the Top Companies in the Smart Greenhouse Market?
The market is highly fragmented. Several market players compete on a regional level to gain market share. The market players offer integrated products to enhance their presence throughout the value chain.
The significant players in the global smart greenhouse market are,
- Heliospectra AB
- Rough Brothers Inc. (Gibraltar Industries INC.)
- Lumigrow Inc.
- Certhon
- GreenTech Agro LLC
- Argus Control System Ltd
- Logigs
- Greenhouse Megastore (BFG Supply)
- Netafim
- Desert Growing
- Sensaphone
- CarbonBook (Motorleaf)
Other Reports That Might Be of Your Interest:
- Asia-Pacific Smart Watch Market Report - The Asia-Pacific smartwatch market value is estimated at USD 43.13 billion in 2023. It is expected to reach USD 105.93 billion by 2028, registering a CAGR of 19.69% during the forecast period (2023-2028).
- Smart Shelf Market Report - The smart shelf market size is estimated at USD 3.77 billion in 2023. It is expected to reach USD 10.29 billion by 2028, registering a CAGR of 22.26% during the forecast period (2023-2028).
Key Highlights from the Smart Greenhouse Market Report:
Adoption of IoT and AI by Farmers
- Farmers are adopting AI and IoT sensors to collect data points. They provide real-time data on critical factors like temperature, humidity, and light exposure throughout the greenhouse.
- Greenhouses with high-value crops are targets for hackers. Farmers are using security systems to monitor and detect suspicious activity in the greenhouse infrastructure.
Asia-Pacific to Witness High Market Growth
- In China, the market is witnessing the growing development of smart greenhouses to enable Chinese farmers to monitor the soil condition in real time.
- The rising population and changing diets in India are creating pressure on land. As farmers are struggling to keep soil from degrading, the demand for smart greenhouses is increasing.
What are the Latest Developments in the Smart Greenhouse Market?
- In March 2023, Kind LED Grow Lights launched the X1 Greenhouse LED Grow Light to maximize crop growth and quality.
- In April 2022, the P100-M Smart Greenhouse was launched by the Department of Agriculture’s Regional Field Office 10 at its research facility.
Mordor Intelligence has Segmented the Smart Greenhouse Market Based on Type, Technology, and Geography:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hydroponic
- Non-hydroponic
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- LED Grow Light
- HVAC
- Material Handling
- Control Systems
- Sensors and Cameras
- Valves and Pumps
- Irrigation Systems
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Smart Greenhouse Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- United States Smart Homes Market Report - The US smart homes market size is estimated at USD 37.02 billion in 2023. It is expected to reach USD 57.28 billion by 2028, registering a CAGR of 9.12% during the forecast period (2023-2028).
- Smart Plug Market Report - The smart plug market size is estimated at USD 2.69 billion in 2023. It is expected to reach USD 9.12 billion by 2028, registering a CAGR of 27.66% during the forecast period (2023-2028).
- Smart Advisor Market Report - The smart advisor market is expected to register a CAGR of 20.30% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
