Portland, OR, March 10, 2021 (GLOBE NEWSWIRE) -- As per the report by Allied Market Research, the global smart indoor garden systems market was pegged at $105,627.0 thousand in 2019, and is anticipated to garner $176,559.1 thousand by 2027, growing at a CAGR of 8.4% from 2020 to 2027.
Surge in awareness regarding smart indoor gardening, rise in disposable income, growing greenhouse effect, and expansion of the construction sector have boosted the growth of the global smart indoor garden market. However, availability of substitutes and changing, unfavorable climate conditions hamper the market growth. On the contrary, advancements in smart door gardening are expected to open lucrative opportunities for the market players in the future.
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Covid-19 Scenario
- The Covid-19 outbreak and followed pandemic hindered the manufacturing activities of smart indoor garden systems. Moreover, the prolonged lockdown resulted in a disrupted supply chain and affected the revenue flow of the market.
- However, several governments of countries have allowed resuming industrial processes, which is expected to help the market get back on track.
The global smart indoor garden systems market is segmented on the basis of type, technology, end user, and region. Based on type, the wall garden segment is projected to portray the highest CAGR of 9.2% during the forecast period. However, the floor garden segment held the lion’s share in 2019, accounting for more than three-fourths of the market.
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On the basis of end-user, the residential segment is estimated to register the highest CAGR of 8.7% during the forecast period. However, the commercial segment contributed the highest share in 2019, accounting for more than half of the market.
The global smart indoor garden systems market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to manifest the highest CAGR of 10.9% during the forecast period. However, the market across North America dominated the market in 2019, accounting for more than two-fifths of the market.
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The global smart indoor garden systems market report includes an in-depth analysis of the prime market players such as BSH Hausgeräte GmbH (Robert Bosch Stiftung GmbH), CityCrop Automated Indoor Farming Ltd., Click & Grow LLC., EDN Inc., Grobo Inc., Plantui Oy, SproutsIO Inc., Aero Farms, Agrilution GmbH, and AVA Technologies Inc.
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