High investment costs owing to deployment of expensive systems in smart greenhouses
Northbrook, IL -- (SBWIRE) -- 10/25/2020 -- The smart greenhouse market is projected to reach USD 2.1 billion by 2025 from USD 1.4 billion in 2020; it is expected to grow at a CAGR of 9.2% from 2020 to 2025. Major drivers for the growth of the market are increasing adoption of Internet of Things (IoT) and artificial intelligence (AI) by farmers and agriculturists; growing demand for food owing to continuously increasing global population; surging adoption of indoor farming in urban areas; and rising number of government initiatives to promote the adoption of smart agricultural practices.
Based on end user, the research & educational institutes segment held the largest share of the smart greenhouse market in 2019.
Companies are providing smart greenhouses to research & educational institutes for public or private research. They are providing fully functional smart greenhouse facilities by integrating different plant systems and plant research equipment in their designs for the optimal performance of these research facilities. Research greenhouses can be small or large, depending on the requirements of research activities to be carried out. For instance, Nexus Corporation designs 15,000-square feet state-of-the-art research facilities, as well as 500-square feet smart greenhouses for high school programs. Research & educational institutes are the key end users of smart greenhouses as they carry out research activities related to different flowers, fruits, and vegetables, as well as provide hands-on experience to the concerned in campuses and schools.
Download PDF Brochure:
The hydroponics segment projected to account for larger size of the smart greenhouse market during the forecast period.
Hydroponics is a production method wherein plants are grown in a nutrient solution rather than in soil. This technique makes use of containers or specially designed benches with troughs to enable the suspension of plants in water. Smart greenhouses based on hydroponics use sand, pebbles, or sawdust as substrates as they have a high water-holding capacity. The roots grow within these substrates to secure plants in troughs or containers. Hydroponics-based smart greenhouses enable soilless agricultural practices to reduce the consumption of resources, thereby enabling this farming technique to be adopted by a large number of stakeholders, ranging from home gardeners to professional growers and supermarkets to restaurants.
APAC to witness the highest CAGR in smart greenhouse market during the forecast period.
The market in APAC has been studied for Australia, China, Japan, and the Rest of APAC. The smart greenhouse market in APAC is projected to grow at a fastest CAGR during the forecast period. The growth of the market in APAC can be attributed to its continuously increasing population, thereby leading to a rising demand for food from the region. This has led to an increase in the adoption of advanced technologies such as smart greenhouses to enable the supply of fresh fruits and vegetables throughout the year. The growers in China have also introduced advanced growing techniques such as CEA and hydroponics to increase their yields
Key Market Players
Nexus Corporation (Nexus, US), Argus Control Systems Limited (Argus Controls, Canada), Certhon (Certhon, Netherlands), Rough Brothers, Inc. (Rough Brothers, US), GreenTech Agro LLC (GreenTech Agro, US), Netafim (Netafim, Israel), Sensaphone (Sensaphone, US), Cultivar Ltd. (Cultivar, UK), Heliospectra AB (Heliospectra, Sweden), and LumiGrow (LumiGrow, US) are a few major players in the smart greenhouse market.