Albany, NY -- (SBWIRE) -- 04/26/2016 -- Automation of processes and conservation of resources is the mantra to cater to the food needs of the expanding global population, says a new report by Transparency Market Research (TMR). The report on the global smart greenhouse market analyzes the reasons why greenhouses and especially smart greenhouses are a formidable solution for cultivating crops in a controlled environment. This is explained in the report, titled "Smart Greenhouse Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023."

Smart greenhouses are a step ahead of regular greenhouses, which capture solar radiation for plant cultivation sans human intervention. Smart greenhouses are a farming technique in which crops are cultivated in a controlled environment. To cater to the increasing food needs, traditional farming practices are gradually being replaced by automated ones. The adoption of advanced farming techniques is one of the major reasons driving the global smart greenhouse market. The rising need for the adoption of smart farming techniques for energy conservation is also benefitting this market. The smart greenhouse market will also benefit from the proliferation of rooftop farming practices in urban areas.

However, the high initial set-up cost of smart greenhouses is restraining the market's growth. Nevertheless, emerging vertical farming practices in urban regions will boost the growth prospects for players in this market. In addition, the demand for smart greenhouse farming practices is also creating new growth opportunities in the global market. Hence, the smart greenhouse market will display robust growth until the end of the forecast period.

On the basis of technology, material handling, heating, communication technology, irrigation systems, valves and pumps, ventilation and air conditioning (HVAC), LED grow lights, control systems, and others are the segments of the market. Of all, LED grow lights are expected to account for the largest revenue share in the market during the forecast period. This is mainly due to the increasing need for long-lasting and energy-efficient lighting technology.

By type, the report segments the market into hydroponic and non-hydroponic. Non-hydroponic accounts for the majority share in the global market and is expected to retain its lead until the end of the forecast period. However, the hydroponic segment has higher growth potential during the forecast period.

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Europe stands as the largest market for smart greenhouses. The early adoption of modern farming practices in the region, which includes smart greenhouses as well, is driving this market. Asia Pacific and Rest of the World will display robust growth in the smart greenhouse market in the coming years. Increasing urbanization in emerging economies and adoption of modern farm practices to cater to the food needs of the expanding global population are the reasons for this.

The report mentions top players in the global smart greenhouse market, namely Rough Brothers Inc., Terrasphere Systems LLC, LumiGrow Inc., Hort Americas, Nexus Corporation, Certhon, Heliospectra AB, Argus Control Systems Ltd., Ceres Greenhouse Solutions, JFE Engineering Corporation, Logiqs B.V., and Agro LLC, among others.

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TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.