Global Smart Greenhouse Market Report and Forecast 2023-2028

Global Smart Greenhouse Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global smart greenhouse market reached a value of USD 1.79 billion in 2022. Aided by the growing need for sustainable farming methods and the rising application of digital technology in agriculture, the market is projected to further grow at a CAGR of 13.37% between 2023 and 2028 to reach a value of USD 3.82 billion by 2028.

A smart greenhouse is a self-regulating, micro-climate-controlled environment conducive for optimal plant growth. It utilises various sensors and devices to automate watering, temperature control, light control, and nutrient control. Apart from these, smart greenhouses also enable efficient pest management, thereby ensuring superior yield quality and quantity. This amalgamation of traditional horticulture with digital technology aims to tackle various agricultural challenges, such as resource conservation, sustainability, and food security.

The rising global emphasis on sustainable farming practices is a significant driver of the smart greenhouse market growth. As climate change continues to impact traditional farming methods, there is a surge in the need for controlled, adaptable environments for agriculture, thus fuelling demand for smart greenhouses. Additionally, increasing consciousness about water conservation and reducing the carbon footprint associated with conventional agriculture further boosts this market.

The expanding integration of digital technology in agriculture also contributes to the smart greenhouse market expansion. Precision agriculture, which aims to enhance the efficiency and productivity of farming through data-driven insights, has emerged as a key trend in recent years. In this context, smart greenhouses, equipped with IoT devices, AI, and machine learning algorithms, can provide real-time data about crop health, weather conditions, and resource usage, leading to precise and informed farming decisions.

Moreover, the escalating demand for fresh and locally sourced produce plays a crucial role in the smart greenhouse market development. As urbanisation intensifies, there is a growing need for innovative agricultural practices that allow cultivation in limited spaces. Here, smart greenhouses offer an efficient solution, enabling urban farming and contributing to the concept of 'farm to fork,' thereby driving market expansion.

Furthermore, the rising global population and resultant food demand have led to an increased focus on maximising agricultural yield, thereby highlighting the importance of smart greenhouses. These digitally equipped structures help in year-round cultivation, eliminating the constraints of seasonal farming and ensuring a steady supply of produce.

Furthermore, the rapid advancements in AI and IoT technology have significantly streamlined the operation and management of smart greenhouses, making them a more accessible and popular choice among farmers and cultivators. The future advancements in this digital technology promise even more sophisticated, efficient, and autonomous greenhouses, further promising growth for the smart greenhouse market.

Market Segmentation

The market can be divided based on type, component, end-user, and region.

Market Breakup by Type

• Hydroponics
• Non-Hydroponics

Market Breakup by Component

• HVAC Systems
• LED Grow Lights
• Irrigation Systems
• Sensor and Control System
• Valves and Pumps
• Others

Market Breakup by End-User

• Commercial Growers
• Research and Educational Institutes
• Retail Gardens
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global smart greenhouse companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Heliospectra AB
• Certhon Build B.V.
• Synnefa
• Nexsel Tech Pvt Ltd
• Argus Control Systems Limited
• Greentech Organic Hydroponics Systems Mfrs
• Netafim Ltd
• Phonetics Incorporated (Sensaphone)
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.