Non hydroponic Smart Greenhouse Market to Valuation of Reach US$ 1.10 Bn by 2027: Industry Probe

January 02, 2020, Domain: Industrial Goods Machinery & Services

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Smart Greenhouse Market (Type: Hydroponic and Non-hydroponic; Technology: HVAC, LED, Material Handling, Grow Light, Communication Technology, Water System Framework, Control Framework Irrigation System, Valves & Pumps, and Others) – Global Industry Dynamics 2018-2019, Trends and Forecast, 2020–2027,’ the global non-hydroponic smart greenhouse market is expected to expand at a CAGR of 8.4% from 2019 to 2027 and reach US$ 1.10 Bn by 2027.

Overview

  • Replacement of human labor and modernization of the agricultural industry in developing as well as developed regions are accelerating the growth of the global smart greenhouse market. The need for high output from limited fertile land is projected to push the application of new technologies in the agricultural industry. Growing mechanization in the agriculture sector is anticipated to boost growth in research and development for ease of agricultural operations and rise in its output.

  • The adoption of IoT technologies and the integration of smart technologies in the agricultural sector is growing rapidly, thereby encouraging manufacturers to provide connected solutions to their customers. These technologies control the fertilizing process and provide remote monitoring, allowing farmers to improve productivity and efficiency. In terms of type, non-hydroponic crops hold a major share of 56% globally in 2018. Non-hydroponic includes soil-grown, aeroponics, aquaponics crops, etc. Hydroponically grown crops are sustainable and eco-friendly and the segment is expected to grow at a good growth rate in the coming years

Driving Factors

  • Indoor vertical farms produce large quantities of fruits, vegetables, and fish in self-controlled environments inside used warehouses, parking spaces, and freight or shipping containers. This technique utilizes less water and delivers higher yields with least utilization of land in contrast to conventional farming methods. Indoor growers are highly dependent on innovative technologies, such as lighting solutions, controllers, and material handling equipment, as they have to control the environment.

 

Key Challenges

  • The limitation of IoT in security and privacy concerns and initial high set-up cost are some of the factors which might hamper the growth of the smart greenhouse market

 

Market Preference

  • The adoption of the greenhouse by farmers to meet the growing demand to increase farm yields and food supply is expected to propel the smart greenhouse market in the Asia Pacific region. The industry is witnessing a growing demand for the cultivation of grains and crops due to an increase in the population and consumption of food items.

  • Agricultural product sales are projected to rise at a high pace in the Asia Pacific region, owing to an increasing population and per capita calorie intake. These factors are also expected to facilitate the expansion of the processed food & beverage sector in developing countries of the region, thereby propelling the hydroponic segment of the smart greenhouse market.

Competition Landscape

  • The smart greenhouse market is dominated by several players who are focused on the development of new products to cater to changing consumer preferences

  • The report includes the below-mentioned pointers of major players operating in the smart greenhouse market:

    • Competition Matrix

    • Company Overview

    • Vendor Offering mapping

    • Market Share Analysis (2018)

    • Business Strategies / Recent Developments

      • Technological advancements

      • Key mergers and acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered under the Scope Include

  • Heliospectra AB

  • Rough Brothers, Inc.

  • Terrasphere Systems, LLC

  • Certhon, LumiGrow Inc.

  • Argus Control Systems Ltd.

  • Ceres Greenhouse Solutions

  • JFE Engineering Corporation

  • Nexus Corporation

  • GreenTech Agro LLC.

  • Logiqs B.V.

Market Segmentation/Research Scope

Smart Greenhouse Market – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027

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