DUBLIN--(BUSINESS WIRE)--Sep 14, 2022--
The "Smart Greenhouse - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
A $2.4 Billion Global Opportunity for Smart Greenhouse by 2026
Amid the COVID-19 crisis, the global market for Smart Greenhouse estimated at US$1.7 Billion in the year 2022, is projected to reach a revised size of US$2.4 Billion by 2026, growing at a CAGR of 9% over the analysis period.
Hardware, one of the segments analyzed in the report, is projected to grow at a 8.5% CAGR, while growth in the Software & Services segment is readjusted to a revised 11.4% CAGR. Smart greenhouse relates to a greenhouse where crops are grown without the involvement of humans and without climatic alterations.
In other words, smart greenhouses are a controlled, self-regulated environment which facilitates controlling the climatic conditions such as humidity, soil moisture, luminosity, and temperature within the greenhouse in real time with the use of electronic systems such as sensors and actuators. Also, automated action is activated on the basis of external environmental changes, which therefore helps create the ideal condition for the growth of plants. The main aim of a smart greenhouse is to augment productivity and generate improved farming results.
Smart greenhouses continuously record and transmit information automatically regarding the crop and the environment. In these greenhouses, data is gathered and transmitted to an IoT platform and algorithms convert it to insights that help understand any irregularities or challenges.
There is on-demand control of lighting and HVAC operations as well as spraying and irrigation functions. Constant data monitoring supports the design of predictive models for forecasting the risks of infection and crop disease. With the use of IoT sensors, several data points can be gathered with great detail. They offer real-time information regarding climatic conditions such as CO2, light exposure, humidity, and temperature within the greenhouse.
The global smart greenhouses market is being propelled by the rising food demand due to growing global population, increasing AI and IoT adoption in the agriculture sector, rising trend of indoor farming, especially in urban locations, and growing governmental efforts to encourage the use of smart agricultural approaches. MetoMotion`s GRoW robot leverages advanced AI-based computers for 3D perception and finds application in greenhouses.
The robot is uniquely built for use in greenhouse, including algorithms (path-planning), and motion control that is flexible. The surging demand for organic foods worldwide is also aiding market growth. Further, the easy monitoring of crops as facilitated by smart greenhouses is augmenting their popularity.
Rising rooftop farming in cities across the world is also boding well for the market. This practice generally includes the use of containers, aeroponics, hydroponics, or green roofs. Such farms use rainwater, have reduced human role, lesser pest attacks on crops, and lower air pollution.
The market is also gaining from the rising popularity of vertical farming technology, and increasing collaboration among private and public players in the agricultural industry. Governments are facing a lot of difficulties in ensuring constant food supplies, due to bourgeoning population and unpredictable weather patterns. In order to address this concern, scientists are devising a wide range of innovative strategies. Under this initiative, farmers are now using high-end Information Technologies for performing various agricultural operations.
Advent of smart greenhouses is bringing a paradigm shift in the way farming was used to be performed earlier. Introduction of wireless sensors are enabling users to gain comprehensive knowledge regarding accurate temperature, carbon dioxide, and humidity levels.
Propelled by their abilities to significantly enhance yield, demand for the novel technologies is witnessing an upward momentum. Innovation holds an important place in today`s highly competitive business scenario and agricultural sector is no exception to this. With an intention of propelling farmers to construct smart green houses, scientists are undertaking various research and development projects.
Growing use of high-end computers and cloud computing technologies are allowing agriculturists to collect and store a broad range of critical data. The novel devices are assisting users in selecting appropriate temperature, water, and humidity levels as per their specific requirements.
One of the major advantages associated with use of novel devices is that they mitigate requirement of integrating additional infrastructure. Introduction of AI and IoT systems are playing an important role in significantly enhancing labor efficiency, along with curtailing energy wastage. As a result, application of the advanced technologies is witnessing a robust surge. Advent of automated climate control, pH sensors, and irrigation devices are assisting farmers in cultivating high-yielding fruits, vegetables, and edible crops.
The novel equipment comprises wireless sensors that allow cultivators to monitor humidity and temperature levels on a real-time basis. Owing to their superior features, the novel devices are gaining traction among various agriculturists and green house owners. Fueled by high growth prospects, several manufacturers are now developing easy to use, sustainable, and high-end IoT-enabled agricultural equipment. Apart from this, companies are also using automated vehicles for easily transporting various agricultural products. Propelled by various advantages associated with their use, demand for automated devices is expected to gain momentum.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- Year 2021 in Review and Near-term Outlook
- Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
- The Pandemic Impacts Agricultural Industry Supply Chain
- Agriculture Industry Accelerates Adoption of Advanced Technologies amid the Pandemic
- Small Farms Confront Considerable Challenges
- COVID-19 Pandemic Impact on the Smart Greenhouses Market
- Smart Agriculture Transforming Traditional Farming
- An Introduction to Smart Greenhouse
- Technologies Used in Smart Greenhouses
- Hydroponic and Non-Hydroponic Greenhouses
- Benefits of Smart Greenhouse System
- Global Market Prospects & Outlook
- Hydroponics Leads the Smart Greenhouses Market
- Europe: The Leading Regional Market
- Competitive Market Presence - Strong/Active/Niche for Players Worldwide in 2022 (E)
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 206 Featured)
- Argus Control Systems Ltd.
- Certhon Build B.V.
- Cultivar Ltd.
- Desert Growing
- Heliospectra AB
- International Greenhouse Company
- Logiqs B.V.
- LumiGrow, Inc.
- Netafim Ltd.
- Nexus Corporation
- Prospera Technologies Ltd.
- Rough Brothers, Inc.
3. MARKET TRENDS & DRIVERS
- AgTech Emerges as New Buzzword in Agricultural Industry
- Myriad Benefits of Smart Greenhouses to Propel Market Gains
- Growing Adoption of IoT Presents Vast Opportunities for the Smart Greenhouse Market
- Growing Adoption of IoT in Agriculture Presents Growth Opportunities for Smart Greenhouse Market
- Developments in Artificial Intelligence (AI) Encourage Growth in Greenhouse Industry
- Surging Demand for Food from World's Expanding Population Spurs Adoption of Advanced Farming Techniques, Driving Market Growth
- Climate Change Compounds Food Security Concerns
- Market Poised to Benefit from the Rising Consumption of Organic Foods & Resultant Rise in Organic Farmland
- Vertical Farming Technology's Growing Popularity to Fuel Smart Greenhouse Market Growth
- Vertical Farming Draws Particular Appeal amid COVID-19 Pandemic
- Rising Adoption of Indoor/Rooftop Farming in Urban Locations: Potential for Smart Greenhouses
- Smart Greenhouses Support the Transition towards Precision Farming
- HVAC and LED: Prominent Smart Greenhouse Technologies
- LED Grows Emerge as the Preferred Medium of Lighting in Smart Greenhouses
- High-Tech Greenhouses to be the Future of Agriculture
- Automated Greenhouse: The Ultimate Objective
- Students Develop a New Intelligent Greenhouse
- Challenges Facing Smart Greenhouse Market
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/skgf4j
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SOURCE: Research and Markets
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PUB: 09/14/2022 07:20 AM/DISC: 09/14/2022 07:22 AM