Smart Greenhouse Market to Surpass 4258.43 Million by 2030 Drives Due to Environmental Concerns
SkyQuest projects that the smart greenhouse market will attain a USD 4258.43 million value by 2030, with a CAGR of 10.23% over the forecast period (2023-2030). Escalating environmental awareness fuels the global smart greenhouse market. Smart greenhouses employ advanced technologies such as IoT and automation to optimize resource usage, reduce energy consumption, and minimize ecological impact, aligning with sustainability goals and attracting eco-conscious consumers.
Westford USA, Aug. 29, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the demand for efficient crop cultivation drives smart greenhouse market growth. Smart greenhouses offer precision monitoring and control of environmental factors, enhancing crop yields and quality. This technology appeals to farmers aiming for improved productivity and resource management.
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- Pages – 157
- Tables – 92
- Figures – 76
The rising trend of urban farming propels the smart greenhouse market forward. Smart greenhouses enable year-round cultivation in urban settings, ensuring a local and fresh produce supply. As urban populations grow and space becomes limited, adopting smart greenhouses becomes essential for sustainable food production in cities.
Prominent Players in the Smart Greenhouse Market
- Heliospectra AB
- LumiGrow Inc.
- Rough Brothers Inc.
- Nexus Corporation
- Terrasphere Systems LLC
- GreenTech Agro LLC
- Logiqs BV
- Ceres Greenhouse Solutions
- Hort Americas LLC
- Smart Cannabis Corp.
- Green IQ
- Netafim Ltd.
- Signify Holding BV (formerly known as Philips Lighting)
- Motorleaf Inc.
- International Greenhouse Company
- BrightFarms Inc.
- Green Automation Americas LLC
- Agra Tech, Inc.
- Conservatory Craftsmen
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Hydroponic Segment is Expected to Grow the Market Due to Efficient Water and Nutrient Management
Hydroponic segment is rapidly emerging as the fastest-growing category in the smart greenhouse market due to its efficient water and nutrient management. Hydroponic systems offer sustainable cultivation practices, addressing resource limitations while maximizing yields. As global agriculture emphasizes eco-conscious methods, the adoption of hydroponics accelerates, making it a pivotal driver of the market’s robust expansion.
Asia Pacific emerges as the fastest-growing hub in the smart greenhouse market. The region embraces technological advancements in agriculture driven by escalating population, urbanization, and demand for fresh produce. Governments’ focus on food security and sustainability accelerates the adoption of smart greenhouse solutions, making the Asia Pacific a pivotal contributor to the market’s rapid expansion.
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LED Grow Lights Segment is Expected to Dominate the Market Due to Role in Optimized Plant Growth
The dominance of the LED grow lights segment in the smart greenhouse market is attributed to its pivotal role in optimized plant growth. LED lights provide energy-efficient and tailored lighting, crucial for year-round cultivation in controlled environments. Their ability to enhance crop yields, reduce energy consumption, and mimic natural sunlight makes them indispensable, driving their prominence within smart greenhouse systems.
Europe stands out as a dominant force in the smart greenhouse market, with the region’s focus on advanced agricultural practices, sustainable food production, and research initiatives fostering the adoption of smart greenhouse technology. Stringent regulations and environmental concerns further propel the utilization of innovative solutions. Europe’s robust commitment to modernizing agriculture positions it at the forefront of smart greenhouse market dominance.
A comprehensive analysis of the major players in the smart greenhouse market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in the Smart Greenhouse Market
- In 2023, Kind LED Grow Lights, a leading provider of LED grow lights, unveiled the X1 Greenhouse LED Grow Light. It utilizes advanced LED technology and a tailored plant spectrum to meet optimal growth needs and is designed for maximum crop growth and quality with reduced energy consumption.
- The P100-M Smart Greenhouse was launched at Malaybalay City’s Northern Mindanao Agricultural Crops and Livestock Research Complex in 2022. A collaboration between the Philippines’ Ministry of Agriculture, Food, and Rural Affairs and the South Korean government, the project employs advanced technology to cultivate strawberries, cherry tomatoes, and white potatoes.
Key Questions Answered in Smart Greenhouse Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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