Smart Greenhouse Market is expected to increase to more than USD 1.2 Billion by 2020, growing at a CAGR of 14.18% between 2015 and 2020.
Traditionally, the majority of the greenhouses used soil as the base for growing plants. However, hydroponic or soil-less horticulture has recently started gaining popularity in the greenhouse industry. The smart greenhouse market is analyzed by different types and on the basis of technologies used. The type segments considered for the market estimation of smart greenhouses include hydroponic and non-hydroponic techniques.
Heating, Ventilation & Air Conditioning or HVAC is the technology used for maintaining optimum temperature within a controlled environment. In case of greenhouses, HVAC plays a vital role in maintaining an ideal temperature for plant growth. This technology is needed to nullify the effects of external temperature changes and enable cultivation throughout the year. HVAC systems are designed taking into consideration the external and internal environment fluctuations in the region in which the greenhouse are setup.
LED grow light is costly compared to other grow light technologies owing to which their usage was restricted to applications where urban farming is conducted on a large scale. However, with advancements in technologies and awareness about energy efficiency compared to other lighting technologies, its adoption has increased rapidly. This market is expected to grow at a CAGR of 27.46% from 2015 to 2020.
This research study segments the smart greenhouse market on the basis of different types, technologies, and regions. It also provides revenue forecast and analyzes the trends in the market. The geographical analysis contains an in-depth classification for North America, Europe, APAC, and Rest of the World and highlights some of the major countries/regions from all these geographies. The sections and the subsegments in the report also shed light on drivers, restraints, opportunities, current market trends, and the technologies expected to revolutionize the smart greenhouse domain. The report also provides comprehensive profiles of various companies active in these markets. Moreover, it includes a competitive landscape of the key players in the smart greenhouse market with detailed market ranking analysis, mergers & acquisitions, collaborations, partnerships, new product developments, and the key growth strategies of each player.