1. What is the projected Compound Annual Growth Rate (CAGR) of the Smart Greenhouse Market?
The projected CAGR is approximately 10.3%.
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Smart Greenhouse MarketSmart Greenhouse Market by Type (Hydroponics, Non-Hydroponics), by Deployment (Hardware, Solution), by Component (HVAC Systems, Led Grow Lights, Irrigation System), by End User (Commercial Growers, Research & Educational Institutes, Retail Gardens), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2025-2033
The Smart Greenhouse Marketsize was valued at USD 1.7 Billion in 2023 and is projected to reach USD 3.86 by 2032, exhibiting a CAGR of 10.2 % during the forecast period. The smart greenhouse means incorporating these technologies in the regular greenhouses to maintain the right environment for the plants and increase crop production while minimizing the use of resources. Smart greenhouses make use of sensors, actuators, or automation systems for controlling important factors such as temperature, humidity, light, and water. They regulate numerous factors that determine plant growth, which makes it possible to grow crops in different areas and at any time of the year. Smart greenhouses are used in horticulture, farming, production of crops, research, and educational purposes. The current trends visible in the market include the ability to operate the devices through IoTs, analyzing capabilities to derive certain information and energy management. Automated greenhouse systems are also growing as the demand for efficient and sustainable practices in agriculture rises even higher.
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The smart greenhouse market is poised for significant growth as the need for sustainable and efficient food production intensifies. Technology advancements and government support will drive market expansion, offering opportunities for players in the industry.
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 10.3% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 10.3%.
Key companies in the market include Some of the major players among the others in the greenhouse market are Nexus Corporation, Argus Control Systems Limited, Certhon, Rough Brothers, Inc., GreenTech Agro LLC, Netafim, Sensaphone, Cultivar Ltd., Heliospectra AB, and LumiGrow. Where these companies are focusing on to improve the efficiency of the yielding along with minimizing the utilization of resources such as labor. They are also working and investing huge amounts on R&D to detect and prevent infection and diseases in crops. For instance, LumiGrow in partnership with Scanit Technologies has launched early disease detection LumiGrow SporeCam sensors through which farmers will be able to inspect and detect diseases such as Powdery Mildew and Botrytis. This will help farmers to optimize, take preventive actions and provide required treatment to the crops which will to minimize the yield loss..
The market segments include Type, Deployment, Component, End User.
The market size is estimated to be USD 1.7 USD million as of 2022.
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The market size is provided in terms of value, measured in USD million.
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