Published by MarketsandMarkets, the report "Smart Greenhouse Market by Type, Technology, and Geography - Global Forecast to 2023", estimates the overall market for smart greenhouses to progress from $1.26 Billion in 2018 to $2.28 Billion by 2023, at a CAGR of 12.6% between 2018 and 2023. Factors driving the market include a trend for indoor farming due to changing consumer preferences, high demand for food due to enormously growing population, favorable government regulations and incentive pertaining to smart greenhouse lighting technology.
- HVAC and LED are major technologies for smart greenhouses. An HVAC system is used for maintaining the optimum temperature within a controlled environment and LED grow light works as supplemental lighting in the greenhouse environment.
- Non-hydroponic smart greenhouse to account for larger share of smart greenhouse market. Non-hydroponic greenhouses use soil as the base for growing plants and proper analysis of the soil needs to be done to determine the type of plants to grow.
- Europe held largest share of overall smart greenhouse market in 2017.
- The smart greenhouse market includes players such as Heliospectra (Sweden), LumiGrow (US), Rough Brothers (US), Nexus Corporation (US), Argus Control Systems (Canada), Certhon (Netherlands), Logiqs (Netherlands), Greentech Agro (US), Netafim (US), and International Greenhouse Company (US).
Ready to grow some indoor veggies? Then browse the "Smart Greenhouse Market - Global Forecast to 2023"