Nov 13, 2020, 06:33 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 13, 2020, 06:33 /Comserve / -- Global Smart Greenhouse Market is valued approximately at USD 1.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.20% over the forecast period 2020-2026.
Global Smart Greenhouse Market is valued approximately at USD 1.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.20% over the forecast period 2020-2026. The concept of greenhouse that cultivates crops deprived of human intervention is known as smart greenhouse. Crops in a smart greenhouse are grow up without variation of climate or any human interference through any means for a certain period. The smart greenhouse utilizes different sensors and microprocessors to operate functions such as controlling irrigation system and temperature.
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In smart greenhouse any type of fruit, plant and vegetables can be cultivated at any time of year. Growing demand for food with the increasing global population along with increasing number of government initiatives to encourage adoption of smart agricultural practices are considered to be the key driving forces of the market growth. Growing population is significantly increasing the per capita food consumption levels hence increasing the demand for food production. As per FOA organization, demand for cereals is expected to reach 3 billion tones in 2050 as compared to 2.1 billion tones in 2009 due to rising population. Similarly, the Per capita food consumption is expected to increase from 2700 in year 2005 to 3100 kilo calories by 2050. Furthermore, emerging trend of rooftop farming in urban areas is likely to create significant growth opportunity in the market over the forecast period. However, integration of technologies and the requirement of high initial investment impedes the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Smart Greenhouse market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to large number of smart greenhouse projects being carried out in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as increasing population, high pressure to improve agricultural yields with limited available resources and increased requirements to protect crops from unexpected climatic changes would create lucrative growth prospects for the Smart Greenhouse market across Asia-Pacific region.
Major market player included in this report are:
Argus Control Systems Limited
Rough Brothers, Inc.
GreenTech Agro LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Covering Material Type:
Software & Services
LED Grow Lights
Control Systems & Sensors
By End User:
Research & Educational Institutes
Rest of the World
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Shibuya Data Count
Tel: + 81 3 45720790
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