A greenhouse is a glasshouse or a hothouse in which plants are grown in a controlled environment. It is structure which captures solar radiations and provide favorable environment for growth of plants. Smart greenhouse is a type of farming technique used for cultivating crops without the requirement of human intervention. Recently, the traditional agriculture techniques are gradually being replaced with automated urban farming methods. Transition from traditional agricultural methods with advanced urban farming is driving the growth of this market. Traditional greenhouse used soil as the foundation for growing plants. However, in the past few years use of soil-less and hydroponic horticulture are gaining popularity in green house industry.
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The major factor driving the growth of smart greenhouse market is due to the rising need for smart farming techniques to meet the demands of energy efficiency from customers. Moreover, the smart greenhouse market is expected to see a robust growth during the forecast period owing to the rising population. Additionally, rooftop farming in urban regions is on the rise, further aiding the market growth. However, high initial investment cost for setting up smart greenhouses is posing as a major restraint to this market. Emerging vertical farming techniques in urban regions is creating new opportunities for various players in the market. Moreover, demand for advanced smart greenhouse farming technologies also paving new opportunities in smart greenhouse market. Overall smart greenhouse market is expected to see a robust growth during the forecast period.
The market is segmented on the basis of technologies into: material handling, valves and pumps, heating, ventilation and air conditioning (HVAC), communication technology, LED grow light, irrigation systems, control systems and others. LED grow light segment holds the largest market share in terms of revenue during the forecast period. Rising need for long lasting and energy-efficient lighting technology is driving the growth of this segment. Furthermore, the market can be segmented on the basis of type by: hydroponic and non-hydroponic. Presently, majority of the market share is captured by non-hydroponic type smart greenhouse and expected to maintain its dominance during the forecast period. However, the hydroponic type has the highest growth potential over the forecast period.
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Among all the regions, Europe holds the largest market share of smart greenhouse market. The growth in this region is due to the early adoption of smart greenhouse technology. However, Asia pacific and Rest of the world regions is expected to witness a robust growth during the forecast period owing to the increasing population and presence of growing economies in the region. Moreover, increasing urbanization in these regions is further aiding the market growth.
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