The smart greenhouse market will grow at a CAGR of 15.36% over the forecast period of 2017- 2023. The demand for smart greenhouses is increasing on account of improvement in overall productivity and the trend towards indoor farming. In addition, favorable government policies aimed at integrating IoT with the agriculture industry will further boost the demand for these greenhouses.
However high initial cost for setting up a smart greenhouse will restrict the growing demand for smart greenhouses. The North American and European region held a significant share in the market owing to the early adoption of technology and increasing research and development expenditure by vendors so as to develop cost-effective solutions. The Asia Pacific market is expected to witness substantial growth in the coming years due to increasing population and favorable government policies.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Smart Greenhouse value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Smart Greenhouse market.
Major industry players profiled as part of the report are Heliospectra AB, Postscapes, Lumiglow Limited, Certhon, Hort Americas, and Sensaphone among others.
The Smart Greenhouse Market has been analyzed through following segments:
LED Grow Lights
Breeding Acceleration by Computer Control
Automated Pumps, Valves and Fittings
Sensors and Cameras
Heating, Ventilating and Air Cooling (HVAC) System
Middle East and Africa