The smart greenhouse market is projected to reach USD 2.1 billion by 2025 from USD 1.4 billion in 2020; it is expected to grow at a CAGR of 9.2% from 2020 to 2025. The smart greenhouse market in APAC is projected to grow at the highest CAGR during the forecast period. The growth of the market in APAC can be attributed to the continuously increasing population of the region, thereby leading to rising demand for food. This has led to an increase in the adoption of advanced technologies such as smart greenhouses to enable the supply of fresh fruits and vegetables throughout the year. The growers in China have also introduced advanced growing techniques such as controlled-environment agriculture (CEA) and hydroponics to increase their yields. Moreover, high pressure to improve agricultural yields with limited available resources and increased requirements to protect crops from unexpected climatic changes are also expected to increase the adoption of smart greenhouses in APAC during the forecast period.
Nexus Corporation (Nexus, US), Argus Control Systems Limited (Argus Controls, Canada), Certhon (Certhon, Netherlands), Rough Brothers, Inc. (Rough Brothers, US), GreenTech Agro LLC (GreenTech Agro, US), Netafim (Netafim, Israel), Sensaphone (Sensaphone, US), Cultivar Ltd. (Cultivar, UK), Heliospectra AB (Heliospectra, Sweden), and LumiGrow (LumiGrow, US) are a few major players in the smart greenhouse market.
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Top 2 Players in Smart Greenhouse Market:
Certhon is a combination of 2 sister companies—Wilk van der Sande (technical installations) and Bosch Inveka (greenhouse construction)—that work together to provide greenhouse solutions and products. Certhon has adopted strategies of contracts, agreements, and expansions to increase its share in the smart greenhouse market. For instance, in December 2018, Certhon opened an additional research facility at Delphy. The facility has been extended with the addition of 2 climate cells. This expansion helped the company gain increased knowledge about daylight-free cultivation. Certhon could consider focusing on organic growth through product launches in different regions to establish its presence in countries such as the US, Germany, and China. Additionally, it can offer training programs to users to train them about the use of agronomic hardware and software, as well as offer customers round-the-clock services even after the project has been completed.
Sensaphone designs innovative, remote environmental monitoring systems, which help safeguard assets of greenhouses while sharing environmental data related to temperature, humidity, and power failure in greenhouses. Sensaphone focuses on increasing its sales by launching new products in the smart greenhouse market. For instance, in April 2019, the company launched the Express II monitoring system to cater to the operational requirements of greenhouses. The Express II monitoring system allows users to remotely monitor changes in the environmental conditions of greenhouses and evaluate the performance of equipment installed in them round-the-clock. The company could emphasize on expanding its business in Europe and APAC by partnering or acquiring small players in the smart greenhouse market space. This is expected to help the company maximize its revenue by targeting latent opportunities in these regions.
Smart Greenhouse Market by Type (Hydroponics and Non-Hydroponics), Covering Material Type (Polyethylene, Polycarbonate, and Others), Offering (Hardware and Software & Services), Component, Cultivation, End User, Region - Global Forecast to 2025
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