Smart Greenhouse Market

Smart Greenhouse Market, by Type (Hydroponic And Non-Hydroponic), Technology (HVAC, LED Grow Light, Irrigation, Material Handling Systems, Valves, Control Systems, And Sensors & Cameras, And Others), and Geography - Forecast to 2023

A greenhouse is a place for plants growing in a controlled environment. They require a substantial amount of power, particularly for heating, monitoring, and lighting during the darker hours of the day. Smart greenhouses are an emerging application with high-growth potential, which uses several technologies such as HVAC systems, LED grow lights, control systems, irrigation systems, material handling equipment, valves and pumps, and sensors and cameras to monitor and control temperature and moisture remotely from a smartphone or any Android device. Smart greenhouses can also capture solar energy for electricity, without reducing plant growth. A new breed of solar panels deployed on the roof of a greenhouse can generate renewable electricity and also use a light-altering dye to help optimize photosynthesis in the plants beneath them. The growing population, which consequently increases the demand for food, the requirement for fresh, high-quality food are the major factors boosting the growth of the smart greenhouse market. The increasing trend of rooftop/vertical farming is expected to create opportunities. The smart greenhouse market is expected to grow from USD 1.26 Billion in 2018 to USD 2.28 Billion by 2023, at a CAGR of 12.6% between 2018 and 2023.

The smart greenhouse comes in 2 types: hydroponic greenhouse or soilless horticulture and non-hydroponic greenhouse. The hydroponic greenhouse market is expected to grow at the highest CAGR between 2018 and 2023. In recent years, hydroponics have gained popularity due to advancements in greenhouse structures and affordability of technologies that support plant growth. Hydroponics offers several advantages over soil-based horticulture, such as lower water consumption, no need of soil, better use of space and location, effective use of nutrients, and requirement for fewer pests. These are some advantages helping the market for hydroponic greenhouses to grow in the future.   

Smart greenhouses use technologies such as LED grow light, HVAC, irrigation systems, material handling equipment, valves, control systems, and sensors & cameras. Among all technologies, the market for LED grow lights is expected to grow at the highest CAGR during the forecast period owing to the operational efficiencies, reduced energy consumption, and improved production of warm-season crops such as tomatoes, lettuce, and cucumbers. LED technologies are gaining rapid acceptance all over the world as they are more energy-efficient and long-lasting than conventional lighting technologies, such as HID, CFL, and plasma lighting.

The market in APAC is expected to grow at the highest CAGR during the forecast period. The growing population is a driving factor behind the rising adoption of greenhouse automation technologies in APAC. Developments are largely witnessed in countries such as Japan, Australia, and New Zealand. Chinese growers have also introduced advanced growing techniques, such as CEA and hydroponics, to increase their yields. Growers have stared adopting this technology to get the high return on investment as control environment agriculture saves costs spent on water and energy and offers high returns. Also, the infrastructural development is growing at the rapid pace in APAC since the past few years. Continuously growing population, along with fast-growing economies, such as China, is expected to boost the smart greenhouse market growth in this region.   

Related Reports:

Smart Greenhouse Market by Type (Hydroponic and Non-hydroponic), Technology (HVAC, LED Grow Light, Irrigation System, Material Handling, Valves, Control System, and Sensor & Camera), and Geography - Global Forecast to 2023

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Report Code
SE 3602
RI Published ON
3/23/2018
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