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Smart Greenhouse Market to Reach $3.23 Billion, Globally, by 2027 at 11.4% CAGR: Allied Market Research

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Allied Market Research

20 May, 2020, 14:10 GMT

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Increase in demand for organic food, rise in adoption of IoT and artificial intelligence by farmers and agriculturists, and ease of crop monitoring and harvesting fuel the growth of the global smart greenhouse market.

PORTLAND, Oregon, May 20, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, Allied Market Research published a report, titled, "Smart Greenhouse Market By Type (Hydroponic and Non-Hydroponic), Component (HVAC Systems, LED Grow Lights, Irrigation System, Valves & Pumps, Sensor & Control System, and Others), and End User (Commercial Growers, Research & Educational Institutes, Retail Gardens, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027". According to the report, the global smart greenhouse industry was estimated at $1.37 billion in 2019, and is expected to hit $3.23 billion by 2027, registering a CAGR of 11.4% from 2020 to 2027.

Drivers, Restraints and Opportunities

Increase in demand for organic food, rise in adoption of IoT and artificial intelligence by farmers and agriculturists, and ease of crop monitoring and harvesting fuel the growth of the global smart greenhouse market. On the other hand, high investment costs owing to deployment of expensive systems in smart greenhouses curtail down the growth to some extent. However, surge in adoption of vertical farming and increase in public-private partnership in the agriculture sector are expected to create multiple opportunities in the industry.

Download Sample Report (Get Full Insights in PDF - 233 Pages) @ https://www.alliedmarketresearch.com/request-sample/988 

COVID-19 Scenario

  • After the lockdown has been imposed and several strict measures have been taken to fight the virus, the manufacturing for all product categories has come to a halt. As a result, there is a shortage in the production of smart agriculture equipment which, in turn, has impacted the global smart greenhouse market to a significant extent.
  • However, with people being more conscious about eating and living healthy, there's been a steep rise in the demand for greenhouse products in the urban as well as rural areas.

The Hydroponic Segment to Dominate By 2027

Based on type, the hydroponic segment accounted for around two-thirds of the global smart greenhouse market share in 2019, and is expected to rule the roost by 2027. This is attributed to its capability to produce more nutritious eatables in less space consumption. At the same time, the non-hydroponic segment is expected to grow at the fastest CAGR of 12.8% throughout the forecast period, owing to its environment-friendly nature.

The LED Grow Lights Segment to Lead the Trail

Based on component, the LED grow lights segment contributed to more than one-fourth of the global smart greenhouse market revenue in 2019, and is anticipated to lead the trail till 2027.This is due to rise in demand for LED lights by various plant factories The HVAC systems, on the other hand, would register the fastest CAGR of 13.2% during the study period. Surge in demand for energy efficient solutions by smart greenhouse owners and rise in demand for HVAC system for maintaining the temperature of the greenhouse projects boost the segment growth.

Europe, Followed By Asia-Pacific and North America, Garnered the Highest Share in 2019

Based on geography, Europe, followed by Asia-Pacific and North America, held the highest share in 2019, generating nearly two-fifths of the global smart greenhouse market, owing to the adoption of advance technologies such as IoT and machine learning in farming. Simultaneously, the Asia-Pacific region would portray the fastest CAGR of 12.8% by the end of 2027. Various government initiatives to increase smart greenhouse projects boost the growth of the market in the region.

Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/988

Frontrunners in the Industry

  • Certhon, Cultivar
  • Netafim
  • Greentech Agro LLC
  • Sensaphone
  • Heliospectra AB
  • Lumigrow Inc.
  • Hort Americas
  • Argus Controls
  • Rough Brothers

Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

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Pre-Book Now with 10% Discount:

Smart Irrigation Market: Global Opportunity Analysis and Industry Forecast 2020-2027

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
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