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- Industry context
Last edited 16 Sep 2018
The smart greenhouse is a revolution in agriculture, creating a self-regulating, microclimate suitable for plant growth through the use of sensors, actuators, and monitoring and control systems that optimise growth conditions and automate the growing process.
The global smart greenhouse market was valued at approximately USD 680.3 million in 2016 and is expected to reach approximately USD 1.31 Billion by 2022, growing at a CAGR of around 14.12% between 2017 and 2022.
The market is expected to witness significant growth due to increasing population, climate change and, urbanisation. Smart farming is also expected to develop at a very fast rate. However, high installation prices and high initial investment costs may inhibit growth in non-developed countries such as the Middle East & Africa.
- Hydroponic greenhouses grow plants without soil.
- Non-hydroponic smart greenhouses dominate the market and have the highest growth potential over the forecast period.
The key technologies used in the smart greenhouse market are HVAC, LED grow lights, communications technology, irrigation systems, materials handling, valves and pumps, and control systems. The LED grow light segment dominated the market in 2016, used as an artificial light source to stimulate plant growth.
Europe is expected to remain the market leader over the forecast period and accounted for significant share of the global market revenue in 2016. The rapid adoption of technology in emerging economies of Japan, China, and India is expected to drive the smart greenhouse market in Asia Pacific. Asia Pacific is expected to become the most attractive segment due to rapid infrastructure development in countries such as India coupled with a high population.
Key industry participants include; Rough Brothers, Inc., Heliospectra AB, Terrasphere Systems, LLC, Argus Control Systems Ltd., LumiGrow Inc., Ceres Greenhouse Solutions, Hort Americas, JFE Engineering Corporation, Nexus Corporation, Logiqs B.V., Certhon, and GreenTech Agro LLC.
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