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Technavio’s market research analyst predicts the global smart greenhouse market to grow at an impressive CAGR of approximately 17% by 2020. Smart greenhouses use artificial intelligence devices, sensors, and control devices that facilitate irrigation, automation, and control of the environment. The use of such devices increases the efficiency and output of floating and solar powered greenhouses. This increased efficiency and output of smart greenhouses is a critical factor that foster its adoption during the predicted period.
In terms of geography, the EMEA region will account for the largest share of the market during the forecast period. The recent increase in the use of smart greenhouse technologies across various regions like Spain, the Netherlands, and Italy will result in the growth of this market in EMEA during the forecast period. Since the European greenhouse sector is one of the most energy-intensive sectors in agriculture, vendors from across the globe will invest in smart monitoring and controlling devices. This increase in investments by vendors will result in the strong growth of this market in EMEA during the predicted period.
In this market research, analysts have estimated the lighting segment to be the largest market segment during the forecast period. This segment currently accounts for more than 26% of the total market share and is predicted to further enhance its hold over the market by 2020 owing to the augmented focus on energy-efficient lighting systems among the end users. Furthermore, factors like the increasing government support and the entry of multiple competitors will spur growth in this market segment during the forecast period.
Technavio market research analysts have estimated the non-hydroponic market segment to account for more than 67% of the total market share by 2020. The rising demand for improved productivity and efficiency in power and water consumption has led to the use of smart technologies in indoor farming. Smart devices and sensors placed in the soil help to detect the moisture content of the soil and the level of humidity in the air, which in turn results in better irrigation.
The global smart greenhouse market is fragmented due to the presence of numerous established local and multinational vendors. In several regions, the local or regional vendors dominate the market, which in turn will bolster the level of competition in the next four years.
Key vendors in the market are -
Other prominent vendors in the market include Netafim, Logiqs, Hort Americas, Terrasphere Systems, and Certhon.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by technology
PART 08: Geographical segmentation
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Key vendor analysis
PART 17: Appendix
PART 18: Explore Technavio
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