The global smart greenhouse market is predicted to project a CAGR of 8.40% during the forecast period, 2021-2028. The increasing demand for organic food, the easy monitoring and harvesting of crops, and the rising adoption of AI and IoT by agriculturists, are evaluated to drive the market growth.
The global farming market is under increasing pressure, given the climate change, growing population, and diminishing resources. This has resulted in a shifting trend towards technologies to boost production efficiency. A smart greenhouse is one such technology. It brings together traditional agricultural systems and IoT technologies for complete automation and visibility. Further, the rising popularity of organic food is attributed to the increasing awareness regarding the source of food consumption. Organic foods are products obtained without the use of growth regulators, pesticides, and synthetic fertilizers. The sale of organic food in North America has surged in the past few years. Zero growth hormones, zero antibiotics, better environmental stability, less use of pesticides, enhanced freshness level, and nutrient richness, are the benefits offered by organic food, which is increasing its popularity. Such factors are set to drive the overall growth of the global smart greenhouse market. However, the lack of technical professionals and government regulations hinders the market growth.
The geographical segmentation of the global smart greenhouse market includes the analysis of Europe, Asia Pacific, North America, and Rest of World. Europe dominated the global market in 2020. The favorable government regulations and the increasing adoption of advanced technologies like machine learning and IoT in farming are contributing to the growth aspects of the region.
The increasing competitive rivalry is accredited to the existence of several largescale vendors and startups. Heliospectra AB, Greentech Agro LLC, Cultivar Ltd, Certhon, Argus Control Systems Limited, etc., are among the key players in the market.
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