Smart Greenhouse Market Size

Smart Greenhouse Market Analysis

The Smart Greenhouse Market size is estimated at USD 2.05 billion in 2024, and is expected to reach USD 3.40 billion by 2029, growing at a CAGR of 10.59% during the forecast period (2024-2029).

Smart farming technology has advanced significantly. Technology has completely changed the farming sector, from introducing irrigation systems to developing tools for precision agriculture. These days, the emphasis is on incorporating the Internet of Things (IoT) and artificial intelligence (AI) into greenhouse operations. Greenhouse and controlled environment agriculture operations can boost crop yields, reduce waste, and enhance resource efficiency by utilizing AI and IoT.

• With the integration of AI technology, farmers or agriculturists can improve their workflows, boost productivity, optimize their supply chains, and boost profit margins while reducing waste and conserving resources. AI enables farmers to choose crops more easily and assess market demand, enabling them to determine which produce will yield the highest returns.
• In smart irrigation, artificial intelligence (AI) is truly revolutionary because it transforms how farmers maintain lush landscapes and manage water resources. Artificial intelligence (AI)--based smart irrigation systems offer growers sustainable solutions to meet the growing demand for water conservation while yielding higher yields.
• In April 2023, Housedigy Inc., a high-tech startup, unveiled GeoDrops, a cutting-edge intelligent irrigation control system, today. With the help of cutting-edge artificial intelligence (AI) and industry-leading sensor arrays, GeoDrops can save up to 70% of water used for outdoor irrigation while also creating a garden that looks better.
• The smart greenhouse design may provide many benefits to the cultivator, but the large investment required due to the deployment of pricey technology limits market expansion. There is a global expansion in vertical farming technology, an energy-intensive crop cultivation system combining several technologies, such as big data analysis, robotics, the IoT, and AI. Hence, the high initial investment and maintenance expenses are anticipated to hinder the growth of the smart greenhouse market.
• However, the projected growth and the increasing demand for sustainable agricultural solutions present a promising business opportunity for entrepreneurs aiming to revolutionize the agriculture industry.
• Due to the outbreak of COVID-19, the global supply chain and demand for multiple products have majorly been disrupted, due to which sensors, valves, HVDC systems, control systems, LED lights, and other smart greenhouse technologies halted for a short period of time. However, the growing demand for healthy food by consumers has significantly promoted market growth.