Smart Greenhouse Market Size (2024 - 2029)

The market size of the Smart Greenhouse industry is expected to grow significantly due to advancements in smart farming technology, with a particular emphasis on integrating the Internet of Things (IoT) and artificial intelligence (AI) into greenhouse operations. These technological advancements can enhance crop yields, reduce waste, and increase resource efficiency. Despite the potential benefits, the high initial investment and maintenance costs associated with these technologies could hinder market growth. However, the increasing demand for sustainable agricultural solutions presents a promising business opportunity. The recent COVID-19 outbreak disrupted the global supply chain, affecting the availability of smart greenhouse technologies, but the growing demand for healthy food has significantly promoted market growth.

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Market Size of Smart Greenhouse Industry

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Smart Greenhouse Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 2.05 Billion
Market Size (2029) USD 3.40 Billion
CAGR (2024 - 2029) 10.59 %
Fastest Growing Market Asia Pacific
Largest Market Europe

Major Players

Smart Greenhouse Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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.

Smart Greenhouse Industry Segmentation

The smart greenhouse market is defined by the revenue accrued by different types of smart greenhouses globally from various end users.

The smart greenhouse market is segmented by type (hydroponic, non-hydroponic), by technology (LED grow lights, HVAC, material handling, control systems, sensors and cameras, valves and pumps, irrigation systems), by geography (North America [United States and Canada], Europe [Germany, United Kingdom, France, and rest of Europe], Asia-Pacific [India, China, Japan, and the rest of Asia-Pacific], Latin America, and the Middle East & Africa). The report offers the market size in value terms in USD for all the abovementioned segments.

By Type
Hydroponic
Non-hydroponic
By Technology
LED Grow Light
HVAC
Material Handling
Control Systems
Sensors and Cameras
Valves and Pumps
Irrigation Systems
By Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
Latin America
Middle East & Africa

Smart Greenhouse Market Size Summary

The Smart Greenhouse Market is experiencing significant growth, with a rising trend of adopting advanced technologies such as IoT and AI in the agricultural sector. Smart greenhouses, equipped with sensors and communications technology, collect and analyze environmental and crop data around the clock. This data is used to control HVAC and lighting operations, irrigation, and spraying operations on demand, and to create predictive models for crop disease and infection risks. The market, however, faces challenges such as integrating technologies from different companies and disruptions due to the global COVID-19 pandemic. The Asia-Pacific region is expected to witness significant growth in the smart greenhouse market, with countries like India, Japan, and Australia driving this trend. Factors such as a growing population, changing diets, and extreme weather conditions are driving the demand for modern farming techniques, including smart greenhouses. The industry is fragmented, with various companies competing regionally to gain market share. Vendors are expected to compete intensely for large-scale projects, but smaller vendors are expected to hold prominence over the market in the local space.

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Smart Greenhouse Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain/Supply Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Impact of COVID-19 Aftereffects and other Macroeconomic Factors on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Hydroponic

      2. 2.1.2 Non-hydroponic

    2. 2.2 By Technology

      1. 2.2.1 LED Grow Light

      2. 2.2.2 HVAC

      3. 2.2.3 Material Handling

      4. 2.2.4 Control Systems

      5. 2.2.5 Sensors and Cameras

      6. 2.2.6 Valves and Pumps

      7. 2.2.7 Irrigation Systems

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 Rest of Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East & Africa

Smart Greenhouse Market Size FAQs

The Smart Greenhouse Market size is expected to reach USD 2.05 billion in 2024 and grow at a CAGR of 10.59% to reach USD 3.40 billion by 2029.

In 2024, the Smart Greenhouse Market size is expected to reach USD 2.05 billion.

Smart Greenhouse Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)