Dublin, Dec. 11, 2023 (GLOBE NEWSWIRE) — The “Smart Greenhouse – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Smart Greenhouse Market to Reach $3.6 Billion by 2030
The global market for Smart Greenhouse estimated at US$1.7 Billion in the year 2022, is projected to reach a revised size of US$3.6 Billion by 2030, growing at a CAGR of 9.5% over the analysis period 2022-2030. Hardware, one of the segments analyzed in the report, is projected to record 9% CAGR and reach US$2.9 Billion by the end of the analysis period. Growth in the Software & Services segment is estimated at 12% CAGR for the next 8-year period.
The U.S. Market is Estimated at $403.6 Million, While China is Forecast to Grow at 11% CAGR
The Smart Greenhouse market in the U.S. is estimated at US$403.6 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$363 Million by the year 2030 trailing a CAGR of 11% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 9.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.3% CAGR.
Select Competitors (Total 206 Featured)
- Agrify Corporation
- Aerofarms LLC
- Agra Tech, Inc.
- Agri Plast Tech India Pvt., Ltd.
- Agrilution GmbH
- American Hydroponics
- 4D Bios Inc.
- AEssense Grows
- Agrinamics Corporation
- Alesca Life Technologies Limited
- Babylon Micro-Farms Inc.
- AFFINOR Growers
- Angel Energy LLC
- Agritecture
- Agrowtek
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 545 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $1.7 Billion |
| Forecasted Market Value (USD) by 2030 | $3.6 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- AgTech Emerges as New Buzzword in Agricultural Industry
- Myriad Benefits of Smart Greenhouses to Propel Market Gains
- Growing Adoption of IoT Presents Vast Opportunities for the Smart Greenhouse Market
- Growing Adoption of IoT in Agriculture Presents Growth Opportunities for Smart Greenhouse Market: Global Agricultural IoT Market (In US$ Billion) for the Years 2020, 2023 & 2026
- Developments in Artificial Intelligence (AI) Encourage Growth in Greenhouse Industry
- Artificial Intelligence (AI) in Agriculture Worldwide (In US$ Million) for the Years 2020, 2023 and 2026
- Surging Demand for Food from World’s Expanding Population Spurs Adoption of Advanced Farming Techniques, Driving Market Growth
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050 and 2100
- Food Demand Growth Worldwide: Demand Growth in Million Tonnes for Select Foods for the Period 2008-2017 and 2018-2027
- Climate Change Compounds Food Security Concerns
- Market Poised to Benefit from the Rising Consumption of Organic Foods & Resultant Rise in Organic Farmland
- Global Organic Foods and Beverages Market (in US$ Billion) by Geographic Region for 2020 and 2027
- Vertical Farming Technology’s Growing Popularity to Fuel Smart Greenhouse Market Growth
- Global Vertical Farming Market Size (in US$ Million) by Geographic Region for 2020 and 2027
- Vertical Farming Draws Particular Appeal amid COVID-19 Pandemic
- Rising Adoption of Indoor/Rooftop Farming in Urban Locations: Potential for Smart Greenhouses
- Global Availability of Arable Land in Hectares Per Person for the Years 1990, 2000, 2018 and 2020
- Arable Land Worldwide as a % of Total Land Area for the Years 1990, 2000, 2018 and 2020
- Smart Greenhouses Support the Transition towards Precision Farming
- HVAC and LED: Prominent Smart Greenhouse Technologies
- LED Grows Emerge as the Preferred Medium of Lighting in Smart Greenhouses
- High-Tech Greenhouses to be the Future of Agriculture
- Automated Greenhouse: The Ultimate Objective
- Students Develop a New Intelligent Greenhouse
- Challenges Facing Smart Greenhouse Market
MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- Year 2021 in Review and Near-term Outlook
- Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2021, 2022 and 2023
- The Pandemic Impacts Agricultural Industry Supply Chain
- COVID-19 Related Issues Impacting Agriculture Industry
- Agriculture Industry Accelerates Adoption of Advanced Technologies amid the Pandemic
- Small Farms Confront Considerable Challenges
- COVID-19 Pandemic Impact on the Smart Greenhouses Market
- Smart Agriculture Transforming Traditional Farming
- An Introduction to Smart Greenhouse
- Technologies Used in Smart Greenhouses
- Hydroponic and Non-Hydroponic Greenhouses
- Benefits of Smart Greenhouse System
- Global Market Prospects & Outlook
- Hydroponics Leads the Smart Greenhouses Market
- Europe: The Leading Regional Market
- Competition
- Smart Greenhouse – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- World Brands
- Recent Market Activity
For more information about this report visit https://www.researchandmarkets.com/r/bq7fkp
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