Market Size of Smart Greenhouse Industry
| 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
*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.
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 | ||||||
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| Latin America | ||||||
| Middle East & Africa |
Smart Greenhouse Market Size Summary
The smart greenhouse market is experiencing significant growth, driven by advancements in smart farming technologies that integrate the Internet of Things (IoT) and artificial intelligence (AI) into agricultural practices. These technologies enhance crop yields, reduce waste, and improve resource efficiency, making them increasingly popular among farmers and agriculturists. Smart greenhouses leverage AI for smart irrigation and crop selection, optimizing supply chains and boosting profit margins while conserving resources. Despite the high initial investment and maintenance costs associated with deploying such technologies, the demand for sustainable agricultural solutions presents promising opportunities for market expansion. The market is characterized by a mix of global players and small to medium-sized enterprises, with companies like Heliospectra AB, Prospiant Inc., and Kubo Greenhouse Projects BV leading the charge through strategic partnerships and acquisitions.
The role of HVAC systems in smart greenhouses is crucial for maintaining optimal growing conditions year-round, with a focus on energy efficiency to address climate change concerns. The integration of AI in HVAC systems allows for real-time adjustments of temperature, humidity, and CO2 levels, enhancing energy efficiency and crop yields. Advanced technologies such as machine learning and predictive maintenance further optimize these systems. The market is also witnessing a rise in automation systems that regulate environmental conditions, enabling precise control over factors like ventilation and irrigation. Regions like India, China, and Japan are adopting smart greenhouse technologies to enhance food security, improve productivity, and address labor shortages. The market's growth is supported by innovative solutions and strategic developments, such as the establishment of large-scale facilities and partnerships aimed at sustainable and high-quality agricultural production.
Smart Greenhouse Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain/Supply Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitutes
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1.3.5 Intensity of Competitive Rivalry
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1.4 Impact of COVID-19 Aftereffects and other Macroeconomic Factors on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Hydroponic
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2.1.2 Non-hydroponic
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2.2 By Technology
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2.2.1 LED Grow Light
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2.2.2 HVAC
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2.2.3 Material Handling
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2.2.4 Control Systems
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2.2.5 Sensors and Cameras
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2.2.6 Valves and Pumps
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2.2.7 Irrigation Systems
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.5 Middle East & Africa
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Smart Greenhouse Market Size FAQs
How big is the Smart Greenhouse Market?
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.
What is the current Smart Greenhouse Market size?
In 2024, the Smart Greenhouse Market size is expected to reach USD 2.05 billion.
