Major industry players in smart greenhouse market comprise Heliospectra AB, Rough Brothers, Inc., Argus Control Systems Ltd., Terrasphere Systems, LLC, Ceres Greenhouse Solutions, LumiGrow Inc., JFE Engineering Corporation, Hort Americas, Logiqs B.V., Nexus Corporation, GreenTech Agro LLC, and Certhon among others. These players are claimed to boost the smart greenhouse market in the years to come.
According to the analysts at Zion Market Research, the global smart greenhouse market was capitalized at almost USD 680.3 Million in 2016 and is likely to cross almost USD 1.31 Billion by end of 2022, increasing at a CAGR of almost 14.12% from 2017 to 2022.
Rising Government Initiatives To Boost The Global Smart Greenhouse Market
“Smart greenhouse market is likely to see noteworthy development owing to programs that were undertaken by the government due to increasing population,” according to the analysts at Zion Market Research. Smart farming is likely to grow at an astounding development rate, boosting the smart greenhouse market. Altering atmosphere impacts the agriculture sector, which at the same time impacts the economy of many countries and food & beverage sector. Hence, smart greenhouse offers new avenues for the agriculture sector. This augments the development of smart greenhouse market. Evolving technological preferences in developing nations owing to urbanization is also likely to have a positive effect on smart greenhouse market. High initial investment and high installation costs of the automation system might prohibit the development of smart greenhouse market in non-developed nations such as the Middle East & Africa at a certain level.
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On the other hand, developed nations such as North America and Europe have begun accepting of this method to deal with the issue of rising population. In addition, rising R&D activities will also have a major role in the development of smart greenhouse market. For example, in November 2017, the first crops of cucumbers and tomatoes grown within electricity-creating solar greenhouses were as good as those grown in traditional greenhouses. This indicated that smart greenhouses have huge potential for renewable electricity production and dual-use farming, boosting the smart greenhouses market.
Rapid Development Of Infrastructure To Boost Smart Greenhouse Market In Asia Pacific
Europe is likely to stay the leader in the smart greenhouse market in the years to come and added up for noteworthy share of the global smart greenhouse market income in 2016. This was due to the fast acceptance of smart greenhouse technology. The rapid acceptance of technology in up-and-coming nations of China, Japan, and India is likely to boost the smart greenhouse market in Asia Pacific. The Asia Pacific region is likely to be the most attractive sector of the smart greenhouse market in the coming years due to rapid development of infrastructure in nations such as India paired with a high population in the area.