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Smart greenhouse is the transformation in the field of agriculture, by constructing self-regulated microclimate environment for cultivation of various plants according to their suitable conditions. It is achieved through indoor farming by using sensors, monitoring and controlling systems which helps in optimization and automation of the growing process.
Smart greenhouses, are equipped with cutting-edge sensor and communications technology, that automatically records and transmit data about their surroundings and crops 24 hours a day, seven days a week. Data is collected and sent into an IoT platform, where analytical algorithms transform it into actionable intelligence in order to detect bottlenecks and irregularities. A smart greenhouse allows farmers to reduce labor costs, increase resource and chemical efficiency, and increase output rates by accessing huge crop insights.
As organic food is gaining popularity across the globe along with the increasing adoption of technology among the farmers, the IoT and AI based technologies used in agriculture is expected to grow and drive the market.
Key Market Driver -
• Rapidly increasing popularity of IoT and artificial intelligence among farmers and agriculturists could drive the market growth. • Increasing need to maintain optimal microclimate along with improved irrigation and fertilization.
Key Market Restraint -
• High investment costs due to the deployment of costly technology in smart greenhouse along with internet connectivity. • Requirement of excessive care, constant monitoring and maintenance could be a restraining factor.
Some of the major players among the others in the greenhouse market are Nexus Corporation, Argus Control Systems Limited, Certhon, Rough Brothers, Inc., GreenTech Agro LLC, Netafim, Sensaphone, Cultivar Ltd., Heliospectra AB, and LumiGrow. Where these companies are focusing on to improve the efficiency of the yielding along with minimizing the utilization of resources such as labor. They are also working and investing huge amounts on R&D to detect and prevent infection and diseases in crops. For instance, LumiGrow in partnership with Scanit Technologies has launched early disease detection LumiGrow SporeCam sensors through which farmers will be able to inspect and detect diseases such as Powdery Mildew and Botrytis. This will help farmers to optimize, take preventive actions and provide required treatment to the crops which will to minimize the yield loss.
Asia Pacific is expected to grow at the highest CAGR during the forecasted period of 2021-2028 owing to the increasing population in region like India and China would increase the demand of fresh food. The resources are limited and region is rapidly going under urbanization. To satisfy the demand growers would have to adopt the smart technologies to fulfil the demand, which could be the key factor to drive the growth of smart greenhouse market.
Europe is expected to hold the utmost share of the smart greenhouse market in the forecasted period. The agriculture industry in the region is a highly professional and technologically advanced. Europe is one of the world's strongest economies and a diverse range of industries, resulting in enhanced capital investment capacities. Similarly, North America is expected to grow its smart greenhouse market size during the forecasted period owing to the domination of the region in overall smart agriculture industry.
Africa is expected to grow steadily during the forecasted period owing the region is entering into new revolution of adopting the smart greenhouse technology to improve the quality and productivity of the crops. The restraint in this region would be the expensive setup cost of the technology which would hamper the growth. Middle east is in the initial stage of implementing along with introducing policies and regulations for smart greenhouse solutions as organizations such as Pure Harvest Smart Farms is investing and conduction pilot studies to grow fruits and vegetables in dessert.
South America is implementing artificial intelligence-based predictive analytics software. Data management, data security, crop health monitoring, agricultural work mapping, and inventory management are all services that the software can perform. Which could be the driving factor adoption of smart greenhouses and cloud drive the market growth in the region.
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