Early Impacts of COVID-19 on Smart Greenhouse Market - Exclusive Report by MarketsandMarkets™

CHICAGO, April 15, 2020 /PRNewswire/ -- The ongoing COVID-19 pandemic—and the worldwide reaction to it - has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Smart Greenhouse Market. We are working diligently to help companies take rapid decisions by studying:

• The impact of COVID-19 on the Smart Greenhouse Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Smart Greenhouse Market
• The shifting short-term priorities of the top 50 companies' clients and their client's clients

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According to the recent report  "Smart Greenhouse Market by Type (Hydroponics and Non-Hydroponics), Covering Material Type (Polyethylene, Polycarbonate, and Others), Offering (Hardware and Software & Services), Component, Cultivation, End User, Region - Global Forecast to 2025", published by MarketsandMarkets™, the Smart Greenhouse Market is projected to reach USD 2.1 billion by 2025 from USD 1.4 billion in 2020; it is expected to grow at a CAGR of 9.2% during the forecast period. Major drivers for the growth of the market are increasing adoption of Internet of Things (IoT) and artificial intelligence (AI) by farmers and agriculturists; growing demand for food owing to continuously increasing global population; surging adoption of indoor farming in urban areas; and rising number of government initiatives to promote the adoption of smart agricultural practices. Moreover, rising global adoption of vertical farming technology and emerging trend of rooftop farming in urban areas act as growth opportunities for developers of smart greenhouses.

Browse in-depth TOC on "Smart Greenhouse Market"

60  – Tables

34 – Figures  

120 – Pages

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The hydroponics type segment of the smart greenhouse market projected to grow at a high CAGR during the forecast period.

Hydroponics-based smart greenhouses enable soilless agricultural practices to reduce the consumption of resources, thereby enabling this farming technique to be adopted by a large number of stakeholders, ranging from home gardeners to professional growers and supermarkets to restaurants. According to the UN reports on the global population, plants grown in hydroponics-based smart greenhouses have achieved a 20–25% higher yields than the traditional agricultural practices. Moreover, controlled-environment conditions in smart greenhouses based on hydroponics, lead to the balanced effect of climatic changes on crop growth, thereby not affecting the annual crop production.

Among covering material types, the polyethylene segment projected to hold the largest share of the smart greenhouse market during the forecast period.

Polyethylene is the most commonly used greenhouse film or covering material used in smart greenhouses. It is a smooth plastic, which is placed on the roof of greenhouses to protect plants from external factors. Polyethylene films are manufactured by coextruding three layers of films with different polymers and additives. Each layer contributes to the quality of films and enhances their performance. Moreover, polyethylene is a low-cost and easily accessible material, which also contributes to its increased adoption in smart greenhouses. Roofs of smart greenhouses made of polyethylene can be easily repaired several times within a span of 1–4 years.

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The smart greenhouse market in APAC projected to grow at the highest CAGR during the forecast period.

The smart greenhouse market in APAC is projected to grow at the highest CAGR during the forecast period. The growth of the market in APAC can be attributed to the continuously increasing population of the region, thereby leading to rising demand for food. This has led to an increase in the adoption of advanced technologies such as smart greenhouses to enable the supply of fresh fruits and vegetables throughout the year. The growers in China have also introduced advanced growing techniques such as controlled-environment agriculture (CEA) and hydroponics to increase their yields. Moreover, high pressure to improve agricultural yields with limited available resources and increased requirements to protect crops from unexpected climatic changes are also expected to increase the adoption of smart greenhouses in APAC during the forecast period.

Nexus Corporation (Nexus, US), Argus Control Systems Limited (Argus Controls, Canada), Certhon (Certhon, Netherlands), Rough Brothers, Inc. (Rough Brothers, US), GreenTech Agro LLC (GreenTech Agro, US), Netafim (Netafim, Israel), Sensaphone (Sensaphone, US), Cultivar Ltd. (Cultivar, UK), Heliospectra AB (Heliospectra, Sweden), and LumiGrow (LumiGrow, US) are a few major players in the smart greenhouse market.

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