Zion Market Research has published a new report titled “Smart Greenhouse Market (Hydroponic, Non-hydroponic) by Technology (HVAC, LED Grow Light, Communication Technology, Irrigation System, Material Handling, Valves & Pumps, Control System, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, the global smart greenhouse market was valued at approximately USD 680.3 million in 2016 and is expected to reach approximately USD 1.31 Billion by 2022, growing at a CAGR of around 14.12% between 2017 and 2022.
The smart greenhouse is a revolution in agriculture and is a self-regulating, climate controlling which is suitable for plant growth. It is possible to control microclimate environment (climate in the restricted area) using sensors and different applications. The smart greenhouse is consists of different components such as sensors, actuators, monitoring system, control system. The concept of smart greenhouse aims to optimize growth conditions for plants and automate the growing process.
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Based on type segment, the global smart greenhouse market has been segmented into hydroponic and non-hydroponic. Hydroponic greenhouse deals with the method of growing plants without soil. Presently, non-hydroponic smart greenhouse-dominated the global smart greenhouse market. Furthermore, the hydroponic smart greenhouse type has the highest growth perspective over the forecast period.
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HVAC, LED grow light, communication technology, irrigation system, material handling, valves & pumps, control system, and others are the key technologies covered under the smart greenhouse market. LED grow light segment dominated the smart greenhouse market in 2016 in terms of as it can be used as an artificial light source to stimulate plant growth.
Europe is expected to remain the market leader over the forecast period and accounted for significant share of the global market revenue in 2016 due to the fast adoption of smart greenhouse technology. The rapid adoption of technology in emerging economies of Japan, China, and India is expected to drive the smart greenhouse market in Asia Pacific. Asia Pacific is expected to be the most attractive segment of the market over the years owing to rapid infrastructural development in countries like India coupled with a high population in the region.
Key industry participants include Rough Brothers, Inc., Heliospectra AB, Terrasphere Systems, LLC, Argus Control Systems Ltd., LumiGrow Inc., Ceres Greenhouse Solutions, Hort Americas, JFE Engineering Corporation, Nexus Corporation, Logiqs B.V., Certhon, and GreenTech Agro LLC.
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This report segments the global smart greenhouse market as follows:
Global Smart Greenhouse Market: Type Segment Analysis
Global Smart Greenhouse Market: Technology Segment Analysis
- LED Grow Light
- Communication Technology
- Irrigation System
- Material Handling
- Valves & Pumps
- Control System
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We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
- Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
- Helps in validating and strengthening the secondary research findings
- Further, develops the analysis team’s expertise and market understanding
- Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies
Participants who typically participate in such a process include, but are not limited to:
- Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
- Purchasing managers, technical personnel, distributors and resellers
- Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets
Key opinion leaders specializing in different areas corresponding to different industry verticals
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Secondary research sources that are typically referred to include, but are not limited to:
- Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
- IDC and other relevant magazines
- Internal and external proprietary databases, and relevant patent and regulatory databases
- National government documents, statistical databases and market reports
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Smart Greenhouse market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
- Demographic data: Population split by segments
- Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
- Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
- Data is then cross-checked by an expert panel.
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