Smart Greenhouse Market Size, Share, Growth Analysis, By Type(Hydroponic, Non-Hydroponic), By Component(LED Grow Lights, HVAC Systems, Irrigation Systems, Controlling Systems), By End-User(Commercial Growers, Research & Educational Institutes, Retail Gardens, Others), By Region - Industry Forecast 2024-2031

Smart Greenhouse Market size was valued at USD 1607.87 million in 2019 and is poised to grow from USD 1772.36 million in 2023 to USD 4258.43 million by 2031, growing at a CAGR of 10.23% in the forecast period (2024-2031).

Smart greenhouse greenhouse employs automated crop cultivation. Wherein, crops can grow for a specific amount of time without any climatic modification or human intervention. Smart greenhouses use a variety of microprocessors and sensors to carry out tasks including managing the irrigation system and temperature. The main goal of the smart greenhouse is to increase farmer productivity and yield better agricultural results.

Smart greenhouse market is expanding as a result of the rising demand for organic food around the world and the rapid uptake of IoT and AI by farmers and agriculturists. The market's expansion is also fueled by how simple it is to monitor and harvest crops. However, the expansion is hampered by high investment costs brought on by the usage of pricey technology in smart greenhouses. On the other hand, it is anticipated that growing public-private partnerships in the agriculture sector and increased usage of vertical farming technologies would offer attractive potential for market expansion.

A smart greenhouse transforms agriculture by creating a self-regulating microclimate environment for the development of a variety of plants in accordance with their ideal circumstances. It is accomplished through indoor farming, which helps to optimise and automate the growth process by using sensors, monitoring, and control systems. As per Planning and Statistics Authority of Qatar, the output of the most popular vegetables in the nation in greenhouses and open fields went from 31.573 tonnes in 2023 to 66.500 tonnes in 2019, a rise of around 110 %.

Modern sensor and communications technology is installed in smart greenhouses, which automatically collect and communicate data about their surroundings and crops seven days a week. To find bottlenecks and abnormalities, data is gathered and transferred into an IoT platform, where analytical algorithms turn it into usable intelligence. By obtaining extensive crop information, a smart greenhouse enables farmers to save labour costs, boost resource and chemical efficiency, and raise output rates. The market for IoT and AI-based agricultural solutions is anticipated to expand as demand for organic food rises around the world and farmers adopt technology at an increasing rate.

US Smart Greenhouse Market is poised to grow at a sustainable CAGR for the next forecast year.