Smart Greenhouse Market: By Type (Hydroponic and Non-hydroponic), By Technology (HVAC, LED Grow Light, Irrigation System, Material Handling, Valves and Pumps, Control System, and Sensor & Camera) and By Geography

Smart Greenhouse Market size was valued at 1.53 Billion in 2022 and is estimated to reach 2.83 Billion by 2029, growing at a CAGR of 9.2% during the forecast period 2023 to 2029 owing to rising demand for food due to enormously growing population and trends of indoor farming due changing consumer preferences are the major factors driving the growth of the market. Moreover, Favorable government regulations and incentives pertaining to smart greenhouse lighting enhances the growth of the market. However, High cost of greenhouses hinders the growth of the market. A smart greenhouse is a type of greenhouse that grows plants without the need for human intervention. Crops grow in a smart greenhouse without adjusting the climate or any human intervention for a set length of time. Smart Greenhouse Market use a variety of microprocessors and sensors to control the temperature and watering system, among other things. The main goal of a smart greenhouse is to increase farmer productivity and create better farming results. The market is expected to develop as organic food becomes more popular around the world and farmers and agriculturists utilise IoT and artificial intelligence. Furthermore, market expansion is fueled by the simplicity of crop monitoring and harvesting. However, the market's growth is hampered by high investment costs due to the deployment of pricey technology in smart greenhouses. During the projection period, the hydroponics segment is expected to gain a large share. The capacity of hydroponics smart greenhouses to generate nutritious eatables while consuming less space is one of the primary factors driving the growth of smart greenhouses in this area. However, due to its environmentally friendly nature and the spike in adoption of non-hydroponics greenhouse by various important firms, the non-hydroponics category is predicted to develop at the fastest rate throughout the projection period. This fuels the expansion of the smart greenhouse market in this sector.