Smart Greenhouse Market – Growth, Trends, COVID-19 Impact and Forecast (2022)

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The Global Smart Greenhouse Market (hereafter referred to as the market research) is valued at USD 1,607. $87 million in 2021 and is expected to reach $2,922. It will reach 75 million by 2027, with a compound annual growth rate of 10.

NEW YORK, June 1, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Smart Greenhouse Market – Growth, Trends, COVID-19 Impact and Forecast (2022 – 2027)” — https://www.reportlinker.com/p06249282/?utm_source=GNW
The period 2022-2027 (hereinafter referred to as the forecast period) is 23%.

Key Highlights
In this day and age, agricultural growth is considered to be one of the core components that can directly affect a country’s economic growth, as it provides a source of income through the production of food and raw materials, and thus is seen as a major source of imports and exports. It also creates jobs on a larger scale and helps countries capitalize on the transition of their economies from traditional to advanced economies, thereby boosting market growth.
Smart greenhouses equipped with current sensor and communication technologies can automatically record and disseminate information about the environment and crops 24/7. Data is collected and fed into IoT platforms, where analytics algorithms turn it into actionable insights to identify bottlenecks and irregularities. As a result, HVAC and lighting operations, as well as irrigation and spraying operations, can be controlled on demand. Continuous data monitoring helps create predictive models to estimate crop disease and infection risk.
Farmers can use IoT sensors to collect various data points in unprecedented detail. They provide real-time data on key climate factors such as temperature, humidity, light and carbon dioxide across the greenhouse. This information leads to appropriate changes to HVAC and lighting settings to maintain ideal conditions for plant development while improving energy economy. At the same time, motion/acceleration sensors help detect inadvertently opened doors, ensuring tight control of the environment.
HVAC, material logistics, sensors and LED grow lights are all part of smart greenhouse technology. It can be difficult to integrate all technologies in a greenhouse as different companies provide different functions for a regulated environment. Therefore, to create a smart greenhouse, companies must collaborate and provide a regulated environment to produce optimal yields. This is a major challenge for the expansion of the smart greenhouse market.
The smart greenhouse market has been affected in terms of production, distribution, and demand uncertainty due to the global COVID-19 pandemic. As import and export restrictions related to COVID-19 disrupt supply chains, suppliers aim to facilitate smart farm exports. For example, in the Middle East in December 2021, South Korea is building a smart farm with technology that will allow it to grow a variety of crops with as little water as possible. The government aims to facilitate the export of smart farms to the region based on technology and price competitiveness.

Key Market Trends

Farmers and agriculturists are increasingly adopting IoT and AI

Smart greenhouses equipped with current sensor and communication technologies can automatically record and disseminate information about the environment and crops 24/7. Data is collected and fed into IoT platforms, where analytics algorithms turn it into actionable insights to identify bottlenecks and irregularities. As a result, HVAC and lighting operations, as well as irrigation and spraying operations, can be controlled on demand. Continuous data monitoring helps create predictive models to estimate crop disease and infection risk.
Farmers can use IoT sensors to collect various data points in unprecedented detail. They provide real-time data on key climate factors such as temperature, humidity, light and carbon dioxide throughout the greenhouse. This information leads to appropriate changes to HVAC and lighting settings to maintain ideal conditions for plant development while improving energy economy. At the same time, motion/acceleration sensors help detect inadvertently opened doors, ensuring tight control of the environment.
Greenhouses where high-value crops are grown are viable targets for hackers. Many farmers do not have effective security systems because of the high cost of setting up a standard surveillance network with CCTV. IoT sensors in smart greenhouses provide a cost-effective infrastructure for monitoring the status of doors and detecting suspicious activity in such situations. When connected to an automatic alert system, they can instantly alert farmers if there is a security risk.
Additionally, in November 2021, the Department of Science and Technology (DOST) announced an investment of PHP 2.49 million to build a smart greenhouse system at the Payatas Controlled Disposal Facility (PCDF). To implement the project, DOST-National Capital Region signed a memorandum of understanding with the University of Science and Technology of the Philippines. The project aims to create a smart greenhouse system by incorporating new technologies into various components, such as a smart aquaponics system using the Internet of Things (IoT), which will create an IoT-based integrated sensor module for monitoring smart aquaponics Symbiotic system parameters.
AI investments witness the market. In September 2021, MetoMotion, a company creating advanced intelligent robotic systems to assist farmers with their farm operations, raised $5 million in funding. Navus Ventures, the family investment office of well-known greenhouse technology businesses Ridder and Lely, sponsored the financing. In this round, Sirius VC also participated. MetoMotion’s GRoW robot brings advanced technology into the greenhouse, utilizing the latest artificial intelligence-based computers for 3D perception. The robot’s unique shape matches the current greenhouse environment thanks to purpose-built flexible motion control and path planning algorithms.
Hence, all the factors mentioned above are expected to influence the demand for IoT and AI adoption by farmers and agronomists during the forecast period.

Asia Pacific to witness significant market growth

The agricultural sector has been the backbone of the Indian economy for as long as it employed about 60% of the country’s workforce.
Aware of the huge market in this agriculture-based country, India has made huge profits while exporting large quantities of food to the world. According to government data, India’s agricultural and processed food exports grew by more than 13% in dollar terms in the April-November 2021-22 fiscal year compared to the same period a year earlier.
However, India’s agricultural sector is still largely climate-based, with limited technological penetration. The growing population and changing diets have put enormous pressure on the land of India. As soil degradation increases, crop yields level off, water scarcity increases, natural disasters become more frequent and biodiversity declines, farmers are struggling to keep up.
China is known as the most populous country in the world, with a population of more than 1.4 billion by 2021. Agriculture has long been one of the main pillars of the Chinese economy. In addition to serving the local population, China’s agricultural sector also serves various international markets.
Considering the importance of the agricultural sector in its vision of becoming a self-reliant nation. For decades, the Chinese government has been pushing to modernize agriculture. This can be seen from the fact that the Party Central Committee and the State Council have made agriculture the focus of the No. 1 Central Document for 13 consecutive years.
Japan’s agricultural sector contributes about 1% of the country’s GDP (1.007% in 2019, according to the World Bank), as a large part of the country’s food needs are met through imports. The main factors behind this are scarcity of arable land and unfavorable climatic conditions. In addition, the number of people working in agriculture has also dropped significantly.
The rest of the Asia Pacific study includes countries such as Australia, New Zealand, Thailand, Singapore, Malaysia, Indonesia, and others.
Australia’s agricultural sector is an important contributor to the country’s economy. According to the Australian government, Australian agriculture accounts for 55% of land use and 24% of water extraction. In 2020-21, the industry accounted for 12% of exports of goods and services, adding 1.9% of the value to GDP.

Competitive Landscape

The smart greenhouse market is fragmented, and companies compete on a regional basis for market share. Vendors in the market are expected to compete fiercely for large-scale projects, but in the local segment, smaller vendors are expected to dominate the market. Major vendors offering integrated products are expected to have a higher share of the adoption of their solutions due to their presence distribution in the value chain and ability to reduce risk.

January 2022 – BFG Supply has surpassed International Greenhouse Co. Greenhouse Megastore, a distributor of commercial and hobby greenhouse structures and related products. The acquisition of GMS will expand BFG’s greenhouse capabilities and product selection, further enhancing service to customers in the horticultural market.
July 2021 – MineARC Systems, a manufacturer and supplier of controlled environments for biotechnology and agricultural applications, has entered into a distributor partnership with Heliospectra. In the Australian market, the company will represent Heliospectra’s market-leading LED lighting and light control systems for controlled environment agriculture.

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Market Estimate (ME) table in Excel format
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