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

News provided by

Apr 15, 2020, 09:30 ET

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

You can request an in-depth analysis detailing the impact of COVID-19 on the Smart Greenhouse Market:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=63166169

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

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=63166169

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.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=63166169

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.

Browse Adjacent Markets: Semiconductor and Electronics Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]

Visit Our Web Site: https://www.marketsandmarkets.com

SOURCE MarketsandMarkets