DALLAS, July 20, 2015 /PRNewswire/ --
According to a new market research report "Smart Greenhouse Market by Technology (HVAC, LED Grow Light, Communication Technology, Irrigation System, Material Handling, Valves & Pumps, Control System, and Others), Type (Hydroponic, Non-hydroponic), and Geography - Forecast to 2020", published by MarketsandMarkets, the Smart Greenhouse Market is expected to increase to more than USD 1.2 Billion by 2020, growing at a CAGR of 14.18% between 2015 and 2020.
Browse 40 market data Tables and 44 Figures spread through 99 Pages and in-depth TOC on "Smart Greenhouse Market".
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The smart greenhouse is expected to witness high growth in technologies such as LED grow light. LED grow lights are used for indoor farming due to increasing awareness about its benefits such as energy efficiency, no ballast requirement, and low heat wastage. It is one of the major technologies used in smart greenhouses for growing crops. The demand for LED grow lights is increasing due to the rising trend of indoor farming, government regulations in favor of LED lighting, and requirement for energy-efficient and long-lasting lighting technology as a supplement to natural lighting. The HVAC technology holds the largest market share among all smart greenhouse market technologies. The present value of HVAC is worth USD 283.97 Million in 2015 to reach USD 382.28 Million by 2020.
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In this report, the Smart Greenhouse Market is segmented into hydroponic and non-hydroponic greenhouses. The technologies used in smart greenhouses covered in this report are HVAC, LED grow light, communication technologies, irrigation systems, material handling, valves & pumps, control systems, and others. Each technology, and type is analyzed both in terms of qualitative and quantitative aspect, and it includes all sub segments with detailed analysis.
One of the objectives of the report was to analyze the market trends for each of the smart greenhouse market segments and their respective growth rates. Apart from the market segmentation, the report also conducts in-depth analyses such as Porter's five forces analysis, value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the smart greenhouse market.
The market size for the smart greenhouse market is included in the report for four geographical regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW). Europe is estimated to account for a major share in this market, whereas the Asia-Pacific region is expected to witness the highest growth with a CAGR of 15.58% from 2015 to 2020.
In the smart greenhouse market, the non-hydroponic type captured the majority of the market share; however, the hydroponic type is the fastest-growing type during the forecast period. Some of the major players in this market are GreenTech Agro LLC (U.S.), Nexus Corporation (U.S.), Certhon (The Netherlands), Logiqs B.V. (The Netherlands), Hort Americas (U.S.), Argus Control System Ltd. (Canada), LumiGrow Inc. (U.S.), Heliospectra AB (Sweden), Terrasphere Systems, LLC (U.S.), and Rough Brothers, Inc. (U.S.).
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