Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||909018|
|Published||Content info||184 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 184 Pages||
Global Smart Greenhouse Market to Reach $3 Billion by 2027
Amid the COVID-19 crisis, the global market for Smart Greenhouse estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$3 Billion by 2027, growing at aCAGR of 11.9% over the period 2020-2027. Hydroponic, one of the segments analyzed in the report, is projected to record 12.5% CAGR and reach US$1.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Hydroponic segment is readjusted to a revised 10.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $408.9 Million, While China is Forecast to Grow at 11.4% CAGR
The Smart Greenhouse market in the U.S. is estimated at US$408.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$530.9 Million by the year 2027 trailing a CAGR of 11.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.6% and 10% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR.
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