Market Research Report
North America Smart Greenhouse Market Forecast 2021-2028
|North America Smart Greenhouse Market Forecast 2021-2028|
Published: February 8, 2021
Content info: 102 Pages
Delivery time: 2-3 business days
The North America smart greenhouse market is projected to register a CAGR of 7.24%, across the studied period of 2021 to 2028. The region's market growth is supplemented by factors like, the presence of well-established players, the lack of agricultural land, the growing need for good-quality food, and the increasing demand for smart farming.
The North America smart greenhouse market growth is assessed through the analysis of Canada and the United States. While the overall vegetable prices in the United States have increased, the industry revenue has been limited. Moreover, extreme weather conditions damaged several crops of fresh field farmers. As a result, farmers' markets and grocery stores are rapidly turning to hydroponic farmers, in order to fulfill their demands. Droughts across several parts of the United States have also impaired agricultural industries over the last five years, thereby presenting positive growth opportunities to hydroponic crop farmers.
Conversely, vertical farming is steadily becoming a functional reality in southern Ontario, Canada, despite the seemingly prospective possibilities. In this regard, a new vertical farm in Welland's Industrial Zone, registered its foremost harvest, in November 2020. Inaugurated in September, the facility practices a high-tech approach, in terms of growing food indoors. This aspect saves energy and also helps enhance food safety and security. Therefore, such factors are anticipated to fuel the smart greenhouse market growth in North America, over the forecast period.
Leading companies operating in the market are, Argus Control Systems Limited, GreenTech Agro LLC, Hort Americas, etc.