Smart Indoor Gardening System Market Share, Size, Trends, Industry Analysis Report, By Type (Floor Garden, Wall Garden), By End-Use (Residential, Commercial); By Technology (Self-watering, Smart Sensing, Smart Pest Management), By Region; Segment Forecast, 2022 - 2030
- Published Date:Mar-2022
- Pages: 116
- Format: PDF
- Report ID: PM2320
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global smart indoor gardening system market was valued at USD 2.06 billion in 2021 and is expected to grow at a CAGR of 5.2% during the forecast period. An indoor garden involves the use of various automated devices and systems for fertilizer dispersal, watering, lighting, and further maintaining the ambient temperature needed for plants growth.
Know more about this report: request for sample pages
The indoor gardening systems are used primarily across urban areas such as apartments in cities and others to grow fresh fruits, herbs, and flowers through the help of modern & innovative technologies. Gardening requires time to time maintenance of plants, such as the use of fertilizers & pesticides controlling growth and watering plants, among others. However, indoor gardening systems consist of self-watering systems, pest management, and smart soil that ensures that the plant is getting optimal water, oxygen, and nutrients. Additionally, the rising adoption of innovative systems for smart lighting and smart nutrition is anticipated to drive the growth of the smart indoor gardening system market.
Furthermore, according to a study by Princeton University, gardening is one of the most beneficial for emotional & mental health out of various leisure activities. Thus, the increasing awareness regarding mental & emotional health globally is anticipated to drive the growth of the industry. However, the high capital cost along with the availability of conventional approaches is anticipated to hinder the growth of the industry.
The spread of the COVID-19 reflects the downfall in the smart indoor gardening system market growth on account of the significant disruptions in the production, manufacturing, and supply chain of smart indoor gardening system products. The production of various indoor garden products including self-watering containers, automatic lawn movers, and sprinklers, among others, is disrupted due to the lockdown restriction globally.
These disruptions in the supply chain, lockdown measures, and limited consumer spending are anticipated to hamper industry development. The indoor garden industry is primarily dependent on raw materials. The imposed trade barriers and international border closures have resulted in the stoppage of all exports and imports, disrupting the entire production process. On the positive hand, the increasing awareness regarding health has increased gardening activities during the outbreak, presenting huge growth opportunities for the smart indoor gardening system market.
For instance, in March 2020, W.Atlee Burpee & Co. sold more seeds than they have sold in their history. Furthermore, according to Ozon, one of the leading retailers in Russia, the demand for seeds increased by over 30% in March 2020. Major players such as Agrium Inc., Scotts Miracle-Gro, and Spectrum Brands Holding Inc., among others, reported increased sales of gardening consumables during the outbreak.
Know more about this report: request for sample pages
Industry Dynamics
Growth Drivers
The advancements and development of more innovative farming techniques and products are anticipated to drive the growth of the smart indoor gardening system market. Further, the rising innovation in the smart indoor gardening system, growing interior designing industry globally, and increased demand for better yields, are estimated to offer huge growth opportunities.
The growing adoption of innovative technologies such as IoT and AI (Artificial Intelligence), among others, is projected to drive the growth of the indoor gardening system industry. The emergence of AI & IoT-based smart indoor gardening systems offers better compatibility with software applications on mobile devices.
Moreover, the benefits offered by smart indoor gardening systems are anticipated to fuel the growth of the industry. These systems offer various features such as self-watering, smart pest management, and digital monitoring systems, enabling the collection of vital data pertaining to plant nutrient levels.
Furthermore, the rapid digitization & urbanization across emerging nations is anticipated to drive the growth of the industry. The growing health concerns of the population towards the use of growth-enhancing chemicals are boosting the demand for such initiatives.
Report Segmentation
The market is primarily segmented on the basis of type, technology, end-use, and region.
|
By Type |
By Technology |
By End-Use |
By Region |
|
|
|
|
Know more about this report: request for sample pages
Insight by End-Use
The residential segment is recorded to hold the largest revenue share in 2021 and is expected to lead the market in the forecasting years. This huge share of the segment can be attributed to the increasing residential construction activities globally. Furthermore, the rising renovation activities are anticipated to drive the growth of the segment. For instance, various upcoming residential projects in Canada include Garibaldi at Squamish Ski Resort with a value of over CAD 3.5 billion, Oxford Place, and Rockcliffe Lands Redevelopment.
Additionally, the rising per capita income of the population globally is anticipated to offer huge growth opportunities for the segment. The commercial segment is projected to witness a progressive growth rate in the forecasting years. The growth of the segment can be attributed to the rising number of outdoor restaurants and cafes globally.
The rising trend of upgrading outdoor space of various commercial infrastructures such as hotels, entertainment parks, and corporate offices, among others, in order to increase their value is anticipated to drive the growth of the segment. Furthermore, the increasing commercial construction activity globally is anticipated to drive the growth of the segment. According to RICS Economics, the global CAI (Construction Activity Index) increased to +25 in Q2 2021 when compared to +14 of Q1 2021.
Geographic Overview
North America is expected to account for the largest revenue share in the global market in 2021. The region's market growth is attributed to the rising trend for garden & house parties across North America. The rising consumer awareness regarding mental & emotional health, along with the presence of key industry players in the U.S., is anticipated to boost the growth of the market.
Furthermore, the growing number of renovation projects for both the residential and commercial sectors is anticipated to provide huge market growth opportunities. Additionally, the growing demand for food gardening is anticipated to drive the growth of the market.
Moreover, the Asia Pacific lawn & garden consumables market is anticipated to exhibit the highest CAGR over the forecasting years. The growth of the market in the region can be attributed to the rapidly growing commercial & residential construction sector. The increasing number of manufacturing firms and growing population are further likely to amplify the market growth across the APAC region.
Competitive Insight
Some of the major players operating in the global market include AeroFarms, Agrilution, AVA Technologies Inc., CityCrop Automated Indoor Farming, CLICK & GROW LLC, EDN, Inc., Grobo, Grow Smart Greens, Homecrop, PLANTUI, Theleaflandscape, and Tower Garden
Smart Indoor Gardening System Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2021 |
USD 2.06 billion |
|
Revenue forecast in 2030 |
USD 3.22 billion |
|
CAGR |
5.2% from 2022 - 2030 |
|
Base year |
2021 |
|
Historical data |
2018 - 2020 |
|
Forecast period |
2022 - 2030 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2022 to 2030 |
|
Segments covered |
By Type, By Technology, By End-Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
AeroFarms, Agrilution, AVA Technologies Inc., CityCrop Automated Indoor Farming, CLICK & GROW LLC, EDN, Inc., Grobo, Grow Smart Greens, Homecrop, PLANTUI, Theleaflandscape, and Tower Garden. |
© 2024 Polaris Market Research and Consulting. All rights reserved
