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According to a new report published by Allied Market Research, titled, “Smart Indoor Garden Systems Market by Type, Technology, and End-user: Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global smart indoor garden systems market size was valued at $105,627.0 thousand in 2019, and is projected to reach $176,559.1 thousand by 2027, registering a CAGR of 8.4% from 2020 to 2027.Download PDF Sample Report @
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Factors such as the rise in urbanization coupled with an increase in disposable income in developing countries such as India, China, Brazil, Indonesia, and Vietnam drive the residential and commercial construction activities, which, in turn, is expected to fuel the growth of the global market. On the contrary, unfavorable climate conditions are one of the major restraints of the smart indoor garden systems market. Conversely, technological advancements in smart indoor garden systems are expected to provide lucrative opportunities in near future.
An increase in construction activities in developing countries, such as India and China drives the growth of the market. For instance, China planned to spend $13 trillion on construction buildings by 2030, which expected to contribute toward the growth of the global smart indoor garden systems market. In addition, an increase in the trend of indoor gardening among people globally is another factor driving the growth of the market.
Covid-19 Impact Analysis
However, the outbreak of COVID-19 has a negative impact on the manufacturing and production of smart indoor garden systems in the first and second quarter of 2020, and is likely to hamper the smart indoor garden systems market growth throughout the year. This has further affected the demand for smart indoor garden systems from the developed countries, including the UK, France, and Italy, thereby halting the production activities. In addition, the disruption of supply chain is causing hindrance in manufacturing of the smart indoor garden systems around the globe.
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Key Market Players
The key players profiled in the smart indoor garden systems market report include Aero Farms, Agrilution GmbH, AVA Technologies Inc., BSH Hausgeräte GmbH (Robert Bosch Stiftung GmbH) CityCrop Automated Indoor Farming Ltd, Click & Grow LLC, EDN Inc., Grobo Inc., Plantui Oy, and SproutsIO Inc.
Key Findings
The report provides an extensive analysis of the current and emerging smart indoor garden systems market trends and dynamics.
Depending on the type, the floor garden segment dominated the smart indoor garden systems market, in terms of revenue in 2019, however, the walled garden is projected to grow at a significant CAGR during the forecast period.
By end-user, the residential segment registered the highest revenue in 2019.
Asia-Pacific is projected to register the highest growth rate in the coming years.
Key players within the smart indoor garden systems market are profiled in this report, and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the smart indoor garden systems industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth smart indoor garden systems market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
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Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: 18007925285
Website: https://www.alliedmarketresearch.com
Release ID: 89033583
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