Smart Indoor Garden Systems Market Overview — 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. Smart indoor gardening system is a self-growing garden solution, which enables users to grow herbs, fresh plants, and flowers with higher nutritional content. The smart garden is a technological gardening device that is controlled by Wi-Fi. It has an app that helps to manage the unit from Android phone or iOS. These systems are designed for indoor use to manage lighting and offer nutrients to plants. In addition, they are specially designed for indoor use in small spaces, without soil, and are equipped with self-watering systems.
Increase in construction activities in the developing countries, such as India and China drives the growth of the market. For instance, China planned to spend $13 trillion on construction building by 2030, which expected to contribute toward the growth of the global smart indoor garden systems market. In addition, increase in trend of indoor gardening among people globally is another factor driving the growth of the market. Moreover, rise in disposable income is anticipated to boost the growth of the market. The emerging economies such as India, China, Brazil, and South Africa are witnessing increase in disposable income from past few years. For instance, in February 2020, the National Bureau of Statistics, China released data of the Chinese economy. According to this data, real disposable income per capita has increased by 5.8% from 2018 to 2019. This rise in disposable income may result in rise in expenditure on health, which is expected to lead to rise in demand for smart indoor gardening systems in the future.
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The global market of smart indoor garden systems is segmented into type, technology, end user, and region. By type, the market is segregated into floor garden and wall garden. Depending on technology, it is fragmented into self-watering, smart sensing, and smart pest management. On the basis of end user, the market is bifurcated into residential and commercial. Region wise, the smart indoor garden systems market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America dominated the market in 2019, accounting for the highest share. However, Asia-Pacific is anticipated to lead the market throughout the forecast period, owing to rapid urbanization in countries such as India and China. According to the National Academy of Economic Strategy, China’s urbanization ratio is anticipated to reach 70% by 2035. The demand for residential real estate would, therefore, increase, which is expected to drive the smart indoor garden systems market in major cities of developing countries.
Competition Analysis
Key companies profiled in the report of smart indoor garden systems industry 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.
The product launch and business expansion are the key strategies adopted by major players to remain competitive in the market. For instance, in April 2020, AeroFarms planned to build a 90,000 square foot indoor vertical farm in Abu Dhabi, UAE. The farm will be dedicated to state-of-the-art R&D and commercialization of relevant local crops utilizing AeroFarms’ expertise and proprietary indoor vertical farming technology.
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