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| Global Smart Indoor Gardening System Market Size |
The smart indoor gardening system allows users to grow herbs, vegetables and
flowers inside homes using innovative hydroponic and aeroponic technologies.
Key benefits include all-season cultivation, minimum use of water and
nutrients, automated monitoring and control.
The Global
Smart Indoor Gardening System Market Size is estimated to be valued at US$ 2.36 Bn in 2024 and is expected to
exhibit a CAGR of 6.2% over the
forecast period 2024 to 2031.
Key Takeaways
Key players operating in the smart indoor gardening system are Aero Farms,
Robert Bosch GmbH, CLICK & GROW LLC, Plenty Unlimited Inc, Gardyn Inc, BSH
Hausgerate GmbH, Grobo Inc., AVA Technologies Inc., CityCrop, EDN Inc.,
Metropolis Farms Canada, Moistenland LLC, Natufia Saudi Arabia LLC, Rise Gardens
LLC, The Leaf Land Scape, Urban Smart Farms, Grow Smart Greens, and Plantaform.
The growing awareness about health benefits of homegrown herbs and vegetables
is fueling the demand for smart indoor gardening systems. Major players are
expanding their businesses globally to strengthen their market presence in high
potential regions.
Growing demand: The increasing popularity of urban gardening and rising health
consciousness among consumers is driving the demand for smart indoor gardening
systems. Busy lifestyle reducing outdoor activities has further augmented the
adoption of indoor gardening solutions.
Global expansion: Key players are focusing on global partnerships and
acquisitions to expand distributions networks. Players like Aero Farms and
Plenty have launched facilities in different regions to cater to the growing
international demand. Expos and tradeshows are helping vendors penetrate
untapped newer markets.
Market key trends
The trend of vertical farming using LED lighting and hydroponics is gaining
traction in the smart indoor gardening market. LEDs allow optimal light for
plant growth while minimizing energy costs. Hydroponics uses 95% less water
than soil-based gardens. IoT integration is another key trend, allowing
monitoring of environmental factors and automated adjustments for optimal plant
health. This is expected to fuel further growth in the smart indoor gardening
system market.
Porter’s Analysis
Threat of new entrants: Low barriers to entry like limited capital requirement allows new players to enter the market easily. However, established players have strong brand recognition and distribution networks which will act as deterrents.
Bargaining power of buyers: Buyers have high bargaining power due to the availability of substitutes. They can easily switch to traditional gardening methods if prices are increased.
Bargaging power of suppliers: Key components in smart indoor gardening systems like grow lights, sensors etc are specialty products with few manufacturers globally. This gives them strong bargaining power over buyers.
Threat of new substitutes: Lowthreat as traditional gardening methods have their own set of limitations like dependence on weather conditions and largear space requirements.
Competitive rivalry: Intense competition due to low differentiation between products and services of key global players.
Geographical Regions:
North America currently leads the global market in terms of value primarily due to rising awareness about health benefits of indoor gardening and commercial adoption of vertical farming in the US and Canada.
Asia Pacific is expected to witness the fastest growth during the forecast period. Countries like China, India and Japan are emerging as lucrative markets driven by growing urban population, scarcity of urban agriculture space and changing consumer preference towards organic foods.