PUBLISHER: The Business Research Company | PRODUCT CODE: 1428307
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428307
A smart indoor gardening system is an automated and technologically advanced setup that enables individuals to grow plants and herbs indoors with minimal effort and expertise. These systems incorporate various smart features, sensors, and technology to create an optimized environment for plant growth and provide convenience to users.
The main types of smart indoor gardening systems are floor gardens and wall gardens. A floor garden refers to an indoor gardening setup where plants are grown on the floor or ground level. These systems can automate watering, lighting, and environmental controls. The smart systems include technologies such as self-watering, smart sensing, smart pest management, and other technologies. These systems are used by both residential and commercial end-users.
The smart indoor gardening system research report is one of a series of new reports from The Business Research Company that provides smart indoor gardening system market statistics, including the smart indoor gardening system industry's global market size, regional shares, competitors with a smart indoor gardening system market share, detailed smart indoor gardening system market segments, market trends and opportunities, and any further data you may need to thrive in the smart indoor gardening system industry. This smart indoor gardening system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart indoor gardening system market size has grown strongly in recent years. It will grow from $2.16 billion in 2023 to $2.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historical period can be attributed to rising innovation in smart indoor gardening systems, the growth of the global interior designing industry, increased demand for better yields, advancements and development of more innovative farming techniques and products, and the growing adoption of innovative technologies such as IoT (Internet of Things) and AI (Artificial Intelligence).
The smart indoor gardening system market size is expected to see strong growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be attributed to the emergence of AI and IoT-based smart indoor gardening systems, rapid digitization and urbanization across emerging nations, rising consumer awareness and acceptance, increasing trends in interior design, and a growth in disposable income. Key trends expected in the forecast period include the adoption of smart soil and smart light technologies, technological advancements in indoor gardening systems, strategic collaborations, the introduction of innovative solutions, partnerships among key players, and the integration of wireless connectivity and sensor-based technologies.
The smart indoor gardening system market is poised for growth, driven by the increasing trend of gardening activities. Gardening activities encompass a range of tasks involved in nurturing plants in both outdoor and indoor settings. Smart indoor gardening systems, responding to the rising interest in indoor gardening, offer automated features and optimized environments for successful plant cultivation. In April 2023, a report from the National Gardening Association revealed that the average household expenditure on lawn and gardening-related activities in 2022 was $616, marking a $74 increase from 2021. Moreover, the participation rate in lawn and gardening activities reached its highest level in five years, with 80% of households engaging in these pursuits. This surge in gardening activities is a key driver propelling the growth of the smart indoor gardening system market.
The growth of the smart indoor gardening system market is also significantly influenced by increasing urbanization. Urbanization, the concentration of large populations in relatively small areas, has led to reduced living spaces and limited outdoor gardening areas. As a result, indoor gardening has become an appealing alternative for urban dwellers. Smart indoor gardening systems cater to this demand, providing solutions for cultivating plants in confined spaces. According to data from the United Nations Conference on Trade and Development (UNCTAD) in July 2023, the global urban population is projected to increase by 1.5 times, reaching 6 billion by 2045. This ongoing trend of urbanization is expected to drive the growth of the smart indoor gardening system market.
A prominent trend in the smart indoor gardening systems market is the integration of technological advancements. Major companies in this market are embracing new technologies to maintain their competitive positions. For instance, in December 2021, LG Electronics Inc., a South Korea-based electronics company, launched the LG Tiiun, a cutting-edge smart indoor gardening system. Leveraging LG's technological expertise, this innovative tool offers a streamlined and automated plant cultivation process with adjustable temperature control and optimized lighting for accelerated growth. The internal structure of LG Tiiun enhances photosynthesis efficiency through a powerful LED light source, facilitating faster plant growth. With a transparent door for observation, airtight sealing, and consistent temperature maintenance, users can remotely monitor and control settings through the ThinQ app, receiving notifications for water tank refills.
Major companies in the smart indoor gardening systems market are directing their efforts toward developing innovative products, including freestanding indoor gardening appliances. These appliances are self-contained units designed for indoor plant cultivation, often eliminating the need for traditional gardening methods and soil. For example, in December 2021, LG Electronics Inc. introduced the LG Tiiun, a sleek and modern appliance featuring multiple tiers for plant growth. Equipped with automated watering, lighting, and nutrient delivery, the LG Tiiun allows users to enjoy the benefits of homegrown food year-round. Controllable through a companion app, users can monitor plant growth, adjust settings, and receive notifications for water or nutrient replenishment.
In December 2023, BFG Supply Co, a wholesale supplier based in the United States that caters to the green industry, entered into a partnership with Quest Climate. The primary goal of this collaboration is to enhance indoor gardening and cultivation solutions by delivering high-quality services and expanding the accessibility of Quest's products. This partnership is expected to broaden the reach of Quest's dehumidification products and elevate the level of customer service provided. By joining forces, these companies aim to offer unparalleled support and services to the industry, leveraging their shared commitment to quality, innovation, and customer satisfaction. Quest Climate, based in the United States, specializes in providing dehumidifiers and climate control solutions for indoor gardening and cultivation.
Major companies operating in the smart indoor gardening system market report are Robert Bosch GmbH, Plenty Unlimited Inc., AeroFarms, Gardyn Inc., BSH Hausgerate GmbH, BrightFarms Inc., Click & Grow LLC, CityCrop Automated Indoor Farming Ltd, IGWorks Inc., Living Greens Farm Inc., Bowery Farming Inc., Agrilution Systems GmbH, AVA Technologies Inc., Plantui Smart Garden LLP, Gotham Greens LLC, Homecrop, EDN Inc., Grow Smart Greens, Rise Gardens Inc., Nutritower Inc., Urban Cultivator, Greenjoy Production Inc., Root Farm Ltd., VegeBox, Greenery Unlimited, AquaSprouts Inc., Ingarden Inc., Farmshelf Corporation, iDOO, Lettuce Grow.
North America was the largest region in the smart indoor gardening system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart indoor gardening system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the smart indoor gardening system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The smart indoor gardening system market consist of revenues earned by entities by providing services such as setup, installation, and maintenance of the indoor gardening system. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart indoor gardening system market also consists of sales of components of aerogarden, click & grow smart garden, and plantui smart garden. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Indoor Gardening System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart indoor gardening system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart indoor gardening system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart indoor gardening system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.