Frequently Asked Question:
The global automated hydroponic gardening systems market was valued at USD 1.9 Billion in 2022.
The automated hydroponic gardening systems market is anticipated to grow at a CAGR of 14% between 2023 and 2030, reaching USD 4.75 Billion in 2030.
Aggregate is the leading segment by type, holding over 55% share in terms of value in 2022.
The heating, ventilation, and air conditioning (HVAC) segment governs the demand for automated hydroponic gardening systems worldwide, holding a massive share of over 38% in 2022.
The fruits segment will post the highest CAGR in the projected period.
Asia Pacific is fuelling the rapid growth of the automated hydroponic gardening systems industry, with an over one-third share in 2022.
The top players include Pegasus Agritech (India), General Hydroponics (U.S.), Koninklijke Philips N.V. (Netherlands), and AeroFarms (U.S.). Other major players include AirLogix (U.S.), Thanet Earth Limited (U.K.), Rockwool A/S (Denmark), and FreshBox Farms (U.S.).
The growing demand for sustainable and efficient agricultural practices, the increasing requirement for high-quality food production in urban areas, and increased interest in local and urban farming are the key market drivers of the automated hydroponic gardening systems industry.
The major market restraints of the automated hydroponic gardening systems industry are high upfront costs and initial investments, technical complexities in managing nutrient levels and environmental factors, limited availability and high costs of automation equipment, regulatory challenges, limited access to skilled professionals, and the need for continuous monitoring and maintenance.
The major market opportunities of the automated hydroponic gardening systems industry include the advancements in automation technology and equipment, the integration of advanced technologies such as AI & IoT, the expansion of vertical farming and indoor agriculture, and the potential for market growth in emerging economies.