Smart Agriculture Market Size in 2020 was worth US $ 13.7 Bn. at a CAGR of 9.7 % and it is expected to reach US $ 26.2 Bn. in 2027.
Smart Agriculture Market Overview:
The smart agriculture market was valued at US$ 13.7 bn. in 2020. The principal elements driving demand are the growing automation of commercial greenhouses and the growing use of the Controlled Environment Agriculture (CEA) concept in greenhouses in order to produce higher yields and maintain optimal growth conditions. Cultivators are becoming more aware of the potential benefits of greenhouse farming, which has resulted in a rise in the number of commercial greenhouses being built. Cultivators have turned their focus away from traditional lighting systems and toward LED grow lights, which are easier to integrate into a CEA setup. Despite their high cost, LED grow lights are regarded suitable for indoor farming due to their long-term energy efficiency benefits.