Global Hydroponics Technologies Market 2020-2024
Technavio has been monitoring the hydroponics technologies market and it is poised to grow by USD 450.18 mn during 2020-2024 progressing at a CAGR of 15% during the forecast period. Our reports on hydroponics technologies market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the facilitation in soil and space saving, the need for reduction in soil and water pollution and an increase in the offering of certified products. In addition, facilitation in soil and space saving is anticipated to boost the growth of the market as well.
The hydroponics technologies market analysis includes technology segment and geographical landscapes
Technavio's hydroponics technologies market is segmented as below:
- Grow lights
- Farm management systems
- Material handling systems
By Geographic Landscapes
- North America
- South America
This study identifies the increase in offering of advanced hydroponic growing systems as one of the prime reasons driving the hydroponics technologies market growth during the next few years. Also, launch of energy-efficient LED grow lights and increase in use of automation in hydroponic technologies will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our hydroponics technologies market covers the following areas:
- Hydroponics technologies market sizing
- Hydroponics technologies market forecast
- Hydroponics technologies market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hydroponics technologies market vendors that include Advanced LED Grow Lights, American Hydroponics, CropKing Inc., Growers Supply, Honeywell International Inc., Koninklijke Philips NV, Nutriculture Grow Systems, Oxygen Pot Systems, Siemens AG, and SuperCloset. Also, the hydroponics technologies market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.