The Smart Indoor Gardening System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Indoor Gardening System Global Market Report 2024, 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 in the historic period can be attributed to rising innovation in the smart indoor gardening system, growing interior designing industry globally, increased demand for better yields, advancements and development of more innovative farming techniques and products, growing adoption of innovative technologies such as iot and ai.
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 growth in the forecast period can be attributed to 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, increasing disposable income. Major trends in the forecast period include smart soil and smart light technologies, technological advancements, strategic collaborations, innovative solutions, key players’ partnerships, integration of wireless connectivity and sensor-based technologies.
Increased gardening activities are expected to propel the growth of the smart indoor gardening system market going forward. Gardening activities refer to the various tasks and actions involved in cultivating and caring for plants in outdoor or indoor spaces. Smart indoor gardening systems cater to the growing interest in indoor gardening by providing automated features and optimized environments for successful plant cultivation. For instance, in April 2023, according to report published by the National Gardening Association, a US-based nonprofit organization, the average household spent $616 on lawn and gardening-related activities in 2022, an increase of $74 from 2021. Additionally, in 2022, the participation rate in lawn and gardening activities reached its highest level in five years, with 80% of households engaging in these activities. Therefore, increased gardening activities are driving the growth of the smart indoor gardening system market.
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The smart indoor gardening system market covered in this report is segmented –
1) By Type: Floor Garden, Wall Garden
2) By Technology: Self-Watering, Smart Sensing, Smart Pest Management, Other Technologies
3) By End-Use: Residential, Commercial
Technological advancements are a key trend gaining popularity in the smart indoor gardening systems market. Major companies operating in the smart indoor gardening market are adopting new technologies to sustain their position in the market. For instance, in December 2021, LG Electronics Inc., a South Korea-based electronics company, launched LG Tiiun, a state-of-the-art smart indoor gardening system. This contemporary tool utilizes LG’s technology expertise to provide a simple and automated plant cultivation process with adjustable temperature control and optimized lighting for faster growth. LG Tiiun’s internal structure enhances photosynthesis efficiency, aided by the powerful LED light source, promoting speedier plant growth. The transparent door allows observation while maintaining airtight sealing and a consistent temperature. Users can monitor and control settings remotely via the ThinQ app, receiving notifications for water tank refills.
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