Global Hydroponics Market: Key Highlights
Global Hydroponics Market: Key Market Dynamics
Global Hydroponics Market: Regional Overview
Europe is expected to account for the largest market share in this market owing to the increasing development of innovative technologies and the growing adoption of controlled-environment agriculture for horticulture crops. Moreover, increasing consumer awareness about the quality difference in greenhouse-grown vegetables and hydroponics culture is further boosting the hydroponic market in Europe.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region can be attributed to the increasing demand for the environmental friendly fresh vegetables and fruits with no use of pesticides. However, lack of awareness about the hydroponic system, lack of government policies, and high initial investment are some factors that expected to hinder the market growth in this region.
Global Hydroponics Market: Key Players Overview
Signify Holding is one of the global leader in the lighting for professionals, consumers, and lighting for the Internet of Things. The company offers energy-efficient light products, systems, and services. Signify Holding has a presence in over 70 countries across the globe. In April 2019, Signify Holding has announced to acquire the WiZ Connected, a Hong Kong-based IoT technology company. With this acquisition, Signify Holding enables to address a larger customer base in the growing market of Wi-Fi-based lighting.
Heliospectra AB engaged in developing intelligent lighting technology for greenhouse and controlled plant growth environments. The company’s focused on utilizing modern LED technology into different ways. In October 2019, Heliospectra AB to partner with Nectar Farms for large scale glasshouse installation in Australia by using MITRA LED lighting solutions. The order value is USD 6.83 million and includes a down payment of 50 % during fourth quarter of 2019.
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