According to the Market Statsville Group (MSG), the global smart indoor gardening system market size is expected to grow from USD 124.6 million in 2022 to USD 308.8 million by 2033, at a CAGR of 8.6% from 2023 to 2033.
The smart indoor gardening system market's growth is driven by a rise in consumer preference for enhancing the aesthetic appeal of residential and commercial spaces, as well as increased demand for exotic construction modes and green technologies. The usage of smart indoor gardening systems has gained popularity due to the ability to plant an indoor garden in limited space while still achieving better outcomes, as well as the smart features of these systems, such as smart light, smart data, and smart nutrition.
Moreover, the increasing trend of urbanization and digitization, the adoption of smart homes, the demand for IoT-based smart home garden watering systems, and the rise in disposable income positively impact the smart indoor gardening system market. The introduction of new interior designing technologies is providing profitable opportunities for smart indoor gardening system market players in the forecast period.
A smart indoor gardening system is a modern solution for growing a self-sustaining garden, allowing users to cultivate herbs, fresh plants, and flowers with higher nutritional content. This innovative gardening device is equipped with Wi-Fi controls and can be managed through an app on Android or iOS devices. These systems are designed for indoor use, providing light and essential nutrients to plants. They are ideal for small spaces and do not require soil. Additionally, they are equipped with self-watering systems, making them low-maintenance and convenient for those who may not have the time or expertise to tend to traditional gardens.
The sudden outbreak of COVID-19 caused a negative impact on the manufacturing and production of smart indoor garden systems in the first and second quarters of 2020 and is likely to hamper smart indoor garden system's growth to some extent going ahead. The production of smart indoor garden products such as self-watering containers, smart sprinklers, and automatic lawn movers had been highly disrupted. COVID-19 has affected demand for smart indoor garden systems, not only in emerging countries but also in developed countries. In addition, disruption of the supply chain is also hampering the deployment of smart indoor garden systems due to restrictions and safety norms being implemented owing to the emergence of several variants.
However, the people were forced to remain inside their houses during the lockdown has led to increasing indoor farming and gardening activities. In order to manage farms and gardens remotely, the demand for smart solutions surges, creating lucrative opportunities for market growth.
The increase in construction activities in developing countries, such as India and China, drive the market's growth. For instance, China planned to spend $13 trillion on construction buildings by 2030, which is expected to contribute toward the growth of the global smart indoor garden systems market.
Furthermore, India is also spending more on its construction segment, and various authorities and governments are contributing to developing houses, this will drive the growth of the market in upcoming years. For instance, in January 2021, the Greater Noida Industrial Development Authority (GNIDA) announced to build of 10,000 affordable homes for EWS and LIG. These houses will be constructed through a public-private partnership (PPP) model under the PMAY.
Similarly, in January 2021, under the Pradhan Mantri Awas Yojana, the government authorized the construction of >1.68 lakh (168,000) houses in urban areas, bringing the total number of approved houses to 1.1 crore (11 million). In addition, Additionally, the allocation of Rs. 48,000 crores (~USD 6370.40 million) for the completion of 80,00,000 houses under the PMAY, both Urban and Rural, for the fiscal year 2022-23. Such initiatives are expected to promote small indoor gardening for both health and environmental purposes and drive the global market’s growth in forthcoming years.
Moreover, rising disposable income is anticipated to boost the market's growth. Emerging economies such as India, China, Brazil, and South Africa are witnessing increased disposable income from the past few years. For instance, in February 2020, the National Bureau of Statistics, China released data on the Chinese economy. According to this data, real disposable income per capita has increased by 5.8% from 2018 to 2019. This rise in disposable income may result in a rise in expenditure on health, which is expected to lead to rise in demand for smart indoor gardening systems in the future.
The smart indoor gardening systems market faces a major restraining factor i.e., a lack of awareness among potential customers regarding the market and its overall benefits over the crop’s growth, yield, and profitability. Hence, lack of awareness reduced the demand for the market and act as a major roadblock in the market’s growth across the globe.
In addition, the availability of other options, such as traditional or conventional approaches and set-ups, is another major factor restraining the adoption of smart indoor gardening systems. In addition, indoor gardens are highly vulnerable to diseases and pest infestations, which can occur even with proper care. Any lapse in monitoring or maintenance can result in negative consequences. Moreover, lower yields in terms of volume may impede the growth of the smart indoor gardening system market during the forecast period.
Moreover, the initial investment for adopting a smart indoor gardening system is high compared to using traditional methods of farming or gardening. This will further negatively impact the market's growth over the forecasting period.
Increasing technological advancements have changed the world’s outlook. The increasing adoption of smart homes and the growing demand for IoT-based smart home garden watering systems are the factors that drive the smart indoor gardening system market during the forecast period. These systems are equipped with Wi-Fi-controlled gardening technology and are accompanied by an application that can be easily controlled using Android or iOS devices. Adopting smart indoor gardens with digital monitoring systems enables the collection of vital data regarding plant growth and nutrient levels, boosting the growth of the global smart indoor garden market.
Furthermore, integrating AI in smart indoor gardening systems will create lucrative growth opportunities for the market over the forecasting period. For instance, Gardyn, a company that provides intelligent solutions for indoor gardening, provides solutions that can monitor plants using a camera and analyze their needs. Then AI recognizes any problem encountered and propose solution, this solution also includes sensors which assist in overall monitoring.
The study categorizes the smart indoor gardening system market-based on type and application area at the regional and global levels.
Based on the type, the market is divided into smart sensing, self-watering, smart pest management, and others. The self-watering segment accounted for the largest market share of around 37.5% in 2022 in the global smart indoor gardening system market. Self-watering systems utilize various technologies to provide plants with the right amount of water without requiring regular manual watering. Some systems feature sensors that measure the moisture content of the soil and automatically release water as needed. In contrast, others utilize gravity-fed irrigation or capillary action to deliver water to plants. These systems can help reduce the risk of over or under-watering, which can be a common issue for indoor gardeners. The convenience and ease of use of self-watering systems have made them a popular choice for consumers new to indoor gardening or with limited time and resources to devote to plant care.
Based on the regions, the global smart indoor gardening system market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America accounted for the largest market share of around 36.3% in 2022. With the rise of health and wellness trends, people are becoming more conscious about their food choices and are opting for homegrown organic produce. Smart indoor gardening systems allow people to grow their own fresh produce at home, which has become especially important during the pandemic when people spend more time at home and avoiding trips to the grocery store. Further, the availability of advanced technology and infrastructure in the region is contributing to the market’s growth. The region is being home to some of the world's largest technology companies and innovation hubs, consumers have access to cutting-edge technology for indoor gardening. This resulted in the development of advanced smart indoor gardening systems that are easy to use and can be controlled remotely through smartphones or other devices.
The smart indoor gardening system market is a significant competitor and extremely cutthroat in the sector is using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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