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The North America Hydroponics Market would witness market growth of 18.4% CAGR during the forecast period (2021-2027).
Hydroponics Market is being driven by increased yields compared to traditional agriculture approaches. Plants produced in hydroponic systems provide a greater yield than plants cultivated in regular agricultural systems, with productivity levels 2–5 times higher. Furthermore, the influence of climatic variations may be balanced with the aid of these systems due to regulated environmental conditions, resulting in no impact on yearly crop yield. CEH methods have a direct impact on agricultural harvesting.
Climate control, nutrient film methods, and sensor technologies, among other advancements, are projected to boost market growth in the coming years. With a variety of sensors, online platforms, software, and mobile applications, hydroponics farming solution companies give users with a variety of methods to manage and monitor their crops. SmartBee Technology, Inc., for example, supplies irrigation controllers, water and nutrient sensors, ambient sensors, and software that gives farmers real-time control. The use of IoT in a more advanced way allows for autonomous and remote data collecting and monitoring.
The market need for hydroponic operations is being driven by the region's desire for fresh vegetables and fruits. Currently, the hydroponics farms in the area are family or small commercial enterprises that encompass around one acre. Rooftop hydroponic gardens in cities like New York are assisting the market's expansion. The advancement of hydroponic production systems that are cost competitive with open-field agricultural methods is critical to the future growth of the hydroponics sector in the region.
Commercial vegetable growers are turning to hydroponic production because it is a cost-effective way to regulate inputs and manage disease and pests while also being a labor-intensive way to manage greater regions of output. Farmers in the region are expected to embrace hydroponics as a popular growth method since it reduces necessity soil fumigants and can enhance yields of popular vegetables. The industry is expected to rise due to the growing use of hydroponics as a cultivation method.
The US market dominated the North America Hydroponics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,591.7 million by 2027. The Canada market is poised to grow at a CAGR of 21.1% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 20% during (2021 - 2027).
Based on Type, the market is segmented into Aggregate Systems and Liquid Systems. Based on Crops, the market is segmented into Tomatoes, Lettuce, Peppers, Cucumbers, Herbs, Fruits, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Hydroponics Market is Estimated to reach $13.4 Billion by 2027, at a CAGR of 19.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Argus Control Systems Limited, The Scotts Miracle-Gro Company, American Hydroponics, LumiGrow, Inc., Emerald Harvest, Hydroponic Systems International, Hydrofarm Holdings Group, Inc., HydroGarden Ltd., Signify N.V., and Heliospectra AB.
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