The high investment cost of hydroponic technologies might challenge growth
Technavio estimates the global hydroponics technologies market to grow by USD 450.18 million, progressing at a CAGR of almost 15% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by facilitation in soil and space-saving. However, the high investment cost of hydroponic technologies might challenge growth.
Hydroponics Technologies Market: Technology Landscape
Based on technology, the market witnessed maximum growth in the environment and climate control systems segment. The segment is expected to offer several growth opportunities for vendors over the forecast period.
Hydroponics Technologies Market: Geography Landscape
34% of the market’s growth originated from Europe in 2019. Factors such as the rising adoption of controlled environment agriculture for horticultural crops and the increasing development of new advanced technologies that target specific crop needs are fueling the growth of the hydroponics technologies market in Europe.
The Netherlands is the key market for hydroponics technologies in Europe. Market growth in this region will be slower than the growth of the market in APAC and North America.
