The US current account deficit increased and reached $234.8 billion in Q4 2021. However, the Canadian dollar (CAD) exchange increased by 29.9% in Q1 22 to reach $294.4 billion, widening the imbalance by $68.6 billion. In the first quarter of 2022, exports of goods and services increased by $27.7 billion, for a total of $1.07 trillion. However, the country’s goods and services deficit narrowed to $79.9 billion in June from $87.9 billion in May, which has been corrected, with a drop of $5.7 billion indicating some relief. . On the other hand, the country’s annual inflation rate reached 8.7%.
The global market for smart indoor gardening systems will reach US$1 billion by 2027.
The smart indoor gardening system is designed for easy indoor use in small spaces, without messy floors. The seeds are located inside biodegradable, nutritious plant pods that simply pop into the unit. The device is then plugged in and connected to your Wi-Fi, and the water tank is filled. The indoor gardening system is also used to treat patients which is driving the growth of the market over the forecast period.
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For example: according to the NCBI, indoor gardening has been used to treat patients with mental health issues. Human beings generally feel happier and more optimistic in an environment rich in plants and nature. Consider a survey conducted at four hospitals in the San Francisco Bay Area. According to the National Recreation and Park Association, a survey was launched in 2019, in the survey of 3,000 people, 79% of patients said they felt more relaxed and calm, 19% felt more positive and 25% felt refreshed and stronger after spending time in a garden. Moreover, with the adoption of new interior design technologies, the demand for smart indoor gardening systems is expected to increase the market growth over the forecast period. On the other hand, high initial investment for high-quality containers might restrain the market growth of the smart indoor gardening systems market over the forecast period.
Key regions considered for the global Smart Indoor Gardening Systems market study include Asia-Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region in the world in terms of market share owing to the growing geriatric population and the speed and affordability of urgent care services coupled with well-established healthcare infrastructure . While Asia-Pacific is expected to show the highest growth rate/CAGR during the forecast period 2021-2027. Factors such as increasing disposable income, increasing number of injuries, and improving healthcare infrastructure would create lucrative growth prospects for the smart indoor gardening system market in the Asia-Pacific region.
The major market players included in this report are:
AVA Technologies Inc.
CLICK AND CROSS SARL
CityCrop Automated Indoor Farming
Grow Smart Greens
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The objective of the study is to define the market size of different segments and countries in recent years and to forecast the values to the next eight years. The report is designed to incorporate qualitative and quantitative aspects of the industry in each of the regions and countries involved in the study. Furthermore, the report also provides detailed information about the crucial aspects such as driving factors and challenges which will define the future growth of the market. Additionally, the report should also incorporate the opportunities available in the micro markets for stakeholders to invest in, along with the detailed analysis of the competitive landscape and product offerings of key players.
The detailed segments and sub-segments of the market are explained below:
Self-watering, intelligent sensing
Intelligent pest management
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The geographical segmentation of the market in the research report is listed as follows:
- North America
- Asia Pacific
- Latin America
- Rest of the world
This report answers the following key questions:
- What is the size of the market as a whole in 2021? What rate of market expansion is expected between 2022 and 2030?
- Which region would experience strong demand for property in the coming years?
- What are the variables favoring the expansion of the market?
- Which sub-market will have the most impact on the market?
- What are the market opportunities for established and new players?
- What different short-term and long-term tactics have market participants adopted?
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