The global Indoor Farming Technology market will be worth USD 62.67 Billion by 2027. The growth of this market can be the rising demand for health-conscious consumers for high-quality and fresh organic foods. The rising incidence of chronic diseases among consumers has shifted their preferences towards high-quality organic food as they are more nutritious, healthier, and safer. Rapid urbanization in the emerging economies and the increasing purchasing power of the consumers is driving the growth of the indoor farming technology market. Growing initiatives to develop an independent farming technique having less impact on climate is anticipated to fuel the development of the indoor farming system.
The all-inclusive report on the Global Indoor Farming Technology Market added by Emergen Research demonstrates that the global Indoor Farming Technology market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Indoor Farming Technology market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Key players in the market include Everlight Electronics, Philips Lighting, Netafim, Illumitex, Inc., Argus Control Systems, Logiqs B.V., Freight Farms, Signify, BrightFarms, and American Hydroponics, among others.
Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Indoor Farming Technology market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Indoor Farming Technology market size
2.2 Latest Indoor Farming Technology market trends
2.3 Key growth trends - Competitive Landscape
3.1 Global Indoor Farming Technology market key players
3.2 Global Indoor Farming Technology size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Indoor Farming Technology market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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Emergen Research has segmented the global Indoor Farming Technology on the basis of Component, Facility Type, Growth Mechanisms, Crop Type, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Software Services (web-based, cloud-based)
Hardware (Lighting Systems, Irrigation Systems, Sensors, Climate Control Systems)
Facility Type Outlook (Revenue, USD Billion; 2017-2027)
Indoor Deep Water Culture (DWC) systems
Indoor vertical farms (Shipping Container, building-based)
Glass or poly greenhouses
Growth Mechanisms Outlook (Revenue, USD Billion; 2017-2027)
Aeroponics
Hydroponics
Aquaponics
Hybrid
Soil-based
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
Herbs microgreens
Fruits Vegetables
Flower ornamentals
Others
Key Findings from the Report:
In March 2020, an expansion of collaboration between Signify and Planet Farms, an operator of vertical farms based in Italy, Europe. The collaboration is expected to boost the quality and yield of the crops with the help of the Philips GreenPower LED production.
The Hardware segment held the largest market share of 59.4% in 2019. The increasing need to protect the crops from severe climatic conditions and maintain optimum growth conditions is expected to drive the hardware solutions' growth.
Indoor vertical farms are forecasted to grow with the fastest CAGR of 10.1% over the forecast period. The increasing demand for health-conscious consumers for high-quality organic crops has increased the adoption of indoor vertical farms.
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The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Regional Outlook of Indoor Farming Technology Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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