North America Vertical Farming Market is expected to grow with the CAGR of 29.2% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below:

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North America vertical farming market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in North America vertical farming market are introducing strong range of product portfolio. This has helped the companies to maximize the sales with enhanced product portfolio. For instance, in January 2021, AeroFarms awarded as the only agtech/agriculture company to get Big Innovation Annual award honour for the tremendous site at business intelligence. The company enhanced its business portfolio and brand image through the recognition of the award.

Signify Holding is the dominating player in North America vertical farming market. The other players existing in the vertical farming market are AeroFarms, BOWERY FARMING INC., AGM Services, Altius Farms, CubicFarm Systems Corp., Green Sense Farms Holdings, Inc., AMHYDRO, InFarm – Indoor Urban Farming GmbH, Urban Crop Solutions, CropOne, Plenty Unlimited Inc., Freight Farms, Inc., ZipGrow Inc., SANANBIO, EVERLIGHT, OSRAM GmbH, Valoya, Heliospectra AB, Jain Irrigation Systems Ltd among others.

Signify Holding:

Signify Holding is headquartered in Eindhoven, the Netherlands and was founded in 1891. The company focuses on providing lightning professionals among consumer lighting with internet of things. The company deals in multiple business segments such as lamps, LED, professional, home and others among which LED is the market focused segment. The company has wide range of products under categories such as Philips, interact, Philips hue, color kinetics and WIZ out of which Philips is the market focused category.

For instance,

• In September 2019, Signify Holding introduced LED modules are for vertical farming allowing consistent quality of producing open field lettuce or lettuce grown with the help of fluorescent lighting. The company enhanced the business portfolio through the launch of the technology generating more profit and income to it.

The company has wide presence in Asia-Pacific, Europe, Middle East and Africa, Latin America and North America generating revenue through various subsidiaries such as Color Kinetics (U.S.), Signify North America Corporation (U.S.) Cooper Lighting, LLC (U.S.), Signify Canada Ltd (Canada), Signify Netherlands B.V. (Netherlands) among others.

OSRAM GmbH:

OSRAM GmbH is headquartered in Munich, Germany. The company focuses on providing high quality lighting solution in various sectors. The company deals in multiple business segments such as opto semiconductors, speciality lightning, lightning solutions and digital systems among which opto semiconductors is the market focused segment. The company has wide range of products under categories such as automotive, LED (light emitting diodes), emitters, lasers, sensors, light engines and modules, light management systems, electronic control gear, flexible lighting solutions, traditional and specialty lamps and luminaires out of which luminaires is the market focused category.

For instance,

• In October 2020, OSRAM GmbH’s brand Fluence which is a leading North America provider of energy-efficient LED lighting solutions for agriculture production and commercial cannabis has launched the VYPR 3x and VYPR DUO 3×2 lighting solution. This new launch will help company to expand their product portfolio.

The company has wide presence in Americas, Europe, Middle East and Africa, Asia and Australia generating revenue through various subsidiaries such as OSRAM Ltd., Slough, Berkshire/Great Britain (U.K.), OSRAM Continental Italia S.r.l. (Italy), OSRAM Continental Austria GmbH (Austria), OSRAM Comercio de Solucoes de Iluminacao Ltda. (Brazil), OSRAM China Lighting Ltd. (China) among others.

EVERLIGHT:

EVERLIGHT is headquartered in New Taipei City, Taiwan which was founded in 1983. The company focuses on providing high power LEDs, lightning components, digital displays and opto- couplers for various applications. The company deals in multiple business segments such as LED, LCD, illumination and others among which LED is the market focused segment. The company has wide range of products under categories such as visible LED, infrared LED / IRM / PLT / optical switch, optical IC, photo coupler, IGBT, SSR and RoHS / reach out of which visible LED is the market focused category.

For instance,

• In March 2020, EVERLIGHT has released its new ELUC3535NUB series of UVC products based on a sapphire substrate. EVERLIGHT has invested and developed UVC and UVA LED technology for many years. This new launch has helped the company to expand their product portfolio.

The company has wide presence in Americas, Europe, Africa, Asia-Pacific and Oceania generating revenue through various subsidiaries such as Everlight Europe GmbH (Germany), Everlight Americas Inc. (U.S.), Everlight Optoelecronics Korea co. Ltd (Korea), Everlight Electronics India Private Limited (India), Everlight Electronics Singapore Pte. Ltd. (Singapore) among others.