Global Indoor Farming Technology Market, By Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based and Hybrid), Facility Type (Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms and Indoor Deep Water Culture (DWC) Systems), Component (Hardware and Software and Services), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Data Bridge Market Research analyses that the indoor farming technology market will exhibit a CAGR of 9.60% for the forecast period of 2022-2029. Market Research report on indoor farming technology market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Indoor farming technology is a method of using various technologies to grow foods and plants within the house. This method uses artificial lighting to produce plants with increased nutrients, and it incorporates soil-based, aeroponics, aquaponics, and hybrid technologies. Indoor farming technology can be applied in the home as well as in the business sector on small and large scales.
Growth is expected to be driven by rising consumer awareness of the benefits of eating fresh, high-quality food. Furthermore, the growing global population, particularly in emerging economies like as China and India, has resulted in an increase in food demand, which is driving market expansion. Factors driving the growth of the indoor farming technology market include an increase in demand for fresh foods with more nutritive content, the requirement for higher yields with less space and water, and less dependence on external weather conditions. The market for indoor farming benefits from the development of cost-effective and innovative technology.
However, the indoor farming technology market is restrained by high initial investments and limitations on the sorts of crops that can be grown. One of the issues facing the indoor farming technology sector is a lack of skilled labour. Furthermore, limiting funding slows the pace of indoor farming research and development at public institutions and colleges, limiting the availability of data and knowledge that would otherwise encourage cultivators to invest.
This indoor farming technology market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on indoor farming technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Indoor Farming Technology Market Scope and Market Size
Indoor farming technology market is segmented on the basis of growing system, facility type, component and crop type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of growing system, indoor farming technology market is segmented into aeroponics, hydroponics, aquaponics, soil-based and hybrid.
- Based on facility type, indoor farming technology market is segmented into glass or poly greenhouses, indoor vertical farms, container farms and indoor deep water culture (DWC) systems.
- Based on component, indoor farming technology market is segmented into hardware, and software and services. Hardware is sub-segmented into climate control systems, lighting systems, communication systems, sensors, system controls, irrigation systems and others.
- Based on crop type, indoor farming technology market is segmented into fruits and vegetables, herbs and microgreens, flowers and ornamentals and others. Fruits and vegetables are sub-segmented into leafy greens, tomato, strawberry, eggplant and others. Leafy greens are further segmented into lettuce, kale, spinach and others. Herbs and microgreens are sub-segmented into basil, herbs, tarragon and wheatgrass. Flowers and ornamentals are sub-segmented into perennials, annuals and ornamentals.
Indoor Farming Technology Market Country Level Analysis
The indoor farming technology market is analysed and market size, volume information is provided by country, growing system, facility type, component and crop type as referenced above.
The countries covered in the indoor farming technology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the indoor farming technology market and will continue to flourish its trend of dominance during the forecast period because of the increased involvement of international business lines in agricultural operations to exclusively meet the expectations of crop producers to achieve export-quality crops, demand for indoor farming technology has been expanding in this region. Furthermore, the farming industry in the Asia Pacific area has been shifting away from traditional agricultural practises and toward modern and innovative ways.
The country section of the indoor farming technology market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Indoor Farming Technology Market Share Analysis
The indoor farming technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies’ focus on the indoor farming technology market.
Some of the major players covered in the indoor farming technology market report are Logiqs B.V., Illumitex, Vertical Farm Systems, Hydrodynamics International, General Hydroponics, Certhon, Dalsem, Richel Group, American Hydroponics, Harnois Greenhouses, Richel Group, Urban Crop Solutions, Vertical Farm Systems, Agrilution GmbH, Green Sense Farms, American Hydro Phonics, Philips Lighting, Everlight Electronics, Argus Controls Systems, Netafim and Lumigrow among others.