Image

North America Indoor Farming Technology Market – Industry Trends and Forecast to 2029

ICT

Image

North America Indoor Farming Technology Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Aug 2022
  • North America
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

North America Indoor Farming Technology Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Billion Billion
Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 1.92
Diagram Market Size (Forecast Year) USD 6.21
Diagram CAGR %

Major Markets Players

  • Dummy1
  • Dummy2
  • Dummy3
  • Dummy4
  • Dummy5

North America Indoor Farming Technology Market, By Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based, Hybrid), Facility Type (Glass or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture (DWC) Systems), Component (Hardware, Software and Services), Farm Size (Large Farms, Small Farms), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals, Others) – Industry Trends and Forecast to 2029.

Indoor Farming Technology Market

Indoor Farming Technology Market Analysis and Size

Indoor farming is not a new concept. In fact, the first and the prime example of indoor farming can be traced back to Hanging Garden of Babylon built more than 2500 years ago. Worldwide, in 2021, around 16.5 million square feet of indoor farms had been recorded.  Factually and scientifically proven, indoor farming is 170X more productive than outdoor farming. There is a greater and faster growth in indoor farming.

The North America indoor farming technology market was valued at USD 1.92 billion in 2021 and is expected to reach USD 6.21 billion by 2029, registering a CAGR of 15.80% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Indoor Farming Technology Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based, Hybrid), Facility Type (Glass or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture (DWC) Systems), Component (Hardware, Software and Services), Farm Size (Large Farms, Small Farms), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals, Others)

Countries Covered

U.S., Canada and Mexico

Market Players Covered

Sananbio (U.S.), Hawthorne Gardening Co. (U.S.), Freight Farms, Inc. (U.S.), OSRAM SYLVANIA Inc. (U.S.), SUNCORE TILES (Canada), Priva  (Netherlands), Surna. (U.S.), ZipGrow. (Canada), LOGIQS B.V. (Netherlands), GE CURRENT (U.S.), Signify Holding. (Netherlands), Argus Control Systems Limited (Canada), LumiGrow. (U.S.), Certhon (Netherlands), iFarm (Finland), Braingrid Corporation. (Canada), Eden Green Technology. (U.S.), NETAFIM (Israel), Urban Crop Solutions (Belgium) among many others.

Market Opportunities

  • Growing awareness about the benefits of indoor farming
  • Rising number of small and medium scale enterprises
  • Increasing technological advancements in the indoor farming setup

Market Definition

From the name itself, it is clear that indoor farming technology is the application of tools and necessary measures to produce plants, crops and food in general in an indoor setting. Indoor farming enjoys a unique set of advantages as the produce is fresh, healthy, free of chemicals and high in nutrition. Indoor farming technology can easily be used for small scale and large scale institutional settings.   

Indoor Farming Technology Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Global awareness regarding multiple factors  

The global efforts to minimize the carbon impact are influencing people to adopt greener and safer crop cultivation and food production methods. That said, here is a sharp rise in the awareness among people especially in the developing economies pertaining to the techniques and technologies that can be used for indoor farming purposes. Higher yield results of indoor farming as compared to conventional farming methods is yet again bolstering the growth of the market.

  • Increased support by the government

Rising number of government initiatives and supportive policies by the central and state government in regards to promoting the growth of the market especially in APAC region will widen the scope of growth to a great extent. Increasing the number of collaborations between the public and private players to develop and manufacture new, innovative and cost effective technologies is driving the market's growth.   

Furthermore, the factors such as rising urbanization, globalization and growing demand and consumption of organic food globally have further contributed to the overall market expansion during the forecast period. Additionally, growing adoption of high-yielding farming techniques such as urban farming and precision farming and rising personal disposable income are anticipated to drive the market's growth rate.

Opportunities

  • Benefits of indoor farming

Adopting indoor farming practices can conserve water and save space. Indoor farming creates optimum environment for the crops to grow and reduces water wastage owing to the use of techniques such as drip irrigation. Indoor farms recirculate and reuse the water; therefore, the method consumes 95% less water used in outdoor farming to grow the same crop.

  • Increasing internet adoption

Growing access to high speed internet and improving internet infrastructure in the developing economies will yet again propel the market growth rate. Penetration of 4G and 5G internet services will widen the scope of growth and expansion globally. Everything today is available on the internet. Netizens can learn about various techniques and educate themselves for the greater good.

Restraints/Challenges

  • High initial investments

The cost of setting up an indoor farming system is comparatively huge than outdoor farming. One of the main reasons for the same is that urban land is costlier than the farm land. Further, energy costs are high that are used in settings such as vertical farming. That said, energy runs for around 16 hours a day in case of vertical farming. Controlling the temperature of the setting is yet another financial burden.

  • Lack of adequate funding

Dearth of expert knowledge and technical expertise especially in the developed and developing economies and limited investors in the agricultural business will create hurdles for the market in regards to the smooth growth in the market value. Further, limited and slow funding for such projects will yet again hamper the market growth rate.

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 localized 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, geographic expansions, technological innovations in the market. To gain more info on the 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.

COVID-19 Impact on Indoor Farming Technology Market

The COVID-19 pandemic has benefited the expansion of the market and the post-pandemic period will continue to push forward the market growth rate. The pandemic phase has led to the widespread awareness pertaining to food safety and health. Many have become critical of the safety of outside food and as a result have started cooking self-made/homemade meals. This has resulted in a sharp rise in demand for indoor farming tools and technologies. Lockdown and movement restrictions put restaurant and hotel business in jeopardy. This in turn worked in the favor of indoor farming market.

Recent Developments

  • LumiGrow Inc. introduced a new TopLight Hybrid smart fixture in August 2019. Users of the hybrids will be able to take advantage of the expanded white spectrum, which is entirely wireless and can be regulated via the company's SmartPAR software.
  • A new raised system was introduced in April 2019 by the Hydroponics System International corporation to support the facilities that needed gutters that weren't at ground level.
  • The purchase of WiZ Connected (China), creators of the WiZ Wi-Fi-based connected lighting ecosystem, was announced by Signify Holdings in April 2019. The acquisition would aid the company's entry into the Wi-Fi-based smart lighting sector.

Indoor Farming Technology Market Scope

The indoor farming technology market is segmented on the basis of growing system, facility type, component, farm size and crop type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Growing System

  • Aeroponics
  • Hydroponics
  • Aquaponics
  • Soil-Based
  • Hybrid

Facility Type

  • Glass or Poly Greenhouses
  • Indoor Vertical Farms
  • Container Farms
  • Indoor Deep Water Culture (DWC) Systems

Component

  • Hardware
  • Climate control systems
  • Lighting systems
  • Communication systems
  • Sensors, system controls
  • Irrigation systems
  • Others
  • Software and Services
  • Web-Based
  • Cloud-Based

Farm Size

  • Large Farms
  • Small Farms

Crop Type

  • Fruits and Vegetables
  • Tomato
  • Lettuce
  • Bell & Chili Peppers
  • Strawberry
  • Cucumber
  • Leafy Greens
  • Lettuce
  • Kale
  • Spinach
  • Others
  • Herbs
  • Others
  • Herbs and Microgreens
  • Basil
  • Herbs
  • Tarragon
  • Wheatgrass
  • Flowers and Ornamentals
  • Perennials
  • Annuals
  • Ornamentals
  • Others

Indoor Farming Technology Market Regional Analysis/Insights

The indoor farming technology market is analyzed and market size insights and trends are provided by country, growing system, facility type, component, farm size 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.

U.S. in North America dominates the indoor farming technology market due to the fact that the country is the largest manufacturer and service provider of indoor farming technology. Increased focus on the research and development proficiencies will further widen the scope of growth for this country in North America.

The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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 provided are only related to the companies' focus related to indoor farming technology market.

Some of the major players operating in the indoor farming technology market are

  • Sananbio (U.S.)
  • Hawthorne Gardening Co. (U.S.)
  • Freight Farms, Inc. (U.S.)
  • OSRAM SYLVANIA Inc. (U.S.)
  • SUNCORE TILES (Canada)
  • Priva  (Netherlands)
  • Surna. (U.S.)
  • ZipGrow. (Canada)
  • LOGIQS B.V. (Netherlands)
  • GE CURRENT (U.S.)
  • Signify Holding. (Netherlands)
  • Argus Control Systems Limited (Canada)
  • LumiGrow. (U.S.)
  • Certhon (Netherlands)
  • iFarm (Finland)
  • Braingrid Corporation. (Canada)
  • Eden Green Technology. (U.S.)
  • NETAFIM (Israel)
  • Urban Crop Solutions (Belgium)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

FREQUENTLY ASK QUESTIONS

The North America Indoor Farming Technology Market is expected to show a value of USD USD 6.21 billion by 2029.
The North America Indoor Farming Technology Market is estimated to register a CAGR of 15.80% within the forecast period.
The major players operating in the North America Indoor Farming Technology Market are Sananbio (U.S.), Hawthorne Gardening Co. (U.S.), Freight Farms, Inc. (U.S.), OSRAM SYLVANIA Inc. (U.S.), SUNCORE TILES (Canada), Priva (Netherlands), Surna. (U.S.), ZipGrow. (Canada), LOGIQS B.V. (Netherlands), GE CURRENT (U.S.), Signify Holding. (Netherlands), Argus Control Systems Limited (Canada), LumiGrow. (U.S.), Certhon (Netherlands), iFarm (Finland), Braingrid Corporation. (Canada), Eden Green Technology. (U.S.), NETAFIM (Israel), Urban Crop Solutions (Belgium) among many others.
The major countries covered in the North America Indoor Farming Technology Market are U.S., Canada and Mexico.
Free Sample Report

CHOOSE LICENCE TYPE

  • 4200.00
  • 3500.00
  • 2000.00
  • 5500.00
  • 7500.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials