Indoor Farming Technology Market Analysis, Detailed Study, Climate Changes, Geographic Development, Sales Forecast 2025
Indoor Farming Technology Market Analysis, Detailed Study, Climate Changes, Geographic Development, Sales Forecast 2025. Indoor farming technology market was valued at USD 39.8 billion in 2017 and is expected to reach USD 41.0 billion in 2025, growing at a healthy CAGR of 9.6% for the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Vital Participants in Indoor Farming Technologies Market:
- Philips Lighting
- Everlight Electronics
- Argus Controls Systems
The other players in the market 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, and many more.
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The global indoor farming technology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cyber security as a service market for global, Europe, North America, Asia-Pacific, South America, and Middle East & Africa.
- Lesser impact of changing weather conditions
- Improve yield of crops and reduce crop wastage
- Rise in investment of overseas business lines in agricultural operations
- Growth in demand for food, rapid urbanization, and increase in need for new productive soils
- Lighting challenges compared with natural lighting
- High initial investment for setup
- Limitations on the type of crops that can be grown
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Indoor farming technology is a method of growing crops or plants entirely inside the house using various technologies. This farming methodology includes growing system such as aeroponics, soil-based, aquaponics and hybrid technologies to provide artificial lights for growing plants with the nutrients. Indoor farming technology can be used in home and commercially on both small and large scales. This technology is being used to grow fruits & vegetables, herbs & microgreens flowers & ornamentals. The glass or poly greenhouses, container farms, indoor vertical farms and indoor deep water culture (DWC) systems are the facility type of indoor farming technology market. The increase in demand for fresh foods with high nutritive value, need for higher yields using limited space and water has led to the growth of indoor farming technology market. The Asia-Pacific region was projected to grow at the highest rate whereas the Americas and European region also contributed to global indoor farming technologies market in 2017. One of the major factors driving the growth of the indoor farming technology market is the lesser impact of changing weather conditions.
By Growing System
- Climate Control Systems
- System Controls
- Lighting Systems
- Communication Systems
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