Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for agriculture industry professionals · Friday, January 27, 2023 · 613,645,062 Articles · 3+ Million Readers

Indoor Farming Technology Market has witnessed a growth from USD 62.67 Billion from with a highest 9.5% CAGR

Emergen Research Logo

Emergen Research Logo

The increasing awareness among consumers regarding the benefits of consuming high-quality and fresh organic food products is driving the demand of the market.

VANCOUVER, BRITISH COLUMBIA, CANADA, November 22, 2022 /EINPresswire.com/ -- The global Indoor Farming Technology market will be worth USD 62.67 Billion by 2027, according to a current analysis by Emergen Research. 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.

Ability to manage the pH and nutrients with the help of hydroponics results in greater yield. Ease of operations and low installation cost has resulted in the increasing adoption of the hydroponics methods.

The practise of growing food and plants within the home using various technologies is known as indoor farming. This technique combines soil-based, aeroponic, aquaponic, and hybrid technologies to grow plants with enhanced nutrient levels. On small and large scales, indoor farming technology can be used in the home and in the commercial sector.

Download a PDF with Detail Analysis

Rising consumer knowledge of the advantages of consuming fresh, high-quality food is predicted to be the main driver of growth. Additionally, the expanding industry is being fueled by the rising need for food due to the expanding global population, particularly in developing nations like China and India. The desire for fresh foods with more nutrients, the need for higher yields with less space and water, and less reliance on the outside weather are some of the factors propelling the expansion of the indoor farming technology market. The market for indoor farming benefits from the advancement of affordable and cutting-edge technology.

The market for indoor farming technology is constrained, nevertheless, by high startup costs and restrictions on the types of crops that may be grown. Lack of skilled labour is one of the problems the indoor agricultural technology business is dealing with. The speed of indoor farming research and development is further slowed by financing restrictions at public institutions and colleges, which reduces the availability of information that would otherwise motivate farmers to spend.

Some Key Highlights 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.
The Hydroponics segment held the largest market share of Indoor Farming Technology in 2019. Growing awareness regarding the adverse effects of pesticides among consumers has increased the adoption of the hydroponics method.
The Fruits & Vegetable segment accounted for the largest market share in 2019. The increasing utilization of indoor farming for the cultivation of fruits & vegetables is expected to drive the segment's growth.
In order to produce crops correctly and without any agronomic restrictions, indoor farming technology integrates a variety of technologies, including big data analytics, robots, artificial intelligence (AI), and the internet of things (IoT). Alternative farming methods used in indoor farming, such as aquaponics, aeroponics, and hydroponics, allow for the non-traditional growth of plants.

Utilizing indoor farming technologies has as its main benefit the ability to boost crop productivity while utilising less land overall. In older techniques, sand-filled grow beds were utilised to irrigate crops like cucumbers and tomatoes using fish tank wastewater. With the development of technology, tools like HVAC, LED grow lights, aeration systems, irrigation systems, sensors, monitors, and other equipment are being used to grow crops efficiently indoors.

The prominent players profiled in the report are:

Everlight Electronics, Philips Lighting, Netafim, Illumitex, Inc., Argus Control Systems, Logiqs B.V., Freight Farms, Signify, BrightFarms, and American Hydroponics, among others.

Check Global Indoor Farming Technology Market Research Report in Detail@ https://www.emergenresearch.com/industry-report/indoor-farming-technology-market

Furthermore, the report covers a comprehensive overview of the key regions and market segmentation into types and applications. The regional analysis of the global Indoor Farming Technology market considers key geographical regions of the world to study different aspects of the market. The market is segmented into key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Emergen Research has segmented the global Indoor Farming Technology on the basis of Component, Facility Type, Growth Mechanisms, Crop Type:

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
The report covers the analysis of the factors anticipated to drive the Global Indoor Farming Technology Market growth over the forecast period of 2020-2027. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report considers 2019 as the base year and 2016-2018 as the historical years. It puts examines drivers and restraints of the Indoor Farming Technology market and analyzes their impact on the industry throughout the forecast period.

Key Benefits for Stakeholders:

The report provides an extensive analysis of the current and future trends in the global minimally invasive surgical systems market to elucidate the imminent investment pockets.
A detailed analysis of the factors that drive and restrict the growth of the minimally invasive surgical systems market is provided.
Extensive analysis of key segments demonstrates the types of energy devices, access equipment, and visualization & documentation systems used in minimally invasive surgeries.
A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.
Request Customization of the report @ https://www.emergenresearch.com/request-for-customization/327

Thank you for reading our report. Customization of this report is available as per the client’s requirements. Please connect with us to know more about the report, and our team will ensure you get the report tailored according to your needs.

Explore More Reports by Emergen Research:

Smart Farming Market

https://www.emergenresearch.com/industry-report/smart-farming-market

Electric Vehicle Battery Market

https://www.emergenresearch.com/industry-report/electric-vehicle-battery-market

Fingerprint Sensors Market

https://www.emergenresearch.com/industry-report/fingerprint-sensors-market

Blockchain Technology Market

https://www.emergenresearch.com/industry-report/blockchain-technology-market

Offshore Wind Energy Market

https://www.emergenresearch.com/industry-report/offshore-wind-energy-market

Indoor Farming Technology Market

https://www.emergenresearch.com/industry-report/indoor-farming-technology-market

Feminine Hygiene Products Market

https://www.emergenresearch.com/industry-report/feminine-hygiene-products-market

Skin Lightening Market

https://www.emergenresearch.com/industry-report/skin-lightening-market

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
+91 90210 91709
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Powered by EIN Presswire
Distribution channels: Technology


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release