The Infinium Global Research analyzes the Indoor Farming Technology Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global indoor farming technology market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of indoor farming technology. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the indoor farming technology market during the period.
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Increasing Awareness Regarding the Benefits of Indoor Farming Technology is Also Triggering the Growth of the Market
A recent report published by Infinium Global Research on the global indoor farming technology market is driven by the expanding demand for fresh food coupled with high nutrition value. Additionally, increasing awareness regarding the benefits of indoor farming technology is also triggering the growth of the market over the forecast period. Furthermore, reduction in soil-borne insects, herbicides, and pesticides free food and protection from the weather condition are some factor supporting factor fuels the market growth. However, high initial investment and less awareness regarding indoor farming technology among emerging countries are one of the factors limiting the growth of the indoor farming technology market. Furthermore, expanding production of biopharmaceutical product is anticipated to creates an opportunity for the indoor farming technology market in the coming years.
Indoor Farming Technology Market: Segmentation
The report on global indoor farming technology market has been broadly classified into the growing system, component type, facility type, and crop type. Based on growing system, the market is further bifurcated into hydroponics, aquaponics, aeroponics, soil-based and hybrid. The component type is further sub-segmented into hardware, software, and services. The hardware segment dominated the market as they include sensors, control system, and irrigation system. By facility type, the global indoor farming technology market is divided into glass or poly greenhouses, container farms, indoor vertical farms, indoor deep water culture system. On the basis of crop type, the market is divided into fruits & vegetables, herbs & microgreens, flowers & ornamentals and other crop types.
North America Holds the Largest Market Share of the Global Indoor Farming Technology Market
Among all-region, North America holds the largest market share of the global indoor farming technology market. The growing supports from the government and non-government bodies have raised the demand for the market in this region. In the North America region, the U.S. is expected to be the major contributors in this market. The factors such as the high adoption of precision farming drive the growth of Europe indoor farming technology market over the forecast period. On the other hand, the growth in rapid population along with the need for higher yield contributes to the growth of indoor farming technology market in Asia Pacific region. The growth of this region is attributed owing to countries such as China and Japan. The middle East and Africa are expected to experience steady growth in this market throughout the forecast period.
Indoor Farming Technology Market: Competitive Analysis
The global Indoor Farming Technology Market comprises with the players such as Agrilution, Richel Group, General Hydroponics, Hydro Dynamics International, Vertical Farm Systems, Illumitex, Logiqs B.V., LumiGrow, Argus Control Systems Ltd., Netafim and Philips Lighting. Some of players are adopting key strategies such as mergers and acquisitions as well as incurring investments for setting up of farms globally. For instance, AeroFarms, the US indoor farming company, has raised $100m to further expand its warehouses of stacked growing trays and branch out into different produce.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the indoor farming technology.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.