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. The global indoor farming technology market is projected to grow at a CAGR of 11.22% over the forecast period of 2019-2025.
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The indoor farming technology is experiencing rapid growth owing to increasing demand for fresh foods along with high nutrition value. Additionally, the need for higher yield using limited lands is also a major factor contributing the market growth. It is estimated that the average yield of tomatoes from the traditional method in 2016 was 1.85 pounds per square foot. Indoor hydroponic growers, on the other hand, reported average yields of 10.59 pounds per square foot. Therefore, indoor farm technology can help in the overall crop yield per unit area.
Besides this, growing awareness regarding the benefits of indoor farming technology among end-users coupled with a growing demand for pesticide- and herbicide-free food has triggered the growth of the market. The protection from the external weather condition and growing awareness reading the cost-effective method of farming are fueling the market growth. However, high initial investment requires for indoor farming technology could hamper the growth of the global indoor farming technology market. Furthermore, the development of innovative technologies is expected to create growth opportunities for the indoor farming technology market in the coming years.
North America is Dominating the Indoor Farming Technology Market
Geographically, the global indoor farming technology market is segmented into North America, Europe, Asia-Pacific and the Rest of World. North America is dominating the indoor farming technology market over the forecast period. The U.S. is the major contributor in the North America region followed by Canada and Mexico. The growth of the North America region is majorly driven due to the increased focus on implementing innovative and efficient technologies to enhance the yields.
On the other hand, Europe is expected to a significant share in the indoor farming technology market in 2017 owing to the high adoption of precision farming in this region. Asia-Pacific is expected to be the fastest-growing region in the indoor farming technology market over the next few years. The increasing number of indoor farms in countries such as China and Japan have driven the Asia-Pacific indoor farming technology market.
Segment Covered
The report on global indoor farming technology market covers segments such as growing system, component type, facility type, and crop type. On the basis of growing system, the sub-markets include hydroponics, aquaponics, aeroponics, soil-based, and hybrid. On the basis of component type, the sub-markets include hardware, software, and services. On the basis of facility type, the sub-markets include glass or poly greenhouses, container farms, indoor vertical farms, and indoor deep water culture system. On the basis of crop type, the sub-markets include fruits & vegetables, herbs & microgreens, flowers & ornamentals, and other crop types.
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Companies Profiled:
The report provides profiles of the companies in the market 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.
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.