Indoor Farming Technology - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Indoor Farming Technology Market is accounted for $28.32 billion in 2018 and is expected to reach $76.34 billion by 2027 growing at a CAGR of 11.6% during the forecast period. Rise in demand for fresh foods with higher nutritive value and need for higher yields using limited space and water are the major factors propelling the market growth. However, factors such as limitations on the type of crops that can be grown and high initial investment for setup are hampering the market growth.
Indoor farming technology is a method of growing crops or plants entirely inside the house using various technologies. This farming methodology includes various growing system 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.
Based on the growing system, the hydroponics segment is going to have a lucrative growth during the forecast period as application of hydroponics growth mechanism provides ample fresh produce and helps to mitigate most of the risks of shortage of food production because of exposure to climatic changes, soil contamination, limited space in urban areas and most importantly, low availability of water. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the growing number of indoor farming activities in countries such as China and Japan, and the climate variations in this region.
Some of the key players profiled in the Indoor Farming Technology Market include Vertical Farm Systems, Richel Group, Philips Lighting, Netafim, Lumigrow, Logiqs, Illumitex, Hydrodynamics International, General Hydroponics, Everlight Electronics, Argus Controls Systems, American Hydroponics and Agrilution.
Facility Types Covered:
• Indoor Vertical Farms
• Indoor Deep Water Culture (DWC) Systems
• Glass or Poly Greenhouses
• Container Farms
Growing Systems Covered:
• Software & Services
• Integrated Systems
Crop Types Covered:
• Fruits & Vegetables
• Flowers & Ornamentals
• Herbs & Microgreens
• Medicinal Crops
• Other Crop Types
End Users Covered:
• Small and Medium Enterprises (SMEs)
• Large enterprises
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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