Press release
Vertical Farming Market 2018 Global key Leaders: Aerofarms,Indoor Harvest Corporation, Illumitex, Hort Americas, Urban Crop Solutions, Agrilution
Vertical farming can be explained as a concept or practice by which crops are grown inside a controlled environment. It is basically the method by which crops are grown without soil and water. Also, in vertical farming crops are stacked in layers. Vertical farming comes in different shapes and sizes and they use various mechanisms such as hydroponics, aeroponics, among others.
The reasons contributing to the growth of vertical farming market are better quality of food, increasing population, less dependency on water & soil and increasing demand for food. Also, adoption of new technologies, zero usage of pesticides & fertilizers and implementation of artificial lights are expected to boost the market over the forecast period. However, factors such as initial investments expensive in the urban locations, energy consumption of artificial lighting is more and production of high value crops are hindering the growth of the vertical farming market.
Geographically, North America accounted for the largest market share in the global vertical farming market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2016-2022.
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Key Players
Aerofarms (U.S.),
Hort Americas (U.S.),
Indoor Harvest Corporation (U.S.),
Illumitex, Inc. (U.S.),
Koninklijke Philips N.V. (Netherlands),
Everlight Electronics co.(Taiwan),
Sky Greens (Singapore),
Agrilution (Germany),
Urban Crop Solutions (Belgium) among others.
The Global Vertical Farming Market is expected to reach approximately USD 6 billion by the end of 2022 with 21% CAGR during forecast period 2016-2022.
Regional Analysis
Vertical Farming Global Market is expected to be dominated by North America with the largest market share due to increasing population, employment generation and adoption of new technological solutions in this regions, and therefore accounting for a huge economy by 2022. Vertical Farming Market in Asia-Pacific market is expected to grow at a considerable rate of CAGR. The Asia Pacific region includes Chin, India and Japan is expected to boost this region majorly due to urbanization, less of fertile land and more investments for developing vertical farming systems. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of Vertical Farming solutions in the region.
Segments:
For the purpose of this study, Market Research Future has segmented the market of vertical farming into component, type, crop type and region.
Component
• Hardware
• Software
• Services
Type
• Hydroponic
• Aeroponic
• Aquaponic
Crop Type
• Broccoli
• Spinach
• Cucumbers
• Tomatoes
• Lettuce
• Peppers
• Strawberries
• Others
Region
• North-America
• Europe
• Asia-Pacific
• RoW
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Intended Audience
• Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Software Developers
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Farming in urban areas has become quite difficult due to the rising population, limited space, a fast pace of living, etc. which are driving the new technologies for cultivating the agricultural produce. Vertical Farming is one of the modern and advanced technologies which helps in growing more food in smaller spaces, offering an opportunity for growing fruits and vegetables in a controlled environment in metropolitan areas.
Vertically grown crops require minimum…
