Indoor Farming Technology Market worth $ 15.2 Billion in 2021 - Exclusive Report by xResearch offering Market Sizes, Forecast, & Competitive Landscape

According to a new report published by xResearch, titled, “Indoor Farming Technology Market Insights, Trends, Opportunity & Forecast, 2021–2030,” the global indoor farming technology market size is anticipated to witness moderate growth during the forecast period i.e. 2021-2030. The burgeoning concerns regarding food security; the growing demand for fresh, pesticide- and herbicide-free foods with high nutritional value among the population; the rising popularity and awareness regarding the benefits of indoor farming technology systems among people worldwide; and the increasing pressure on the agriculture industry to meet the growing demand for food are among the major factors contributing to the growth of the global indoor farming technology market.

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According to growing system, the hydroponics segment dominated the global indoor farming technology market in 2020. This trend is expected to remain unchanged throughout the forecast period of 2021-2030. On the other hand, the aeroponics segment is projected to register the highest CAGR in the market during the forecast period. According to facility type, the glass or poly greenhouse segment held the largest share of the global indoor farming technology market in 2020 and is anticipated to further retain its dominance in the market during the forecast period. On the other hand, the indoor vertical farm segment is expected to achieve the highest CAGR in the market over the forecast period. According to component, the hardware segment acquired the largest share of the global indoor farming technology market in 2020. The segment is projected to retain its lead and further witness substantial growth in the market during the forecast period. According to crop type, the fruits & vegetables segment dominated the global indoor farming technology market in 2020 and is projected to further maintain its position in the market during the forecast period. On the other hand, the herbs & microgreens segment is predicted to attain the highest CAGR in the market during the forecast period.

Geographically, the European region accounted for the largest share of the global indoor farming technology market in 2020, followed by North America. The trend is anticipated to continue over the forecast period of 2021-2030. Germany, Netherlands, Poland, Spain, Greece, France, and the U.K. are among the key contributors to the growth of the market in the region. The Asia Pacific region is expected to witness the highest growth in the global indoor farming technology market during the forecast period. Countries such as India, China, Japan, Taiwan, and Singapore are among the key contributors to the growth of the market in the region.

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Some of the major indoor farming technology companies profiled in the report include Hydrodynamics International, American Hydroponics, Richel Group, Vertical Farm Systems, General Hydroponics, Signify Holding, Everlight Electronics, Argus Control Systems, LumiGrow, and Netafim.

The global indoor farming technology market is segmented into growing system, facility type, component, crop type, and region. Based on growing system, the market is bifurcated into hydroponics, aeroponics, aquaponics, soil-based, and hybrid. Based on facility type, it is classified into glass or poly greenhouse, indoor vertical farm, container farm, and indoor DWC system. Based on component, it is classified into hardware, software & services, and integrated systems. Based on crop type, it is classified into fruits & vegetables, herbs & microgreens, flowers & ornamentals, and others.

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The global indoor farming technology market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

Key Insights of Indoor Farming Technology Market

• On the basis of growing system, the hydroponics segment dominated the global indoor farming technology market in 2020. The aeroponics segment is projected to register the highest CAGR in the market during the forecast period.
• On the basis of facility type, the glass or poly greenhouse segment held the largest share of the global indoor farming technology market in 2020 and is anticipated to further retain its dominance in the market during the forecast period. On the other hand, the indoor vertical farm segment is expected to achieve the highest CAGR in the market over the forecast period.
• On the basis of component, the hardware segment acquired the largest share of the global indoor farming technology market in 2020 and is projected to retain its lead further and witness substantial growth in the market during the forecast period.
• On the basis of crop type, the fruits & vegetables segment dominated the global indoor farming technology market in 2020 and is projected to further maintain its position in the market during the forecast period. On the other hand, the herbs & microgreens segment is predicted to attain the highest CAGR in the market during the forecast period.
• On the basis of region, Europe accounted for the largest share of the global indoor farming technology market in 2020, followed by North America. The trend is anticipated to continue over the forecast period of 2021-2030.
• On the basis of region, Asia Pacific is expected to witness the highest growth in the global indoor farming technology market during the forecast period.

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We unite the most profound insight over the vastest arrangement of capital-escalated businesses and markets. By interfacing information crosswise over factors, our analysts give our clients a wealthier, profoundly incorporated perspective of their industry. With experienced domain experts, xResearch strives to provide best solutions and accurate forecast which enables the client to take informed decisions.

This release was published on openPR.