Press release
Indoor Farming Market 2022 Insights Porter Five Forces Analysis Research Forecast to 2030
Along with significant data and other pertinent information, the study evaluates the competitive landscape and global market growth trend based on the business overview and helps businesses and investment organizations better grasp the market's growth characteristics.
The Global Indoor Farming Market is estimated to witness a rise in revenue from US$ 26.5 Billion in 2021 to US$ 62.0 Billion by 2030, registering a CAGR of 10.1% during the forecast period 2022-2030.
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Regional Analysis:
North America is expected to grow at a moderate rate, closely followed by Europe due to the well-developed infrastructure of these regions. Furthermore, the presence of various safety standards such as quiet operation, low emission, and others will contribute to the growth of the market.
The presence of developing economies such as India, China, etc., will drive the industry forward. It is majorly attributable to the growing urbanization and industrialization in the region. Further, the availability of cheap labor and raw materials has increased factory setup in the region. According to Invest India, the Parliament passed a bill with the aim to develop National Bank for Financing Infrastructure and Development (NaBFID) in order to invest in infrastructure projects in the country. Moreover, the same source estimates that infrastructure activities held a 13% share of the total FDI inflows of US$ 81.72 billion in In FY21.
COVID-19 Impact
Following the coronavirus pandemic, the market experienced a sharp decline in terms of revenue. The COVID-19 pandemic forced the imposition of a lockdown to reduce infection among the population across countries. Moreover, manufacturing companies rely heavily on the supply of raw materials and components from other countries around the world, which was halted during the pandemic. Thus, the negatively affected the industry.
Major Key Players in the Indoor Farming Market are:
AeroFarms
Agricool
Argus Control Systems Limited
Bowery Farming Inc.
BrightFarms
Everlight Electronics Co Ltd.
EXDIN Solutions
General Hydroponics
Gotham Greens
Grow Pod Solutions
Segmental Analysis:
The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Indoor Farming Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market's overall size.
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Segmentation Overview
By Growing System
Hydroponics
Aeroponics
Aquaponics
Soil-based
Hybrid
By Crop Type
Common crops
Lettuce
Chard
Cabbage
Kale
Tomatoes
Spinach
Herbs
Basil
Mint
Chives
Parsley
Microgreens
By Technology
Controlled Environment Agriculture
Dosing systems
Sterilization Systems
Chemical disinfection
Lighting
Fluorescent grow lights
LED lighting
Air control
CO2 gassing
Compressed CO2
The Internet of Things - IoT
Sensors
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
Rest of MEA
South America
Argentina
Brazil
Rest of Latin America
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About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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