Global Indoor Farming Technology Market Will Experience Robust Growth Over the Next Few Years || Advanced Nutrients, Agrilution GmbH, American Hydroponics, BrightFarms

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Indoor Farming Technology Market Size, Growth Rate, And Forecast

The global indoor farming technology market size grew from $29.35 billion in 2022 to $32.95 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The indoor farming technology market size is expected to grow to $53.31 billion in 2027 at a CAGR of 12.8%.

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Indoor Farming Technology Market Drivers

The rising adoption of vertical farming of agriculture is likely to contribute the growth of the indoor farming technology market. Some of the main advantages of vertical farming are optimized crop growth, reduced water usage, minimal dependence on external weather conditions or temperatures, decreased labor costs, and better energy conservation. According to a forum, which is used for sharing farming experience, Europe is at a significant rise when it comes to vertical farming. Many countries compete to dominate this market, which results in the rise of many new farms. For instance, in the U.K., Jones Food Company producing around 400 tons of vegetables, such as kale, coriander, and radish, per year using vertical farming. The company has around 5000 square meters of space for vertical farm in Europe. Therefore, adoption of vertical farming is driving the growth for indoor farming technology.

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Indoor Farming Technology Market Segments

• By Crop Type: Fruits And Vegetables, Flowers And Ornamentals, Herbs And Microgreens

• By Component: Hardware, Software And Services, Integrated Systems

• By Facility Type: Glass or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture Systems

• By Growing System: Aeroponics, Aquaponics, Hybrid

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the indoor farming technology market.

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Indoor Farming Technology Market Key Players
Major competitors in the Inindoor farming technology market are Advanced Nutrients, Agrilution GmbH, American Hydroponics, BrightFarms, General Hydroponics, Hydrodynamics International, Logiqs Vertical Farming, Netafim.

The Business Research Company's "Global Indoor Farming Technology Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Indoor Farming Technology Market Include:
1. Executive Summary
2. Indoor Farming Technology Market Characteristics
3. Indoor Farming Technology Market Trends And Strategies
4. Indoor Farming Technology Market - Macro Economic Scenario
5. Indoor Farming Technology Market Size And Growth
………………
27. Indoor Farming Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Indoor Farming Technology Market
29. Indoor Farming Technology Market Future Outlook and Potential Analysis
30. Appendix

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