Vertical Farming Market size is Projected to Reach $24.11 Billion by 2030 | Registering a CAGR of 22.9%

Allied Market Research published a report, titled, "Vertical Farming Market by Structure (Building-based Structure and Container-based Structure), Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics), and Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030".

The vertical farming market size was valued at $3.24 billion in 2020, and is projected to reach $24.11 billion by 2030, registering a CAGR of 22.9%

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Some of the prime drivers of the vertical farming industry are surge in penetration of the aging infrastructure is further anticipated to drive the vertical farming market growth. The market for vertical farming would be driven by investing in new technology aimed at increasing system life. Another key factor driving the growth of the vertical farming market is the increased focus on infrastructure throughout the world.

Vertical farming provides monitoring technology to alert maintenance workers when outdated and overused equipment is about to fail, allowing them to make better decisions by providing real-time data on problems and possibilities for improvement. Aside from the limits listed above, there are others, such as environmental factors such as temperature and humidity, as well as groundwater seepage, which can have an influence on the operation of switchgear electrical networks, particularly those situated outside. The changing times necessitate changes in the fundamentals as well. In this situation, even small and medium-sized organizations (SMEs) are taking advantage of collocation data hubs' immense potential and the internet's enormous capacity.

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Businesses can evaluate the Porter's Five Forces Analysis to determine the structure, level of competition, and industry's strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company's success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.

Competitive Analysis:
The vertical farming industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

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Some of the major key players of the global vertical farming market include:
• 4D Bios Inc.
• AeroFarms
• Agrilution
• AMHYDRO (American Hydroponics)
• Everlight Electronics Co., Ltd.
• Hort Americas
• Illumitex Inc.
• Koninklijke Philips N.V.
• Urban Crop Solutions, and Sky Greens.

Top Impacting Factors
As per the vertical farming market outlook, rise in popularity of organic food, optimal use of vertical space and balanced energy utilization, ease of crop monitoring and harvesting, and decrease in arable land are the major factors influencing the vertical farming market growth. High initial investments and involvement of emerging technology, however hamper the market growth. Nonetheless, the rise in the urban population and increased adoption of technology- driven agriculture provide lucrative vertical farming market opportunities to the players.

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Key Benefits for Stakeholders:
• This study comprises analytical depiction of the global vertical farming market growth along with the current trends and future estimations to depict the imminent investment pockets.
• The overall vertical farming market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current vertical farming market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and the vertical farming market share of key vendors.
• The report includes the market trends and the vertical farming market opportunity of key vendors.

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