Press release
Indoor Farming Technology Market Report 2024: Strategies And Recent Developments | Advanced Nutrients Holdings Inc., Agrilution GmbH, American Hydroponics LLC, BrightFarms Inc
Indoor Farming Technology Market Size
The Business Research Company offers in-depth market insights through Indoor Farming Technology Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The indoor farming technology market size has grown rapidly in recent years. It will grow from $33.19 billion in 2023 to $37.51 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to increased demand for sustainable agriculture, urbanization, local food movement, increasing population.
The indoor farming technology market size is expected to see rapid growth in the next few years. It will grow to $60.07 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to climate change, water scarcity, consumer preferences, government support and incentives, global pandemic and food security concerns. Major trends in the forecast period include increased investment, technological innovation, vertical farming, controlled environment agriculture (cea), led lighting advancements, robotics and automation, ai and data analytics, novel crops and varieties, collaboration and partnerships.
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Market Segmentation:
The indoor farming technology market covered in this report is segmented -
1) By Crop Type: Fruits And Vegetables, Flowers And Ornamentals, Herbs And Microgreens
2) By Component: Hardware, Software And Services, Integrated Systems
3) By Facility Type: Glass or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture Systems
4) By Growing System: Aeroponics, Aquaponics, Hybrid
Major Driver - Vertical Farming's Surging Popularity In Europe Sparks Growth In The Indoor Farming Technology Market
The rising adoption of vertical farming in agriculture is likely to contribute to 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, that is used for sharing farming experiences, Europe is on 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 produces around 400 tons of vegetables, such as kale, coriander, and radish, per year using vertical farming. The company has around 5,000 square meters of space for vertical farms in Europe. Therefore, the adoption of vertical farming is driving the growth of indoor farming technology.
Competitive Landscape:
Major companies operating in the indoor farming technology market report are Advanced Nutrients Holdings Inc., Agrilution GmbH, American Hydroponics LLC, BrightFarms Inc., General Hydroponics Inc., Hydrodynamics International Inc., Logiqs B. V., Netafim USA, Richel Group SA, Vertical Farm Systems Pty Ltd, AeroFarms LLC, Bowery Farming Inc., Emerald Harvest Inc., Freight Farms Inc., FreshBox Farms LLC, Grobo Inc., Metropolis Farms Inc., The Scotts Miracle-Gro Company, VitaLink Limited, Plenty Unlimited Inc., Crop One Holdings Inc., 80 Acres Farms LLC, Oasis Biotech Limited, AppHarvest Inc., Gotham Greens Holdings LLC, Green Sense Farms Holdings Inc., Lufa Farms Inc., Farm. One Inc., Infarm AG, Square Roots Inc., iFarm Project Ltd., Urban Crop Solutions NV, Local Roots Farms LLC, Kalera Inc., Valoya Oy, Heliospectra AB, Fluence by OSRAM GmbH, AEssenseGrows Inc., Nordic Harvest A/S
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Top Trend - Strategic Partnerships Drive Innovation In Indoor Farming Technology
Strategic partnerships are shaping the indoor farming technology market. The companies that operate in unified endpoint management are undergoing partnerships. For instance, in May 2023, Seasony a Denmark-based robotics company partnered with iFarm LLC. With this partnership, customers of iFarm would be able to automate transportation and monitoring operations by integrating the Watney mobile robot platform into agricultural installations. Through this partnership, farmers would have access to an effective and sustainable indoor farming option, contributing to a revolution in the agricultural sector. IFarm LLC is a Finland-based company that provides indoor farming technology .
The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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