Indoor Farming Technology Global Market Report 2024 To 2033 | Advanced Nutrients Holdings Inc., Agrilution GmbH, American Hydroponics LLC, BrightFarms Inc

The Business Research Company recently released a comprehensive report on the Global Indoor Farming Technology Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 Drivers and Trends:

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.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

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

Indoor Farming Technology Market 2024 Key Insights:

• 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%.
• Vertical Farming's Surging Popularity In Europe Sparks Growth In The Indoor Farming Technology Market
• Strategic Partnerships Drive Innovation In Indoor Farming Technology
• North America was the largest region in the indoor farming technology market in 2023

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