Vertical Farming's Surging Popularity In Europe Sparks Growth In The Indoor Farming Technology Market: Powering Innovation and Expansion in the Indoor Farming Technology Market by 2025

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What Is the Expected CAGR for the Indoor Farming Technology Market Through 2025?
In the recent past, there has been a swift expansion in the market size of indoor farming technology. It's projected to escalate from $37.22 billion in 2024 to $41.84 billion in 2025, registering a compound annual growth rate (CAGR) of 12.4%. The upward trend in the historical phase can be associated with the rising demand for sustainable agriculture, urbanization, local food movement, and population growth.

What's the Projected Size of the Global Indoor Farming Technology Market by 2029?
Expectations for the indoor farming technology market project significant expansion in the coming years, with predictions estimating the market size to reach $66.42 billion by 2029, showing a compound annual growth rate (CAGR) of 12.2%. Factors contributing to this expected growth during the forecast period include climate change, limited water resources, shifting consumer tastes, governmental support and incentives, worldwide pandemic, and concerns regarding food security. Foreseen trends during this forecast period encompass increased investments, tech advancements, vertical farming, the implementation of controlled environment agriculture (CEA), progress in led lighting technologies, robotics and automation, AI and data interpretation, the introduction of new crops and varieties, as well as collaborations and partnerships.

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Top Growth Drivers in the Indoor Farming Technology Industry: What's Accelerating the Market?
The increasing uptake of vertical farming in the agricultural sector is expected to foster the expansion of the indoor farming technology market. Vertical farming offers numerous benefits such as maximizing crop growth, lessening water consumption, minimal reliance on outdoor weather or temperatures, reducing labor costs, and improving energy subtlety. As noted in a forum geared towards exchanging farming experiences, Europe is witnessing a significant surge in the adoption of vertical farming. Various countries vie for a dominant position in this market, leading to the emergence of new farms. For example, Jones Food Company in the UK, using vertical farming, produces approximately 400 tons of vegetables, including kale, coriander, and radish, annually. The company utilizes about 5,000 square meters of space for vertical farms in Europe. Consequently, the rise in vertical farming is propelling the development of indoor farming technology.

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What Are the Key Trends Driving Indoor Farming Technology Market Growth?
Indoor farming technology is being molded through strategic alliances. Firms that work in the area of unified endpoint management are participating in collaborations. A case in point is Seasony, a robotics enterprise from Denmark, entered into a partnership with iFarm LLC in May 2023. This collaboration enables iFarm's customers to automate transport and surveillance activities by incorporating the Watney mobile robot platform in agricultural facilities. This cooperation provides farmers with a potent and environmentally-friendly indoor farming alternative, leading to a significant transformation in the agricultural industry. IFarm LLC, a Finnish company, supplies indoor farming technology.

What Are the Main Segments in the Indoor Farming Technology Market?
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

Subsegments:
1) By Fruits And Vegetables: Tomatoes, Lettuce, Peppers, Cucumbers, Strawberries
2) By Flowers And Ornamentals: Cut Flowers, Potted Plants, Foliage Plants
3) By Herbs And Microgreens: Basil, Cilantro, Chives, Radish Microgreens, Other Herbs And Microgreens

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Which Top Companies are Driving Growth in the Indoor Farming Technology Market?
Major companies operating in the indoor farming technology market include 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

Which Regions Will Dominate the Indoor Farming Technology Market Through 2029?
North America was the largest region in the indoor farming technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor farming technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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