Vertical Farming Market Key Players - Agrilution , Aerofarms , Indoor Harvest Corporation , Koninklijke Philips N.V. , forecast to 2022

Market Scenario:

Vertical farming can be explained as a concept or practice by which crops are grown inside a controlled environment. It is basically the method by which crops are grown without soil and water. Also, in vertical farming crops are stacked in layers. Vertical farming comes in different shapes and sizes and they use various mechanisms such as hydroponics, aeroponics, among others.

The reasons contributing to the growth of vertical farming market are better quality of food, increasing population, less dependency on water & soil and increasing demand for food. Also, adoption of new technologies, zero usage of pesticides & fertilizers and implementation of artificial lights are expected to boost the market over the forecast period. However, factors such as initial investments expensive in the urban locations, energy consumption of artificial lighting is more and production of high value crops is hindering the growth of the vertical farming market.

Geographically, North America accounted for the largest market share in the global vertical farming market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2016-2022.
The Global Vertical Farming Market is expected to reach approximately USD 6 billion by the end of 2022 with 21% CAGR during forecast period 2016-2022.

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Major Key Players

• Agrilution (Germany),
• Aerofarms (U.S.),
• Indoor Harvest Corporation (U.S.),
• Koninklijke Philips N.V. (Netherlands),
• Everlight Electronics co.(Taiwan),
• Illumitex, Inc. (U.S.),
• Sky Greens (Singapore),
• Hort Americas (U.S.),
• Urban Crop Solutions (Belgium)

Regional Analysis:

Regionally, North-America accounted for the largest market share, because of increasing population, employment generation and adoption of new technological solutions
However, Asia-Pacific is expected to grow over the forecast period 2016-2022. Countries such as China and Japan is expected to boost this region majorly due to urbanization, less of fertile land and more investments for developing vertical farming systems.

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Segments:
For the purpose of this study, Market Research Future has segmented the market of vertical farming into component, type, crop type and region.

Component
• Hardware
• Software
• Services
Type
• Hydroponic
• Aeroponic
• Aquaponic
Crop Type
• Broccoli
• Spinach
• Cucumbers
• Tomatoes
• Lettuce
• Peppers
• Strawberries
• Others
Region
• North-America
• Europe
• Asia-Pacific
• RoW

Intended Audience
• Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Software Developers
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors

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This release was published on openPR.