A recent report published by Infinium Global Research on the indoor
farming technology market provides an in-depth analysis of segments and
sub-segments in the global as well as regional indoor farming technology
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional indoor farming technology market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global indoor farming technology market. According
to the report, the global indoor farming technology market is projected to grow
at a CAGR of 11.22% over the forecast period of 2019-2025.
The indoor farming technology is experiencing rapid growth owing
to increasing demand for fresh foods along with high nutrition value.
Additionally, the need for higher yield using limited lands is also a major
factor contributing the market growth. It is estimated that the average yield
of tomatoes from the traditional method in 2016 was 1.85 pounds per square foot.
Indoor hydroponic growers, on the other hand, reported average yields of 10.59
pounds per square foot. Therefore, indoor farm technology can help in the
overall crop yield per unit area. Besides this, growing awareness regarding the
benefits of indoor farming technology among end-users coupled with a growing
demand for pesticide- and herbicide-free food has triggered the growth of the
market. The protection from the external weather condition and growing
awareness reading the cost-effective method of farming are fueling the market
growth. However, high initial investment requires for indoor farming technology
could hamper the growth of the global indoor farming technology market.
Furthermore, the development of innovative technologies is expected to create
growth opportunities for the indoor farming technology market in the coming
Geographically, the global indoor farming technology market is
segmented into North America, Europe, Asia-Pacific and the Rest of World. North
America is dominating the indoor farming technology market over the forecast
period. The U.S. is the major contributor in the North America region followed
by Canada and Mexico. The growth of the North America region is majorly driven due
to the increased focus on implementing innovative and efficient technologies to
enhance the yields. On the other hand, Europe is expected to a significant
share in the indoor farming technology market in 2017 owing to the high adoption of
precision farming in this region. Asia-Pacific is expected to be the
fastest-growing region in the indoor farming technology market over the next
few years. The increasing number of indoor farms in countries such as China and
Japan have driven the Asia-Pacific indoor farming technology market.
The report on global indoor farming technology market covers
segments such as growing system, component type, facility type, and crop type.
On the basis of growing system, the sub-markets include hydroponics,
aquaponics, aeroponics, soil-based, and hybrid. On the basis of component type,
the sub-markets include hardware, software, and services. On the basis of
facility type, the sub-markets include glass or poly greenhouses, container
farms, indoor vertical farms, and indoor deep water culture system. On the
basis of crop type, the sub-markets include fruits & vegetables, herbs
& microgreens, flowers & ornamentals, and other crop types.
The report provides profiles of the companies in the market such
as Agrilution, Richel Group, General Hydroponics, Hydro Dynamics International,
Vertical Farm Systems, Illumitex, Logiqs B.V., LumiGrow, Argus Control Systems
Ltd., Netafim, and Philips Lighting.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of indoor farming
technology market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the market
share of the leading players.