Indoor farming technology market is projected to grow at a CAGR of 11.21% to reach US$29.430 billion by 2024, from US$15.560 billion in 2018. Growing global population and corresponding decline in the availability of arable land is one of the major drivers of indoor farming technology market. Increasing demand for fresh and green vegetables and fruits produced in city environments with minimum space and less water utilization is also boosting the adoption of various indoor farming technology solutions worldwide. Indoor farming technologies allow farmers to have control over the environment which result in lower loss of crops as compared to that in case of conventional farming, thus positively impacting the growth of indoor farming technology market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Indoor Farming Technology value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Indoor Farming Technology market.
Major industry players profiled as part of the report are Urban Crop Solutions, Illumitex Corporate, Signify Holding, Netafim, and Certhon among others.
The Indoor Farming Technology market has been analyzed through following segments:
By Facility Type
By Crop Type
Middle East and Africa