According to a new market report by Lucintel, the future of the Indoor farming technology market looks promising with opportunities in the agriculture sector. The indoor farming technology market is expected to grow with a CAGR of 10% from 2019 to 2024. The major growth drivers for this market are rise in demand for fresh foods with higher nutritive value, need for higher yields using limited space and water, and lesser impact of external weather conditions.
In this market, hydroponics, aeroponics, aquaponics, soil-based, and hybrid are the growing system segments in the indoor farming technology market. Glass or poly greenhouses, indoor vertical farms, container farms, and indoor deep water culture systems are the facilities of indoor farming.
Within the indoor farming technology, fruits & vegetables, herbs & microgreens, and flowers & ornamentals are the major crop types that are cultivated in indoor farming.
North America is expected to be the largest market over the forecast period due to increasing focus on adopting innovative and efficient technologies to improve the yields.
Aero farms, Bowery Inc., Netafim, Argus Controls Systems, EVERLIGHT Electronics, Bright Farms Inc., Logiqs, Illumitex, Vertical Farm Systems, Hydrodynamics International, General Hydroponics, Richel Group, and Agrilution are among the major providers of indoor farming technology.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the indoor farming technology market by growing system, facility type, component, and region. Lucintel has prepared a comprehensive research report entitled " Indoor Farming Technology Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the Indoor farming technology market by growing system, facility type, component, and region as follows:
By Growing System [$M shipment analysis for 2013 – 2024]:
• Hydroponics
• Aeroponics
• Aquaponics
• Soil-based
• Hybrid
By Facility Type [$M shipment analysis for 2013 – 2024]:
• Glass or Poly Greenhouses
• Indoor Vertical Farms
• Container Farms
• Indoor Deep Water Culture (DWC) systems
By Component [$M shipment analysis for 2013 – 2024]:
• Hardware
• Software & services
By Crop Type [$M shipment analysis for 2013 – 2024]:
• Fruits & Vegetables
• Herbs & Microgreens
• Flowers & Ornamentals
• Others (cannabis and cannabis)
By Region [$M shipment analysis for 2013 – 2024]:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Spain
• Asia Pacific
o China
o India
o Japan
o South Korea
• Rest of the World (RoW)
o Middle East
o South Africa and South America
More than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link …[email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1.What are some of the most promising potential, high-growth opportunities for the indoor farming technology market by growing system (hydroponics, aeroponics, aquaponics, soil-based, and hybrid), facility type (glass or poly greenhouses, indoor vertical farms, container farms, and indoor deep water culture (dwc) systems), by component (hardware and software & services), crop type (fruits & vegetables, herbs & microgreens, flowers & ornamentals, and others), and region (North America, Europe, Asia Pacific, South America, and RoW)?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which regions will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges of the indoor farming technology market?
Q.5.What are the business risks and threats to the indoor farming technology market?
Q.6.What are emerging trends in the indoor farming technology market and the reasons behind them?
Q.7.What are some changing demands of customers in the indoor farming technology market?
Q.8.What are the new developments in the indoor farming technology market? Which companies are leading these developments?
Q.9.Who are the major players in the indoor farming technology market? What strategic initiatives are being implemented by key players for business growth?
Q.10.What are some of the competitive products and processes in the indoor farming technology market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11.What M & A activities did take place in the last five years in the indoor farming technology market?