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The increasing awareness among consumers regarding the benefits of consuming high-quality and fresh organic food products is driving the demand of the market.
VANCOUVER, BC, CANADA, March 31, 2022 /EINPresswire.com/ — The global Indoor Farming Technology market will be worth USD 62.67 Billion by 2027. The growth of this market can be the rising demand for health-conscious consumers for high-quality and fresh organic foods. The rising incidence of chronic diseases among consumers has shifted their preferences towards high-quality organic food as they are more nutritious, healthier, and safer. Rapid urbanization in the emerging economies and the increasing purchasing power of the consumers is driving the growth of the indoor farming technology market. Growing initiatives to develop an independent farming technique having less impact on climate is anticipated to fuel the development of the indoor farming system.
Ability to manage the pH and nutrients with the help of hydroponics results in greater yield. Ease of operations and low installation cost has resulted in the increasing adoption of the hydroponics methods.
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The Global Indoor Farming Technology Market Research Report added by Emergen Research to its expanding repository is an all-inclusive document containing insightful data about the Indoor Farming Technology market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry. The report sheds light on the minute details of the Indoor Farming Technology industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2027. The report assesses the historical data and current scenario to offer accurate estimations of the Indoor Farming Technology market in the coming years.
Report Objective:
The report offers a complete analysis of the global Indoor Farming Technology market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations. Everlight Electronics, Philips Lighting, Netafim, Illumitex, Inc., Argus Control Systems, Logiqs B.V., Freight Farms, Signify, BrightFarms, and American Hydroponics, among others are some of the top companies profiled in the report.
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The report further divides the Indoor Farming Technology market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Indoor Farming Technology market.
Emergen Research has segmented the global Indoor Farming Technology on the basis of Component, Facility Type, Growth Mechanisms, Crop Type, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Software & Services (web-based, cloud-based)
Hardware (Lighting Systems, Irrigation Systems, Sensors, Climate Control Systems)
Facility Type Outlook (Revenue, USD Billion; 2017-2027)
Indoor Deep Water Culture (DWC) systems
Indoor vertical farms (Shipping Container, building-based)
Glass or poly greenhouses
Growth Mechanisms Outlook (Revenue, USD Billion; 2017-2027)
Aeroponics
Hydroponics
Aquaponics
Hybrid
Soil-based
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
Herbs & microgreens
Fruits & Vegetables
Flower & ornamentals
Others
Key Highlights from the Report
In March 2020, an expansion of collaboration between Signify and Planet Farms, an operator of vertical farms based in Italy, Europe. The collaboration is expected to boost the quality and yield of the crops with the help of the Philips GreenPower LED production.
The Hardware segment held the largest market share of 59.4% in 2019. The increasing need to protect the crops from severe climatic conditions and maintain optimum growth conditions is expected to drive the hardware solutions' growth.
Indoor vertical farms are forecasted to grow with the fastest CAGR of 10.1% over the forecast period. The increasing demand for health-conscious consumers for high-quality organic crops has increased the adoption of indoor vertical farms.
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Major regions include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report studies the market in these regions on the basis of demand and trends, consumer behavior and preferences, government initiatives and regulatory framework, economic growth, technological developments, supply and demand, production and consumption patterns, import/export, and presence of key players in each region.
Key Regions Analyzed in the Report:
North America
Canada
U.S.
Mexico
Europe
Germany
Italy
U.K.
France
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of APAC
Latin America
Brazil
Argentina
Chile
Peru
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
U.A.E
Rest of Middle East & Africa
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Indoor Farming Technology market?
What are the key product types and applications of the Indoor Farming Technology industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Indoor Farming Technology market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Indoor Farming Technology Market by 2027?
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