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.
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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
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Rest of the World (RoW)
Middle East
South Africa and South America
This 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 https://www.lucintel.com/indoor-farming-technology-market.aspx or helpdesk@lucintel.com.
About Lucintel
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