Global Indoor Farming Technology Market Overview
Indoor farming technology market accounted for USD 14.5 billion in 2020 and is estimated to be USD 34.19 billion by 2030 and is anticipated to register a CAGR of 9.0%.
Indoor farming is a method of growing crops and plants inside the house by utilization of artificial control of light, environmental control such as humidity, temperature, and gases and fertigation. Indoor farming is used to support local food supplies and provide fresh produce to the consumers in large cities on a large scale. Indoor farms produce large numbers of crops in a small area than that can be produced in outdoor farms. By using artificial intelligence and digital monitoring to mimic nature indoors by controlling and optimizing factors like climate, nutrients, and temperature. Various types of modern farming methods which are used nowadays are agribusiness, intensive farming, organic farming, and sustainable agriculture, etc. Farmers are now able to buy and sell their products in the world markets.
Global Indoor Farming Technology Market Drivers & Restraints
Rising demand for fresh foods
Increasing demand for fresh foods with high nutritive value and higher yields using limited space and water is a key factor propelling growth of the indoor farming technology market. Growing population across the globe, coupled with increasing new technologies is expected to support growth of the target market. Traditional farming is based on natural climatic condition. Also, some crops are season specific as well as region specific. In order to overcome these problems, the indoor farming technology is used which is boosting growth of the global market.
However, this type of farming technology is highly costly and requires a continuous maintenance are restraining factors of the target market.
Global Indoor Farming Technology Market Segmentations & Regional Insights
The indoor farming technology market is segmented based on growing system, components, facility type, crop type, and region.
On the basis of growing system of global indoor farming market, the target market has been segmented into hydroponics, aeroponics, aquaponics, soil-based, and hybrid. On the basis of components, the target market has been segmented into hardware and software and services. On the basis of facility type the target market has been segmented into glass or poly greenhouses, container farms, indoor vertical farms, and indoor deep-water culture (DWC) systems. On the basis of crop type the target market has been segmented into fruits and vegetables, herbs and microgreens, flowers and ornamentals, and cannabis.
Regional Insights:
On region the indoor farming technology market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to account major market share in terms of revenue as compared to that of other regions. North America is currently dominating the target marker due to R&D in farming, investments in agriculture, development in advanced technology etc. are driving the growth of the target market.
Indoor Farming Technology Market Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2020 |
|
Forecast period |
2020 – 2030 |
|
Market representation |
Revenue in USD Billion & CAGR from 2020 – 2030 |
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Market Segmentation |
By Growing System- Hydroponics, Aeroponics, Aquaponics, Soil-Based, and Hybrid By Components- Hardware, Software, and Services By Facility Type- Glass or Poly Greenhouses, Container Farms, Indoor Vertical Farms, and Indoor Deep-Water Culture (DWC) Systems By Crop Type– Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals, and Cannabis |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the indoor farming technology market report based on growing system, components, facility type, crop type, and region.
Indoor Farming technology Market, By Region:
- North America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- U.S.
- Canada
Global Indoor Farming Technology Market Competitive Landscape & Key Players
The key players operating in the indoor farming technology market includes Philips Lighting B.V., Netafim Ltd., Argus Controls Systems Ltd., EVERLIGHT Electronics CO. Ltd., LumiGrow, Inc., Logiqs AS, Illumitex, Inc., Hydrodynamics International ltd., General Hydroponics Inc., Richel Group S.A., and agrilution GmbH.
Netafim Ltd.
Netafim, the global leader of sustainable precision irrigation solutions and agricultural projects, announced that they will launch several new products at EIMA, one of the premiere global agriculture events.
Global Indoor Farming Technology Market Company Profile
- Philips Lighting B.V
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Netafim Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Argus Controls Systems Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- EVERLIGHT Electronics CO. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- LumiGrow, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Logiqs AS
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Illumitex, Inc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hydrodynamics International ltd.,
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Hydroponics Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Richel Group S.A.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Agrilution GmbH.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Indoor Farming Technology Market Highlights
FAQs
The Global Indoor Farming Technology Market report segments the market basis into growing system, components, facility type, crop type and region.
A key factor driving the worldwide indoor farming technology market is rising demand for fresh foods with high nutritive content and higher yields while using less space and water.
North America holds highest share in 2021.
The leading players operating in the Indoor Farming Technology Market includes Philips Lighting B.V., Netafim Ltd., Argus Controls Systems Ltd., EVERLIGHT Electronics CO. Ltd., LumiGrow, Inc., Logiqs AS, Illumitex, Inc., Hydrodynamics International ltd., General Hydroponics Inc., Richel Group S.A., and agrilution GmbH.