Global Indoor Farming Technology Market – Industry Trends and Forecast to 2030

Indoor Farming Technology Market Analysis and Size

Indoor farming technology is accomplished for producing a higher yield than conventional farming. A measured environment inside the premises of an inside farming campus creates the best-growing conditions for the farmers to grow a crop from the seed till the reaping stage arrives. Indoor farms can increase the yield by applying additional layers and cumulating the growing area. This feature turns into a driving factor for indoor farming technology.

Data Bridge Market Research analyses that the indoor farming technology market, valued at USD 29.35 million in 2022, will reach USD 69.61 million by 2030, growing at a CAGR of 11.4% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Indoor Farming Technology Market Scope and Segmentation  

Market Definition

Indoor farming is the process of growing plants in an indoor atmosphere or the crops are not exposed to the external environment. This technique of farming usually instructs techniques such as hydroponics and the crops feed on artificial lights for their nourishment. Fruits, herbs, and vegetables are the furthermost popular types grown indoors. Indoor farms can be functioned on a large scale and can be shaped in small areas or basements. Some indoor farms which are being operated at greenhouses can use a combination of natural and artificial resources. Indoor farming technology desists from using any insecticides and no fungicides so that the food is healthier and safer.

Indoor Farming Technology Market Dynamics

Drivers

• Higher yields need limited space and water.

One of the key aids of indoor farming technology is its higher yield compared to conventional farming methods, enclosed services are used in indoor farming which creates the best growing circumstances for farmers to grow a crop from seed to the harvesting stages. Lesser time and best higher yields in each cycle with limited land area. For instance, USDA says, in 2016 the average yield of seeds grown in greenhouse hydroponics was 10.59 pounds per square foot, and that of conventionally grown seeds was 1.85 pounds per square foot .so, indoor farms can increase the overall crop yield by stacking additional layers and increasing the growing area, it says that as compare to traditional farming farmers need less space for growing large amount of crop which will drive the growth of indoor farming technology market.

• Acceptant of indoor farming technology due to high benefit 

Indoor vertical farming has given new technology for agriculture and is rapidly creating the attention of newer generations. Indoor farming technology allows optimizing of crop yield and is more environmentally sustainable and low-cost as compared to other conventional farming approaches. Some major benefits of indoor farming are optimized crop growth, reduced water usage, less necessity on outdoor weather conditions or temperatures, cut labor costs, and better energy conservation which indoor farming practices worldwide, which is expected to drive the market growth of indoor farming technology

Opportunities

• Low-cost technology

Major technologies utilized in indoor farming do not have a high commercial cost record. Research and development are still being directed to ascertain the impact of these technologies on the shelf life of plants. Research conducted at the Lighting Research Centre (New York), the impact of LED lighting on plants was studied, and it showed positive results. Technology is in the introductory stage and low in cost as compared to traditional farming moreover technology is making farming effective which is creating opportunities for indoor farming technology to grow

• High population and less availability of conventional farming land

The rising problem of less land available for farming or food production, according to the growing demand of the rapidly growing population which making people adoption of vertical farms over the world. The scarcity of fertile land has been worsened by increasing urbanization, limited water supply, water pollution, and ongoing climate change are the major restrain for conventional farming, which creates an opportunity for indoor farming technology to grow

Restraints/Challenges

• Lack of passable funding

In agriculture-based businesses, limited funding decreases the pace of research and development for indoor farming in government institutes or private universities, which, is limiting the availability of data and information, due to which investors are not willing to invest their economy and time in indoor farming, which decreases the adoption of indoor farming, as a result, lack of investment may hinder the market of indoor farming technology.

• High initial set-up cost

The initial cost of the indoor farming setup is more compared to the investment required in traditional farming. One of the main factors responsible for the high investment is the cost of urban land, which is higher than farmland. Furthermore, energy accounts for a higher percentage of operating costs for indoor farming. For instance, in vertical indoor farming operations, lights run for 16 hours per day, while in greenhouses, light is applied to plants for 9 hours per day in winter. High setup cost is one of the factors which may be responsible for obligating the market growth of indoor farming technology

This indoor farming technology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the indoor farming technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2019, a brand-new TopLight Hybrid smart fixture was introduced by LumiGrow Inc. Users of the hybrids will be able to take advantage of the enriched white spectrum, which is entirely wireless and can be controlled by the company's SmartPAR software.
• In 2019, a new elevated system was introduced by the Hydroponics System International Company to support the facilities that needed gutters that were not at ground level.
• In 2019, the acquisition of WiZ Connected (China), creators of the WiZ ecosystem of Wi-Fi-based connected lighting, was announced by Signify Holdings. The company's entry into the Wi-Fi-based smart lighting market would be aided by the acquisition.

Global Indoor Farming Technology Market Scope

The indoor farming technology market is segmented on the basis of growing system, facility type, component, and crop type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Growing System

• Aeroponics,
• Hydroponics
• Aquaponics
• Soil-Based
• Hybrid

Facility Type

• Glass Or Poly Greenhouses
• Indoor Vertical Farms
• Container Farms
• Indoor Deep Water Culture (DWC) Systems

Component

• Hardware
• Climate Control System
• Lightning System  
• Sensors
• Irrigation System
• Software
• Web Based
• Cloud Based
• Services
• Integrated System

Crop Type

• Fruits and Vegetables
• Leafy Vegetables
• Lettuce
• Kale
• Spinach
• Tomato
• Strawberry
• Eggplant
• Herbs and Microgreens
• Basil
• Herbs
• Tarragon
• Wheatgrass
• Flowers and Ornamentals
• Perennials
• Annuals
• Ornamentals
• Others

Indoor Farming Technology Market Regional Analysis/Insights

The indoor farming technology market is analysed and market size insights and trends are provided by growing system, facility type, component, crop type as referenced above.

The countries covered in the indoor farming technology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the indoor farming technology market and will continue to embellish the trend of dominance during the projected period due to the increased involvement of international business lines in agricultural operations to exclusively meet the expectations of crop producers to achieve export-quality crops, demand for indoor farming technology has been expanding in this region. Furthermore, farming.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends Porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Indoor Farming Technology Market Share Analysis

The indoor farming technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to indoor farming technology market.

Some of the major players operating in the indoor farming technology market are:

• Signify Holding (Netherlands)
• EVERLIGHT ELECTRONICS CO., LTD (China)
• Argus Control Systems (Canada)
• LumiGrow (U.S.)
• NETAFIM (Israel)
• LOGIQS B.V. (Netherlands)
• Hydrodynamics International (U.S.)
• AmHydro (U.S.)
• Richel Group (France)
• Vertical Farm Systems (Australia)
• General Hydroponics (U.S.)
• Agrilution (Germany
• Heliospectra (Sweden)
• The Scotts Company LLC (U.S.)
• Hydroponics System International (Spain)
• Advanced Nutrients (Canada)
• Emerald Harvest (U.S.)
• HydroGarden Ltd (U.K.),

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