Global Smart Indoor Farming Market, By Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based and Hybrid), Facility Type (Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms and Indoor Deep Water Culture (DWC) Systems), Component (Hardware and Software and Services), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Smart Indoor Farming market
The smart indoor farming market is expected to be growing at a growth rate of 9.1% in the forecast period of 2021 to 2028. The increasing consumer awareness regarding the advantages of consuming fresh and high-quality food will act as a driving factor for the growth of the smart indoor farming market.
Indoor farming technology is a technique of growing crops and plants inside any indoor space or house utilizing various technologies.
Major factors that are expected to boost the growth of the smart indoor farming market in the forecast period are the increase in the demand for fresh food with more nutritious value, the rise in the demand for higher yields that are utilizing limited space and water and the decrease in the effect of outdoor weather conditions. On the other hand, the increase in the primary investments and the restrictions on the forms of crops that can be grown are further anticipated to derail the growth of the smart indoor farming market in the timeline period.
In addition, the advancement of innovative and cost efficient technologies and the manufacturing of biopharmaceutical products will further provide potential opportunities for the growth of the smart indoor farming market in the coming years. However, the dearth of sufficient funding and the lack in the accessibility of trained labour force might further challenge the growth of the smart indoor farming market in the near future.
This smart indoor farming market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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 smart indoor farming market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Indoor Farming Market Scope and Market Size
The smart indoor farming market is segmented on the basis of growing system, facility type, component and crop type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of growing system, indoor farming market is segmented into aeroponics, hydroponics, aquaponics, soil-based and hybrid.
- On the basis of facility type, indoor farming market is segmented into glass or poly greenhouses, indoor vertical farms, container farms and indoor deep water culture (DWC) systems.
- On the basis of component, indoor farming market is segmented into hardware, and software and services. Hardware is further sub segmented into climate control systems, lighting systems, communication systems, sensors, system controls, irrigation systems and others.
- On the basis of crop type, indoor farming market is segmented into fruits and vegetables, herbs and microgreens, flowers and ornamentals and others. Fruits and vegetables are further sub segmented into leafy greens, tomato, strawberry, eggplant and others. Leafy greens are further sub segmented into lettuce, kale, spinach and others. Herbs and microgreens are further sub segmented into basil, herbs, tarragon and wheatgrass. Flowers and ornamentals are further sub segmented into perennials, annuals and ornamentals.
Smart Indoor Farming Market Country Level Analysis
The smart indoor farming market is analysed and market size, volume information is provided by country, growing system, facility type, component and crop type as referenced above.
The countries covered in the smart indoor farming market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the smart indoor farming market due to the increase in the acceptance of technologies concerning to indoor farms. Furthermore, the rise in the attention on accepting technologies to enhance the yield and the various initiatives undertaken by the governments for building indoor farms with the aim of overcoming the increase in the population, changes in the climate and food production will further boost the growth of the smart indoor farming market in the region during the forecast period. Asia Pacific is projected to observe significant amount of growth in the smart indoor farming market due to the occurrence of a large number of indoor farms. Moreover, the constant increase in the population has in turn heightened the demand for organic food which is further anticipated to propel the growth of the smart indoor farming market in the region in the coming years.
The country section of the smart indoor farming market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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.
Smart Indoor Farming Market Share Analysis
The smart indoor farming 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 smart indoor farming market.
The major players covered in the smart indoor farming market report are LOGIQS B.V., Illumitex, Vertical Farm Systems, Hydrodynamics International., GENERAL HYDROPONICS, Certhon., Dalsem, RICHEL Group, AMHYDRO, Harnois Industries Inc (Les), Urban Crop Solutions, Agrilution, Green Sense Farms Holdings, Inc., Signify Holding., EVERLIGHT ELECTRONICS CO., LTD., Argus Controls Systems Limited., NETAFIM, LumiGrow Inc., Scotts Miracle-Gro Company, Advanced Nutrients Ltd., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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