Global indoor farming technology market was valued at USD 39.8 billion in 2017 and is expected to reach USD 41.0 billion in 2025, growing at a healthy CAGR of 9.6% for the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
- Philips Lighting
- Everlight Electronics
- Argus Controls Systems
The other players in the market are Logiqs B.V., Illumitex, Vertical Farm Systems, Hydrodynamics International, General Hydroponics, Certhon, Dalsem, Richel Group, American Hydroponics, Harnois Greenhouses, Richel Group, Urban Crop Solutions, Vertical Farm Systems, Agrilution GmbH, Green Sense Farms, American Hydro Phonics, and many more.
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Market Drivers & Restrainers:
- Lesser impact of changing weather conditions
- Improve yield of crops and reduce crop wastage
- Rise in investment of overseas business lines in agricultural operations
- Growth in demand for food, rapid urbanization, and increase in need for new productive soils
- Lighting challenges compared with natural lighting
- High initial investment for setup
- Limitations on the type of crops that can be grown
- Growing System
- Facility Type
- Crop Type
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- North America
- South America
- Middle East & Africa
The global indoor farming technology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cyber security as a service market for global, Europe, North America, Asia-Pacific, South America, and Middle East & Africa.