CRI Report has released a report titled “Indoor Farming Technology Market – Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 23.14 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 9.6 % between 2020 and 2030. According to the report, the key factors that increase Indoor Farming Technology’s popularity are health and nutrition, food safety and transparency, education, urban sustainability, and the increasing demand for local foods. The production of fruit and vegetables in a limited area and increasing demand for high-quality foods are some of the factors that drive growth on the market without pesticides and herbicides.
The market report on global Indoor Farming Technology market includes in-depth insights as:
- The estimated value of the market was USD 13.69 billion in the year 2020.
- Region-wise, the market in Asia Pacific, which held the largest market share of XX.X% in the year 2020, emerged as a key market for Indoor Farming Technology Market.
- Based on Crop Type, Herbs & Microgreens emerged as a key segment in the global Indoor Farming Technology Market.
- Based on Growing Medium, Hydroponics emerged as a key segment in the global Indoor Farming Technology Market
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The key factors that increase Indoor Farming Technology’s popularity are health and nutrition, food safety and transparency, education, urban sustainability, and the increasing demand for local foods. The production of fruit and vegetables in a limited area and increasing demand for high-quality foods are some of the factors that drive growth on the market without pesticides and herbicides.”, said a lead analyst at CRI Report.
The indoor agriculture technology is a method used by various technologies to grow crops and plants inside the house. This method involves the development of soil-based, aeroponic, aquaponic, and hybrid systems to provide high-level nutrient artificial light for crop plants. Home and commercial indoor agricultural technology can be used on both small and large scales. The growing worldwide urbanization leads to significant urban gardening demand. Because of lower transport costs and fresh nutritious products at competitive rates, Indoor Farming Technology is gaining significance. Furthermore, Indoor Farming Technology is seen by offering green infrastructure and can play a significant role in global food security to provide a possible solution to the impacts of climate change. In the polluted subways around the world, the cities continue to incorporate this trend in their plans.
Global Indoor Farming Technology is divided by crop type into Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals. In traditional farming, sunlight is a vital resource. Indoor Farming Technology, however, depends heavily on artificial light. Artificial light replaces sunlight and must have adequate light intensities for the growth of crops. The quantity and period of light are the most important aspects of lighting. Lights provide either a light spectrum such as the sun or a spectrum that satisfies the plants’ needs. Differing colors, temperatures, and spectral results from the growing lights can be used to create outdoor lighting conditions and fluctuate the intensity output of lamps.
Key Players in the Market
- Some of the key players operating in the global Indoor Farming Technology market are Signify (Netherlands), Osram (Germany), Freight Farms (US), AeroFarms (US), Sky Greens (Singapore), Spread Co., Ltd. (Japan), Plenty (US), Valoya (Finland), Everlight Electronics Co., Ltd. (Taiwan), and Heliospectra (Sweden), Other Prominent Players.
Get Valuable Insights into Global Indoor Farming Technology Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Indoor Farming Technology market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by crop type into Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals. By growing medium into Hydroponics, Aeroponics, and Aquaponics. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.