November 4th, 2022
Indoor Farming Market was valued at USD 34790 million in 2021 and is expected to reach USD 53570 million by the year 2028, at a CAGR of 6.36%.
The global Indoor Farming Market provides qualitative and quantitative information on the growth rate, market segmentation, market size, future trends and regional prospects. The research study represents a modern perspective aimed at securing the future potential of the Indoor Farming Market. This report analyzes and evaluates the latest prospects for the new retail space, as well as the general and future market performance of Covid-19. In addition, this report provides a detailed overview of competition between some industries and others.
Indoor Farming Market - Size, Competitive Landscape, and Segmentation Analysis:
Indoor Farming Market Reports provide a high-level overview of market segments by product type, applications, leading key players, and regions, as well as market statistics. The research insights focus on the impact of the Covid-19 epidemic on performance and offer a thorough examination of the current market and market dynamics. This crucial understanding of the report's objective can help you make better strategic decisions about investment markets by assessing elements that may affect current and future market circumstances. The leading key players in the Global and Regional market are summarized in research to understand their future strategies for growth in the market.
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The Key Players Covered In The Indoor Farming Market Report Are:
· Philips Lighting
· Everlight Electronics
· Argus Controls Systems
· Vertical Farm Systems
· Hydrodynamics International
· General Hydroponics
· Richel Group
· American Hydroponics
· Agrilution and Other Major Players.
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By Growing System, Indoor Farming has been segmented into:
· Silicon Carbide
· Aluminum Nitride
· Silicon Nitride
By Crop Type, Indoor Farming has been segmented into:
· Electrical and Electronics
· Transportation (Aerospace & Automotive)
· Medical Industrial Defense
· Security Chemical
Market Segment by Regions and Countries Level Analysis:
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
· Asia-Pacific (China, India, Japan, Southeast Asia etc.)
· South America (Brazil, Argentina etc.)
· Middle East & Africa (Saudi Arabia, South Africa etc.)
Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has disrupted agricultural production and supply chains around the world, threatening access to agricultural labour and complicating international supply chains. With the threat of global viruses, increasing temperatures, and massive demand for feed, traditional farming is no longer sustainable. This is creating an opportunity for the indoor farming market and its growth as the demand for the production of nutritious and local food has increased during the period of COVID-19. There is growth in interest in indoor farming globally, with huge facilities already operating in Asia, the Middle East, and Europe, and new projects announced since the start of the COVID-19 outbreak. Although many industries are decreasing owing to COVID-19, indoor farming is flourishing as it meets the demand for locally produced vegetables, such as kale and lettuce.
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Key Industry Developments
· In August 2019, LumiGrow Inc. introduced a new TopLight Hybrid smart fixture. The hybrids will allow users to benefit from the enriched white spectrum, which is wireless and can be controlled via the SmartPAR software of the company.
· In April 2019, the Spain-based company Hydroponics System International released a new elevated system to help the facilities that require gutters that were not at ground level.
· In April 2019, a Netherland-based company Signify Holdings declared the acquisition of WiZ Connected (China), manufacturer of the WiZ Wi-Fi-based connected lighting ecosystem. The acquisition would support the company to step into the Wi-Fi-based smart lighting market.
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