Indoor Farming Technology Market Trends, Share, Size, Demand, Revenue and Future Outlook
Indoor Farming Technology Market Growth, Size, Trends Analysis- By Growing System, By Facility Type, By Component Type, By Crop Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2023 | Report ID: AGRI2327 | Pages: 1 - 234 | Formats*: |
| Category : Agriculture | |||
Indoor Farming Technology Market Introduction and Overview
According to SPER Market Research, the Global Indoor Farming Technology Market is estimated to reach USD 48.08 billion by 2033 with a CAGR of 9.66%.
The report includes an in-depth analysis of the Global Indoor Farming Technology market, including market size and trends, product mix, distribution channels, and supplier analysis. Indoor farming is a modern agricultural approach in which crops are grown in controlled surroundings such as warehouses, greenhouses, or containers utilizing artificial lighting and climate control systems. The primary goal of indoor farming is to boost agricultural yields while reducing water consumption and the use of pesticides, herbicides, and fertilizers. This strategy also allows for year-round crop production and minimizes transportation's carbon footprint because crops can be grown closer to metropolitan centers.
- In 2019, LumiGrow Inc. unveiled a brand-new TopLight Hybrid smart fixture. The expanded white spectrum, which is completely wireless and can be managed by the company's SmartPAR software, will be available to hybrid users.
- Signify Holdings announced the acquisition of WiZ linked (China), the designers of the WiZ ecosystem of Wi-Fi-based linked lighting, in 2019. The acquisition will help the company enter the Wi-Fi-based smart lighting sector.
Market Opportunities and Challenges
The indoor farming technology market offers a promising panorama of business potential driven by a convergence of elements. As urbanization continues to rise and accessible arable land shrinks, there is an increasing demand for novel solutions for sustainable food production. Indoor farming solves this issue by utilizing controlled conditions, such as vertical farms, hydroponics, and aeroponics systems, to raise crops year-round with much decreased water usage and pesticide dependency. Furthermore, rising customer desire for locally produced, fresh, and pesticide-free vegetables boosts the market potential for indoor farming.
The worldwide indoor farming market is also faced with a number of challenges which hinder its general acceptance and success. The expensive expense of building up and maintaining indoor farming facilities is one important obstacle, which can limit their accessibility to small-scale farmers and developing countries. Indoor farming technology consumes a substantial amount of energy, resulting in high electricity costs that can be a significant strain for farmers. Furthermore, the industry lacks standards and control, resulting in differences in product quality and safety. Additionally, there is a need for increased public awareness and education about the benefits of indoor farming and sustainable agriculture practices.
-010010123082023.jpg)
Market Competitive Landscape
The competitive landscape of the indoor farming technology market includes information by competitor. Company overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, manufacturing locations and facilities, capacity for production, company strengths and weaknesses, product launch, product length and breadth, application dominance are all included. Some of the market key players include Signify Holding, Everlight Electronics, Argus Control System, Lumigrow, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Growing System, By Facility Type, By Component Type, By Crop Type |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Signify Holding, Everlight Electronics, Argus Control System, Lumigrow, Others. |
COVID-19 Impact on Global Indoor Farming Technology Market
The worldwide indoor farming technology market has been impacted by the COVID-19 epidemic in a variety of ways. On the one hand, the pandemic has caused supply chain disruptions, labour shortages, and decreased consumer demand for non-essential goods, all of which have hampered market growth. The epidemic, on the other hand, has underlined the importance of food security and the necessity for robust and sustainable food systems, resulting in greater investment in indoor farming technologies. The pandemic has also spurred the introduction of automation and remote monitoring technologies, allowing farmers to remotely monitor and control their indoor crops. Overall, the pandemic has presented the global indoor farming technology industry with both problems and possibilities.
Key Target Audience
- Farmers
- Food Processing Companis
- Governments and Policymakers
- Investors and venture capitalist
- Research and developments institutions
- Suppliers and distributors
Our in-depth analysis of the Indoor Farming Technology Market includes the following segments:
| By Growing System: | |
| By Facility Type: | |
| By Component: | |
| By Crop Type: |
Key Topics Covered in the Report
- Global Indoor Farming Technology Market Size (FY’2023-FY’2033)
- Overview of Global Indoor Farming Technology Market
- Segmentation of Global Indoor Farming Technology Market By Growing System Method (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid, Others)
- Segmentation of Global Indoor Farming Technology Market By Facility Type (Glass or Poly Greenhouse, Indoor Vertical Farm, Container Farm, Indoor DWC System)
- Segmentation of Global Indoor Farming Technology Market By Component (Hardware, Software)
- Segmentation of Global Indoor Farming Technology Market By Crop Type (Fruits & Vegetables, Herbs & Microgen, Flowers & Ornamentals, Others)
- Statistical Snap of Global Indoor Farming Technology Market
- Expansion Analysis of Global Indoor Farming Technology Market
- Problems and Obstacles in Global Indoor Farming Technology Market
- Competitive Landscape in the Global Indoor Farming Technology Market
- Impact of COVID-19 and Demonetization on Global Indoor Farming Technology Market
- Details on Current Investment in Global Indoor Farming Technology Market
- Competitive Analysis of Global Indoor Farming Technology Market
- Prominent Players in the Global Indoor Farming Technology Market
- SWOT Analysis of Global Indoor Farming Technology Market
- Global Indoor Farming Technology Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Indoor Farming Technology Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Indoor Farming Technology Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Indoor Farming Technology Market
7. Global Indoor Farming Technology Market, By Growing System (USD Million)
7.1. Global Indoor Farming Technology Market Value Share and Forecast, By Growing System, 2023-20337.2. Hydroponics7.3. Aeroponics7.4. Aquaponics7.5. Soil-based7.6. Hybrid7.7. Others
8. Global Indoor Farming Technology Market, By Facility Type (USD Million)
8.1. Global Indoor Farming Technology Market Value Share and Forecast, By Facility Type, 2023-20338.2. Glass or Poly Greenhouse8.3. Indoor Vertical Farm8.4. Container Farm8.5. Indoor DWC System
9. Global Indoor Farming Technology Market, By Component (USD Million)
9.1. Global Indoor Farming Technology Market Value Share and Forecast, By Component, 2023-20339.2. Hardware9.3. Software
10. Global Indoor Farming Technology Market, By Crop Type (USD Million)
10.1. Global Indoor Farming Technology Market Value Share and Forecast, By Region, 2023-203310.2. Fruits & Vegetables10.3. Herbs & Microgen10.4. Flowers & Ornamentals10.5. Others
11. Global Indoor Farming Technology Market Forecast, 2019-2033 (USD Million)
11.1. Global Indoor Farming Technology Market Size and Market Share
12. Global Indoor Farming Technology Market, By Growing System, 2019-2023 (USD Million)
12.1. Global Indoor Farming Technology Market Size and Market Share By Growing System (2019-2026)12.2. Global Indoor Farming Technology Market Size and Market Share By Growing System (2027-2033)
13. Global Indoor Farming Technology Market, By Facility Type, 2019-2023 (USD Million)
13.1. Global Indoor Farming Technology Market Size and Market Share By Facility Type (2019-2026)13.2. Global Indoor Farming Technology Market Size and Market Share By Facility Type (2027-2033)
14. Global Indoor Farming Technology Market, By Component, 2019-2023 (USD Million)
14.1. Global Indoor Farming Technology Market Size and Market Share By Component (2019-2026)14.2. Global Indoor Farming Technology Market Size and Market Share By Component (2027-2033)
15. Global Indoor Farming Technology Market, By Crop Type, 2019-2023 (USD Million)
15.1. Global Indoor Farming Technology Market Size and Market Share By Crop Type (2019-2026)15.2. Global Indoor Farming Technology Market Size and Market Share By Crop Type (2027-2033)
16. Global Indoor Farming Technology Market, By Region, 2019-2023 (USD Million)
16.1. Global Indoor Farming Technology Market Size and Market Share By Region (2019-2026)16.2. Global Indoor Farming Technology Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific16.4. Europe16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe16.5. Middle East and Africa16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa16.6. North America16.6.1. Canada16.6.2. Mexico16.6.3. United States16.7. Latin America16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. Signify Holding17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. Everlight Electronics17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent development17.3. Argus Control System17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. Lumigrow17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Indoor Farming Technology Market Segment is Covered By Growing System, By Facility Type, By Component Type, By Crop Type
The North America region is anticipated to have the highest market share in Indoor Farming Technology Market.
The key players in the market include Companies Covered Signify Holding, Everlight Electronics, Argus Control System, Lumigrow, Others.
The Global Indoor Farming Technology Market is expected to grow significantly in the coming years, driven by factors such as increasing demand for fresh and organic produce, rising population, and urbanization.
Indoor Farming Technology Market is projected to reach USD 48.08 billion by 2033, growing at a CAGR of 9.66% during the forecast period.
Indoor Farming Technology Market grew in market size from 2023. The Market is expected to reach USD 48.08 billion by 2033, at a CAGR of 9.66% during the forecast period.
Indoor Farming Technology Market CAGR of 9.66% during the forecast period.
You can get the sample pages by clicking the link -Click Here
Indoor Farming Technology Market size is USD 48.08 billion from 2023 to 2033.
PLACE AN ORDER
Year End Discount
Sample Report
Pre-Purchase Inquiry
NEED CUSTOMIZATION?
Request CustomizationCALL OR EMAIL US
100% Secure Payment
Related Reports
Have a glance of the Report
Our Global Clients
Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
