Dublin, Jan. 31, 2022 (GLOBE NEWSWIRE) — The “Global Indoor Agriculture Technology Market – A Global and Regional Analysis: Focus on Key Technologies, Patents, Drivers, Opportunities, Challenges and Applications” report has been added to from ResearchAndMarkets.com offer.
The global indoor agriculture technology market is expected to reach USD 12,767.3 million by 2026, growing at a CAGR of 14.80% during the forecast period 2021-2026.
The growth of the global indoor farming technology market is expected to be driven by the growing demand for food, fresh and organic produce, and the need for an alternative cultivation method for sustainable agriculture.
Indoor farming technology
Indoor farming is an alternative growing method where crops are grown in a controlled environment. It is used to produce several vegetables and fruits, microgreens and herbs, and ornamental plants on vertically sloping surfaces or under greenhouses and container farms. In the case of indoor farming, vegetables and other fruits are grown on one level, such as in a field or a greenhouse.
Indoor farming technology involves the integration of many technologies such as big data analytics, robotics, artificial intelligence (AI) and internet of things (IoT) so that crops can be perfectly produced without any agronomic constraints. Aquaponics, aeroponics, and hydroponics are alternative farming techniques within indoor farming in which plants are grown in non-traditional ways.
The main advantage of using indoor farming technologies is that it increases crop yield with a smaller unit area of land. In earlier systems, wastewater from an aquarium was used to irrigate crops such as cucumbers and tomatoes in a sand-filled grow bed. With the advancements in technology, equipment such as heating, ventilation and air conditioning (HVAC), LED grow light, aeration system and irrigation system, sensors, monitors and others are used for efficient crop growth through indoor farming.
Impact of COVID-19 on Indoor Farming Technology
The supply chain of most industries across the world has been impacted due to the COVID-19 pandemic, including the indoor farming industry. Even though produce is grown in a controlled environment in indoor farming, due to supply chain disruption, farms were unable to deliver produce to market during the first stage of COVID. -19.
However, vaccines are available in almost all countries and containment restrictions have been discussed. Distribution channels are normalizing; therefore, indoor farming companies are able to market their products, also making a profit, and the market is growing.
Global Indoor Agriculture Technology Market by Technology
The indoor agriculture technology market by technology category is dominated by the hardware systems segment. These material systems are known as the complete substitute for the natural conditions of traditional agriculture. Hardware systems play a key role in manually regulating these factors. Therefore, sensors, controllers, air conditioning devices, lighting systems, irrigation systems and other devices play a major role in this case.
Global Indoor Agriculture Technology Market by Installation
The global indoor farming technology market by facility category is dominated by the greenhouse segment. Greenhouses are inflated structures covered in transparent material for growing crops in a controlled environment. With the practice of controlled environment agriculture (CEA), greenhouses use climate control systems, such as fans, fans, and chillers.
Global Indoor Agriculture Technology Market by Growth Method
The global indoor farming technology market by cultivation method category is dominated by the hydroponics segment. Hydroponics is an age-old method of growing crops without soil. Instead, an aqueous or nutrient solution is used. In hydroponics, only the roots of the crops are exposed to a nutrient or water solution for optimal growth, while the grower must regulate the nutrient composition and how often the solution is supplied to the crops.
Global Indoor Agriculture Technology Market by Region
North America generated the highest revenue of $1,877.1 million in 2020, which is attributed to technological advancements in this region. It is also one of the largest agricultural centers in the world. The region is expected to witness a strong CAGR growth of 15.80% during the forecast period.
How this report can add value
Product/Innovation Strategy: The product segment helps the reader to understand the different types of technology such as hardware system, software and services, and integrated system used in indoor farming and their market potential worldwide.
Additionally, the study provides the reader with a detailed understanding of the different growing methods (i.e. aquaponics, hydroponics, aeroponics, hybrid, and soil-based). Also, this section gives an understanding of the facilities used in indoor farming, such as vertical farms, greenhouses, and container farms, and their application with benefits.
Plus, comprehensive coverage of the various equipment required for a successful indoor farm setup (i.e. lighting systems, air conditioning systems, irrigation systems, sensors, and monitoring systems) for various applications has also been added in the study.
Key Questions Answered by the Report
- What is the estimated size of the global Indoor Agriculture Technology market in terms of revenue for the forecast period 2021-2026, and what is the compound annual growth rate (CAGR) expected during the forecast period 2021-2026?
- What are the key trends, market drivers and opportunities in the market regarding indoor farming technology?
- What are the major restraints restraining the growth of the Global Indoor Agriculture Technology market?
- What kinds of new strategies are being adopted by existing market players to expand their market position in the industry?
- What is the competitive strength of the leading Indoor Agriculture Technology market players based on an analysis of their recent developments, product offerings, and regional presence?
- How is the competitive benchmarking of leading indoor farming technology companies in the agriculture market based on the analysis of their market coverage and market potential?
- How much revenue is each segment expected to register over the forecast period, along with the percentage growth?
- What types of players and stakeholders operate in the Indoor Agriculture Technology market ecosystem, and how prominent are they in the global market?
- How does the regulatory landscape differ from region to region for indoor farming technology?
Market Report Coverage – Indoor Farming Technology
- Growing method: hydroponics, aeroponics, aquaponics, soil-based, hybrid
- Installation: greenhouses, indoor vertical trusses, container trusses
- Technology: hardware system, software and services, embedded system
- North America: United States, Canada and Mexico
- Europe: France, Netherlands, Italy, Spain, Russia and rest of Europe
- Asia-Pacific: India, Japan, Singapore, Australia and New Zealand, and rest of Asia-Pacific
- Rest of the world: Brazil, South Africa, United Arab Emirates, Saudi Arabia
Market Growth Factors
- Increased demand for global food security due to population growth and urbanization
- Growth in adoption of technology in agriculture
- Land degradation and shrinking arable land
- Increased government support and initiatives
- High initial investment and operational costs
- Suitable for selective crop production
- Limited farmer awareness
- Production of pharmaceutical plants through indoor farming
- Integration of different emerging technologies
- Scope of expansion in developing countries
- American Hydroponics (AmHydro)
- Limited Argus control system
- Automatic growth
- Canna Pro
- Current Lighting Solutions, LLC
- Everlight Electronics Co.,Ltd
- Freight Farms, Inc.
- GE Lighting
- General Hydroponics Inc.
- Logiqs B.V.
- OSRM GmbH
- Private Holdings B.V.
- Richel Group
- Smart Cannabis Corp.
- Signify AG
- Tevatronic Ltd.
- Vertical Farm System Pty Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/vy2p00