Indoor Farming Technologies Market Size to Grow by USD 624.28 Mn | Increase in Product Offering to Drive Growth | Technavio

NEW YORK, Oct. 8, 2021 /PRNewswire/ — The indoor farming technologies market is expected to observe an incremental growth of…

NEW YORK, Oct. 8, 2021 /PRNewswire/ — The indoor farming technologies market is expected to observe an incremental growth of USD 624.28 million, accelerating at a CAGR of almost 9% between 2021 and 2025. The reduction in pollution and deforestation and increase in the offering of certified products are some of the major factors propelling the market growth. However, factors such as lack of skilled labor for indoor farming, using artificial light instead of natural light, and various limitations associated with indoor farming technologies will hamper the market growth.

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Indoor Farming Technologies Market: Application Landscape

By, application, the market observed maximum growth in the greenhouse farming segment in 2020. The segment is expected to offer significant growth opportunities for market players during the forecast period.

Indoor Farming Technologies Market: Geographic Landscape

By geography, Europe is going to have lucrative growth during the forecast period. About 33% of the market’s overall growth is expected to originate from Europe. The Netherlands is the key market for indoor farming in Europe. 

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Companies Covered:

  • Certhon
  • Dalsem Greenhouse Projects BV
  • General Electric Co.
  • Honeywell International Inc.
  • Koninklijke Philips NV
  • Netafim Ltd.
  • Richel Group SAS
  • Urban Crop Solutions
  • Vertical Farm Systems

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Indoor Farming Technologies Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of almost 9%

Market growth 2021-2025

$ 624.28 million

Market structure

Fragmented

YoY growth (%)

8.45

Regional analysis

Europe, APAC, North America, South America, and MEA

Performing market contribution

Europe at 33%

Key consumer countries

US, The Netherlands, Japan, China, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Certhon, Dalsem Greenhouse Projects BV, General Electric Co., Honeywell International Inc., Koninklijke Philips NV, Netafim Ltd., Richel Group SAS, Urban Crop Solutions, and Vertical Farm Systems

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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