Indoor Farming Technology Market in food & beverages sector is projected to have a high growth rate of 9.65%

Bharat Book Bureau Provides the Trending Market Research Report on „Global Indoor Farming Technology Market, Forecast to 2022“ under Food & Beverages category. The report provides information on industry overview, market size, latest developments, industry trends, large market players, global presence, and their future prospects.
Indoor-Farming-Technology-300x200 Indoor Farming Technology Market in food & beverages sector is projected to have a high growth rate of 9.65%
Indoor Farming Technology Market  is projected to grow at a CAGR of 9.65%

The indoor farming technology market is projected to reach USD 40.25 billion by 2022 from USD 25.40 Billion in 2017, at a CAGR of 9.65%. The market is driven by the rise in demand for fresh foods with high nutritive value, need for higher yields using limited space and water, and lesser impact of external weather conditions. On the other hand, high initial investment is one of the factors restraining the growth of the indoor farming technology market.

Request a free sample copy of Indoor Farming Technology Market Report @ https://www.bharatbook.com/MarketReports/SampleReport/Indoor-Farming-Technology-Market-by-Growing-System-Hydroponics-Aeroponics-Aquaponics-Soil-based- Hybrid Facility-Type-Com / 1048795 Hardware segment is projected to boost the growth of indoor farming technology through 2022 

Based on component, the hardware segment is projected to grow at a higher rate during the forecast period. The three major components in the hardware segment include climate control systems, lighting and irrigation systems. A climate control system is the single most important technology in an indoor farming facility, as it offers us the ideal environment for year-round production. CAGR from 9.88% from 2017 to 2022.

The glass or poly greenhouse segment is the largest market in 2017

The glass or poly greenhouses segment Accounted for the large largest share of the indoor farming technology market in 2017. Greenhouses are gene rally used to cultivate tomatoes, potatoes, and cucumbers. The large share of this segment can be attributed to the high adoption of this technique in countries such as the US and China. This technique consumes less energy and requires fewer hours of labor, which makes it more affordable than indoor vertical farms.

Europe was the biggest market in 2017

Europe is the largest indoor farming technology market in 2017. This dominance can be attributed to the high adoption of precision farming and protected agriculture in this region. In addition, as a response to the growth in demand for food, rapid urbanization, and increase in need for new productive soils, indoor farming is expected to be a leading farming technology and a financially viable solution in this region.

The breakdown of the primaries on the basis of company type, designation, and region, during the research study, is as follows:

– By Company Type: Animal 1 -20%, Animal 2 – 35%, and Animal 3 – 45%
– By Designation: C-Level – 35%, D-level – 25%, and Others * – 40%
– By Region: North America – 20%, Europe – 25%, Asia Pacific – 35%, and RoW – 20%

* Others include Sales Managers, Marketing Managers, and Product Managers.

Note: Tier 1: Revenue> USD 1 billion; Tier 2: Revenue USD 500 million- <USD 1 billion; Tier 3: Revenue <$ 500 million

The global market for indoor farming technology is dominated by large players: such as Philips Lighting (Netherlands), Netafim (Israel), Argus Controls Systems (Canada), EVERLIGHT Electronics (Taiwan), and LumiGrow (US ). Some of the emerging players in the indoor farming technology market include Logiqs (Netherlands), Illumitex, Inc. (US) Vertical Farm Systems (Australia), Hydro Dynamics International (US), General Hydroponics (US), Richel Group (France) and agrilution (Germany).

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