[172+ Pages Research Report] Global Indoor Farming Technology Market to surpass USD 23.14 billion by 2030 from USD 13.69 billion in 2020 at a CAGR of 9.6 % in the coming years, i.e., 2021-30.

Product Overview

The indoor farming technology is a method used by various technologies to grow crops and plants inside the house. This method involves the development of soil-based, aeroponic, aquaponics, and hybrid systems to provide high-level nutrient artificial light for crop plants. Home and commercial indoor agricultural technology can be used on both small and large scales. The growing worldwide urbanization leads to significant urban gardening demand. Because of lower transport costs and fresh nutritious products at competitive rates, Indoor Farming Technology is gaining significance. Furthermore, Indoor Farming Technology is seen by offering green infrastructure and can play a significant role in global food security to provide a possible solution to the impacts of climate change. In the polluted subways around the world, the cities continue to incorporate this trend in their plans.

Market Highlights

Global Indoor Farming Technology market is expected to project a notable CAGR of 9.6% in 2030.

The key factors that increase Indoor Farming Technology's popularity are health and nutrition, food safety and transparency, education, urban sustainability, and the increasing demand for local foods. The production of fruit and vegetables in a limited area and increasing demand for high-quality foods are some of the factors that drive the growth of the market without pesticides and herbicides.

Global Indoor Farming Technology Market: Segments

Hydroponics segment to grow with the highest CAGR during 2020-30

Global Indoor Farming Technology market is segmented by growing medium into Hydroponics, Aeroponics, and Aquaponics. Commercial producers use the hydroponics mechanism for growth. This mechanism is more easily developed and costs less than other mechanisms (ROI). Aeroponics demands a significant initial investment to compare the investment required for a hydroponics and aeroponics institution of the same size. Hydroponic mechanism refines the most water-efficient agriculture method, with negligible wastage. Control can be effectively carried out over the amount of nutrients to be delivered to the plants, enabling control over the growth process and impacting factors such as plant growth speed and size. Unlike aeroponics, plants can continue supplying water and nutrients during a long time in the event of a power outage because of the collapse of the mist spraying nozzles or because of malfunctioning. The plant is supported by a plant's hydroponic mechanism.

Herbs & Microgreens segment to grow with the highest CAGR during 2020-30

Global Indoor Farming Technology is divided by crop type into Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals. In traditional farming, sunlight is a vital resource. Indoor Farming Technology, however, depends heavily on artificial light. Artificial light replaces sunlight and must have adequate light intensities for the growth of crops. The quantity and period of the light are the most important aspects of lighting. Lights provide either a light spectrum such as the sun or a spectrum which satisfies the plants' needs. Differing colors, temperatures, and spectral results from the growing lights can be used to create outdoor lighting conditions and fluctuate the intensity output of lamps.

Market Dynamics

Drivers

Reduction in price of lightning mechanism

Light-emitting diodes (LEDs) are now cost-effective enough to cut farmers' overall costs. The LED technological advancements in recent years have thus supported Indoor Farming Technology market growth. For indoor farming applications, artificial lighting is a basic requirement. In the recent past LED prices have dropped substantially, increasing efficiency and long life. The results were higher returns on investments (ROIs) for producers and the number of urban farms with profitable production was increased. Over other technologies LED lights and inter lighting systems from horticultural growers are broadly acknowledged as they are accessible with full-spectrum and can be used for various crop types.

Increase in demand for local food

The key factors that increase Indoor Farming Technology's popularity are health and nutrition, food safety and transparency, education, urban sustainability, and the increasing demand for local foods. The production of fruit and vegetables in a limited area and increasing demand for high-quality foods are some of the factors that drive growth on the market without pesticides and herbicides.

Restraint

Lack of technological know-how

Indoor Farming Technology is an intelligent farming technique requiring technical knowledge. Limited knowledge about and use of advanced technologies creates an imbalance between comprehension and implementation of the concepts in the field of Indoor Farming Technology. The use of advanced solutions like cameras, sensors, automatic systems, hydroponic machine learning and, aquaponics or aeroponic systems often involves Indoor Farming Technology. Knowledgeable and skilled staff is necessary to manage these advanced systems.

Global Indoor Farming Technology Market: Key Players

Signify

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Osram (Germany)

Freight Farms (US)

AeroFarms (US)

Sky Greens (Singapore)

Spread Co., Ltd. (Japan)

Plenty (US)

Valoya (Finland)

Everlight Electronics Co., Ltd. (Taiwan)

Heliospectra (Sweden)

Other Prominent Players

Global Indoor Farming Technology Market: Regions

Global Indoor Farming Technology market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Indoor Farming Technology in Asia Pacific held the largest market share of XX.X% in the year 2020. APAC invests in and expands its operations in other nations in the field of Indoor Farming Technology. Sustenir (Singapore), for example, a manufacturer of agritech, launched a 30,000 square foot vertical hydroponic farm in Hong Kong, Tuen Mun, in November 2019. Hong Kong is a nation with dense demography with limited land for agriculture. Products from conventional agriculture are not sufficient to meet local requests; therefore, the country relies heavily on imported products. The same applies to other countries like Singapore. Agricultural systems and equipment in the region, like steering systems, guided systems, sensors, display devices, and farm management software, are widely adopted by farmers. Increasing use in various agricultural applications of technological advancements, reducing labour levels, consolidating farms, increasing population, and the increasing demand for high productivity from current farming areas are some other factors driving growth in the American Indoor Farming Technology market.

Global Indoor Farming Technology Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Indoor Farming Technology Market report also contains analysis on:

Indoor Farming Technology Market Segments:

By Growing Medium

Hydroponics

Aeroponics

Aquaponics

By Crop Type

Fruits & Vegetables

Herbs & Microgreens

Flowers & Ornamentals

Indoor Farming Technology Market Dynamics

Indoor Farming Technology Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Indoor Farming Technology Market Report Scope and Segmentation

Frequently Asked Questions

How big is the Indoor Farming market

What is the Indoor Farming market growth

Which segment accounted for the largest Indoor Farming market share

Who are the key players in the Indoor Farming market

What are the factors driving the Indoor Farming market

Contents

1. Executive Summary

2. Global Indoor Farming Technology Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Global Indoor Farming Technology Market Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Global Indoor Farming Technology Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Volume (Billion Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Global Indoor Farming Technology Market: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Crop Type: Market Share (2020-2030F)

1. Fruits & Vegetables, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Herbs & Microgreens, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Flowers & Ornamentals, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. By Growing Medium: Market Share (2020-2030F)

1. Hydroponics, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Aeroponics, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Aquaponics, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile

1. Signify (Netherlands)

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. Osram (Germany)

3. Freight Farms (US)

4. AeroFarms (US)

5. Sky Greens (Singapore)

6. Spread Co., Ltd. (Japan)

7. Plenty (US)

8. Valoya (Finland)

9. Everlight Electronics Co., Ltd. (Taiwan)

10. Heliospectra (Sweden)

11. Other Prominent Players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)