Report Description:
The recent
market intelligence report, published by Data Insights Partner on the indoor
farming technology market makes an offering of in-depth analysis of and
sub-segments in both the regional and international market. The research also
emphasizes on the impact of drivers, restraints and macro indicators on the
regional and global indoor farming technology market over the short as well as
long period of time. The report also includes the benefits and market
opportunities presented in this field. Beside this, a detailed presentation of
forecast, trends, and dollar values of the global market is offered too. In
accordance with the report, the indoor farming technology market is projected
to expand at a CAGR of 9.2% over the period of forecast period of 2020-2028.
Market Insights, Drivers, Restraints and Opportunities:
Indoor farming technology is
used to grow crops and other plants entirely inside a house or factory within a
short span of time by creating an artificial environment favourable environmental
for farming using several technologies. These technologies help the plants to
grow in a more nutritious way than traditional farming and also it protects the
crops from any natural disasters like draughts, storms, excessive rainfall etc.
But the productivity of the crop depends on the quality of the technologies
being used. The indoor farming technologies includes lighting systems, air
purification, climate control, pump and irrigation systems etc.
The expanding indoor farming
sectors and medicine sectors is driving the growth of the indoor farming
technology market. The rising concerns over healthy and better lifestyle,
increasing demand for fresh and nutritious foods, rising population are also
playing some key roles in the growth of the said market. Rapid urbanisation and
increase in disposable income are adding fuel to the indoor farming technology
market growth too. Beside this, the increasing demand for flowers and other
decorative plants such as bonsai which can be produced only in indoor and under
controlled environments is pushing the growth rate of the said market upward.
The indoor farming technology market has a huge potential. Though it is
expanding very fast day by day, many things are preventing it from using its
full potential. Some of these restraints are–
? High prices of
the raw materials.
? High transportation and exportation cost.
? High cost of the end product.
? High cost of R&D activities.
? High initial cost of installing the technologies.
? Availability of substitutes at lower costs.
? Unavailability in many regions.
? Lack of awareness about the availability and benefits of
the indoor farming technologies in the developing countries.
During the forecast period, Asia Pacific
followed by North America and Europe are expected to be the fastest-growing indoor
farming technology market. The demand for indoor farming technology in Asia Pacific region is
driven by its ever-growing indoor farming sectors
and the increasing foreign investments in the said market. The increase in demand
for fresh foods and medicinal plants and other decorative and ornamental plants
is projected to fuel the market growth for indoor farming technology in the said region in the next few years. The rapid economic growth and increasing population in the
said region is expected to fuel high demand for these products. It is also
believed that on the basis of growing system, the hydroponics segment will have
the largest share for the rising concerns over water scarcity in farming in the
forecast period. For its low prices and high efficiency, hardware indoor farming
technology market is also expected to rise significantly in the said time. As greenhouse cultivation is larger and more famous compared to other indoor
farms, glass or polyhouse technology based on facility type will have the most
rapid growth rate in the forecast period. For its growing demand, fruits and
vegetable indoor farming will be the dominating market in future.
Segmentation of Indoor Farming
Technology Market:
This
market intelligence report on the indoor farming technology market is segmented
based on growing system, facility type, crop type, component, end usage, end
users and the country/regions.
By Growing
System, the indoor farming technology market is divided into–
§ Hydroponics
§ Aeroponics
§ Aquaponics
§ Soil-based
§ Hybrid
§ Others
By Facility
Type, the indoor farming technology market is segmented into–
§
Glass or Poly greenhouses
§
Indoor Vertical Farms
§
Container Farms
§
Indoor Deep-Water Culture (DWC) Systems
§
Others
By Crop Type, the indoor
farming technology market is divided into–
§
Fruits and Vegetables
§
Herbs and Microgreens
§
Flowers and Ornamentals
§
Others (Cannabis and Mushrooms)
By Component,
the indoor farming technology market is divided into–
§ Hardware
§ Software and Services
§ Integrated Systems
§ Others
By End
Usage, the indoor farming technology market is segmented into–
§ Personal
§ Commercial
By End
Users, the indoor farming technology market is segregated into–
§ Small Enterprises
§ Medium Enterprises
§ Large Enterprises
By Regional
Outlook, the indoor farming technology market is divided into–
§ North America (United States,
Canada)
§ Latin America (Brazil, Mexico,
Argentina and other countries)
§ Europe (United Kingdom, France,
Germany, Spain, Italy, Russia, Turkey, Netherlands and other countries)
§ Asia Pacific (Japan, China, India,
South Korea, Singapore, Indonesia, Thailand, Malaysia, Australia, New Zealand
and other countries)
§ Middle East and Africa (GCC,
South Africa, Israel, Arabia, Egypt and other countries)
Profiling of Market Players:
This
business intelligence report offers profiling of reputed companies that are
operating in the market. Companies such as
§ Philips Lighting
§ Everlight Electronics
§ LumiGrow
§ Vertical Farm Systems
§ Argus Controls Systems
§ Hydrodynamics International
§ Illumitex
§ Logiqs
§ Richel Group
§ Netafim
§ General Hydroponics
§ Agrilution
Other players have been profiled into
detail so as to offer a glimpse of the market leaders. Moreover, parameters
such as indoor farming technology market related investment and spending
and developments by major players of the market are tracked in this global
report.
Market Competitive
Analysis:
Key
players are adopting strategies such as investing in R&D, new product
launches, expansion in distribution channels to stand out as strong competitors
in the market. Indoor farming technology market is a competitive market with the
presence of various global and regional players in the market. The major
players like Philips
Lighting, Illumitex, LumiGrow, Everlight Electronics, Logigs, Richel Group,
Netafim, General Hydroponics etc. are trying to gain the market power in their
hands by producing the products in low costs and thus charging low prices and
using different kind of marketing campaigns.
Report
Highlights:
An in-depth analysis of the micro and
macro indicators, market trends, and forecasts of demand is offered by this
business intelligence report. Furthermore, the report offers a vivid picture of
the factors that are steering and restraining the growth of this market across
all geographical segments. In addition to that, Growth Matrix analysis is also
provided in the report so as to share insight of the investment areas that new
or existing market players can take into consideration. Various analytical
tools such as market data analysis, time series and cross section statistical
data analysis has been used in this report to present a clear picture of the
market. The study focuses on the present market trends and provides market
forecast from the year 2020-2028. Emerging trends that would shape the market
demand in the years to come have been highlighted in this report. A competitive
analysis in each of the geographical segments gives an insight into market share
of the global players.
Salient
Features:
Ø This
study offers comprehensive yet detailed analysis of indoor
farming technology market, size of the market
(US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year.
Ø It explains upcoming revenue opportunities across various market
segments and attractive matrix of investment proposition for the said market.
Ø This market intelligence report on indoor farming technology market also offers pivotal insights about various market opportunities, restraints,
drivers, launch of new products, competitive market strategies of leading
market players, emerging market trends, and regional outlook.
Ø Profiling of key market players in the market of indoor
farming technology is done by taking into account
various parameters such as company strategies, distribution strategies, product
portfolio, financial performance, key developments, geographical presence, and
company overview.
Ø The data of this report would allow management authorities and marketers
of indoor
farming technology companies alike to take
informed decision when it comes to launch of products, government initiatives,
marketing tactics and expansion, and technical up gradation.
Ø The research on the world market for indoor farming technology market caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for the
market. The research also caters to the rising needs of consulting and research
firms, financial analysts, and new market entrants.
Ø Research methodologies that have been adopted for the purpose of this
study have been clearly elaborated so as to facilitate better understanding of
the reports.
Ø Reports have been made based on the guidelines as mandated by General
Data Protection Regulation.
Ø Ample number of examples and case studies has been taken into
consideration before coming to a conclusion.
Reasons
to Buy:
v
Identify new growth
opportunities with a deep understanding of strategic business plans and thus
design innovative strategies for sustainable growth.
v
Comprehensive details on micro
and macro factors that will drive or restrain the growth of market players.
v
Analyse and map the behaviours
of the competitors to gain maximum benefits.
v
Deep Sector-Specific
Intelligence.
v
Identify investors who can
invest in your company or identify the companies to invest in by analysing
market opportunities, gains and losses.
v
Identify and attract potential
customers by analysing consumer behaviour for every region.
v
Highlights of the competitive
landscape.