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 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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- 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
Growth momentum & CAGR
Accelerate at a CAGR of almost 9%
Market growth 2021-2025
$ 624.28 million
YoY growth (%)
Europe, APAC, North America, South America, and MEA
Performing market contribution
Europe at 33%
Key consumer countries
US, The Netherlands, Japan, China, and Canada
Leading companies, competitive strategies, consumer engagement scope
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
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.
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