Vancouver, BC -- (SBWIRE) -- 03/11/2021 -- The global Indoor Farming Technology market will be worth USD 62.67 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be the rising demand for health-conscious consumers for high-quality and fresh organic foods. The rising incidence of chronic diseases among consumers has shifted their preferences towards high-quality organic food as they are more nutritious, healthier, and safer. Rapid urbanization in the emerging economies and the increasing purchasing power of the consumers is driving the growth of the indoor farming technology market. Growing initiatives to develop an independent farming technique having less impact on climate is anticipated to fuel the development of the indoor farming system.

We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide a thorough analysis and breakdown of the market presence of key market leaders. We strive to stay updated with the recent developments and follow the latest company news related to the industry players operating in the global Indoor Farming Technology market. This helps us to comprehensively analyze the individual standing of the companies as well as the competitive landscape. Our vendor landscape analysis offers a complete study to help you gain the upper hand in the competition.

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A conscious effort is made by the subject matter experts to analyse how some business owners succeed in maintaining a competitive edge while the others fail to do so makes the research interesting. A quick review of the realistic competitors makes the overall study a lot more interesting. Opportunities that are helping product owners' size up their business further add value to the overall study.

Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market's growth?

Report Objectives
Examine the size of the global Indoor Farming Technology market based on the parameters of value and volume.
Accurately calculate the market shares, consumption, and other essential aspects of different segments of the global Indoor Farming Technology market.
Explore the underlying dynamics of the global Indoor Farming Technology market.
Highlight significant trends of the global Indoor Farming Technology market based on factors including, production, revenue, and sales.
Extensively profile top players of the global Indoor Farming Technology market and showing how they compete in the industry.
Study manufacturing processes and the costs, product pricing, and various trends associated with them.
Analyze the performance of different regions and countries in the global Indoor Farming Technology market.
Forecast the market size and share of all segments and regions in the global landscape.

Key Highlights From The Report
In March 2020, an expansion of collaboration between Signify and Planet Farms, an operator of vertical farms based in Italy, Europe. The collaboration is expected to boost the quality and yield of the crops with the help of the Philips GreenPower LED production.
The Hardware segment held the largest market share of 59.4% in 2019. The increasing need to protect the crops from severe climatic conditions and maintain optimum growth conditions is expected to drive the hardware solutions' growth.
Indoor vertical farms are forecasted to grow with the fastest CAGR of 10.1% over the forecast period. The increasing demand for health-conscious consumers for high-quality organic crops has increased the adoption of indoor vertical farms.
The Hydroponics segment held the largest market share of Indoor Farming Technology in 2019. Growing awareness regarding the adverse effects of pesticides among consumers has increased the adoption of the hydroponics method.
The Fruits & Vegetable segment accounted for the largest market share in 2019. The increasing utilization of indoor farming for the cultivation of fruits & vegetables is expected to drive the segment's growth.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the scarcity of arable lands in the densely populated countries of the region.
Key participants include Everlight Electronics, Philips Lighting, Netafim, Illumitex, Inc., Argus Control Systems, Logiqs B.V., Freight Farms, Signify, BrightFarms, and American Hydroponics, among others.

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Component Outlook (Revenue, USD Billion; 2017-2027)
Software & Services (web-based, cloud-based)
Hardware (Lighting Systems, Irrigation Systems, Sensors, Climate Control Systems)

Facility Type Outlook (Revenue, USD Billion; 2017-2027)
Indoor Deep Water Culture (DWC) systems
Indoor vertical farms (Shipping Container, building-based)
Glass or poly greenhouses

Growth Mechanisms Outlook (Revenue, USD Billion; 2017-2027)
Aeroponics
Hydroponics
Aquaponics
Hybrid
Soil-based

Crop Type Outlook (Revenue, USD Billion; 2017-2027)
Herbs & microgreens
Fruits & Vegetables
Flower & ornamentals
Others

Indoor Farming Technology Market Regional Outlook (Revenue, USD Billion; 2021–2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2028
Chapter 3. Key Insights
Chapter 4. Indoor Farming Technology Market Segmentation & Impact Analysis
Chapter 5. Indoor Farming Technology Market By Application Insights & Trends, Revenue (USD Billion)
Chapter 6. Indoor Farming Technology Market By Industries Insights & Trends Revenue (USD Billion)
Chapter 7. Indoor Farming Technology Market By Type Insights & Trends Revenue (USD Billion)
Chapter 8. Indoor Farming Technology Market Regional Outlook
Continued…