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The increasing awareness among consumers regarding the benefits of consuming high-quality and fresh organic food products is driving the demand of the market.

VANCOUVER, BC, CANADA, January 13, 2022 /EINPresswire.com/ -- The 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.Ability to manage the pH and nutrients with the help of hydroponics results in greater yield. Ease of operations and low installation cost has resulted in the increasing adoption of the hydroponics methods.

 The report on Indoor Farming Technology market, samples and measures quality data on the overall business environment for the forecast period 2021-2027.Comprehensive data on growing investment pockets evaluated in the report on Indoor Farming Technology market are powered and backed by human answers. Comprehensive coverage of aspects such as market potential, size, share, and growth aims at creating an equation for profitability- whether stakeholders, business owners, and field marketing executives need to understand their market foothold and dynamics identify the white spaces or increase their yield.

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The extensive assessment of real-time data on the business environment offers a more specialized view of threats and challenges companies are likely to face in the years to come. In addition, the unique expertise of the researchers behind the study in strategic growth consulting enables product owners identifies important definition, product classification, and application. Coverage of critical data on investment feasibility, return on investment, demand and supply, import and export, consumption volume and production capability aim at supporting the business owners in multiple growth phases including the initial stages, product development and prioritizing potential geography.

Companies profiled in the global Indoor Farming Technology market:

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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Further Key Highlights

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.

 Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Emergen Research has segmented the global Indoor Farming Technology on the basis of Component, Facility Type, Growth Mechanisms, Crop Type, and region:

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

 Key Features of the Indoor Farming Technology Market Report:

The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats

The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares

Evaluation of key current and emerging market trends and growth prospects

It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth

Brief overview of industry with regards to research and development, technological advancements, and product development

In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario

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