Global Indoor Farming Technology Market Size, Trends & Growth Opportunity and By Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, and Hybrid), By Facility Type (Glass or Poly Greenhouse, Indoor Vertical Farm, Container Farm, and Indoor DWC System), By Region and Forecast till 2027.

Global Indoor Farming Technology Market

The Global Indoor Farming Technology Market is expected to grow from US$ 16.08 Billion in 2021 to US$ 29.7 Billion by 2027; it is estimated to grow at a CAGR of 10.77% from 2021 to 2027.

Crops grown inside in a controlled atmosphere is an alternate growing technique. It is used to grow a variety of fruits and vegetables, microgreens, herbs, and ornamentals underneath greenhouses and container farms as well as on steeply inclined surfaces. Vegetables and other fruits are produced on a single level, either in a field or a greenhouse, in the case of indoor farming.

In order to produce crops perfectly and without any agronomic restrictions, indoor farming technology integrates a variety of technologies, including big data analytics, robotics, artificial intelligence (AI), and the internet of things (IoT).

Drivers: Rising consumer knowledge of the advantages of consuming fresh, high-quality food is predicted to be the main driver of growth. Additionally, the expanding industry is being fueled by the rising need for food due to the expanding global population, particularly in developing nations like China and India. The desire for fresh foods with more nutrients, the need for higher yields with less space and water, and less reliance on the outside weather are some of the factors propelling the expansion of the indoor farming technology market. The market for indoor agriculture benefits from the advancement of affordable and cutting-edge technology.

Restraints: The market for indoor farming technology is constrained, nevertheless, by high startup costs and restrictions on the types of crops that may be grown. Lack of skilled labour is one of the problems the indoor agricultural technology business is dealing with. The speed of indoor farming research and development is further slowed by financing restrictions at public institutions and colleges, which reduces the availability of information that would otherwise motivate farmers to spend.

Impact of Covid-19

The COVID-19 pandemic had a large effect on the world market for indoor agricultural technologies. Due to the coronavirus epidemic, indoor farming systems are anticipated to become increasingly popular, particularly in urban areas around the world. There were certain challenges facing the agriculture sector. Due to manpower constraints, several farmers lost their window of opportunity to harvest seasonal crops, benefit from declining agricultural product prices, and avoid disruptions in logistics. Many nations also became aware of their over reliance on food imports and started concentrating on domestic and internal production.

Segmentation By Growing System: Indoor Farming Technology Market is classified on the basis of Growing System into Hydroponics, Aeroponics, Aquaponics, Soil-based, and Hybrid. Over the anticipated period, the market's fastest growth rate will be seen in the hydroponics category. A simple definition of hydroponics is "gardening without soil." Water supplies plant life with nutrients, oxygen, and hydration in the absence of soil.

Segmentation By Facility Type: Indoor Farming Technology Market is classified on the basis of Facility Type into Glass or Poly Greenhouse, Indoor Vertical Farm, Container Farm, and Indoor DWC System. In the anticipated time frame, the indoor vertical farm segment is anticipated to rule the market. Indoor vertical farms are completely opaque, enclosed spaces that use hydroponic, aeroponic, and aquaponic vertical growing techniques.

Segmentation By Region: Indoor Farming Technology Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In comparison to other regional markets, the Asia Pacific market for indoor farming technology had the quickest rate of revenue growth in 2020. Some of the major factors propelling the growth of the Asia Pacific market include the rising adoption of indoor farming techniques, particularly in developing nations like Singapore, Japan, China, and India; rising government investments in the agricultural sector; rising popularity of greenhouse farming programmes; and rising demand for fresh organic produce.

Competitive Landscape: The key players of Indoor Farming Technology Market are Argus Control System Limited, Autogrow, CannaPro, Certhon, Current Lighting Solutions, LLC, Everlight Electronics Co., Ltd, Freight Farms, Inc., GE Lighting, General Hydroponics Inc., Illumitex, Logiqs B.V., Lumigrow, Lumileds, Netafim, OSRM GmbH, Priva Holdings B.V., and Richel Group.

Industrial Development

• Aero farms, a US-based indoor agriculture startup, partnered with Hortifrut SA in April 2021 for an unknown sum. A recognised B corporation in Chile, the company's main business activities included the manufacturing, distribution, import, and export of horticultural products. The partnership will concentrate on the study and advancement of the production of blueberries and cranberries in completely regulated vertical farms and indoor settings. Berry production and marketing enterprise Hortifrut SA is situated in Chile.

Market Taxonomy

By Growing System

• Hydroponics
• Aeroponics
• Aquaponics
• Soil-based
• Hybrid

By Facility Type

• Glass or Poly Greenhouse
• Indoor Vertical Farm
• Container Farm
• Indoor DWC System

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Indoor Farming Technology Market?
• What will be the growth rate from 2021 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?