Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Indoor Farming Market size is expected to reach $88.2 billion by 2028, rising at a market growth of 12.7% CAGR during the forecast period.
Software segment is showcasing a CAGR of 15.2% during (2022 - 2028). The rising utilization of software is due to the increasing technological advancements in software applications. With the integration of several advanced technologies in indoor farming software, users all over the world are being enabled to store and manage all the information about their farms on their computer systems. This factor is increasing the deployment of indoor farming software solutions and hence, augmenting the growth of this segment.
The Greenhouses segment acquired maximum revenue in the Global Indoor Farming Market by Facility Type in 2021, thereby, achieving a market value of $45.0 billion by 2028. A greenhouse, sometimes known as a hothouse, is a glass-enclosed structure that is used to produce plants, vegetables, and flowers. Climate conditions are managed in greenhouses to improve the quality as well as quantity of products. Greenhouses can also produce larger yields than typical farming methods, due to which, this technology is being widely adopted all over the world.
The Tomato segment is leading the Global Indoor Farming Market by Crop Type in 2021, thereby, achieving a market value of $21.9 billion by 2028.The increasing growth of the segment is owing to a rise in the demand for various products that are made up of tomatoes. For example, various market players in packaged food industries are providing tomato ketchups along with their foods. Moreover, tomatoes are a daily-use product across the world. This factor is also expediting the demand for tomatoes.
The Europe fastest growing region in the Global Indoor Farming Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $29.6 billion by 2028. The Asia Pacific market is estimated to witness a CAGR of 13.3% during (2022 - 2028). Additionally, The North America market would exhibit a CAGR of 12.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/indoor-farming-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Orbia Advance Corporation, Certhon, General Hydroponics, Hydrodynamics International, Argus Control Systems Limited, Priva BV, LumiGrow, Inc., Richel Group, and Vertical Farm Systems Pty Ltd.
By Facility Type
By Crop Type
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