JordanWire™
No Result
View All Result
  • PR Services
  • Pricing
  • About Us
  • Contact Us
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
SUBMIT NEWS
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
No Result
View All Result
JordanWire™
Submit News
Home Press Releases

Indoor Farming Technology Market worth $32.3 billion by 2028

by JordanWire Newsroom
September 15, 2023
in Press Releases
Share on FacebookShare on Twitter


(EMAILWIRE.COM, September 15, 2023 ) According to a research report “Indoor Farming Technology Market by Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid), Facility Type, Component, Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals) and Region – Global Forecast to 2028″ published by MarketsandMarkets, the indoor farming technology market is projected to reach USD 32.3 billion by 2028 from USD 20.3 billion by 2023, at a CAGR of 9.7% during the forecast period in terms of value. The market for indoor farming technology is experiencing growth due to increasing demand for locally sourced and fresh produce which has led to a surge in indoor farming projects.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=40175861

By facility, glass or poly greenhouses are projected to dominate the market during the forecasted period.

Several factors are driving the expansion of glass or poly greenhouses in indoor farming. The growing need for locally produced and fresh produce has increased indoor farming initiatives, and greenhouses provide an efficient and controlled setting to meet this demand. Furthermore, advances in greenhouse technology, such as enhanced climate control systems, irrigation techniques, and automation, have made indoor farming more productive and profitable. Furthermore, growing environmental awareness and a drive to decrease carbon footprints have contributed to the appeal of greenhouses, which provide energy-efficient options for indoor agricultural farming. The expansion and demand for glass or poly greenhouses are projected to continue as the indoor farming business expands and evolves, driven by the need for efficient, sustainable, and high-quality crop production.

By component, lighting systems hold a significant market share during the forecast period.

Lighting systems have the largest market share in the component of the indoor farming market due to several factors. Lighting is required for plant growth in non-natural lighting settings. In the absence of sunlight, the quality of the light utilized in vertical farming (spectrum) is amplified to the greatest extent possible. Because artificial light is the only light source in vertical farming, higher light intensities are required in many supplemental light scenarios. In these non-natural light situations, increasing light intensity leads to a larger thermal load that must be cooled. A better light spectrum results in increased agricultural yields, allowing for lower intensities and lower energy usage. The key factors to consider when supplying illumination for plants are the light’s quality, quantity, and duration. The actual wavelengths that the lights offer to the plants are referred to as quality. Generally, lights provide either a light spectrum like that of the sun or a spectrum tailored to the needs of plants. Outdoor circumstances can be created by modifying the grow lights’ colors, temperatures, and spectrum outputs, as well as changing the intensity output of the lamps. Specific ranges of the spectrum, luminous efficacy, and color temperature are utilized with specific plants and periods depending on the type of plant farmed, the stage of culture, and the photoperiod required.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=40175861

North America is expected to increase its market share in the market during the forecast period.

North America is expected to increase its market share in the market for indoor farming technology and is projected to grow at the 2nd highest CAGR from 2023 to 2028. Because of the increasing rise of greenhouses and vertical farms in the United States and Canada, North America is one of the greatest indoor farming technology marketplaces. This agricultural concept, which is supported by the US government, has been promoted by cultivators. Hydroponic gardening techniques and technology are becoming increasingly popular in cities to help grocery stores produce fresh veggies. The years 2021 and 2022 were great for indoor agriculture and vertical farming. Private funding resulted in over USD 1.6 billion in investments in the United States, M&A activity increased, and several indoor farms went public. Following a decline in investments due to the epidemic in 2020, investments have now rebounded to higher levels than before.

The key players in this market include Scotts Company LLC (US), Signify Holding (Netherlands), EVERLIGHT ELECTRONICS CO., LTD (Taiwan), NETAFIM (Israel), Heliospectra AB (Sweden), Argus Control Systems Limited (Canada), Lumigrow, Inc (Canada), weisstechnik (US), Priva (Netherlands), LOGIQS.B.V. (Netherlands), Illumitex (US), AmHydro (US), RICHEL GROUP (France), Vertical Farm Systems (Australia), Hydroponic Systems International (Spain), Certhon (Netherlands), Bluelab (New Zealand), Barton Breeze (India), Green Sense Farms Holdings, Inc. (US), Greener Crop Inc. (Dubai), Sensaphone (US), Freight Farms Inc (US), Climate Control Systems Inc (US), Sky Greens (Singapore), and SANANBIO (China). These players have adopted various growth strategies such as partnerships, agreements, and collaborations to increase their global market presence.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441



Source link

Related Posts

Press Releases

Petrochemical Feedstock Market expected to Reach USD 402.95 Billion by 2029 at a CAGR of 4.3 percent

September 17, 2023
Press Releases

No-Code AI Platform Market to reach USD 22.98 Bn by 2029 at a growth rate of 28.6 percent over the forecast period

September 17, 2023
Press Releases

Oyster Mushroom Market to reach USD 84.33 Bn by 2029 at a growth rate of 7.6 percent over the forecast period

September 17, 2023
Press Releases

Shell and Tube Heat Exchanger Market Worth USD 10.43 Bn by 2029 Market Analysis, Material Estimates, End-Use Estimates, Region, Manufacturers, and Competitive Insights

September 16, 2023
Press Releases

Feed Phosphate Market is expected to Reach USD 3.3 Billion by 2029 at a CAGR of 4.2 percent

September 16, 2023
Press Releases

Generative AI Market to reach USD 88.06 Bn. by 2029, emerging at a CAGR of 35.5 percent for (2023-2029)

September 16, 2023
Next Post
Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East

A Beginner’s Guide to Mutual Funds

SUBSCRIBE TO OUR NEWSLETTER

    SHARE US

    Recommended

    Remodeling Market to grow at a CAGR of 4.3 percent to reach USD 1244.65 Bn by 2029

    April 9, 2023
    What Is an Offshore Bank Account? How Is it Useful?

    [Citibank] – Various Mutual Funds Investment Options Provided by Citibank in UAE

    September 1, 2023

    Veterinary Teleradiology Market Demand, Opportunities and Share Analysis 2022 to 2028

    October 27, 2022

    Blepharoplasty Market to hit USD 7.6 Mn at a CAGR of 8.5 percent over the forecast period

    May 12, 2023

    Historic back 9 secures British Open victory for Cameron Smith; Jordan Spieth finishes 8th

    July 19, 2022

    College of Agriculture and Life Sciences honors students and faculty … – Virginia Tech Daily

    May 8, 2023

    JordanWire™ publishes and aggregates business, socio-economic, Tech and industrial news on Qatar, Middle East and North Africa (MENA)..

    Press release distribution services:

    We provide press release distribution to media in Jordan, the Arab world and the GCC/MENA regions. Submit a press release today, contact us.

    RECENT NEWS

    Recent Posts
    • JoSourceIT: Jordan Source launches new digital publication for ICT Sector
    • Gen V: No. 2-Ranked Jordan Li Offers Godolkin University Student … – Bleeding Cool News
    • Jordan’s banking sector reflects resilience despite global challenges — KPMG
    • Deborah Jordan Obituary (1955-2023) – New Orleans, LA

    CATEGORIES

    Categories
    • Business
    • Energy
    • Finance
    • Healthcare
    • Middle East
    • Press Releases
    • Real Estate
    • Tech
    • Travel

    SUBSCRIBE TO OUR NEWSLETTER

      JordanWire™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

      • PR Services
      • Pricing
      • About Us
      • Contact Us
      No Result
      View All Result
      • Business
      • Energy
      • Finance
      • Healthcare
      • Real Estate
      • Tech
      • Travel
      • Press Releases
      • Middle East
      • About Us
        • Contact Us
        • Pricing
        • PR Services

      JordanWire™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC