The indoor farming technology market was valued at USD 25.40 Billion in 2017, and is projected to reach USD 40.25 Billion by 2022, at a CAGR of 9.65%. The market for indoor farming technology is expected to grow in the next few years due to the growth in demand for fresh foods with high nutritive value and the adoption of protected cultivation.
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• The Asia Pacific region is projected to be the fastest-growing market for indoor farming technology over the next five years. This can be attributed to the increase in the number of indoor farms in countries such as China and Japan, and the climate variations in this region.
• The global market for indoor farming technology is dominated by large-scale players such as Philips Lighting (Netherlands), Netafim (Israel), Argus Controls Systems (Canada), EVERLIGHT Electronics (Taiwan), and LumiGrow (US). Logiqs (Netherlands), Illumitex (US), Vertical Farm Systems (Australia), Hydrodynamics International (US), General Hydroponics (US), Richel Group (France), and agrilution (Germany) are a few other key market players that also hold a significant share of the indoor farming technology market.
• Manufacturers of indoor farming equipment
• Associations and industry bodies
• Government and research organizations
• Key indoor farming component manufacturers key companies
• Manufacturers, traders, distributors, and suppliers of hydroponics, aeroponics, and aquaponics
• Technology providers for indoor farming