Key Insights into the Indoor Farming Technology Market: Trends, Growth Rate, and Opportunities Through 2034
2104 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Indoor Farming Technology Market?
The increasing adoption of vertical farming in agriculture is expected to drive the growth of the indoor farming technology market. Vertical farming offers numerous benefits, including improved crop growth, reduced water usage, and minimal dependence on external weather conditions. In the UK, the Jones Food Company is producing 400 tons of vegetables annually using vertical farming methods. As vertical farming continues to expand, it is expected to boost the growth of indoor farming technology.
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#What Long-Term Growth Rate is Expected for theIndoor Farming Technology Market Between 2025 and 2034?
The indoor farming technology market will increase from $37.22 billion in 2024 to $42.08 billion in 2025, with a compound annual growth rate (CAGR) of 13.1%. The historical growth is driven by the rising demand for sustainable agriculture, urbanization, the local food movement, and population growth.
The indoor farming technology market is forecast to reach $68.28 billion by 2029 at a CAGR of 12.9%. Factors driving growth include climate change, water scarcity, and consumer preferences for sustainable food sources. Trends include investment in vertical farming, AI-driven agriculture, and the development of novel crops.
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What Are the Key Market Innovations in theIndoor Farming Technology Market Over the Coming Years?
Strategic partnerships are shaping the indoor farming technology market. Companies in this market are increasingly collaborating to enhance technological advancements. For example, in May 2023, Seasony, a robotics company based in Denmark, partnered with iFarm LLC, a Finland-based indoor farming technology provider. This partnership integrates the Watney mobile robot platform into agricultural operations, helping automate transportation and monitoring tasks, thus providing farmers with a sustainable and effective indoor farming solution.
Who Are the Top Companies Driving Innovation and Growth in theIndoor Farming Technology Market?
Major companies operating in the indoor farming technology market include Advanced Nutrients Holdings Inc., Agrilution GmbH, American Hydroponics LLC, BrightFarms Inc., General Hydroponics Inc., Hydrodynamics International Inc., Logiqs B. V., Netafim USA, Richel Group SA, Vertical Farm Systems Pty Ltd, AeroFarms LLC, Bowery Farming Inc., Emerald Harvest Inc., Freight Farms Inc., FreshBox Farms LLC, Grobo Inc., Metropolis Farms Inc., The Scotts Miracle-Gro Company, VitaLink Limited, Plenty Unlimited Inc., Crop One Holdings Inc., 80 Acres Farms LLC, Oasis Biotech Limited, AppHarvest Inc., Gotham Greens Holdings LLC, Green Sense Farms Holdings Inc., Lufa Farms Inc., Farm. One Inc., Infarm AG, Square Roots Inc., iFarm Project Ltd., Urban Crop Solutions NV, Local Roots Farms LLC, Kalera Inc., Valoya Oy, Heliospectra AB, Fluence by OSRAM GmbH, AEssenseGrows Inc., Nordic Harvest A/S
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Which Key Market Segments Comprise the Indoor Farming Technology Market and Drive Its Revenue Growth?
The indoor farming technology market covered in this report is segmented –
1) By Crop Type: Fruits And Vegetables, Flowers And Ornamentals, Herbs And Microgreens
2) By Component: Hardware, Software And Services, Integrated Systems
3) By Facility Type: Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture Systems
4) By Growing System: Aeroponics, Aquaponics, Hybrid
Subsegments:
1) By Fruits And Vegetables: Tomatoes, Lettuce, Peppers, Cucumbers, Strawberries
2) By Flowers And Ornamentals: Cut Flowers, Potted Plants, Foliage Plants
3) By Herbs And Microgreens: Basil, Cilantro, Chives, Radish Microgreens, Other Herbs And Microgreens
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Which Regions Are Emerging as Leaders in the Indoor Farming Technology Market?
North America was the largest region in the indoor farming technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor farming technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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