Indoor Farming Technology Market - HARD COPY

Key Questions Answered in this Report:

• How is the indoor farming technology market performing in terms of revenue generation and what is the expectation of growth by 2024?
• Which of the major technology types among hardware, software and services, and integrated systems in indoor farming technology dominate the market?
• How are the drivers, such as increasing concern for food security, climate change, scarcity of water and arable land, expected to impact the indoor farming technology industry?
• How are certain factors such as high initial investments and carbon footprint expected to restrain the growth of the market?
• How much revenue is expected to be generated by:
a. different types of technologies provided in the indoor farming industry?
b. different facilities of indoor farms, namely greenhouses, indoor vertical farms, and container farms?
c. different methods of growing used in indoor farming such as hydroponics, aeroponics, aquaponics, soil-based, and hybrid?
d. different produce types that are grow indoors, such as vegetables, fruits, microgreens and herbs, medicinal crops, and others?
e. different regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW)?
• Who are the major players in the indoor farming technology market? What are the key market strategies being adopted by these companies?
Global Indoor Farming Technology Market Forecast, 2019-2024
The Indoor Farming Technology Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 15.23% during the forecast period from 2019 to 2024. Meeting the growing food demand of the increasing global population has become a matter of concern at present. Arable land data in 2030 is expected to decrease to 1800 m² from 2,200 m² in 2005. Moreover, extremities in global climate is highly impacting the overall agricultural output. Therefore, to meet the global food demand, utilizing technologies to operate indoor farms is increasingly being adopted by the growers currently.
The indoor farming technology market growth is majorly driven by factors such as rise in the demand for food globally and increasing push from government for the adoption of alternative agricultural practices. However, factors such as considerable investments to set-up an indoor farm and consequent profitability hamper the overall market growth. Moreover, the development of cost-efficient growing technologies for indoor farms are anticipated to create numerous opportunities for the market growth.
Expert Quote on Global Indoor Farming Technology Market
"With the increasing pressure on the global food production and adoption of modern farming practices and technologies, the adoption of indoor farming practices is expected to increase, which, in turn, would enhance the growth of the technology market for indoor farms. Additionally, software and services is anticipated to be the potential segment, expected to register the highest CAGR from 2019 to 2024. The demand of these applications in the indoor farming market is increasing due to the upcoming trends in the farming practices and technologies."
Scope of the Market Intelligence on Global Indoor Farming Technology Market
The global indoor farming technology market research provides a detailed perspective regarding the applications of the technology, its value and estimation, among others. The purpose of this market analysis is to examine the indoor farming technology industry outlook in terms of factors driving the market, trends, developments, and emerging trends, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contributions of the key players operating in the market. The indoor farming technology report is a compilation of different segments including market breakdown by technology type, facility type, growing method type, produce type, and region.
Market Segmentation
The indoor farming technology market segmentation (on the basis of technology type) is further segmented into hardware systems, software and services, and integrated systems. Hardware systems segment dominated the global indoor farming technology market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2024).
The indoor farming technology market segmentation on the basis of facility type is segmented into greenhouses, indoor vertical farms, and container farms. The greenhouse segment dominated the global indoor farming technology market in 2018 and is anticipated to maintain its dominance throughout the forecast period.
The indoor farming technology market segmentation on the basis of growing methods is segmented into hydroponics, aeroponics, aquaponics, soil-based, and hybrid. The hydroponics segment dominated the global indoor farming technology market in 2018 and is anticipated to maintain its dominance throughout the forecast period.
The indoor farming technology market segmentation on the basis of produce type is segmented into vegetables, fruits, microgreens and herbs, medicinal crops, and others. The vegetables segment dominated the global indoor farming technology market in 2018 and is anticipated to maintain its dominance throughout the forecast period.
The indoor farming technology market segmentation by region is segregated under four major regions, such as North America, Europe, APAC and Rest-of-the-World. Data for each of these regions is provided by facility type and by country.
Key Companies in the Indoor Farming Technology Industry
The key market players in the global indoor farming technology market include Signify, OSRAM GmbH, Certhon, Argus Control Systems, Agrilyst, Current by GE, and Freight Farms, among others.
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Increasing Need for Global Food Security
1.1.2 Increase in Overall Crop Yield
1.1.3 Decline in Arable Land
1.1.4 Increasing Concerns Regarding Climate Change
1.2 Market Restraints
1.2.1 High Initial Investment and Operational Costs
1.2.2 Impact of Indoor Farming on Environmental and Energy
1.3 Market Opportunities
1.3.1 Producing Pharmaceutical Plants through Indoor Farming
1.3.2 Opportunities in Asia-Pacific, Middle-East, and Africa

2 Competitive Landscape
2.1 Key Market Developments and Strategies
2.1.1 Partnerships, Collaborations & Joint Ventures
2.1.2 New Product Launches and Developments
2.1.3 Business Expansions and Contracts
2.1.4 Mergers and Acquisitions
2.1.5 Others (Awards and Recognitions)
2.2 Competitive Analysis
3 Industry Analysis
3.1 Industry Attractiveness
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat from Substitutes
3.1.5 Intensity of Competitive Rivalry
3.2 Investment and Funding Landscape
3.3 Emerging Trends in the Indoor Farming Technology Market
3.3.1 Expansion of Indoor Farming to Commercial Establishments
3.3.2 Growing Role of Artificial Intelligence in Indoor Farming
4 Global Indoor Farming Technology Market (by Technology Type)
4.1 Assumptions and Limitations for Analysis and Forecast of the Global Indoor Farming Technology Market
4.2 Market Overview
4.3 Hardware Systems
4.3.1 Lighting Systems
4.3.2 Climate Control Systems
4.3.3 Sensors, Controllers, and Monitoring Systems
4.3.4 Irrigation Systems
4.4 Software and Services
4.5 Integrated Systems
5 Global Indoor Farming Technology Market (by Facility Type)
5.1 Market Overview
5.2 Greenhouses
5.3 Indoor Vertical Farm
5.4 Container Farm
6 Global Indoor Farming Technology Market (by Growing Methods)
6.1 Market Overview
6.2 Hydroponics
6.3 Aeroponics
6.4 Aquaponics
6.5 Soil-Based
6.6 Hybrid
7 Global Indoor Farming Technology Market (by Produce Type)
7.1 Market Overview
7.2 Vegetables
7.3 Microgreens and Herbs
7.4 Fruits
7.5 Flowers and Ornamentals
7.6 Medicinal Crops
7.7 Others
8 Global Indoor Farming Technology Market, (by Region)
8.1 North America
8.1.1 North America (by Facility Type)
8.1.2 North America (by Country)
8.1.2.1 U.S.
8.1.2.2 Canada
8.1.2.3 Mexico
8.2 Europe
8.2.1 Europe (by Facility Type)
8.2.2 Europe (by Country)
8.2.2.1 U.K.
8.2.2.2 France
8.2.2.3 Italy
8.2.2.4 Spain
8.2.2.5 Netherlands
8.2.2.6 Russia
8.2.2.7 Rest-of-Europe
8.3 Asia-Pacific
8.3.1 Asia-Pacific (by Facility Type)
8.3.2 Asia-Pacific (by Country)
8.3.2.1 Japan
8.3.2.2 China
8.3.2.3 Australia and New Zealand (ANZ)
8.3.2.4 Singapore
8.3.2.5 India
8.3.2.6 Rest-of-Asia-Pacific
8.4 Rest-of-the-World (RoW)
8.4.1 RoW (by Facility Type)
8.4.2 Rest-of-the-World (by Country)
8.4.2.1 U.A.E.
8.4.2.2 Saudi Arabia
8.4.2.3 Brazil
8.4.2.4 South Africa
8.4.2.5 Others
9 Company Profiles
9.1 Aerofarms
9.1.1 Company Overview
9.1.2 Role of Aerofarms in Indoor Farming Technology Market
9.1.3 SWOT Analysis
9.2 Agrilyst
9.2.1 Company Overview
9.2.2 Role of Agrilyst in Indoor Farming Technology Market
9.2.3 SWOT Analysis
9.3 American Hydroponics
9.3.1 Company Overview
9.3.2 Role of American Hydroponics in Indoor Farming Technology Market
9.3.3 SWOT Analysis
9.4 Argus Control Systems Ltd.
9.4.1 Company Overview
9.4.2 Role of Argus Control Systems Ltd. in Indoor Farming Technology Market
9.4.3 SWOT Analysis
9.5 Autogrow Systems Ltd.
9.5.1 Company Overview
9.5.2 Role of Autogrow System Limited in Indoor Farming Technology Market
9.5.3 SWOT Analysis
9.6 CannaPro
9.6.1 Company Overview
9.6.2 Role of Cannapro in Indoor Farming Technology Market
9.6.3 SWOT Analysis
9.7 Certhon
9.7.1 Company Overview
9.7.2 Role of Certhon in Indoor Farming Technology Market
9.7.3 SWOT Analysis
9.8 Current by General Electric
9.8.1 Company Overview
9.8.2 Role of Current by General Electric in Indoor Farming Technology Market
9.8.3 SWOT Analysis
9.9 Everlight Electronics Co., Ltd.
9.9.1 Company Overview
9.9.2 Role of Everlight Electronics Co., Ltd. in Indoor Farming Technology Market
9.9.3 Financials
9.9.4 Key Insights about the Financial Health of the Company
9.9.5 SWOT Analysis
9.10 Freight Farms
9.10.1 Company Overview
9.10.2 Role of Freight Farms in Indoor Farming Technology Market
9.10.3 SWOT Analysis
9.11 GE Lighting
9.11.1 Company Overview
9.11.2 Role of GE Lighting in Indoor Farming Technology Market
9.11.3 SWOT Analysis
9.12 General Hydroponics Inc.
9.12.1 Company Overview
9.12.2 Role of General Hydroponics Inc. in Indoor Farming Technology Market
9.12.3 SWOT Analysis
9.13 Illumitex
9.13.1 Company Overview
9.13.2 Role of Illumitex in Indoor Farming Technology Market
9.13.3 SWOT Analysis
9.14 Logiqs B.V.
9.14.1 Company Overview
9.14.2 Role of Logiqs B.V. in Indoor Farming Technology Market
9.14.3 SWOT Analysis
9.15 Lumigrow
9.15.1 Company Overview
9.15.2 Role of Lumigrow in Indoor Farming Technology Market
9.15.3 SWOT Analysis
9.16 Lumileds
9.16.1 Company Overview
9.16.2 Role of Lumileds in Indoor Farming Technology Market
9.16.3 SWOT Analysis
9.17 Netafim
9.17.1 Company Overview
9.17.2 Role of Netafim in Indoor Farming Technology Market
9.17.3 SWOT Analysis
9.18 OSRAM GmbH
9.18.1 Company Overview
9.18.2 Role of OSRAM GmbH in Indoor Farming Technology Market
9.18.3 Financials
9.18.4 Key Insights about the Financial Health of the Company
9.18.5 SWOT ANALYSIS
9.19 Priva Holding B.V.
9.19.1 Company Overview
9.19.2 Role of Priva Holding B.V. in Indoor Farming Technology Market
9.19.3 SWOT Analysis
9.20 Richel Group
9.20.1 Company Overview
9.20.2 Role of Richel Group in Indoor Farming Technology Market
9.20.3 SWOT Analysis
9.21 Smart Cannabis Corp.
9.21.1 Company Overview
9.21.2 Role of Smart Cannabis Corp. in Indoor Farming Technology Market
9.21.3 SWOT Analysis
9.22 Signify N.V.
9.22.1 Company Overview
9.22.2 Role of Signify N.V. in Indoor Farming Technology Market
9.22.3 Financials
9.22.4 Key Insights about the Financial Health of the Company
9.22.5 SWOT Analysis
9.23 Tevatronic Ltd.
9.23.1 Company Overview
9.23.2 Role of Tevatronic Ltd. in Indoor Farming Technology Market
9.23.3 SWOT Analysis
9.24 Vertical Farm System Pty Ltd.
9.24.1 Company Overview
9.24.2 Role of Vertical Farm System Pty Ltd. in Indoor Farming Technology Market
9.24.3 SWOT Analysis
9.25 Other Key Players in the Indoor Farming Technology Industry
10 Report Scope and Methodology
10.1 Report Scope
10.2 Indoor Farming Technology Market Research Methodology
10.2.1 Assumptions
10.2.2 Limitations
10.2.3 Primary Data Sources
10.2.4 Secondary Data Sources
10.2.5 Data Triangulation
10.2.6 Market Estimation and Forecast
List of Tables
Table 1.1: Impact Analysis of Drivers
Table 1.2: Comparison between Yields from Vertical Farming and Traditional Farming
Table 1.3: Climate Damage Estimates on Global GDP at Different Degrees of Global Warming
Table 1.4: Impact Analysis of Restraints
Table 1.5: Impact Analysis of Opportunities
Table 2.1: Leading Players in the Global Indoor Farming Technology Market
Table 3.1: Analyzing the Threat of New Entrants
Table 3.2: Analyzing the Bargaining Power of Buyers
Table 3.3: Analyzing the Bargaining Power of Suppliers
Table 3.4: Analyzing the Threat from Substitutes
Table 3.5: Analyzing the Intensity of Competitive Rivalry
Table 3.6: Global Indoor Farming Technology Market Investment and Funding, 2017-2019
Table 4.1: Global Indoor Farming Technology Market (by Technology Type), $Million, 2018-2024
Table 4.2: Global Indoor Farming Technology Market (by Hardware Systems), $Million, 2018-2024
Table 4.3: Grow Lights Offered by Leading Players in the Market
Table 4.4: Key Developments Pertaining to the Technologies for Grow Lights Market
Table 4.5: Climate Control Systems Offered by Key Players in the Market
Table 4.6: Sensors, Controlling, and Monitoring Systems Offered by Leading Players in the Market
Table 4.7: Key Developments pertaining to the Technologies for Sensors, Controlling, and Monitoring Market
Table 4.8: Irrigation Systems Offered by Leading Players in the Market
Table 4.9: Software and Services Offered by Leading Players in the Market
Table 4.10: Integrated Systems Offered by Leading Players in the Market
Table 5.1: Global Indoor Farming Technology Market (by Facility Type), $Million, 2018-2024
Table 5.2: Number of Large Greenhouses Producing Vegetables Around the World
Table 5.3: Key Developments Pertaining to the Technologies for Greenhouse Indoor Farming
Table 5.4: Key Developments Pertaining to the Technologies in Vertical Indoor Farming
Table 6.1: Global Indoor Farming Technology Market (by Growing Methods), $Million, 2018-2024
Table 7.1: Global Indoor Farming Technology Market (by Produce Type), $Million, 2018-2024
Table 7.2: Average Annual Revenue Generated for Various Produce Types
Table 8.1: Regional Indoor Farming Technology Market, $Million, 2018-2024
Table 8.2: North America Indoor Farming Technology Market (by Facility Type), $Million, 2018-2024
Table 8.3: North America Indoor Farming Technology Market (by Country), $Million, 2018-2024
Table 8.4: Most Crops Grown in the U.S.
Table 8.5: State-Wise Revenue Generation from Production of Most Valued Agricultural Commodities in Nurseries, Greenhouses, Floriculture, and Sod
Table 8.6: Europe Indoor Farming Technology Market, (by Facility Type), $Million, 2018-2024
Table 8.7: Europe Indoor Farming Technology Market (by Country), $Million, 2018-2024
Table 8.8: Asia-Pacific Indoor Farming Market (by Facility Type), $Million, 2018-2024
Table 8.9: Asia-Pacific Indoor Farming Technology Market (by Country), $Million, 2018-2024
Table 8.10: RoW Indoor Farming Technology Market (by Facility Type), $Million, 2018-2024
Table 8.11: Rest-of-the-World Indoor Farming Technology Market (by Country), $Million, 2018-2024
Table 9.1: Aerofarms: Product Portfolio
Table 9.2: Agrilyst: Product Portfolio
Table 9.3: American Hydroponics Limited: Product Portfolio
Table 9.4: Argus Control Systems Ltd.: Product Portfolio
Table 9.5: Autogrow System Limited: Product Portfolio
Table 9.6: Cannapro: Product Portfolio
Table 9.7: Certhon: Product Portfolio
Table 9.8: Current by General Electronics: Product Portfolio
Table 9.9: Everlight Electronics Co., Ltd.: Product Portfolio
Table 9.10: Freight Farms: Product Portfolio
Table 9.11: GE Lighting: Product Portfolio
Table 9.12: General Hydroponics Inc.: Product Portfolio
Table 9.13: Illumitex: Product Portfolio
Table 9.14: Logiqs B.V.: Product Portfolio
Table 9.15: Lumigrow: Product Portfolio
Table 9.16: Lumileds: Product Portfolio
Table 9.17: Netafim: Product Portfolio
Table 9.18: OSRAM GmbH: Product Portfolio
Table 9.19: Priva: Product Portfolio
Table 9.20: Richel Group: Product Portfolio
Table 9.21: Smart Cannabis Corp.: Product Portfolio
Table 9.22: Signify N.V.: Product Portfolio
Table 9.24: Vertical Farm System Pty Ltd.: Product Portfolio
Table 9.25: Other Key Indoor Farming Technology Market Players
List of Figures
Figure 1: Macroeconomic Trends Affecting the Global Indoor Farming Technology Market
Figure 2: Drivers and Restraints – Global Indoor Farming Technology Market
Figure 3: Global Indoor Farming Technology Market Snapshot
Figure 4: Global Indoor Farming Technology Market by Technology Type ($Million)
Figure 5: Global Indoor Farming Technology Market by Facility Type
Figure 6: Global Indoor Farming Technology Market by Growing Method Type
Figure 7: Global Indoor Farming Technology Market by Produce Type
Figure 8: Regional Indoor Farming Technology Market Snapshot
Figure 1.1: Market Dynamics
Figure 1.2: Number of Undernourished People in the World, 2018
Figure 1.3 Arable Land Per Person, 2016
Figure 1.4: Average Expenditure for Different Farms Sizes
Figure 2.1: Strategies Adopted by the Key Players (January 2016-June 2019)
Figure 2.2: Share of Key Market Strategies and Developments (January 2016-June 2019)
Figure 2.3: Partnerships, Collaborations and Joint Ventures Share (by Company)
Figure 2.4: New Product Launches and Development Share (by Company)
Figure 2.5: Business Expansion and Contract Share (by Company)
Figure 2.6: Merger and Acquisition Share (by Company)
Figure 3.1: Porter’s Five Forces Analysis
Figure 3.2: Investment and Funding Landscape (by Company Type)
Figure 3.3: Advantages of Using Artificial Intelligence for Indoor Farming
Figure 4.1: Indoor Farming Technology: By Technology Type
Figure 4.2: Global Indoor Farming Technology Market (by Technology Type), 2019-2024
Figure 4.3: Indoor Farming Technology: By Hardware Systems
Figure 4.4: Types of Lighting Systems
Figure 4.5: Lighting Systems in the Indoor Farming Technology Market, 2018-2024
Figure 4.6: Climate Control Systems in the Indoor Farming Technology Market, 2018-2024
Figure 4.7: Sensors, Controllers, and Monitoring Systems in the Indoor Farming Technology Market, 2018-2024
Figure 4.8: Irrigation Systems in the Indoor Farming Technology Market, 2018-2024
Figure 4.9: Software and Services in the Indoor Farming Technology Market, 2018-2024
Figure 4.10: Integrated Systems in the Indoor Farming Technology Market, 2018-2024
Figure 5.1: Indoor Farming Technology: By Facility Type
Figure 5.2: Global Indoor Farming Technology Market (by Facility Type), 2019-2024
Figure 5.4: Global Indoor Farming Technology Market (by Greenhouses), 2018-2024
Figure 5.5: Global Indoor Farming Technology Market (by Indoor Vertical Farm), 2018-2024
Figure 5.6: Global Indoor Farming Technology Market (by Container Farms), 2018-2024
Figure 6.1: Indoor Farming Technology: By Growing Methods
Figure 6.2: Global Indoor Farming Technology Market (by Growing Methods), 2019-2024
Figure 6.3: Global Indoor Farming Technology Market (by Hydroponics), 2018-2024
Figure 6.4: Global Indoor Farming Technology Market (by Aeroponics), 2018-2024
Figure 6.5: Global Indoor Farming Technology Market (by Aquaponics), 2018-2024
Figure 6.6: Global Indoor Farming Technology Market (by Soil-Based), 2018-2024
Figure 6.7: Global Indoor Farming Technology Market (by Hybrid), 2018-2024
Figure 7.1: Indoor Farming Technology: By Produce Type
Figure 7.2: Global Indoor Farming Technology Market (by Produce Type), 2018-2024
Figure 7.3: Global Indoor Farming Technology Market (by Vegetables), 2018-2024
Figure 7.4: Global Indoor Farming Technology Market (by Microgreens and Herbs), 2018-2024
Figure 7.5: Global Indoor Farming Technology Market (by Fruits), 2018-2024
Figure 7.6: Global Indoor Farming Technology Market (by Flowers and Ornamentals), 2018-2024
Figure 7.7: Global Indoor Farming Technology Market (by Medicinal Crops), 2018-2024
Figure 7.8: Global Indoor Farming Technology Market (by Other Crops), 2018-2024
Figure 8.1: Indoor Farming Technology: Regional Market Snapshot
Figure 8.2: Greenhouse Vegetable Growers in North America
Figure 8.3: North America Indoor Farming Technology Market, 2018-2024
Figure 8.4: Area under Vegetable Greenhouse in North America, 2019
Figure 8.5: Indoor Farming Technology Market in the U.S., 2018-2024
Figure 8.6: Share of Greenhouses by State and by Vegetable Type, 2017
Figure 8.7: Indoor Farming Technology Market in Canada, 2018-2024
Figure 8.8: Indoor Farming Technology Market in Mexico, 2018-2024
Figure 8.9: Europe Indoor Farming Technology Market, 2018-2024
Figure 8.10: Area under Vegetable Greenhouse in Europe, 2019
Figure 8.11: Indoor Farming Technology Market in the U.K., 2018-2024
Figure 8.12: Indoor Farming Technology Market in France, 2018-2024
Figure 8.13: Indoor Farming Technology Market in Italy, 2018-2024
Figure 8.14: Indoor Farming Technology Market in Spain, 2018-2024
Figure 8.15: Indoor Farming Technology Market in the Netherlands, 2018-2024
Figure 8.16: Indoor Farming Technology Market in Russia, 2018-2024
Figure 8.17: Indoor Farming Technology Market in Rest-of-Europe, 2018-2024
Figure 8.18: Asia-Pacific Indoor Farming Technology Market, 2018-2024
Figure 8.19: Area under Vegetable Greenhouse in Asia-Pacific, 2019
Figure 8.20: Indoor Farming Technology Market in Japan, 2018-2024
Figure 8.21: Indoor Farming Technology Market in China, 2018-2024
Figure 8.22: Indoor Farming Technology Market in ANZ, 2018-2024
Figure 8.23: Indoor Farming Technology Market in Singapore, 2018-2024
Figure 8.24: Indoor Farming Technology Market in India, 2018-2024
Figure 8.25: Indoor Farming Technology Market in Rest-of-Asia-Pacific, 2018-2024
Figure 8.26: Rest-of-the-World Indoor Farming Technology Market, 2018-2024
Figure 8.27: Area under Vegetable Greenhouse in Rest-of-the-World, 2019
Figure 8.28: Indoor Farming Technology Market in U.A.E, 2018-2024
Figure 8.29: Indoor Farming Technology Market in Saudi Arabia, 2018-2024
Figure 8.30: Indoor Farming Technology Market in Brazil, 2018-2024
Figure 8.31: Indoor Farming Technology Market in South Africa, 2018-2024
Figure 8.32: Others Indoor Farming Technology Market, 2018-2024
Figure 9.1: Segmentation of Key Companies Profiled by Headquarter Location
Figure 9.2: Aerofarms: SWOT Analysis
Figure 9.3: Agrilyst: SWOT Analysis
Figure 9.4: American Hydroponics: SWOT Analysis
Figure 9.5: Argus Control Systems Ltd.: SWOT Analysis
Figure 9.6: Autogrow System Limited: SWOT Analysis
Figure 9.7: Cannapro: SWOT Analysis
Figure 9.8: Certhon: SWOT Analysis
Figure 9.9: Current by General Electronics: SWOT Analysis
Figure 9.10: Everlight Electronics Co., Ltd.: Overall Financials, 2015-2017
Figure 9.11: Everlight Electronics Co., Ltd.: Net Revenue (by Region), 2015
Figure 9.12: Everlight Electronics Co., Ltd.: Net Revenue (by Region), 2016-2017
Figure 9.13: Everlight Electronics Co., Ltd.: Net Revenue by Business Segment, 2015-2017
Figure 9.14: Research and Development: Everlight Electronics Co., Ltd. – 2015 to 2017
Figure 9.15: Everlight Electronics Co., Ltd.: SWOT Analysis
Figure 9.16: Freight Farms: SWOT Analysis
Figure 9.17: GE Lighting: SWOT Analysis
Figure 9.18: General Hydroponics Inc.: SWOT Analysis
Figure 9.19: Illumitex: SWOT Analysis
Figure 9.20: Logiqs B.V.: SWOT Analysis
Figure 9.21: Lumigrow: SWOT Analysis
Figure 9.22: Lumileds: SWOT Analysis
Figure 9.23: Netafim: SWOT Analysis
Figure 9.24: OSRAM GmbH: Overall Financials, 2016-2018
Figure 9.25: OSRAM GmbH: Net Revenue by Business Segment, 2016-2018
Figure 9.26: OSRAM GmbH: Net Revenue (by Region), 2016-2018
Figure 9.27: Research and Development: OSRAM Gmbh – 2016 to 2018
Figure 9.28: OSRAM GmbH: SWOT Analysis
Figure 9.29: Priva Holding B.V.: SWOT Analysis
Figure 9.30: Richel Group: SWOT Analysis
Figure 9.31: Smart Cannabis Corp.: SWOT Analysis
Figure 9.32: Signify N.V.: Overall Financials, 2016-2018
Figure 9.33: Signify N.V.: Net Revenue (by Business Segment), 2016-2018
Figure 9.34: Signify N.V.: Net Revenue (by Region), 2016-2018
Figure 9.35: Research and Development: Signify N.V. – 2016 to 2018
Figure 9.36: Signify N.V.: SWOT Analysis
Figure 9.37: Tevatronic Ltd.: SWOT Analysis
Figure 9.38: Vertical Farm System Pty Ltd.: SWOT Analysis
Figure 10.1: Indoor Farming Technology Market Scope
Figure 10.2: Report Methodology
Figure 10.3: Primary Interviews Breakdown (by Company, Designation and Region)
Figure 10.4: Sources of Secondary Research
Figure 10.5: Data Triangulation
Figure 10.6: Top-Down and Bottom-Up Approach for Market Estimation
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Italy
Spain
Netherlands
Russia
Rest-of-Europe
Asia-Pacific
Japan
China
Australia and New Zealand (ANZ)
Singapore
India
Rest-of-Asia-Pacific
Rest-of-the-World
U.A.E.
Saudi Arabia
Brazil
South Africa
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The global food economy is being progressively compelled by the gradual change in the food consumption patterns. Indoor farming is a perfect alternative to conventional farming, which has been adopted since early 1900s, but at non-commercial and small scales. The practice of growing crops in greenhouses, which have been predominantly low-tech, has been in existence since a long time. With the innovations in urban planning and sustainability, indoor farming has gained importance as a local method of production in cities. Think tanks in the U.S. and Japan have increased awareness for indoor farming across the globe. This increase in indoor farming has been associated with developments in technology for every operation carried out in an indoor farm. As of 2018, the most established technology is the hardware components, such as lighting, climate control systems, sensors, and monitors, which enable cultivation of crops indoors.
With the increasing need to make an indoor farm profitable, developments in the application of software and related services, along with the trend of automation to eliminate human interference, has taken shape in the industry. Most of the developed nations have become the early adopters of the most advanced technologies. These countries include the U.S., Canada, the U.K., the Netherlands, and Japan, where both technology providers and growers are more concentrated as compared to other countries. However, emerging nations, especially countries such as China, India, the U.A.E., Mexico, and Singapore, are observing a massive growth in the adoption of technologies incorporated in indoor farms, owing to the rising demand for produce from such facilities. This robust growth in developing regions has been largely propelled by increasing urban population and growing disposable incomes, which in turn have stimulated the growth in the consumption of fresh, healthy, and nutritious food.
According to the latest report by BIS Research, titled ‘Global Indoor Farming Technology Market – Analysis and Forecast (2019-2024)’, the indoor farming technology market is expected to reach $12.02 billion by 2024, rising at a CAGR of 15.23% from 2019 to 2024. The growth of the market is largely attributed due to the adoption of technologies pertaining to indoor vertical farms along with software and services in the indoor farming industry.
Few Companies Mentioned in the Report:
• Aerofarms
• Agrilyst
• American Hydroponics
• Argus Control Systems Ltd.
• Autogrow Systems Ltd.
• CannaPro
• Certhon
• Current by General Electric
• Everlight Electronics Co., Ltd.
• Freight Farms
• GE Lighting
• General Hydroponics Inc.
• Illumitex
• Logiqs B.V.
• Lumigrow
• Lumileds
• Netafim
• OSRAM GmbH
• Priva Holding B.V.
• Richel Group
• Smart Cannabis Corp.
• Signify N.V.
• Tevatronic Ltd.
• Vertical Farm System Pty Ltd.
Key Questions Addressed in the Report:
• How is indoor farming a solution to the increasing global food demand and depleting natural resources?
• What are the factors encouraging the uptake of indoor farming technologies? How opportunistic is the software and services market in the indoor farming sector?
• How is high investment cost affecting the adoption of indoor farming technologies by growers? What solutions can be undertaken by the companies to overcome the cost factor?
• How competitive is the industry in terms of market developments by key players such as business expansions, collaborations, acquisitions, agreements, and new product developments?
• What is the positioning of the leading players in the lighting systems market on the basis of their revenue contribution?
• What has been the investment and funding landscape in the global indoor farming technology market in the last three years? What is the market attractiveness for emerging start-ups?
• Which is the most common facility type to deploy indoor farming technologies? What is the expected growth potential for different facility types during the forecast period?
• Who are the leading players offering technologies for different facilities in the indoor farming sector?
• What is the expected future scenario and revenue generated by different types of indoor farming solutions including hardware systems, software, and services?
• How important are different hardware solutions such as lighting systems, control systems, and sensing systems in the indoor farms?
• Which are the most profitable crops and the emerging crop types that are expected to be compatible with indoor farming technologies?
• Which is the most dominant region in terms of technology adoption, revenue generation, and presence of companies?
• What are the major facility types for which indoor farming technologies are being used in different regions?
Aerofarms
Agrilyst
American Hydroponics
Argus Control Systems Ltd.
Autogrow Systems Ltd.
CannaPro
Certhon
Current by General Electric
Everlight Electronics Co., Ltd.
Freight Farms
GE Lighting
General Hydroponics Inc.
Illumitex
Logiqs B.V.
Lumigrow
Lumileds
Netafim
OSRAM GmbH
Priva Holding B.V.
Richel Group
Smart Cannabis Corp.
Signify N.V.
Tevatronic Ltd.
Vertical Farm System Pty Ltd.
Global Indoor Farming Technology Market is Projected to Reach $12.02 Billion by 2024