Global Indoor Farming Technology Market - A Global and Regional Analysis

Focus on Key Technologies, Patents, Drivers, Opportunities, Challenges, and Applications

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A quick peek into the report

Market Report Coverage

Indoor Farming Technology Market
Forecast Period: 2021-2026
CAGR During Forecast Period: 14.80%

Indoor Farming Technology Market

Base Year

2020

Market Size in 2020

$5,603.2 Million

Forecast Period

2021-2026

Value Projection and Estimation by 2026

$12,767.3 Million

CAGR During Forecast Period

14.80%

Number of Tables

76

Number of Pages

205

Number of Figures

32

Market Segmentation

•    Growing Method: Hydroponics, Aeroponics, Aquaponics, Soil-Based, Hybrid

•    Facility: Greenhouses, Indoor Vertical Farms, Container Farms

•    Technology: Hardware System, Software and Services, Integrated System

Regional Segmentation

•    North America: U.S., Canada, and Mexico

•    Europe: France, Netherlands, Italy, Spain, Russia, and Rest-of-Europe

•    U.K.

•    China

•    Asia-Pacific: India, Japan, Singapore, Australia and New Zealand, and Rest-of-Asia-Pacific

•    Rest-of-the-World: Brazil, South Africa, U.A.E., Saudi Arabia

Market Growth Drivers

•    Increasing Demand for Global Food Security Owing to Population Growth and Urbanization

•    Growth in Adoption of Technology in Farming

•    Land Degradation and Decrease in Arable Land

•    Increased Government Support and Initiatives

Market Challenges

•    High Initial Investment and Operational Costs

•    Suitable for Production of Selective Crops

•    Limited Awareness Among Farmers

Market Opportunities

•    Pharmaceutical Plant Production Through Indoor Farming

•    Integration of Different Emerging Technology

•    Scope of Expansion in Developing Countries

Key Companies Profiled

AeroFarms, Artemis, American Hydroponics (AmHydro), Argus Control System Limited, Autogrow, CannaPro, Certhon, Current Lighting Solutions, LLC, Everlight Electronics Co., Ltd, Freight Farms, Inc., GE Lighting, General Hydroponics Inc., Illumitex, Logiqs B.V., Lumigrow, Lumileds, Netafim, OSRM GmbH, Priva Holdings B.V., Richel Group, Smart Cannabis Corp., Signify N.V., Tevatronic Ltd., Vertical Farm System Pty Ltd.

How This Report Can Add Value

This report covers major regions with an established indoor farming technology market.

This extensive report on global indoor farming technology market will help you with:

•    This report covers major regions with an established indoor farming technology market.
•    Patent analysis has been done to analyze the number of patents filed and granted in the indoor farming technology business from January 2018 to November 2021. Also, the percentage of patents by technology, growing methods, and patent offices has been shown.
•    Extensive competitive landscaping of the 24 market players has been done to offer a holistic view of the global indoor farming technology market landscape. Here strategies included in this segment are business expansions, mergers and acquisitions, partnerships and collaborations, and product launches done by different companies. The preferred strategy for the companies has been partnerships, collaborations, and joint ventures to strengthen their position in the global indoor farming technology market.
•    Market share analysis has also been done for the equipment manufacturers, technology providers, and growers.

Product/Innovation Strategy: The product segment helps the reader in understanding the different types of technology such as hardware system, software and services, and integrated system used in indoor farming and their market potential globally. Moreover, the study provides the reader a detailed understanding of different growing methods (i.e., aquaponics, hydroponics, aeroponics, hybrid, and soil-based). Also, this section gives an understanding of the facilities used in indoor farming, such as vertical farms, greenhouses, and container farms, and their application with benefits. Additionally, comprehensive coverage of different equipment required for a successful indoor farm set-up (i.e., lighting systems, climate control systems, irrigation systems, sensors, and monitoring systems) for various applications has also been added in the study.

Key Questions Answered in the Report

•    What is the estimated global indoor farming technology market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
•    What are the key trends, market drivers, and opportunities in the market pertaining to indoor farming technology?
•    What are the major restraints inhibiting the growth of the global indoor farming technology market?
•    What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
•    What is the competitive strength of the key players in the indoor farming technology market based on an analysis of their recent developments, product offerings, and regional presence?
•    How is the competitive benchmarking of the key indoor farming technology companies in the agriculture market based on the analysis of their market coverage and market potential?
•    How much revenue is each segment expected to record during the forecast period, along with the growth percentage?
•    Which type of players and stakeholders are operating in the market ecosystem of indoor farming technology, and what is their significance in the global market?
•    How does the regulatory landscape differ in different regions for indoor farming technology?

Report Summary

The global indoor farming technology market is expected to reach $12,767.3 million by 2026.

Indoor Farming Technology

Indoor farming is an alternative growing method where crops are grown in a controlled environment. It is employed to produce several vegetables and fruits, microgreens and herbs, and ornamentals on vertically inclined surfaces or under greenhouses and container farms. In the case of indoor farming, vegetables and other fruits are grown on a single level, such as in a field or a greenhouse.

Indoor farming technology involves the integration of numerous technologies such as big data analytics, robotics, artificial intelligence (AI), and the internet of things (IoT) so that crops can be produced perfectly without any agronomic constraint. Aquaponics, aeroponics, and hydroponics are alternate farming techniques under indoor farming in which plants are grown in a non-traditional way.

The key advantage of using indoor farming technologies is that it increases crop yield with a smaller unit area of land. In the earlier systems, wastewater from a fish tank was used to irrigate crops such as cucumbers and tomatoes in a grow-bed filled with sand. With the advancement of technology, equipment such as heating, ventilation, and air conditioning (HVAC), LED grow light, aeration system, and irrigation system, sensors, monitors, and others are being utilized for efficient crop growth through indoor farming.

Global Indoor Farming Technology Market Overview

The global indoor farming technology market is expected to reach $12,767.3 million by 2026, with a CAGR of 14.80% during the forecast period 2021-2026. The growth in the global indoor farming technology market is expected to be driven by increasing demand for food products, fresh and organic produce, and the requirement for an alternative growing method for sustainable agriculture.

Impact of COVID-19 on Indoor Farming Technology

The supply chain of most of the industries across the globe got impacted due to the COVID-19 pandemic, including the indoor farming industry. Even though produces are grown in a controlled environment in indoor farming, due to supply chain disruption, farms could not deliver the products to the market in the first stage of COVID-19. However, vaccines are available in almost all countries, and lockdown restriction has been evoked. Distribution channels are getting normalized; hence indoor farming companies are able to market their products, also gaining profits, and the market is growing.

Market Segmentation

Global Indoor Farming Technology Market by Technology

The indoor farming technology market by technology category is dominated by the hardware system segment. These hardware systems are known as the complete substitute of the natural conditions for traditional farming. The hardware systems play a key role in regulating these factors manually. Hence, sensors, controllers, climate control devices, lighting systems, irrigation systems, and other devices play a major role in this case.

Global Indoor Farming Technology Market by Facility

The global indoor farming technology market by facility category is dominated by the greenhouse segment. Greenhouses are inflated structures that are covered with transparent material for growing crops in a controlled environment. With the practice of controlled environment agriculture (CEA), the greenhouses employ climate control systems, such as fans, ventilators, and coolers. 

Global Indoor Farming Technology Market by Growing Method

The global indoor farming technology market by growing methods category is dominated by the hydroponic segment. Hydroponics is an age-old method of cultivating crops without soil. Instead, a water or nutrient solution is employed. In hydroponics, only the roots of the crops are exposed to nutrient or water solution for optimum growth, while the grower needs to regulate the composition of nutrients and the frequency at which the solution is supplied to the crops.

Global Indoor Farming Technology Market by Region

North America generated the highest revenue of $1,877.1 million in 2020, which is attributed to the technological advancements in this region. It is also one of the biggest agricultural hubs in the world. The region is expected to witness high growth of CAGR 15.80% during the forecast period.

Key Market Players and Competition Synopsis

Some of the key players operating in the market include Aerofarms, Agrilyst, American Hydroponics, Argus Control System Ltd., Autogrow Systems Ltd., Freight Farms, GE Lighting, General Hydroponics Inc., Illumitex, Signify N.V., Smart Cannabis Corp., among others.

The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (which holds 50-60% of the market) and mid-segment players (comprise of 30-40% share), and small and emerging companies (holds the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the indoor farming technology industry.

Table of Contents

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1.1    Industry Outlook
         1.1.1    Market Definition
         1.1.2    Impact of COVID-19 on Global Indoor Farming Technology Market
1.2    Business Dynamics
         1.2.1    Business Drivers
                     1.2.1.1    Increasing Demand for Global Food Security Owing to Population Growth and Urbanization
                     1.2.1.2    Growth in Adoption of Technology in Farming
                     1.2.1.3    Land Degradation and Decrease in Arable Land
                     1.2.1.4    Increased Government Support and Initiatives
         1.2.2    Business Challenges
                     1.2.2.1    High Initial Investment and Operational Costs
                     1.2.2.2    Suitable for Production of Selective Crops
                     1.2.2.3    Limited Awareness Among Farmers
         1.2.3    Business Strategies
                     1.2.3.1    Product Development
                     1.2.3.2    Market Developments
         1.2.4    Corporate Strategies
                     1.2.4.1    Mergers and Acquisitions
                     1.2.4.2    Partnerships, Collaborations, and Joint Ventures
                     1.2.4.3    Others
         1.2.5    Business Opportunities
                     1.2.5.1    Pharmaceutical Plant Production Through Indoor Farming
                     1.2.5.2    Integration of Different Emerging Technology
                     1.2.5.3    Scope of Expansion in Developing Countries

2.1    Global Indoor Farming Technology Market (by Application)
         2.1.1    Growing Methods
                     2.1.1.1    Hydroponics
                     2.1.1.2    Aeroponics
                     2.1.1.3    Aquaponics
                     2.1.1.4    Soil-Based
                     2.1.1.5    Hybrid
2.2    Demand Analysis Global Indoor Farming Technology Market (by Growing Method)
         2.2.1    Facility
                     2.2.1.1    Greenhouses
                     2.2.1.2    Indoor Vertical Farms
                     2.2.1.3    Container Farms
2.3    Demand Analysis of the Global Indoor Farming Technology Market (by Facility)

3.1    Global Indoor Farming Technology Market (by Product)
         3.1.1    Technology
                     3.1.1.1    Hardware System
                                    3.1.1.1.1    Lighting System
                                    3.1.1.1.2    Climate Control System
                                    3.1.1.1.3    Sensors, Controllers, and Monitoring Systems
                                    3.1.1.1.4    Irrigation System
                     3.1.1.2    Software and Services
                     3.1.1.3    Integrated System
3.2    Demand Analysis Global Indoor Farming Technology Market (by Technology)
3.3    Indoor Farming Technology Utilized in Crop Production
         3.3.1.1    Fruits and Vegetables
         3.3.1.2    Herbs and Microgreens
         3.3.1.3    Flowers and Ornamentals
         3.3.1.4    Medicinal Crops
         3.3.1.5    Others
3.4    Patent Analysis
         3.4.1    Patent Analysis (by Technology)
         3.4.2    Patent Analysis (by Growing Method)
         3.4.3    Patent Analysis (by Patent Office)
3.5    Supply Chain Network

4.1    North America
         4.1.1    Market
                     4.1.1.1    Key Manufacturers in North America
                     4.1.1.2    Business Drivers
                     4.1.1.3    Business Challenges
         4.1.2    Application
                     4.1.2.1    North America Indoor Farming Technology Market (by Facility)
         4.1.3    North America (by Country)
                     4.1.3.1    U.S.
                                    4.1.3.1.1    Market
                                                      4.1.3.1.1.1    Buyer Attributes
                                                      4.1.3.1.1.2    Key Manufacturers Operating in the U.S.
                                                      4.1.3.1.1.3    Business Challenges
                                                      4.1.3.1.1.4    Business Drivers
                     4.1.3.2    Canada
                                    4.1.3.2.1    Market
                                                      4.1.3.2.1.1    Buyer Attributes
                                                      4.1.3.2.1.2    Key Manufacturers Operating in Canada
                                                      4.1.3.2.1.3    Business Challenges
                                                      4.1.3.2.1.4    Business Drivers
                     4.1.3.3    Mexico
                                    4.1.3.3.1    Market
                                                      4.1.3.3.1.1    Buyer Attributes
                                                      4.1.3.3.1.2    Key Manufacturers Operating in Mexico
                                                      4.1.3.3.1.3    Business Challenges
                                                      4.1.3.3.1.4    Business Drivers
4.2    Europe
         4.2.1    Market
                     4.2.1.1    Key Manufacturers in Europe
                     4.2.1.2    Business Drivers
                     4.2.1.3    Business Challenges
         4.2.2    Application
                     4.2.2.1    Europe Indoor Farming Technology Market (by Facility)
         4.2.3    Europe (by Country)
                     4.2.3.1    France
                                    4.2.3.1.1    Market
                                                      4.2.3.1.1.1    Buyer Attributes
                                                      4.2.3.1.1.2    Key Manufacturers Operating in France
                                                      4.2.3.1.1.3    Business Challenges
                                                      4.2.3.1.1.4    Business Drivers
                     4.2.3.2    Italy
                                    4.2.3.2.1    Market
                                                      4.2.3.2.1.1    Buyer Attributes
                                                      4.2.3.2.1.2    Key Manufacturers Operating in Italy
                                                      4.2.3.2.1.3    Business Challenges
                                                      4.2.3.2.1.4    Business Drivers
                     4.2.3.3    Spain
                                    4.2.3.3.1    Market
                                                      4.2.3.3.1.1    Buyer Attributes
                                                      4.2.3.3.1.2    Key Manufacturers Operating in Spain
                                                      4.2.3.3.1.3    Business Challenges
                                                      4.2.3.3.1.4    Business Drivers
                     4.2.3.4    Netherlands
                                    4.2.3.4.1    Market
                                                      4.2.3.4.1.1    Buyer Attributes
                                                      4.2.3.4.1.2    Key Manufacturers Operating in the Netherlands
                                                      4.2.3.4.1.3    Business Challenges
                                                      4.2.3.4.1.4    Business Drivers
                     4.2.3.5    Russia
                                    4.2.3.5.1    Market
                                                      4.2.3.5.1.1    Buyer Attributes
                                                      4.2.3.5.1.2    Key Manufacturers Operating in Russia
                                                      4.2.3.5.1.3    Business Challenges
                                                      4.2.3.5.1.4    Business Drivers
                     4.2.3.6    Rest-of-Europe
                                    4.2.3.6.1    Market
                                                      4.2.3.6.1.1    Buyer Attributes
                                                      4.2.3.6.1.2    Key Manufacturers Operating in Rest-of-Europe
                                                      4.2.3.6.1.3    Business Challenges
                                                      4.2.3.6.1.4    Business Drivers
4.3    U.K.
         4.3.1    Market
                     4.3.1.1    Buyer Attributes
                     4.3.1.2    Key Manufacturers in the U.K.
                     4.3.1.3    Business Challenges
                     4.3.1.4    Business Drivers
         4.3.2    Application
                     4.3.2.1    U.K. Indoor Farming Technology Market (by Facility)
4.4    China
         4.4.1    Market
                     4.4.1.1    Buyer Attributes
                     4.4.1.2    Key Manufacturers in China
                     4.4.1.3    Business Challenges
                     4.4.1.4    Business Drivers
         4.4.2    Application
                     4.4.2.1    China Indoor Farming Technology Market (by Facility)
4.5    Asia-Pacific
         4.5.1    Market
                     4.5.1.1    Key Manufacturers in Asia-Pacific
                     4.5.1.2    Business Drivers
                     4.5.1.3    Business Challenges
         4.5.2    Application
                     4.5.2.1    Asia-Pacific Indoor Farming Technology Market (by Facility)
         4.5.3    Asia-Pacific (by Country)
                     4.5.3.1    Japan
                                    4.5.3.1.1    Market
                                                      4.5.3.1.1.1    Buyer Attributes
                                                      4.5.3.1.1.2    Key Manufacturers Operating in Japan
                                                      4.5.3.1.1.3    Business Challenges
                                                      4.5.3.1.1.4    Business Drivers
                     4.5.3.2    India
                                    4.5.3.2.1    Market
                                                      4.5.3.2.1.1    Buyer Attributes
                                                      4.5.3.2.1.2    Key Manufacturers Operating in India
                                                      4.5.3.2.1.3    Business Challenges
                                                      4.5.3.2.1.4    Business Drivers
                     4.5.3.3    Singapore
                                    4.5.3.3.1    Market
                                                      4.5.3.3.1.1    Buyer Attributes
                                                      4.5.3.3.1.2    Key Manufacturers Operating in Singapore
                                                      4.5.3.3.1.3    Business Challenges
                                                      4.5.3.3.1.4    Business Drivers
                     4.5.3.4    Australia and New Zealand
                                    4.5.3.4.1    Market
                                                      4.5.3.4.1.1    Buyer Attributes
                                                      4.5.3.4.1.2    Key Manufacturers Operating in Australia and New Zealand
                                                      4.5.3.4.1.3    Business Challenges
                                                      4.5.3.4.1.4    Business Drivers
                     4.5.3.5    Rest-of-Asia-Pacific
                                    4.5.3.5.1    Market
                                                      4.5.3.5.1.1    Buyer Attributes
                                                      4.5.3.5.1.2    Key Manufacturers Operating in the Rest-of-Asia-Pacific
                                                      4.5.3.5.1.3    Business Challenges
                                                      4.5.3.5.1.4    Business Drivers
4.6    Rest-of-the-World
         4.6.1    Market
                     4.6.1.1    Key Manufacturers in Rest-of-the-World
                     4.6.1.2    Business Drivers
                     4.6.1.3    Business Challenges
         4.6.2    Application
                     4.6.2.1    Rest-of-the-World Indoor Farming Technology Market (by Facility)
         4.6.3    Rest-of-the-World (by Country)
                     4.6.3.1    Brazil
                                    4.6.3.1.1    Market
                                                      4.6.3.1.1.1    Buyer Attributes
                                                      4.6.3.1.1.2    Key Manufacturers Operating in Brazil
                                                      4.6.3.1.1.3    Business Challenges
                                                      4.6.3.1.1.4    Business Drivers
                     4.6.3.2    South Africa
                                    4.6.3.2.1    Market
                                                      4.6.3.2.1.1    Buyer Attributes
                                                      4.6.3.2.1.2    Key Manufacturers Operating in South Africa
                                                      4.6.3.2.1.3    Business Challenges
                                                      4.6.3.2.1.4    Business Drivers
                     4.6.3.3    U.A.E.
                                    4.6.3.3.1    Market
                                                      4.6.3.3.1.1    Buyer Attributes
                                                      4.6.3.3.1.2    Key Manufacturers Operating in the U.A.E.
                                                      4.6.3.3.1.3    Business Challenges
                                                      4.6.3.3.1.4    Business Drivers
                     4.6.3.4    Saudi Arabia
                                    4.6.3.4.1    Market
                                                      4.6.3.4.1.1    Buyer Attributes
                                                      4.6.3.4.1.2    Key Manufacturers Operating in Saudi Arabia
                                                      4.6.3.4.1.3    Business Challenges
                                                      4.6.3.4.1.4    Business Drivers
                     4.6.3.5    Other Countries of Rest-of-the-World
                                    4.6.3.5.1    Market
                                                      4.6.3.5.1.1    Buyer Attributes
                                                      4.6.3.5.1.2    Key Manufacturers Operating in the Other Countries of the Rest-of-the-World
                                                      4.6.3.5.1.3    Business Challenges
                                                      4.6.3.5.1.4    Business Drivers

5.1    Competitive Benchmarking
5.2    Companies Ranking in Global Indoor Farming Technology Market
         5.2.1    Ranking for the Equipment Manufacturers in Global Indoor Farming Technology
5.3    Company Profiles
         5.3.1    AeroFarms
                    5.3.1.1    Company Overview
                                   5.3.1.1.1    Role of AeroFarms in the Global Indoor Farming Technology Market
                                   5.3.1.1.2    Product Portfolio
                                   5.3.1.1.3    Key Developments
                    5.3.1.2    Strengths and Weaknesses of AeroFarms
        5.3.2    Artemis
                    5.3.2.1    Company Overview
                                   5.3.2.1.1    Role of Artemis in the Global Indoor Farming Technology Market
                                   5.3.2.1.2    Product Portfolio
                                   5.3.2.1.3    Key Developments
                    5.3.2.2    Strengths and Weaknesses of Artemis
        5.3.3    American Hydroponics (AmHydro)
                    5.3.3.1    Company Overview
                                   5.3.3.1.1    Role of American Hydroponics in the Global Indoor Farming Technology Market
                                   5.3.3.1.2    Product Portfolio
                    5.3.3.2    Strengths and Weaknesses of American Hydroponics
        5.3.4    Argus Control System Limited
                    5.3.4.1    Company Overview
                                   5.3.4.1.1    Role of Argus Control System Limited in the Global Indoor Farming Technology Market
                                   5.3.4.1.2    Product Portfolio
                                   5.3.4.1.3    Key Developments
                    5.3.4.2    Strengths and Weaknesses of Argus Control System Limited
        5.3.5    Autogrow
                    5.3.5.1    Company Overview
                                   5.3.5.1.1    Role of Autogrow in the Global Indoor Farming Technology Market
                                   5.3.5.1.2    Product Portfolio
                    5.3.5.2    Strengths and Weaknesses of Autogrow
        5.3.6    CannaPro
                    5.3.6.1    Company Overview
                                   5.3.6.1.1    Role of CannaPro in the Global Indoor Farming Technology Market
                                   5.3.6.1.2    Product Portfolio
                                   5.3.6.1.3    Key Developments
                    5.3.6.2    Strengths and Weaknesses of CannaPro
        5.3.7    Certhon
                    5.3.7.1    Company Overview
                                   5.3.7.1.1    Role of Certhon in the Global Indoor Farming Technology Market
                                   5.3.7.1.2    Product Portfolio
                                   5.3.7.1.3    Key Developments
                    5.3.7.2    Strengths and Weaknesses of Certhon
        5.3.8    Current Lighting Solutions, LLC
                    5.3.8.1    Company Overview
                                   5.3.8.1.1    Role of Current Lighting Solutions, LLC in the Global Indoor Farming Technology Market
                                   5.3.8.1.2    Product Portfolio
                                   5.3.8.1.3    Key Developments
                    5.3.8.2    Strengths and Weaknesses of Current Lighting Solutions, LLC
        5.3.9    Everlight Electronics Co., Ltd
                    5.3.9.1    Company Overview
                                   5.3.9.1.1    Role of Everlight Electronics Co., Ltd in the Global Indoor Farming Technology Market
                                   5.3.9.1.2    Product Portfolio
                                   5.3.9.1.3    Key Developments
                    5.3.9.2    Strengths and Weaknesses of Everlight Electronics Co., Ltd
                    5.3.9.3    R&D Analysis
    5.3.10    Freight Farms, Inc.
                  5.3.10.1    Company Overview
                                   5.3.10.1.1    Role of Freight Farms, Inc. in the Global Indoor Farming Technology Market
                                   5.3.10.1.2    Product Portfolio
                                   5.3.10.1.3    Key Developments
                  5.3.10.2    Strengths and Weaknesses of Freight Farms, Inc.
    5.3.11    GE Lighting
                  5.3.11.1    Company Overview
                                   5.3.11.1.1    Role of GE Lighting in the Global Indoor Farming Technology Market
                                   5.3.11.1.2    Product Portfolio
                                   5.3.11.1.3    Key Developments
                  5.3.11.2    Strengths and Weaknesses of GE Lighting
    5.3.12    General Hydroponics Inc.
                  5.3.12.1    Company Overview
                                   5.3.12.1.1    Role of General Hydroponics Inc. in the Global Indoor Farming Technology Market
                                   5.3.12.1.2    Product Portfolio
                  5.3.12.2    Strengths and Weaknesses of General Hydroponics Inc.
    5.3.13    Illumitex
                  5.3.13.1    Company Overview
                                   5.3.13.1.1    Role of Illumitex in the Global Indoor Farming Technology Market
                                   5.3.13.1.2    Product Portfolio
                                   5.3.13.1.3    Key Developments
                  5.3.13.2    Strengths and Weaknesses of Illumitex
    5.3.14    Logiqs B.V.
                  5.3.14.1    Company Overview
                                   5.3.14.1.1    Role of Logiqs B.V. in the Global Indoor Farming Technology Market
                                   5.3.14.1.2    Product Portfolio
                                   5.3.14.1.3    Key Developments
                  5.3.14.2    Strengths and Weaknesses of Logiqs B.V.
    5.3.15    Lumigrow
                  5.3.15.1    Company Overview
                                   5.3.15.1.1    Role of Lumigrow in the Global Indoor Farming Technology Market
                                   5.3.15.1.2    Product Portfolio
                  5.3.15.2    Strengths and Weaknesses of Lumigrow
    5.3.16    Lumileds
                  5.3.16.1    Company Overview
                                   5.3.16.1.1    Role of Lumileds in the Global Indoor Farming Technology Market
                                   5.3.16.1.2    Product Portfolio
                                   5.3.16.1.3    Key Developments
                  5.3.16.2    Strengths and Weaknesses of Lumileds
    5.3.17    Netafim
                  5.3.17.1    Company Overview
                                   5.3.17.1.1    Role of Netafim in the Global Indoor Farming Technology Market
                                   5.3.17.1.2    Product Portfolio
                                   5.3.17.1.3    Key Developments
                  5.3.17.2    Strengths and Weaknesses of Netafim
    5.3.18    OSRM GmbH
                  5.3.18.1    Company Overview
                                   5.3.18.1.1    Role of OSRM GmbH in the Global Indoor Farming Technology Market
                                   5.3.18.1.2    Product Portfolio
                  5.3.18.2    Strengths and Weaknesses of OSRM GmbH
                  5.3.18.3    R&D Analysis
    5.3.19    Priva Holdings B.V.
                  5.3.19.1    Company Overview
                                   5.3.19.1.1    Role of Priva Holdings B.V. in the Global Indoor Farming Technology Market
                                   5.3.19.1.2    Product Portfolio
                                   5.3.19.1.3    Key Developments
                  5.3.19.2    Strengths and Weaknesses of Priva Holdings B.V.
    5.3.20    Richel Group
                  5.3.20.1    Company Overview
                                   5.3.20.1.1    Role of Richel Group in the Global Indoor Farming Technology Market
                                   5.3.20.1.2    Product Portfolio
                  5.3.20.2    Strengths and Weaknesses of Richel Group
    5.3.21    Smart Cannabis Corp.
                  5.3.21.1    Company Overview
                                   5.3.21.1.1    Role of Smart Cannabis Corp. in the Global Indoor Farming Technology Market
                                   5.3.21.1.2    Product Portfolio
                  5.3.21.2    Strengths and Weaknesses of Smart Cannabis Corp.
    5.3.22    Signify N.V.
                  5.3.22.1    Company Overview
                                   5.3.22.1.1    Role of Signify N.V. in the Global Indoor Farming Technology Market
                                   5.3.22.1.2    Product Portfolio
                                   5.3.22.1.3    Key Developments
                  5.3.22.2    Strengths and Weaknesses of Signify N.V.
                  5.3.22.3    R&D Analysis
    5.3.23    Tevatronic Ltd.
                  5.3.23.1    Company Overview
                                   5.3.23.1.1    Role of Tevatronic Ltd. in the Global Indoor Farming Technology Market
                                   5.3.23.1.2    Product Portfolio
                  5.3.23.2    Strengths and Weaknesses of Tevatronic Ltd.
    5.3.24    Vertical Farm System Pty Ltd.
                  5.3.24.1    Company Overview
                                   5.3.24.1.1    Role of Vertical Farm System Pty Ltd. in the Global Indoor Farming Technology Market
                                   5.3.24.1.2    Product Portfolio
                  5.3.24.2    Strengths and Weaknesses of Vertical Farm System Pty Ltd.

6.1    Data Sources
         6.1.1    Primary Data Sources
         6.1.2    Secondary Data Sources
         6.1.3    Data Triangulation
6.2    Market Estimation and Forecast

Table 1:    Business Expansions (by Company), January 2018–November 2021
Table 2:    Merger and Acquisition (by Company), January 2018–November 2021
Table 3:    Global Indoor Farming Technology (by Growing Method), $Million, 2020-2026
Table 4:    Total Number of Large Greenhouses Producing Vegetables Around the World
Table 5:    Greenhouse Facility Offered by Leading Players in the Market
Table 6:    Key Developments Pertaining to the Technologies for Greenhouse Indoor Farming
Table 7:    Indoor Vertical Farm Facility Offered by Leading Players in the Market
Table 8:    Key Developments Pertaining to the Technologies for Indoor Vertical Farms
Table 9:    Container Farm Facility Offered by Leading Players in the Market
Table 10:    Key Developments Pertaining to the Technologies for Indoor Vertical Farms
Table 11:    Global Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Table 12:    Grow Lights Offered by Leading Players in the Market
Table 13:    Key Developments Pertaining to the Technologies for Grow Lights Market
Table 14:    Climate Control System Offered by Leading Players in the Market
Table 15:    Sensors, Controllers, and Monitoring Systems Offered by Leading Players in the Market
Table 16:    Key Developments Pertaining to the Technologies for Sensors, Controllers, and Monitoring Systems Market
Table 17:    Irrigation System Offered by Leading Players in the Market
Table 18:    Key Developments Pertaining to the Irrigation System in the Market
Table 19:    Software and Services Offered by Leading Players in the Market
Table 20:    Integrated System Offered by Leading Players in the Market
Table 21:    Global Smart Agriculture Market (Technology), $Million, 2020-2026
Table 22:    Global Indoor Farming Technology Market (by Hardware System), $Million, 2020-2026
Table 23:    Average Annual Revenue Generated for Various Produce Types
Table 24:    Global Indoor Farming Technology Market (by Region), $Million, 2020-2026
Table 25:    North America Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Table 26:    North America Indoor Farming Technology Market (by Country), $Million, 2020-2026
Table 27:    Europe Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Table 28:    Europe Indoor Farming Technology Market (by Country), $Million, 2020-2026
Table 29:    U.K. Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Table 30:    China Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Table 31:    Asia-Pacific Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Table 32:    Asia-Pacific Indoor Farming Technology Market (by Country), $Million, 2020-2026
Table 33:    Rest-of-the-World Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Table 34:    Rest-of-the-World Indoor Farming Technology Market (by Country), $Million, 2020-2026
Table 35:    Ranking for the Equipment Manufacturers in Indoor Farming Technology Market, 2020
Table 36:    Ranking for the Software Providers in Indoor Farming Technology Market, 2020
Table 37:    Ranking for LED Lighting Solution Providers in Indoor Farming Technology Market, 2020
Table 38:    AeroFarms: Product Portfolio
Table 39:    AeroFarms: Key Developments
Table 40:    Artemis: Product Portfolio
Table 41:    Artemis: Key Developments
Table 42:    American Hydroponics: Product Portfolio
Table 43:    Argus Control System Limited: Product Portfolio
Table 44:    Argus Control System Limited: Key Developments
Table 45:    Autogrow: Product Portfolio
Table 46:    CannaPro: Product Portfolio
Table 47:    CannaPro: Key Developments
Table 48:    Certhon: Product Portfolio
Table 49:    Certhon: Key Developments
Table 50:    Current Lighting Solutions, LLC: Product Portfolio
Table 51:    Current Lighting Solutions, LLC: Key Developments
Table 52:    Everlight Electronics Co., Ltd: Product Portfolio
Table 53:    Everlight Electronics Co., Ltd: Key Developments
Table 54:    Freight Farms, Inc.: Product Portfolio
Table 55:    Freight Farms, Inc.: Key Developments
Table 56:    GE Lighting: Product Portfolio
Table 57:    GE Lighting: Key Developments
Table 58:    General Hydroponics Inc.: Product Portfolio
Table 59:    Illumitex: Product Portfolio
Table 60:    Illumitex: Key Developments
Table 61:    Logiqs B.V.: Product Portfolio
Table 62:    Logiqs B.V.: Key Developments
Table 63:    Lumigrow: Product Portfolio
Table 64:    Lumileds: Product Portfolio
Table 65:    Lumileds: Key Developments
Table 66:    Netafim: Product Portfolio
Table 67:    Netafim: Key Developments
Table 68:    OSRM GmbH: Product Portfolio
Table 69:    Priva Holdings B.V.: Product Portfolio
Table 70:    Priva Holdings B.V.: Key Developments
Table 71:    Richel Group: Product Portfolio
Table 72:    Smart Cannabis Corp.: Product Portfolio
Table 73:    Signify N.V.: Product Portfolio
Table 74:    Signify N.V.: Key Developments
Table 75:    Tevatronic Ltd.: Product Portfolio
Table 76:    Vertical Farm System Pty Ltd.: Product Portfolio

Figure 1:    Global Indoor Farming Technology Market, $Million, 2020-2026
Figure 2:    Market Drivers and Challenges in Global Indoor Farming Technology Market
Figure 3:    Global Indoor Farming Technology Market (by Technology), $Million, 2020-2026
Figure 4:    Global Indoor Farming Technology Market (by Facility), $Million, 2020-2026
Figure 5:    Global Indoor Farming Technology Market (by Growing Method), $Million, 2020-2026
Figure 6:    Global Indoor Farming Technology Market (by Region), $Million, 2020
Figure 7:    Global Indoor Farming Technology Market Coverage
Figure 8:    Number of Undernourished People in the World till 2020, Million
Figure 9:    Arable Land Use Per Person till 2018, Hectare
Figure 10:    Share of Key Market Strategies and Developments, January 2018–November 2021
Figure 11:    Product Development (by Company), January 2018–November 2021
Figure 12:    Partnerships, Collaborations, and Joint Ventures (by Company), January 2018–November 2021
Figure 13:    Global Indoor Farming Technology Market (by Application)
Figure 14:    Global Indoor Farming Technology Market (by Growing Method)
Figure 15:    Global Indoor Farming Technology Market (by Facility)
Figure 16:    Global Indoor Farming Technology Market (by Technology)
Figure 17:    Global Indoor Farming Technology Market (by Hardware System)
Figure 18:    Types of Lighting System
Figure 19:    Produces Grown Under Indoor Farming
Figure 20:    Patents Filed or Granted for the Global Indoor Farming Technology Market, January 2018-November 2021
Figure 21:    Patent Analysis (by Technology), January 2018-November 2021
Figure 22:    Patent Analysis (by Growing Method), January 2018-November 2021
Figure 23:    Patent Analysis (by Patent Office), November 2018-November 2021
Figure 24:    Supply Chain Analysis of Global Indoor Farming Technology Market
Figure 25:    Competitive Market High and Low Matrix
Figure 26:    Segmentation of Key Companies Profiled by Headquarter Location
Figure 27:    Everlight Electronics Co., Ltd: R&D Analysis, $Million, 2018-2020
Figure 28:    OSRM GmbH: R&D Analysis, $Million, 2018-2020
Figure 29:    Signify N.V.: R&D Analysis, $Million, 2018-2020
Figure 30:    Global Indoor Farming Technology Market: Research Methodology
Figure 31:    Data Triangulation
Figure 32:    Top-Down and Bottom-Up Approach

Market Report Coverage

Indoor Farming Technology Market

Base Year

2020

Market Size in 2020

$5,603.2 Million

Forecast Period

2021-2026

Value Projection and Estimation by 2026

$12,767.3 Million

CAGR During Forecast Period

14.80%

Number of Tables

76

Number of Pages

205

Number of Figures

32

Market Segmentation

•    Growing Method: Hydroponics, Aeroponics, Aquaponics, Soil-Based, Hybrid

•    Facility: Greenhouses, Indoor Vertical Farms, Container Farms

•    Technology: Hardware System, Software and Services, Integrated System

Regional Segmentation

•    North America: U.S., Canada, and Mexico

•    Europe: France, Netherlands, Italy, Spain, Russia, and Rest-of-Europe

•    U.K.

•    China

•    Asia-Pacific: India, Japan, Singapore, Australia and New Zealand, and Rest-of-Asia-Pacific

•    Rest-of-the-World: Brazil, South Africa, U.A.E., Saudi Arabia

Market Growth Drivers

•    Increasing Demand for Global Food Security Owing to Population Growth and Urbanization

•    Growth in Adoption of Technology in Farming

•    Land Degradation and Decrease in Arable Land

•    Increased Government Support and Initiatives

Market Challenges

•    High Initial Investment and Operational Costs

•    Suitable for Production of Selective Crops

•    Limited Awareness Among Farmers

Market Opportunities

•    Pharmaceutical Plant Production Through Indoor Farming

•    Integration of Different Emerging Technology

•    Scope of Expansion in Developing Countries

Key Companies Profiled

AeroFarms, Artemis, American Hydroponics (AmHydro), Argus Control System Limited, Autogrow, CannaPro, Certhon, Current Lighting Solutions, LLC, Everlight Electronics Co., Ltd, Freight Farms, Inc., GE Lighting, General Hydroponics Inc., Illumitex, Logiqs B.V., Lumigrow, Lumileds, Netafim, OSRM GmbH, Priva Holdings B.V., Richel Group, Smart Cannabis Corp., Signify N.V., Tevatronic Ltd., Vertical Farm System Pty Ltd.

How This Report Can Add Value

This extensive report on global indoor farming technology market will help you with:

•    This report covers major regions with an established indoor farming technology market.
•    Patent analysis has been done to analyze the number of patents filed and granted in the indoor farming technology business from January 2018 to November 2021. Also, the percentage of patents by technology, growing methods, and patent offices has been shown.
•    Extensive competitive landscaping of the 24 market players has been done to offer a holistic view of the global indoor farming technology market landscape. Here strategies included in this segment are business expansions, mergers and acquisitions, partnerships and collaborations, and product launches done by different companies. The preferred strategy for the companies has been partnerships, collaborations, and joint ventures to strengthen their position in the global indoor farming technology market.
•    Market share analysis has also been done for the equipment manufacturers, technology providers, and growers.

Product/Innovation Strategy: The product segment helps the reader in understanding the different types of technology such as hardware system, software and services, and integrated system used in indoor farming and their market potential globally. Moreover, the study provides the reader a detailed understanding of different growing methods (i.e., aquaponics, hydroponics, aeroponics, hybrid, and soil-based). Also, this section gives an understanding of the facilities used in indoor farming, such as vertical farms, greenhouses, and container farms, and their application with benefits. Additionally, comprehensive coverage of different equipment required for a successful indoor farm set-up (i.e., lighting systems, climate control systems, irrigation systems, sensors, and monitoring systems) for various applications has also been added in the study.

Key Questions Answered in the Report

•    What is the estimated global indoor farming technology market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
•    What are the key trends, market drivers, and opportunities in the market pertaining to indoor farming technology?
•    What are the major restraints inhibiting the growth of the global indoor farming technology market?
•    What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
•    What is the competitive strength of the key players in the indoor farming technology market based on an analysis of their recent developments, product offerings, and regional presence?
•    How is the competitive benchmarking of the key indoor farming technology companies in the agriculture market based on the analysis of their market coverage and market potential?
•    How much revenue is each segment expected to record during the forecast period, along with the growth percentage?
•    Which type of players and stakeholders are operating in the market ecosystem of indoor farming technology, and what is their significance in the global market?
•    How does the regulatory landscape differ in different regions for indoor farming technology?

Report Summary

Indoor Farming Technology

Indoor farming is an alternative growing method where crops are grown in a controlled environment. It is employed to produce several vegetables and fruits, microgreens and herbs, and ornamentals on vertically inclined surfaces or under greenhouses and container farms. In the case of indoor farming, vegetables and other fruits are grown on a single level, such as in a field or a greenhouse.

Indoor farming technology involves the integration of numerous technologies such as big data analytics, robotics, artificial intelligence (AI), and the internet of things (IoT) so that crops can be produced perfectly without any agronomic constraint. Aquaponics, aeroponics, and hydroponics are alternate farming techniques under indoor farming in which plants are grown in a non-traditional way.

The key advantage of using indoor farming technologies is that it increases crop yield with a smaller unit area of land. In the earlier systems, wastewater from a fish tank was used to irrigate crops such as cucumbers and tomatoes in a grow-bed filled with sand. With the advancement of technology, equipment such as heating, ventilation, and air conditioning (HVAC), LED grow light, aeration system, and irrigation system, sensors, monitors, and others are being utilized for efficient crop growth through indoor farming.

Global Indoor Farming Technology Market Overview

The global indoor farming technology market is expected to reach $12,767.3 million by 2026, with a CAGR of 14.80% during the forecast period 2021-2026. The growth in the global indoor farming technology market is expected to be driven by increasing demand for food products, fresh and organic produce, and the requirement for an alternative growing method for sustainable agriculture.

Impact of COVID-19 on Indoor Farming Technology

The supply chain of most of the industries across the globe got impacted due to the COVID-19 pandemic, including the indoor farming industry. Even though produces are grown in a controlled environment in indoor farming, due to supply chain disruption, farms could not deliver the products to the market in the first stage of COVID-19. However, vaccines are available in almost all countries, and lockdown restriction has been evoked. Distribution channels are getting normalized; hence indoor farming companies are able to market their products, also gaining profits, and the market is growing.

Market Segmentation

Global Indoor Farming Technology Market by Technology

The indoor farming technology market by technology category is dominated by the hardware system segment. These hardware systems are known as the complete substitute of the natural conditions for traditional farming. The hardware systems play a key role in regulating these factors manually. Hence, sensors, controllers, climate control devices, lighting systems, irrigation systems, and other devices play a major role in this case.

Global Indoor Farming Technology Market by Facility

The global indoor farming technology market by facility category is dominated by the greenhouse segment. Greenhouses are inflated structures that are covered with transparent material for growing crops in a controlled environment. With the practice of controlled environment agriculture (CEA), the greenhouses employ climate control systems, such as fans, ventilators, and coolers. 

Global Indoor Farming Technology Market by Growing Method

The global indoor farming technology market by growing methods category is dominated by the hydroponic segment. Hydroponics is an age-old method of cultivating crops without soil. Instead, a water or nutrient solution is employed. In hydroponics, only the roots of the crops are exposed to nutrient or water solution for optimum growth, while the grower needs to regulate the composition of nutrients and the frequency at which the solution is supplied to the crops.

Global Indoor Farming Technology Market by Region

North America generated the highest revenue of $1,877.1 million in 2020, which is attributed to the technological advancements in this region. It is also one of the biggest agricultural hubs in the world. The region is expected to witness high growth of CAGR 15.80% during the forecast period.

Key Market Players and Competition Synopsis

Some of the key players operating in the market include Aerofarms, Agrilyst, American Hydroponics, Argus Control System Ltd., Autogrow Systems Ltd., Freight Farms, GE Lighting, General Hydroponics Inc., Illumitex, Signify N.V., Smart Cannabis Corp., among others.

The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (which holds 50-60% of the market) and mid-segment players (comprise of 30-40% share), and small and emerging companies (holds the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the indoor farming technology industry.

FAQ's

What is the estimated growth rate of the indoor farming technology market in the coming years?

The global indoor farming technology market is expected to reach $12,767.3 million by 2026, with a CAGR of 14.80% during the forecast period 2021-2026.

Which are the top market players operating in the indoor farming technology market?

The top market players are AeroFarms, Artemis, American Hydroponics (AmHydro), Argus Control System Limited, Autogrow, CannaPro, Certhon, Current Lighting Solutions, LLC, Everlight Electronics Co., Ltd, Freight Farms, Inc., GE Lighting, General Hydroponics Inc., Illumitex, Logiqs B.V., Lumigrow, Lumileds, Netafim, OSRM GmbH, Priva Holdings B.V., Richel Group, Smart Cannabis Corp., Signify N.V., Tevatronic Ltd., Vertical Farm System Pty Ltd.

What are the factors driving the growth of the indoor farming technology market?

Factors driving the growth of the indoor farming technology market are increasing demand for global food security owing to population growth and urbanization, growth in adoption of technology in farming, land degradation and decrease in arable land, and increased government support and initiatives.

What are the challenges restricting the growth of the indoor farming technology market?

Some of the main challenges restricting the growth of the indoor farming technology market are high initial investment and operational costs, suitable for the production of selective crops, and limited awareness among farmers.

What are some of the opportunities in the indoor farming technology market?

The potential opportunities that are likely to boost the growth of the indoor farming technology market are pharmaceutical plant production through indoor farming, integration of different emerging technology, and scope of expansion in developing countries.

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