Indoor Farming Technology Market Overview:
Indoor Farming Technology Market has been valued $ 14.5million in the year 2021 and it is estimated to reach $24.8million by the year 2026, with a CAGR of 9.6% from 2021 to 2026. Indoor Farming means growing crops in a small area and people are growing the necessary crops in their own houses on a small scale instead of having food that is free from pests. Demand for Indoor Farming is increasing due to the factors like limited land use, water efficiency, and the benefits of controlled farming devoid of any climate change are the major factor to have huge growth in the Indoor Farming Technology market
Indoor Farming Technology Market Drivers and Restrains:
Indoor Farming means a concern of limited space where as some certain plants can be grown in smaller areas. Demand for the Indoor Farming is increasing due to features used in indoor farming creates a good growing condition to the farmers to grow a crop from seed to the harvesting stages in lesser time and obtain higher yields in smaller areas are the major factor to have huge growth in the Indoor Farming market. In addition indoor farming has a higher yield compared to conventional farming methods, is the main advantage to have huge demand for Indoor Farming. In Indoor Farming less water is required to grow the same crops as compared to outdoor farming and Indoor farms recirculate and reuse the water.
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Report is segmented as:
Global Indoor Farming Technology market is segmented Based on growing system, components, facility type, and crop types.
* Indoor Farming Technology market is segmented Based on growing system into Growing System Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid.
* Indoor Farming Technology market is segmented Based on Facility Type into Glass or Poly Greenhouses, Container Farms, Indoor Vertical Farms and Indoor Deep Water Culture (DWC) Frameworks.
* Indoor Farming Technology market is segmented Based on Component into Hardware and Software and Solutions.
* Indoor Farming Technology market is segmented Based on Crop Type into Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals.
Indoor Farming Technology market is divided in the groundwork of regional evaluation into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounted a major share in the global Indoor Farming Technology market. In North America region US growers have been able to adopt large-scale indoor farming. On the different hand, Latin America will have smart boom in the coming years. Europe, Asia Pacific and Middle East & Africa Indoor Farming Technology market has a slower increase in upcoming years.
Impact of COVID-19 on Indoor Farming Technology Market:
Covid -19 pandemic has affected their business in every sector. The government has implemented lockdown in several countries due to this many industries are shutdown and millions of people have become unemployed. Due to Covid -19 many individuals have developed a critical point of view towards outdoor food this has made an inclination towards home cooking and self-made/homemade meals. After the devastating outbreak of corona virus pandemic, the adoption charge of city indoor farming structures round the world are estimated to upward push sharply.