The Global Vertical Farming Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Vertical Farming will grow moderately over the forecast period. The market is forecasted to witness slow but steady growth by 2022, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2022).
With the advancement in technologies, sensors and robotics help farmers in taking their move towards vertical farming. Harvesting with LED Lighting Networks is again propelling the market growth as this offers network connectivity which boosts crop yields and quality and improving energy efficiency in vertical farming. The rapidly expanding movement to bring food production to urban centers is driving the demand of the vertical farming across the world. With this vertical farming, which can protect crops from unpredictable weather, and eliminate the use of pesticides, fertilizers, and herbicides? The mitigate crop loss due to shipping and storage, and cut down on fossil fuel usage are boosting the market growth of vertical farming market. The companies are investing in the developing controlled growing climates claim to be transforming agriculture into the green revolutions which will attract customers who buy organic products.
The Vertical Farming Market is driven by the factors such as growing demand for better quality of food, increasing population, less dependency on water & soil and increasing demand due to usages robust systems that produce high yields and keep labour costs low. The companies are investing in commercial greenhouses and indoor farms are widely used among the farmers, Manifestation of agricultural technology is again of the driving factor of the vertical farming market growth.
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Major key Players
Indoor Harvest Corporation (U.S.),
Koninklijke Philips N.V. (Netherlands),
Everlight Electronics co. (Taiwan),
Illumitex, Inc. (U.S.),
Sky Greens (Singapore),
Hort Americas (U.S.),
Urban Crop Solutions (Belgium),
Mouser Electronics (U.S),
Bright Agrotech. (U.S),
Indoor Harvest Corp (U.S)
Industry / Innovation/ Related News:
December 5, 2017 – Osram has acquired Munich-based start-up agrilution as to stimulate and manage plant growth and for cultivating plants in greenhouses or indoor spaces. The company is planning to use special LED technology which will provides an optimal growing environment by automatically regulating temperature, watering, and lighting conditions.
Jan. 10, 2017– Indoor Harvest Corp has announced an alliance with OneWorld Business Finance. With this announcement, the company is planning to expand their business offering towards Vertical Farm Development Financing across North America.
July 7, 2017 – AeroFarms is using new technology and high-tech innovation and the latest science, innovation is revolutionizing for vertical farming. With these with innovation and changing industries to incentivize creating the new economic opportunities as well as producing green farming.
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Vertical Farming Global Market is expected to be dominated by North America with the largest market share due to increasing population, employment generation and adoption of new technological solutions in these regions, and therefore accounting for a huge economy by 2022. Vertical Farming Market in Asia-Pacific market is expected to grow at a considerable rate of CAGR. The Asia Pacific region includes Chin, India and Japan is expected to boost this region majorly due to urbanization, less of fertile land and more investments for developing vertical farming systems. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of Vertical Farming solutions in the region.
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