According to the latest report, the vertical farming market size is predicted to reach a revenue of USD 6.5 Billion by the end of 2024 at a CAGR of roughly 20% during the forecast period of 2019 – 2024. Thorough segmentation of the industry by type, application, classification, and geography works as an impetus towards increasing the sale figures and boosting business prospects alongside the hindrances that often restrict the industry’s growth. In addition, bifurcation of the market on the basis of consumption volume, customer preference, end-user, and production capacity is explained through important resources including but not limited to charts, graphic images, and tables.
Factors such as less usage of fertilizers and
pesticides, water conservation, less usage of energy and growing demand for
food production are driving the growth of the vertical farming market. Also,
rising demand for high quality food, independent farming techniques and less
impact of climatic conditions are expected to boost the market over the
forecast period. Whereas, high investments and limitations on the crop types
are hampering the growth of the vertical farming market.
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Regional Classification
The Vertical Farming market has gained global
adoption due to rising demands for precision tools, expansion of industries,
and demand for better technologies. The global Vertical Farming market is
divided into North America, the Asia Pacific, Europe, and the rest of the world.
The European region is currently leading the market due to the well established
industrial sector, demands for smart alternates, demands for new technologies,
and other factors. The Asia Pacific region is the fastest-growing market due to
the fast expansion of major industries, the rapid development of economies, the
rise of demand for better technologies, and other factors.
Vertical Farming Market Share Growing Rapidly
with Top Manufacturers
The key players in the global vertical farming
market include Agrilution (Germany), Aerofarms (U.S.), 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), among others.
Vertical Farming Market Forecasts Segmentation
2016-2022.
The global Industry segmented into Vertical
Farming Market Size, type, component, voltage, application and region. By
type the segment is further classified into skid mounted and mobile Vertical
Farming. By component, the segment is further classified into switchgear, bus
bar, HVAC systems, transformer, frequency drives, monitoring and control
systems and others. By voltage, the segment, is further classified into low
voltage and medium voltage Vertical Farming. Vertical Farming are used in
various industries such as oil and gas, mining, transportation, and power utilities.
Apart from the uses and features, the global Vertical
Farming market Report faces challenges from
vendor dependency, security issues, and other factors, which has restrained the
global Vertical Farming market growth. This file offers a complete outlook
on the opposition, opportunities, drivers & restraints, and other factors
affecting the neighborhood and global serverless architecture marketplace. The
worldwide market is anticipated to sign in approximately 25 % annual growth in
this era.
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By Geography
Asia pacific
Europe
North America
The Middle East and Africa
Latin America
Covid 19 Analysis
Due to a rise in phishing activities, COVID-19 has
substantially increased the adoption of cloud infrastructure and services. In
addition, COVID-19 has significantly increased the security budget, which has
resulted in a large increase in cloud infrastructure and services. According to
the findings of a study conducted by Microsoft and published in August 2020,
36% of the total 800 respondents said that the budget for cybersecurity had
risen as a consequence of the pandemic outbreak. Additionally, 42 percent of
those who answered the survey said that the company altered its personnel by
adding more security experts.
Drivers and Restraints
The Vertical Farming market is driven by
numerous factors such as increasing construction FDI in the Asia Pacific
region, and policy reforms and policies that support them. Governments across
all regions are observed, their construction sector supported, and created. The
emerging economies are the ones that put in various reforms and regulations in
particular to fuel their infrastructure growth and the real estate market. Such
expansion is slated to increase scaffolding's market growth. The Vertical
Farming market has constraints such as fluctuating prices of raw materials and
slower economic growth, which hinder market development.
The Vertical Farming report highlights set of
information related to pricing and the category of customers who are more than
willing to pay for certain products and services. The information on
opportunities as well as product features, determine which offerings or
benefits command sale and identify the communications channels used by the Vertical
Farming market leaders to create premium positioning strategies as well as
attract broadest share.
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Table of contents:
1 EXECUTIVE SUMMARY
1.1 GLOBAL Vertical Farming MARKET, BY COMPONENT
1.2 GLOBAL Vertical Farming MARKET, BY ORGANIZATION
SIZE
1.3 GLOBAL Vertical Farming MARKET, BY DEPLOYMENT
1.4 GLOBAL Vertical Farming MARKET, BY END-USERS
1.5 GLOBAL Vertical Farming MARKET, BY REGION
2 MARKET INTRODUCTIONS
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
Continued…
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