Indoor Farming market accounted for $106.6 billion in 2017 and is expected to reach $171.12 billion by 2026 growing at a CAGR of 5.4 % during the forecast period. Indoor farming is a kind of modern farming to grow crops or plants in an indoor environment. It is worked in both small and large scale. It is climate-friendly and shields the farm from climate-related ideas which generally acts as a hindrance in conventional crop production. It is widely practiced in urban areas owing to limited space for cultivating. In recent years, development in the technology of farming sensors, monitoring and regulating devices for each aspect of cultivation has promoted indoor farming.
Factors such as growing mechanisms in indoor farming and increasing focus on adopting innovative and efficient technologies are boosting the market growth. However, limitations on crop varieties and high initial investments are the restraining the market growth. Moreover, increasing need for maximizing crop yields will provide ample growth opportunities in the near future.
Some of the key players in this market include:Indoor Farms of America, Freshbox Farms, Aerofarms, Contain Inc., Philips Lighting, Garden Fresh Farms, Metropolis Farms and Bowery Farming.
Factors such as growing mechanisms in indoor farming and increasing focus on adopting innovative and efficient technologies are boosting the market growth. However, limitations on crop varieties and high initial investments are the restraining the market growth. Moreover, increasing need for maximizing crop yields will provide ample growth opportunities in the near future.
Some of the key players in this market include:Indoor Farms of America, Freshbox Farms, Aerofarms, Contain Inc., Philips Lighting, Garden Fresh Farms, Metropolis Farms and Bowery Farming.
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