Vertical Farming Market to Rise at 24.8% CAGR till 2026; Growing Demand for Efficient Crop Produce Will Contribute to Market Growth, says Fortune Business Insights™

Pune, June 04, 2020 (GLOBE NEWSWIRE) — The global vertical farming market size is projected to reach USD 12.04 Billion by 2026. Increasing technological advancements have allowed improved efficacies as well as enhanced output. According to a report published by Fortune Business Insights, titled “Vertical Farming Market Size, Share & Industry Analysis, By Type (Hydroponics, Aeroponics, and Aquaponics), By Structure (Building-Based, Shipping-Container), By Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, and Others) and Regional Forecast, 2019-2026,” the market was worth USD 2.13 billion and will exhibit a CAGR of 24.8% during the forecast period, 2019-2026.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Click here to get the short-term and long-term impact of COVID-19 on this market.Please visit: https://www.fortunebusinessinsights.com/industry-reports/vertical-farming-market-101958
Increasing Number of Company Mergers Will Aid GrowthThe report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers have had the highest impact on market growth. The increasing investment in the development of newer vertical farming equipment, coupled with the efforts put in to acquire medium as well as small scale enterprises will contribute to the growth of the market. In 2017, Signify Holding. (Philips Lighting) announced a collaboration with Ecobain Gardens to build the first ever commercial vertical farm operation in Canada. This partnership offers customers attractive returns on investments via healthier, nutritious and rich foods that attract new customers. The report identifies a few of the leading company mergers of recent times and gauges their impact on the growth of the market.
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The report analyzes the ongoing vertical farming market trends across major regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in Asia Pacific is projected to dominate the market in the coming years, driven by growing incorporation of technologically advanced systems in vertical farming practices. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years, owing to increasing investments in product R&D. As of 2018, the market in North America was worth USD 664.7 million and this value is likely to increase further in the coming years.
List of the leading companies that are operating in the global vertical farming market are:AeroFarmsGreen Sense Farms Holdings, Inc.4D Bios, Inc.AgrilutionAMHYDROEVERLIGHT ELECTRONICS CO., LTD.Koninklijke Philips N.V.Hort AmericasIllumitex Inc.Sky GreensPlantagon InternationalPLENTY UNLIMITED INCThrive Agritech.Key Industry Developments:May 2019 –  Thrive Agritech, Inc., announced the launch of Apex LED grow light for high-intensity applications including supplemental greenhouse lighting and source lighting for indoor farming.February 2017 –  Signify Holding. (Philips Lighting) collaborated with Ecobain Gardens to build first commercial vertical farm operation in Canada. Through this, businesses will be able to accelerate growing cycles and grow healthier, more consistent plants. This partnership offers customers attractive returns on investments via healthier, nutritious and rich foods that attract new customers.IntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersGlobal Vertical Farming Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Size Estimates and ForecastsBy Type (Value)HydroponicsAeroponicsAquaponicsBy Structure (Value)Building-Based Vertical FarmsShipping-Container Vertical FarmsBy Component (Value)Lighting SystemIrrigation and Fertigation SystemClimate ControlSensorsOthersBy Region (Value)North AmericaEuropeAsia PacificMiddle East and AfricaLatin AmericaTOC Continued…!!!
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