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Global Indoor Farming Technology Market Report 2021-2026: Focus on Hydroponics, Aeroponics, Aquaponics, Soil-Based, Hybrid Methods

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Dublin, Jan. 31, 2022 (GLOBE NEWSWIRE) — The “Global Indoor Farming Technology Market – A Global and Regional Analysis: Focus on Key Technologies, Patents, Drivers, Opportunities, Challenges, and Applications” report has been added to ResearchAndMarkets.com’s offering.

The global indoor farming technology market is expected to reach $12,767.3 million by 2026, with a CAGR of 14.80% during the forecast period 2021-2026.

The growth in the global indoor farming technology market is expected to be driven by increasing demand for food products, fresh and organic produce, and the requirement for an alternative growing method for sustainable agriculture.

Indoor Farming Technology

Indoor farming is an alternative growing method where crops are grown in a controlled environment. It is employed to produce several vegetables and fruits, microgreens and herbs, and ornamentals on vertically inclined surfaces or under greenhouses and container farms. In the case of indoor farming, vegetables and other fruits are grown on a single level, such as in a field or a greenhouse.

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Indoor farming technology involves the integration of numerous technologies such as big data analytics, robotics, artificial intelligence (AI), and the internet of things (IoT) so that crops can be produced perfectly without any agronomic constraint. Aquaponics, aeroponics, and hydroponics are alternate farming techniques under indoor farming in which plants are grown in a non-traditional way.

The key advantage of using indoor farming technologies is that it increases crop yield with a smaller unit area of land. In the earlier systems, wastewater from a fish tank was used to irrigate crops such as cucumbers and tomatoes in a grow-bed filled with sand. With the advancement of technology, equipment such as heating, ventilation, and air conditioning (HVAC), LED grow light, aeration system, and irrigation system, sensors, monitors, and others are being utilized for efficient crop growth through indoor farming.

Impact of COVID-19 on Indoor Farming Technology

The supply chain of most of the industries across the globe got impacted due to the COVID-19 pandemic, including the indoor farming industry. Even though produces are grown in a controlled environment in indoor farming, due to supply chain disruption, farms could not deliver the products to the market in the first stage of COVID-19.

However, vaccines are available in almost all countries, and lockdown restriction has been evoked. Distribution channels are getting normalized; hence indoor farming companies are able to market their products, also gaining profits, and the market is growing.

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Market Segmentation

Global Indoor Farming Technology Market by Technology

The indoor farming technology market by technology category is dominated by the hardware system segment. These hardware systems are known as the complete substitute of the natural conditions for traditional farming. The hardware systems play a key role in regulating these factors manually. Hence, sensors, controllers, climate control devices, lighting systems, irrigation systems, and other devices play a major role in this case.

Global Indoor Farming Technology Market by Facility

The global indoor farming technology market by facility category is dominated by the greenhouse segment. Greenhouses are inflated structures that are covered with transparent material for growing crops in a controlled environment. With the practice of controlled environment agriculture (CEA), the greenhouses employ climate control systems, such as fans, ventilators, and coolers.

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Global Indoor Farming Technology Market by Growing Method

The global indoor farming technology market by growing methods category is dominated by the hydroponic segment. Hydroponics is an age-old method of cultivating crops without soil. Instead, a water or nutrient solution is employed. In hydroponics, only the roots of the crops are exposed to nutrient or water solution for optimum growth, while the grower needs to regulate the composition of nutrients and the frequency at which the solution is supplied to the crops.

Global Indoor Farming Technology Market by Region

North America generated the highest revenue of $1,877.1 million in 2020, which is attributed to the technological advancements in this region. It is also one of the biggest agricultural hubs in the world. The region is expected to witness high growth of CAGR 15.80% during the forecast period.

How This Report Can Add Value

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Product/Innovation Strategy: The product segment helps the reader in understanding the different types of technology such as hardware system, software and services, and integrated system used in indoor farming and their market potential globally.

Moreover, the study provides the reader a detailed understanding of different growing methods (i.e., aquaponics, hydroponics, aeroponics, hybrid, and soil-based). Also, this section gives an understanding of the facilities used in indoor farming, such as vertical farms, greenhouses, and container farms, and their application with benefits.

Additionally, comprehensive coverage of different equipment required for a successful indoor farm set-up (i.e., lighting systems, climate control systems, irrigation systems, sensors, and monitoring systems) for various applications has also been added in the study.

Key Questions Answered in the Report

  • What is the estimated global indoor farming technology market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
  • What are the key trends, market drivers, and opportunities in the market pertaining to indoor farming technology?
  • What are the major restraints inhibiting the growth of the global indoor farming technology market?
  • What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
  • What is the competitive strength of the key players in the indoor farming technology market based on an analysis of their recent developments, product offerings, and regional presence?
  • How is the competitive benchmarking of the key indoor farming technology companies in the agriculture market based on the analysis of their market coverage and market potential?
  • How much revenue is each segment expected to record during the forecast period, along with the growth percentage?
  • Which type of players and stakeholders are operating in the market ecosystem of indoor farming technology, and what is their significance in the global market?
  • How does the regulatory landscape differ in different regions for indoor farming technology?

Market Report Coverage – Indoor Farming Technology

Market Segmentation

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  • Growing Method: Hydroponics, Aeroponics, Aquaponics, Soil-Based, Hybrid
  • Facility: Greenhouses, Indoor Vertical Farms, Container Farms
  • Technology: Hardware System, Software and Services, Integrated System

Regional Segmentation

  • North America: U.S., Canada, and Mexico
  • Europe: France, Netherlands, Italy, Spain, Russia, and Rest-of-Europe
  • U.K.
  • China
  • Asia-Pacific: India, Japan, Singapore, Australia and New Zealand, and Rest-of-Asia-Pacific
  • Rest-of-the-World: Brazil, South Africa, U.A.E., Saudi Arabia

Market Growth Drivers

  • Increasing Demand for Global Food Security Owing to Population Growth and Urbanization
  • Growth in Adoption of Technology in Farming
  • Land Degradation and Decrease in Arable Land
  • Increased Government Support and Initiatives

Market Challenges

  • High Initial Investment and Operational Costs
  • Suitable for Production of Selective Crops
  • Limited Awareness Among Farmers

Market Opportunities

  • Pharmaceutical Plant Production Through Indoor Farming
  • Integration of Different Emerging Technology
  • Scope of Expansion in Developing Countries

Companies Mentioned

  • AeroFarms
  • Artemis
  • American Hydroponics (AmHydro)
  • Argus Control System Limited
  • Autogrow
  • CannaPro
  • Certhon
  • Current Lighting Solutions, LLC
  • Everlight Electronics Co., Ltd
  • Freight Farms, Inc.
  • GE Lighting
  • General Hydroponics Inc.
  • Illumitex
  • Logiqs B.V.
  • Lumigrow
  • Lumileds
  • Netafim
  • OSRM GmbH
  • Priva Holdings B.V.
  • Richel Group
  • Smart Cannabis Corp.
  • Signify N.V.
  • Tevatronic Ltd.
  • Vertical Farm System Pty Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/vy2p00


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

ZTE highlights building solid foundations with full-stack intelligent computing solution at MWC Shanghai 2024

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SHANGHAI, June 26, 2024 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, will present innovative solutions and success cases in connectivity, computing power, industrial digitalization, and terminal devices at MWC Shanghai 2024, committed to building solid foundations with its full-stack and full-scenario intelligent computing solution.

In addition to exhibitions, ZTE will participate in various forums, sharing insights on trending topics, including AI, 5G, digitalization, etc. Meanwhile, the company will be hosting a series of launch events, showcasing its AI-powered eyewear-free 3D products and the Nebula Telecom Large Model.
Adhering to its “connectivity + computing” strategy, ZTE aims to create a dynamic ecosystem with industry partners, emphasizing openness and decoupling. Through continuous innovation, ZTE seeks to unfold an intelligent future.
Computing Power: Full-Stack Intelligent Computing as Efficient Foundation
ZTE provides a full-stack and full-scenario intelligent computing solution involving computing power, networks, capabilities, intelligence, and applications. With a full series of servers, high-performance storage products, lossless networks, and green data centers, ZTE has created a robust engine for diverse intelligent computing centers.
Connectivity: A New Era of 10Gbps Experience
Together with industry partners, ZTE continues to explore innovations in 5G-A technologies across different scenarios and industries, and empowers diversified new B2B and B2C services based on 10Gbps+ experience. Meanwhile, ZTE is also leading in global OTN technologies, and actively driving the evolution of all-optical connectivity, building 10Gbps networks for cities, and empowering smart life based on intelligent computing.
Industry: Phygital Convergence for Innovative Development
ZTE proposes the solution of “intelligent computing infrastructure + Digital Nebula,” facilitating phygital innovation and boost productivity in the intelligent era. ZTE has developed hundreds of exemplary projects in key sectors and ZTE Digital Nebula 3.0 has become the “super brain” of industrial digitalization, enabling customers and industry partners to foster a sustainable and intelligent ecosystem.
ZTE Mobile Devices: AI Full-Scenario Intelligent Ecosystem 3.0
With “AI for All” product strategy, ZTE has launched a full range of AI devices, including smartphones, tablets, laptops, PCs, and mobile internet products, dedicated to building AI Full-Scenario Intelligent Ecosystem 3.0. Emerging as a pioneer in cloud PCs, ZTE possesses a global user base of over 3 million.
For more information about ZTE’s highlights at MWC Shanghai 2024, please visit: https://www.zte.com.cn/global/about/news/zte-highlights-building-solid-foundations-with-full-stack-intelligent-computing-solution-at-mwc-shanghai-2024.html
MEDIA INQUIRIES:
Email: [email protected]

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Comviva named a Visionary in the 2024 Gartner® Magic Quadrant™ for AI in CSP Customer and Business Operations Report

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NEW DELHI, June 26, 2024 /PRNewswire/ — Comviva, the global leader in customer experience and data monetization solutions, today announced that it has been named a Visionary in the 2024 Gartner Magic Quadrant for AI in CSPs Customer and Business Operations report.

Gartner defines the market of AI in communications service provider (CSP) customer and business operations as commercial off-the-shelf (COTS) products. They are either capabilities embedded in CSP-specific operational technology (OT) applications (such as channels, CRM and other business support system [BSS] applications) or industry-agnostic horizontal applications delivering AI/machine learning (ML)-based customer and business operations to CSPs. CSP customer and business operations refer to marketing, sales, customer acquisition, customer journey, billing and revenue management, revenue assurance, and related risk management. The scope of AI products covers data readiness, life cycle management of algorithms and their application to CSP customer and business operations.
Comviva’s vision is to revolutionize the telecommunications industry by harnessing the transformative power of AI and Generative AI. With AI use cases across its MobiLytix™ and BlueMarble solutions, Comviva is enabling businesses to create, manage, and deliver real-time personalization, contextualized customer experiences, and intelligence-driven commerce at scale. Comviva has been noted for its strength in content creation, natural language generation, decision intelligence and machine learning.
“To thrive in today’s digital economy, businesses must accelerate the adoption of AI and related digital technologies. Comviva’s greatest strength has been our intelligent platforms that deliver personalized experiences and engagement across the customer journey,” said Rajesh Chandiramani, CEO at Comviva. “We are excited by this recognition as we believe that this affirms our strategic direction and leadership in revolutionizing telecommunications with AI. Comviva’s strong position in the quadrant validates our commitment and progress toward leveraging next-gen technologies in our solutions to deliver exceptional customer experiences.”
Comviva integrates state-of-the-art AI technologies across its comprehensive product portfolio, driving innovation, enhancing customer experiences, and optimizing business operations for Communications Service Providers (CSPs) around the world.
Source: Gartner Magic Quadrant for AI in CSP Customer and Business Operations, by Pulkit Pandey, Amresh Nandan, Peter Liu, 4 June 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Contact
Sundeep Mehta, +91()9910030732, [email protected] 
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Jacobi releases Model Portfolio Tech to help investment firms capitalise on booming opportunity

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The search for technology to support model portfolio management and portfolio construction services is increasing as companies look to centralise and scale their model portfolio management and compete in a rapidly growing market.
LONDON, June 26, 2024 /PRNewswire/ — The utilisation of model portfolios among financial advisers has emerged as a transformative force, with staggering growth in model portfolios projected to continue over the next decade. And with good reason, they offer an efficient method for diversification, risk management, and portfolio construction, with personalisation features to match the unique financial goals and risk tolerances of clients.

Financial advisers are also increasingly turning to asset managers for assistance in managing the model portfolios they build and maintain for clients. Jacobi’s model management technology enables asset managers to scale the portfolio construction services they offer financial professionals. The technology enables a platform that can centralise performance and risk analytics, integrate investment workflows, and produce professional reports to share with clients.
An early adopter of Jacobi’s model technology, leading asset manager T. Rowe Price has seen improved process efficiencies and enhanced engagement with clients.
Chris Augelli, Head of Advisor Engagement & Portfolio Construction Solutions at T. Rowe Price, says:
“Jacobi’s technology has enabled us to work faster and handle the increasing demand for our portfolio construction services. Having the team on one common platform through Jacobi has facilitated collaboration in real-time, which has supported our effectiveness in meeting clients’ needs.”
Tanya Bartolini, Chief Revenue Officer at Jacobi, says:
“Our technology helps us partner with asset managers such as T.Rowe Price to scale and connect workflows, driving enormous efficiencies – and ultimately increasing their market distribution.”
About Jacobi
Jacobi Inc. is a global investment technology provider that streamlines multi-asset investment processes and enables portfolio design, analysis, and client engagement. Its unique “open architecture” platform allows users to tailor the platform by integrating their own code, models, data, analytics, and applications.
Founded in 2014, Jacobi provides its technology to top-tier investors across the globe, including some of the world’s leading asset and wealth managers, pension funds, asset owners, and investment consultants. 
About T.Rowe Price 
Founded in 1937, T. Rowe Price helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investments. T. Rowe Price manages $1.54 trillion in client assets as of May 31, 2024, and it serves millions of clients globally.
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