The vertical farming market is expected to reach USD 3.88 billion by 2020, at a CAGR of 30.7% between 2015 and 2020. The major driving factors for the vertical farming market are need for high quality of food with no use of pesticides, no crop failures related to weather, increasing urban population, and growth in the year round production of crops.
“Lighting & hydroponic components dominates the functional devices segment of vertical farming market during the forecast period between 2015 and 2020”
The lighting component is expected to dominate the functional device segment of vertical farming market as traditional lighting systems are being replaced by energy-efficient LEDs designed to accelerate plant growth by emitting electromagnetic spectrum ideal for photosynthesis. Hydroponics held the second-largest market size and has many advantages such as no need of soil, low cost of water because of recycling, lower nutrition costs owing to low wastage, which ensures stable and high yields.
Complete report on vertical farming market spread across 173 pages, profiling 11 companies and supported with 91 tables and 56 figures is now available at http://www.rnrmarketresearch.com/vertical-farming-market-by-functional-device-lighting-hydroponic-component-climate-control-and-sensors-growth-mechanism-aeroponics-hydroponics-and-others-and-by-geography-global-forecast-to-2020-market-report.html .
The factors such as continuous growth in urban population, low availability of cultivable land, demand for high quality food, and government incentives in countries such as China, Singapore, and Japan are driving the vertical farming market in the APAC region.
“The APAC held the largest market share during the forecast period between 2015 and 2020”
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is given below as:
By Company Type: Tier 1 – 20 %, Tier 2 – 35% and Tier 3 – 45%
By Designation: C level – 80%, Director level – 20%
By Region: North America – 50%, Europe – 30%, APAC – 10%, RoW – 10%
The geographic segmentation covers four major regions of the world, namely, the North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The report also profiles major players in the Situational Awareness market. The major players in this market include Aerofarms (U.S.), Farmed Here (U.S.), Koninklijke Philips N.V. (Netherlands), Illumitex, Inc. (U.S.), and Sky Greens (Singapore). A discount can be asked before order a copy of Vertical Farming Market by Functional Device (Lighting, Hydroponic Component, Climate Control, and Sensors), Growth Mechanism (Aeroponics, Hydroponics, and Others) and by Geography – Global Forecast to 2020 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=454924 .
This report caters to the needs of leading companies, end users, and other related stakeholders in this market. Other parties that could benefit from the report include government bodies, environmental agencies, consulting firms, business development executives, C-level employees, and VPs. Our report would help you analyze new opportunities and potential revenue sources and enhance your decision -making process for new business strategies. The quantitative and qualitative information in the report along with our comprehensive analysis would help you gain an edge in the market.
On a related note, another research titled Precision Farming Market Global Forecast to 2020 says, the precision farming market is valued at USD 2.76 Billion in 2015 and is expected to grow at a CAGR of 11.7% during the forecast period. The base year used for this study is 2014 and the forecast period is 2015 to 2020. This report provides a detailed analysis of the precision farming market, based on technologies, hardware devices and software & services, applications, and regions. Ag Junction, Deere & Company, Raven Industries Inc., Trimble Navigation Ltd., AGCO Corporation, Precision Planting Inc., SST Development Group, Inc., AG Leader Technology, TeeJet Technologies and Topcon Precision Agriculture have been profiled in this 93 pages research available at http://www.rnrmarketresearch.com/precision-farming-software-services-market-by-software-web-cloud-based-services-consulting-maintenance-support-others-hardware-sensors-guidance-steering-gps-devices-others-ap-market-report.html .
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