The reduction in the prices of the light-emitting diode (LED) and the technological advancement in the LEDs help in the growth of the vertical farming system. The scarcity of space in the densely populated countries has resulted in the increasing adoption of the vertical farming method. The advantages of growing crops close to urban areas and the reduction in transportation costs are expected to fuel the vertical farming market's growth over the forecast period.
The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Vertical Farming market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Vertical Farming market landscape.
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Key Highlights From The Report
- The lighting segment accounted for the largest market share of the vertical farming market in 2019 as the lighting devices help in the faster growth of the plant. The LED lighting technology is increasingly being used by the horticulture farmers due to the enhanced efficiency and long lifespan of the technologically advanced LEDs.
- The hydroponics segment is forecasted to grow with the fastest CAGR of 20.2% over the forecast period due to the ease of operation and low installation cost.
- The Asia Pacific region held the largest market share of the vertical farming market in 2019 due to the growing demand for food owing to the rising global population. The scarcity of arable lands in the densely populated countries is also a driving factor for the region's growth.
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The global Vertical Farming market consists of various segments, including product type outlook, application spectrum, end-user overview, leading regions, and the competitive analysis. The report further provides information regarding the value chain, emerging market sectors, and the technological advancements in the industry to benefit readers and businesses looking to invest in this industry.
Key Market Competitors Profiled in the Report:
- Company 1
- Company 2
- Company 3
- Company 4
- Company 5
- Company 6
- Company 7
- Company 8
- Company 9
- Others
Major Geographies Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation by Product Type:
Type 1, Type 2, Type 3, Type 4, and others.
Market Segmentation by Application:
Application 1, Application 2, Application 3, Application 4, Application 5, and others.
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The report addresses the following key points:
- The report estimates the expected market size from 2019-2027
- The report provides a forecast of market drivers, restraints, and future opportunities for the Vertical Farming market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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