Vertical Farming Market Worth 3.88 Billion USD by 2020
PUNE, India, January 13, 2016 /PRNewswire/ --
According to the new market research report "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", published by MarketsandMarkets, the market is estimated to reach USD 3.88 Billion by 2020, at a CAGR of 30.7% between 2015 and 2020.
Browse 91 market Tables and 56 Figures spread through 173 Pages and in-depth TOC on "Vertical Farming Market"
http://www.marketsandmarkets.com/Market-Reports/vertical-farming-market-221795343.html
Early buyers will receive 10% customization On this report.
The factors which are driving the vertical farming market include need for high quality food with no use of pesticides, less dependency on the weather, increasing urban population, and need for year round production.
Lighting functional device expected to lead the vertical farming market
Lighting as a functional device, in terms of value, is expected to hold the largest share of the vertical farming market by 2020. The traditional lighting system is being replaced by LED lighting system which is more efficient, emits electromagnetic spectrum ideal for photosynthesis and generates low heat. The increased acceptance of LED lighting system by end users is driving the growth of this market.
Hydroponics as a growth mechanism segment dominates the vertical farming market
The market for hydroponics as a growth mechanism is expected to be the largest between 2015 and 2020. This is mainly because of the benefits associated with it such as quicker growth, faster harvest, higher yield, and low nutrient wastage as mineral nutrients are dissolved in water and are fed directly to a plant's root system without any involvement of soil.
APAC expected to hold the largest market share and grow during the forecast period
The APAC vertical farming market is expected to hold the largest share by 2020 owing to major driving forces such as growth in urban population, less availability of cultivable land, government initiatives, and demand for food with low impact on environment, the vertical farming market is growing in this region.
Major players involved in the development of vertical farming market Aerofarms (U.S.), FarmedHere (U.S.) Koninklijke Philips N.V (The Netherlands), Illumitex Inc. (U.S.), Sky Greens (Singapore), and others.
Ask For PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=221795343
This research report categorizes the global vertical farming market based on functional devices, growth mechanism, and regions. This report describes the drivers, restraints, opportunities, and challenges with respect to the vertical farming market. The Porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on the vertical farming market.
Browse Related Reports
Smart Greenhouse Market by Technology (HVAC, LED Grow Light, Communication Technology, Irrigation System, Material Handling, Valves & Pumps, Control System, and Others), Type (Hydroponic, Non-hydroponic), and Geography - Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/smart-greenhouse-market-63166169.html
Precision Farming Market by Technology (GPS/GNSS, GIS, Remote Sensing & VRT), Components (Automation & Control, Sensors, FMS), Application (Yield Monitoring, VRA, Mapping, Soil Monitoring, Scouting) and Geography - Global Forecasts to 2020
http://www.marketsandmarkets.com/Market-Reports/precision-farming-market-1243.html
About MarketsandMarkets
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: + 1-888-600-6441
Email: [email protected]
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
SOURCE MarketsandMarkets
Share this article