Indoor Farming Technology Market to Register Impressive Growth by 2026
Posted by BIS RSRCH on January 11th, 2022
The global indoor farming technology market has seen major development by key players operating in the market, such as mergers and acquisitions, business expansion activities, partnerships, collaborations, and joint ventures. The favored strategy for the companies has been mergers and acquisitions to strengthen their position in the global indoor farming technology market. For instance, in March 2021, Netafim acquired a Dutch greenhouse company called Gakon to meet the increasing demand for local all-climate food production.
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Other strategies adopted by the key market players are a partnership, collaboration, and joint venture. The companies have put in considerable efforts to develop new strategies for increasing the availability of products needed for indoor farming. For instance, in July 2020, Netafim entered a partnership with Sentek Technologies to distribute Sentek’s line of industry-leading soil moisture sensors. In August 2021, AeroFarms and Nokia Bell Labs entered a partnership for next-generation AI-enabled plant vision technology. This is to combine their expertise to expand their joint capabilities, mainly in cutting-edge networking, autonomous systems, and integrated machine vision and machine learning technologies to identify and track plant interactions up to an advanced level.
The agriculture sector has been witnessing several technological advancements that have further led to the development of various types of sustainable agriculture techniques. The rising global population, as well as high-income growth, have also resulted in growing concerns for food security throughout the world. Various agricultural startups and technology providers are developing numerous sustainable farming systems. Advancement of technology in the case of the farming system like the adoption of indoor vertical farms, greenhouses along with the utilization of GPS, AI, IoT leads to the prevention of hazards and unwanted crop loss in the farms. These technologies help farmers in better crop planning, management, and harvest. It further helps in crops yield and in case of enhancing the quality of crops.
In addition to this, indoor farming is a crop production system that involves the integration of numerous technologies, including big data analytics, robotics, the internet of things, and artificial intelligence. Such technologies can help the crops to grow well under the controlled environment. Indoor farming depends on some technologies to observe the crops constantly to maintain temperature, moisture, humidity, lights, and air circulation in the farm. Advanced technologies utilized in indoor farming also help in crop production, harvesting schedules, and quality control. It further helps farms to adapt and avoid new or unexpected hazards in their paths.
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The global indoor farming technology market research study offers a broad perspective on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
Indoor farming is an important part of modern agriculture for producing crops in a controlled environment. There is an increasing growth for indoor farming globally propelled by the rising world population along with a consequent demand for consistent food supplies. Conventional agriculture is suitable for areas with sufficient land and water supply. Since the percentage of arable land and water supply to support conventional agriculture is diminishing, the demand for indoor farming is heightening. Indoor farms can help to grow the total crop yield per unit area by utilizing the stacked layers of potted seeds, and this is further expected to drive the market.
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About the AuthorBIS RSRCH
Joined: March 5th, 2020
Articles Posted: 78
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