San Francisco, 6 June 2024: The Report Vertical Farming Market Size, Share & Trends Analysis Report By Structure, By Component (Hardware, Software, Services), By Growing Mechanism (Aeroponics, Hydroponics), By Crop Category, And Segment Forecasts, 2024 - 2030
The vertical farming market is witnessing significant advancements, marked by the adoption of innovative technologies, including sensors and cameras, to increase yields and enhance resource efficiency. Vertical farming efficiently addresses the challenges of limited space and environmental constraints. It offers a reliable solution by ensuring stable crop production, even during unfavorable weather conditions. Compared to traditional farming methods, vertical farming provides numerous advantages, including reduced water usage, decreased reliance on agrochemicals, and decreased dependency on agricultural labor. As a result, vertical farming is emerging as a promising alternative to meet the growing needs of urban populations.
The ABCs of Vertical Farming: Key Components
Hardware: Vertical farming relies on various hardware components and systems to create the ideal environment for plants to grow optimally. The hardware components include:
Lighting: Lighting in vertical farming refers to using specialized hardware, such as LED grow lights, to provide artificial light for plant growth. These lights emit specific intensities of wavelengths that are suitable for photosynthesis, enabling crops to sustain in indoor environments.
Hydroponic components: Hydroponic components include aggregate and liquid system hydroponic mechanisms, such as tubes, pipes, reservoirs, water pumps, and growing trays, among others.
Climate control: Climate control involves using dedicated hardware systems to manage and maintain optimal environmental conditions for plant growth. This includes controlling temperature, humidity, lighting, CO2 levels, and airflow within the vertical farming facility, ensuring consistent and optimized crop conditions throughout their growth cycle.
Sensors: Various sensors, such as soil sensors, water sensors, and climate sensors, collect data to evaluate soil and crop health. The data collected by these sensors help farmers in ensuring that the soil has the appropriate additives in appropriate quantities for optimum plant health. This helps avoid potential resource wastage and mitigate the environmental impact of vertical farms.
Software: Vertical farming software covers computer programs, applications, and systems used for managing, controlling, and optimizing various aspects of vertical farming operations.
Services: Services comprise a range of professional offerings and support provided by individuals or companies to assist vertical farmers and vertical farming companies in various aspects of their operations. These services help in enhancing the efficiency of vertical farming operations and in boosting the profitability of vertical farming ventures. The key services include:
System integration & consulting: This covers consulting and advisory services for designing unique vertical farming approaches.
Managed services: Managed services include data services, analytics services, and farm operation services, among others.
Assisted professional services: These services include supply chain management services and climate information services.
AI & automation: Automated systems and robots are taking over repetitive tasks, including harvesting, planting, and monitoring plant health. This helps in increasing efficiency and reducing labor costs. Advanced data analytics and sensors enable real-time monitoring of humidity, temperature, and nutrient levels, thereby ensuring optimal plant health.
Integration with Renewables: Vertical farms strive to power their operations with renewable sources of energy, including solar and wind power. The integration with such renewable sources will help reduce the carbon footprint of the farms and align them with a greener food system.
Resource use Optimization: Advancements in aeroponics and hydroponics help minimize water consumption to a significant extent, compared to traditional methods. In addition, closed-loop systems are being formulated to capture and reuse water and essential nutrients.
Beyond Greens: While leafy greens are the most common vertically grown crops, research is underway to cultivate herbs, fruits, and a few flowering plants using a vertical farming approach.
Key Companies & Market Share Insights
Some of the key players operating in the market include Agrilution GmbH; Aerofarm; Brightfarms Inc.; Everlight Electronics Co., Ltd; Freight Farms; GrowUp Urban Farms Ltd.; Green Sense Farms, LLC; Vertical Farm Systems.
Vertical Farm Systems is engaged in the development of fully automated growing systems with reusable medium and energy efficient climate cells. The company utilizes artificial intelligence (AI) and automation for optimized growing conditions.
Brightfarms Inc., is an indoor farming company that provides fresh packaged salad. The company sells their product locally that are grown in controlled environment. The company is inclined towards development of efficient vertical farming system with a focus on resource efficiency and sustainable practices.
Bowery Farming and Aerofarm are some of the emerging market participants in the target market.
Bowery Farming is engaged in providing solutions related to vertical farming and digital agriculture. Bowery Farming is a New York based company having farms in New Jersey, Maryland, and Pennsylvania.
Aerofarm, is a U.S.- based indoor vertical farming solution provider. The company uses artificial intelligence and plant biology to fix broken food system and improve the fresh produce growth
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
