(MENAFN- GetNews) According to report published by Grand View Research,The increased use of Internet of Things (IoT) sensors, for producing crops, is likely to spur the vertical farming market demand over the forecast period. The growing automation in agriculture and increasing use of big data & predictive analytics, for maximizing yields, are also likely to drive the market. According to a report,"Vertical Farming Market Analysis By Structure (Shipping Container, Building-Based), By Offering (Lighting, Hydroponic Components, Climate Control), By Growing Mechanism (Aeroponics, Hydroponics), & Segment Forecasts, 2018 - 2025published by Grand View Research, Inc., global vertical farming market is anticipated to reach USD 9.9 billion by 2025, The increased use of Internet of Things (IoT) sensors, for producing crops, is likely to spur the market demand over the forecast period. The information obtained from the sensors is stored on the cloud and analyzed to perform the required actions. The growing automation in agriculture and increasing use of big data & predictive analytics, for maximizing yields, are also likely to drive the market.
Key Takeaways from the report:
The escalating production of biopharmaceutical products is anticipated to drive the market
The building-based segment is expected to portray high growth rate with a CAGR of 24.8% over the projected period
The climate control segment is expected to witness high growth rate over the forecast period, as the growth of crops can be controlled by monitoring and adjusting the concentrations of minerals
The aeroponics segment is also expected to have considerable growth over the forecast period, as the aeroponics facilitates fast growth in plants (under normal conditions)
The North American regional market is expected to have significant growth over the forecast period, owing to the expansion of small-scale, commercial vertical farms
The key players of the market include BrightFarms (U.S.), Everlight Electronics Co., Ltd. (Taiwan), and Green Sense Farms, LLC (U.S.)
Canada vertical farming market, by offering, 2014 - 2025 (USD Million)
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Distributed Antenna Systems (DAS) Market :Key factors driving the demand for Distributed Antenna Systems (DAS) include proliferation of connected devices in Internet of Things (IoT), mobile data traffic, and demand for extended network coverage and constant connectivity. Additionally, an increase in higher-bandwidth applications and in-building demand is also supporting the market growth. Global Vertical farming market, by structure, 2015 (%)
Genetically modified organisms and environmental & health effects of pesticides & other non-natural substances that are used for increasing agricultural production have encouraged the consumers to adopt organic foods. According to the Organic Trade Association, the U.S. organic industry sales increased by 11% in 2015, owing to the increased investment in infrastructure and education. As per the Organic Foods Production Act of 1990 the handlers and growers of organic products need to comply with the regulations
Artificial lighting helps in extending the hours of the natural daylight which further increases the health, growth rate and yield of the plants. Artificial lighting, such as high-pressure sodium lighting, LED lighting can extend the availability of crops (throughout a season). LED lighting systems produce dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.
Hydroponic system is a method of growing plants without soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps in producing nutritionally-rich vegetables. However, factors, such as high initial investment and fewer crop varieties, are likely to restrain the market growth.
Grand View Research has segmented the vertical farming market based on structure, offering, growing mechanism, and regions:
Vertical Farming Structure Outlook (Revenue, USD Million; 2014 - 2025)
Shipping container
Building-based
Vertical Farming Offering Outlook (Revenue, USD Million; 2014 - 2025)
Lighting
Hydroponic components
Climate control
Sensors
Vertical Farming Growing Mechanism Outlook (Revenue, USD Million; 2014 - 2025)
Hydroponics
Aeroponics
Aquaponics
Vertical Farming Regional Outlook (Revenue, USD Million; 2014 - 2025)
North America
Europe
Asia Pacific
South America
Middle East and Africa (MEA) Explore the BI enabled intuitive market research database, Navigate with Grand View Compass , by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
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