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Global Vertical Farming Market Size

Global Vertical Farming Market size was valued at USD 5.70 billion in 2021 and is poised to grow from USD 6.88 billion in 2022 to USD 24.95 billion by 2030, growing at a CAGR of 20.2% during the forecast period (2023-2030).

Swetachakraborty
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Global Vertical Farming Market Size

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  1. Global Vertical Farming Market Size, Share, Growth Analysis, By Technology By End-User- Industry Forecast 2023-2030 Global Vertical Farming Market size was valued at USD 5.70 billion in 2021 and is poised to grow from USD 6.88 billion in 2022 to USD 24.95 billion by 2030, growing at a CAGR of 20.2% during the forecast period (2023-2030). The growing use of IoT sensors for crop production is expected to drive market demand. The data gathered from these sensors is stored and analyzed on the cloud to optimize farm management. Automation in agriculture, coupled with big data and predictive analytics, will further boost the market. Vertical farming is an effective technique for ensuring stability in crop production, especially under unfavorable climatic conditions. It offers several advantages over traditional farming methods, such as less water usage, reduced need for agrochemicals, and lower dependence on agricultural labor. Vertical farming utilizes metal reflectors and artificial lighting to maximize natural sunlight. Consumers' growing concerns about genetically modified organisms and the

  2. environmental and health effects of pesticides have led to an increased demand for organic foods. Organic product handlers and growers must comply with regulations under the Organic Foods Production Act of 1990. Artificial lighting can extend the hours of natural daylight, leading to healthier plants and increased yields. High-pressure sodium and LED lighting are popular choices, with LED lighting systems expected to grow significantly in the future. Hydroponic systems eliminate the need for pesticides and artificial ripening agents, resulting in nutritious vegetables. However, high initial investment and limited crop variety remain potential market restraints.

  3. Global Vertical Farming Market Segmental Analysis The Global Vertical Farming market is segmented by technology, end-user, and region. Based on technology, the market can be segmented into aeroponics and hydroponics. Based on end-user, the market is segmented into commercial and residential. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. View-More https://www.skyquestt.com/report/vertical-farming- market Vertical Farming Market Top Player’s Company Profiles •AeroFarms (US) •BrightFarms (US) •Everlight Electronics (Taiwan) •Green Sense Farms (US)

  4. •Growtainer (US) •Illumitex (US) •Sky Greens (Singapore) •Koninklijke Philips N.V. (Netherlands) •Plenty (US) •Signify Holding B.V. (Netherlands) •Urban Crops Solutions (Belgium) •Vertical Farm Systems (Australia) •Alesca Life Technologies (Hong Kong) •American Hydroponics (US) •FarmOne (US) •Freight Farms (US) •General Hydroponics (US) •Heliospectra AB (Sweden) •Local Roots Farms (US) •Modular Farms Co. (Canada) About Us: SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

  5. Address: 1 Apache Way, Westford, Massachusetts 01886 Phone: USA (+1) 617-230-0741 Email: sales@skyquestt.com LinkedIn Facebook Twitter

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