Global indoor agriculture technology market to reach $ 53.2 billion by 2026
FACTS AT A GLANCE
Editing: 6; Posted: April 2021
Executive pool: 443
Companies: 42 – Actors covered include Agrilution GmbH; American hydroponics; Argus Control Systems Ltd .; Everlight Electronics Co., Ltd; General hydroponics; Hydrodynamics International, Inc .; Illumitex, Inc .; Logiqs BV; LumiGrow, Inc .; Netafim Ltd .; Philips lighting company; Richel SA Group; Vertical Farm Systems Pty Ltd. and others.
Blanket: All major geographies and key segments
Segments: Component (hardware, software and services); Type of crop (fruits and vegetables, herbs and microgreens, flowers and ornamental plants, other types of crops); Type of installation (glass or poly greenhouses, indoor vertical trusses, container trusses, indoor deep water culture (DWC) systems); Culture system (aeroponics, hydroponics, aquaponics, soil, hybrid)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global Indoor Agriculture Technology Market To Reach $ 53.2 billion by 2026
Amid COVID-19 Crisis, Global Indoor Agriculture Technology Market Is Estimated At US $ 32.4 billion in 2020, is expected to reach a revised size of US $ 53.2 billion by 2026, with a CAGR of 8.4% over the analysis period. Aeroponics, one of the segments analyzed in the report, is expected to register a CAGR of 8.4% and reach US $ 2.9 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the hydroponics segment is readjusted to a revised CAGR of 8.8% for the next 7 year period.
The US market is estimated at $ 9.5 billion in 2021, when China is expected to reach $ 11.8 billion by 2026
The U.S. indoor agriculture technology market is estimated to be US $ 9.5 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 11.8 billion by 2026, with a CAGR of 12.7% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 4.5% and 7.5% respectively over the period of analysis. In Europe, Germany is expected to grow at around 5.5% CAGR.
Aquaponics segment to be reached US $ 8.1 billion by 2026
In the global aquaponics segment, United States, Canada, Japan, China and Europe will drive the estimated 7.2% CAGR for this segment. These regional markets representing a combined market size of 3.9 billion US dollars in 2020 will reach a projected size of 6.3 billion US dollars before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Following
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