Vertical Farming market size is projected to reach USD 9.9 billion by 2026 at a CAGR of 25.2% from USD 3.8 billion in 2021 during the forecast to 2028.
The vertical farming market is primarily dominated by the building-based vertical farms’ phase as leading corporations within the market are concerned during this form of farming. Building-based vertical farms generate higher per sq. ft. revenue than shipping container-based vertical farms, because the former uses lesser capital and incurs lower in operation expenses (for identical area).
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Advancements in crystal rectifier (LED) technology and high yield related to vertical farming over standard farming are a number of the factors that have supported semi-permanent growth for Vertical Farming market.
Regional Analysis
In Asia Pacific, the companies involved in vertical farming are investing and expanding their operations in other countries.
Recent Developments
· Renishaw launched a new free software suite for Renishaw calibration systems at EMO 2015. The suite includes Capture and Explore, which provides data capture and analysis for the XL-80 Vertical Farming system.
· Carl Zeiss launched various industrial metrology products at IMTEX 2017. The product line comprises of Zeiss Stemi 508.
Key Players
· Signify
· Osram
· Freight Farms
· AeroFarms
· sky Greens
· Spread
· Plenty
· Valoya
· Everlight Electronics
· Heliospectra AB and More
Vertical Farming Market is segmented into growth mechanism, structure, and geography.
On the basis of Growth Mechanism
· Hydroponics
· Aeroponics
· Aquaponics
On the basis of Structure
· Building-based vertical farm
· Shipping container-based vertical farm
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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