Global Vertical Farming Market

Apr 2020| VMR2433A| Verified Market Research

Report Highlights

Vertical Farming Market Size And Forecast
Vertical Farming Market was valued at USD 2.51 Billion in 2018 and is projected to reach USD 13.04 Billion by 2026, growing at a CAGR of 22.75% from 2019 to 2026.

Global Vertical Farming Market Overview
With the increasing advancements in technology, factors such as automation and the implementation of artificial intelligence in various industry vectors are leading to an increased rate of urbanization. The concept of vertical farming has been developed on the basis of its potential to provide large populations concentrated in urban areas with locally grown food – and to meet the demands of an ever-growing worldwide population. Due to the challenges and costs of transporting fresh crops to larger cities, urban farmers have realized the potential in utilizing existing square meters in tall city buildings and producing crops locally.

The major players in the market are

  • Koninklijke Philips N.V.,
  • AeroFarms LLC
  • Sky Greens PTE. LTD.
  • Illumitex Inc.
  • Everlight Electronics Co.Ltd.
  • American Hydroponic Systems Inc.
  • Vertical Farm Systems
  • Hort Americas, LLC

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