The global vertical farming market was valued at $1.47 billion in 2016, and is projected to reach $8.03 billion by 2024, having a CAGR of 20.7% during the forecast period of 2017 to 2024.
The global vertical farming market is segmented on the basis of component, building material, growth mechanism and geography. On the basis of component, the market is segmented as irrigation component, lighting, sensor, climate control, building material and others. By building material the market is segmented into glass greenhouse and plastic greenhouse. On the basis of growth mechanism the market is categorized as hydroponics, aeroponics and aquaponics. Geographically, the market is segmented into North America, Europe, AsiaPacific and Rest of World. Lighting segment is supposed to generate the highest revenue holding nearly 27% of the overall market share.
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GLOBAL VERTICAL FARMING MARKET SEGMENTATION
• Irrigation Component
• Climate Control
• Building Material
By Building Material
• Glass greenhouse
• Plastic greenhouse
By growth Mechanism
• North America
• Rest of World
KEY MARKET PLAYERS
• American Hydroponics
• Everlight Electronics
• Green Sense Farms
• Hort Americas
• Koninklijke Philips N.V
• Sky greens.
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