Vertical Farming Market

Vertical Farming Market by Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Structure (Building-based vertical farm and Shipping container-based vertical farm), Crop Type, Offering, & Region - Global Forecast to 2026

Report Code: SE 3992 Nov, 2021, by marketsandmarkets.com

The vertical farming market was valued at USD 2.9 billion in 2020, and it is expected to register a CAGR of 25.0% from 2021 to 2026 to reach USD 9.7 billion.

Vertical farming is a technique of cultivating crops on a vertically inclined surface in an urban environment—instead of growing a single layer of crops over a large land area, stacks of crops are grown in an upward direction. In vertical farming, an artificial environment is created inside a facility using technologies that help plants grow with high nutrition in a short time compared with traditional farming. Growth, productivity, and quality of plants depend on technologies, such as climate control, air purification, lighting, and pump and irrigation systems.

Vertical farming is being adopted to increase the crop yield without increasing the land area, as it does not use soil as a medium. Plants are cultivated using growth mechanisms, such as hydroponics, aeroponics, and aquaponics. Hydroponics is a widely used growth mechanism in which the roots of the plants are provided with nutrient-dissolved solutions through water channels equipped with the pump and irrigation systems, according to the grower’s needs.

Advancement in LED technology, the ability to facilitate year-round crop production irrespective of weather conditions, and minimum requirement of resources such as land, water, and labor to carry out farming are the major factors driving the growth of the vertical farming market. The growth opportunities for the market players include cannabis cultivation through vertical farming and potential market opportunities in Asia Pacific and the Middle East. However, lack of skilled workforce and technical know-how and limited crop range are the factors restraining the market growth.

Vertical Farming Market

Vertical Farming Market Forecast to 2026

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Vertical Farming Market Dynamics:

Driver: Year-round crop production irrespective of weather conditions

The benefit of vertical farming is that it does not dependent on the weather; it means vertical farming can produce crops year-round without worrying about the impact of adverse weather conditions on the quality and profiling of the yield. Farming in a protected, well-monitored, and managed environment assures high-quality produce and provides repeatable programmable production for the growers. Moreover, vertical farming successfully reduces harvest times and improves the volume without compromising on the quality or flavor of the produce, which remain 100% consistent. This helps the growers to confidently commit to the delivery schedules and offtake agreements demanded by their customers.

Furthermore, changes in rain patterns and temperature could diminish the agricultural output in several countries globally. With global weather patterns becoming more unpredictable and global warming being a major challenge, vertical farming is expected to emerge as an ideal option.

Restraint: High upfront costs to set up a vertical farming infrastructure

In vertical farming, the first challenge for any farmer or company starting indoor vertical farms is the high start-up cost. There are hefty capital expenditures required to set up a vertical farming infrastructure along with high operating costs. Therefore, vertical farming is more expensive than traditional farming. Controlling the environment within the buildings, such as lighting, temperature, pollination, and the arrangement of plants, are key factors for an ideal vertical farm.

The farmers have to bear a high initial investment for the devices and equipment used for vertical farming. The devices, sensors, and lighting systems are expensive and have to be bought additionally along with the actual farming equipment. Setting up of all the vertical farming systems includes integration of devices, which would be helpful in farm management, installation of monitoring and sensing devices, and integration of the entire system with farm management. Besides, importing these systems and components from other countries would further escalate the setup cost. This is one of the major factors restraining the growth of the vertical farming market.

Opportunity: Cannabis cultivation through vertical farming

As the demand for cannabis is increasing rapidly, the supply side has started to develop operations in different forms to meet the ends. There has been an enormous flowering in cannabis vertical farms and cannabis distributors that is helping to meet the demand. As per the current production scenario, growing cannabis on a vertical farm can be an expensive operation to carry out. Cannabis grown under sunless medium needs to have various factors considered. For instance, the heat emitted from high-pressure sodium lights (HPS) can damage the produce. Hence, LEDs, which run at much lower temperatures, can be a solution to the excessive heat emitted.

The vertical farming market is yet to see the involvement of cannabis cultivation at a larger scale, but with the rising demand for cannabis, technological support, and developing LED technology that would significantly reduce lighting cost, some potential growth opportunities are visible for the vertical farming market.

Challenge: Vertical farming on a large scale

Plants require light, space, CO2, and water for their growth, which are naturally available. However, in vertical farming, all these requirements need to be supplied externally at a specific cost, such as all the buildings must be lit to grow the plants with electric lights. But the cost of electricity is high enough that it is impossible between the electricity bill and construction bill to earn profit. Moreover, in vertical farms, energy consumed per plant is the same, no matter how large the facility is, for which a well-equipped system is required.

A management and maintenance team is also required to manage large-scale operations, which could affect the profitability of cultivators, making it a major challenge for them to run vertical farms on a large scale. Presently, small-scale farms are preferred with the available technology.

Vertical Farming Market Segment Insights:

Vertical Farming Market

Lighting systems and hydroponic components accounted for the largest share in hardware segment of the vertical farming market in 2020.

Lighting and hydroponic components are among major hardware systems required for vertical farming setup. Artificial light acts as a substitute for sunlight and provides sufficient light intensities that enable crop growth. The amount and duration of the light are the main aspects considered while providing lighting for plants. Lights either provide a light spectrum such as the sun or a spectrum that caters to the needs of the plants.

Outdoor lighting conditions can be created with varying colors, temperatures, and spectral outputs from the grow lights as well as by varying the intensity of outputs of the lamps. In recent times, LEDs and high-intensity discharge (HID) are the most preferred grow lights in vertical farming. Fluorescent (FL) bulbs are also used for indoor applications, as their fixtures are similar to those of HID bulbs but are less expensive.

Based on growth mechanism, hydroponics segment likely to dominate vertical farming market by 2026

Hydroponics segment is expected to keep its dominance during the forecast period mainly due to simple installation and cost-effective vertical farm setup. In the hydroponics system, mineral nutrients dissolved in water are fed directly to the plant’s roots due to which the plant grows mostly upward, thereby promoting quicker growth, faster harvest, and higher yield.

Hydroponics systems are used both indoors and outdoors for growing herbs, foliage, and food items throughout the year using an inert growth medium to anchor the plant’s roots. One of the major advantages of using this mechanism is less water requirement as the system reuses the water. Furthermore, the nutrition levels can be entirely controlled, resulting in lower nutrition costs and stable and high yields.

AeroFarms (US), Freight Farms (US), Agrilution (Germany), American Hydroponic (US), Bright Farms (US) are some of the key players using hydroponics growth mechanisms to grow lettuces, leafy greens, Asian greens, herbs, and microgreens. In August 2021, Cargill, an international producer and marketer of food, agricultural, financial, and industrial products and services based in Minnesota, US, partnered with the vertical farming leader AeroFarms (US), aiming to improve cocoa bean yields and develop more climate-resilient farming practices.

Building-based vertical farms to dominate overall vertical farming market during the forecast period

Countries with unsupported crop environment are early adopters of building-based vertical farms leading to a large-scale adoption of these type of farms. Region that has struggled to grow crops due to a large hostile desert landscape, this new farming method has improved the system of farming in the countries such UAE and GCC Countries. Furthermore, adopting such an approach provide greater access to safe, nutritious, and affordable food. Regarding key components of vertical farming, LEDs are being offered by the pioneers of the lighting market. For example, companies such as Signify (Netherlands) offer LED lighting solutions for building-based vertical farms.

The company is also focusing on expanding its existing product line through business expansion to ensure a wide customer reach and serve a large application segment. For instance, in May 2021, Signify expanded its collaboration with Ljusgarda, a Sweden-based pioneer of vertical farming, to expand their productivity with the help of high-tech solutions such as greenhouse LED production modules and GrowWise control system.

Regional Insights:

Vertical Farming Market by Region

Vertical Farming Market by Region

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US is expected to be the leading country-level market in North America as large number of market leaders are headquartered in the country

The US held the major share of the North American vertical farming market in 2020 and similar trend is expected to be continued by 2026. The US is expected to be the leading country-level market in North America as market leaders or key players of vertical farming are headquartered in the country. Increasing number of vertical farms and partnerships among companies are helping to boost vertical farming market in US. Furthermore, the country is a potential market for farming, owing to the continuous demand for agricultural products.

The growth of the vertical farming market in the country is significantly driven by the need for sustainable agricultural operations that reduce the adverse impacts on the environment. Also, contrary to the complicated supply chain involved in conventional agriculture that impacts the harvesting, processing, and transportation activities in the market, urban indoor vertical farming reduces farm to consumer transport, hence providing a solution to the inefficient supply chain. Producing fresh greens and vegetables close to urban areas could help meet growing food demands in an environmentally responsible and sustainable way by reducing the number of entities involved in distribution chains, providing higher-nutrient produce, and drastically reducing water usage and runoff.

Increasing installation of automated vertical farms in Europe to drive the market during the forecast period

The growth of the vertical farming market in Europe is expected to be majorly driven by the growing food demand, urbanization, unfavorable weather conditions for conventional farming, urge to minimize the import of fresh produce, and the need for new productive farming activities. Vertical farming could also play a critical role in contributing to urban food security, allowing year-round production and reducing food miles in Europe. The vertical farming market in Europe has been segmented into EU5, Scandinavia, the Netherlands, and Rest of Europe.

The majority of the top companies in the vertical farming ecosystem conduct global operations in Europe. Currently, there are two international industry associations for vertical farming: The Association for vertical farming (AVF) and The Farm Tech society (FTS) in Europe. The AVF is a no-profit organization recognized globally that enables international exchange and cooperation to accelerate the development of the indoor/ vertical farming industry. The Farm Tech Society (FTS) focuses on controlled environment agriculture, and vertical farming is one of its subgroups.

Key Market Players:

Some of the key players in the vertical farming market includes Signify (Netherlands), Freight Farms (US), AeroFarms (US), Sky Greens (Singapore), Spread (Japan), Plenty (US), Valoya (Finland), Osram  (Germany), Everlight Electronics (Taiwan), Heliospectra AB (Sweden).These players have adopted various growth strategies such as contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches to further expand their presence in the vertical farming market.

Signify offers a wide range of lighting products and systems for vertical farming technology for growing plants in indoor environments without sunlight. LEDs used to light multiple layers of crops assist in maximizing production and getting a higher yield. The company also holds lighting and plant expertise aiding vertical farmers to efficiently use Philips LEDs and growth techniques. Signify has strong and diversified product offerings and services, with an extensive focus on developing innovative products and solutions. It has adopted partnerships and collaborations with the leading operators of vertical farming across the world as its key strategies to improve crop productivity and offer innovative technology, which help in the growth of vertical farming. In 2020, the company invested about 0.2% more toward research & development (R&D) than the previous year, allowing Signify to gain a competitive edge in the market. Innovations and partnerships help Signify cater to the requirements of different customers worldwide and achieve a competitive advantage over its peers. It has adopted business growth strategies that involve both contracts and partnerships in different regions of the world to expand its reach.

Freight Farms is a prominent player in the vertical farming market; the company focuses on developing products that enhance its integrated container-based vertical farms. The flagship product of Freight Farms is Greenery. Currently, Freight Farms has 320 farms located in the US and about 32 countries worldwide, and it has a dedicated support team called client services. The client services team supports the customer from the day they purchase a farm and guide them through training, delivery, installation, and launch till the first harvest. Freight Farms inspires individuals to start their own businesses, such as BrightBox Farms in Alaska, Saint Joseph’s College of Maine, and OD Greens in Ohio. Freight Farms continuously focuses on fund-raising, partnerships, and contracts between food-chain suppliers and investors to help the company grow fresh and pesticide-free vegetables. It focuses predominantly on facilitating vertical farming technology to local farmers, food retail chains, and grocery chains, among others. Recently, Freight Farms also signed a contract with ICA Maxi Hφgskolan (Sweden), a food and health-based retail company, having more than 1300 stores.

AeroFarms is the market leader among the companies involved in crop production through vertical farming. The company’s patented aeroponics growing system enables it to produce high-quality food in a soil-less medium using 95% less water than traditional farming and 40% less water than consumed with the help of hydroponics technique. AeroFarms emphasizes on partnerships with leading global brands to promote vertical farming and help organizations increase their productivity or yield using vertical farming. The company is demonstrating innovative strategies on how vertical farming is helping the environment with less carbon footprint. It is also focused on expanding its vertical farming business; for that, it is continuously introducing its vertical farming business to newer geographical areas. Recently, AeroFarms entered the Middle East, where the company is opening a 90,000 sq. ft. indoor vertical farm.

Vertical Farming Market Report Scope:

Report Metric

Details

 Market size value in 2020  USD 2.9 billion
 Market size value in 2026  USD 9.7 billion
 Growth Rate  CAGR of 25.0%

Market size available for years

 2021–2026

Base year

 2020

Forecast period

 2021–2026

Units

Value, USD

Segments covered

Application, Crop Type, Growth Mechanism and geography

Geographic regions covered

  • North America
  • APAC
  • Europe
  • RoW

Companies covered

Signify (Netherlands), Freight Farms (US), AeroFarms (US), Sky Greens (Singapore), Spread (Japan), Plenty (US), Valoya (Finland), Osram  (Germany), Everlight Electronics (Taiwan), Heliospectra AB (Sweden)

Vertical Farming Market Highlights:

Vertical Farming Market by Highlights

Recent Developments

  • In August 2021, AeroFarms partnered with Nokia Bell Labs to combine their expertise and expand their joint capabilities in networking, autonomous systems, and integrated machine vision and machine learning technologies to identify and track plant interactions at the most advanced levels.
  • In August 2021, AeroFarms announced that it would expand to the Middle West region as part of a project with the World Wildlife Fund (WWF) and St. Louis Controlled Environment Agriculture Coalition (STLCEA) to demonstrate innovative strategies to minimize the environmental footprint of indoor vertical farming.
  • In July 2021, Heliospectra AB, a world leader in intelligent lighting technology for vertical farming, announced a new seller partnership with MineARC Systems, a global leader in manufacturing and supplying controlled environments. The company will represent Heliospectra’s market-leading LED lighting and lighting control solutions in the Australian market.
  • In June 2021, Osram expanded its horticulture portfolio with the launch of Osconiq S 5050. It addresses a key problem of used white LEDs resulting in lower energy costs and more efficient lighting for indoor farmers.
  • In May 2021, Plenty announced an expansion to 17 new Safeway stores across Northern California, bringing the total number of stores carrying Plenty produce in the region to 53.
  • May 2021, Signify is helping the Sweden-based pioneer of vertical farming, Ljusgarda, expand its productivity with the help of its high-tech solutions, such as greenhouse LED production modules and GrowWise Control System.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 33)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 GEOGRAPHIC SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA
           FIGURE 1 VERTICAL FARMING MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
           FIGURE 2 MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primaries
                    2.1.2.2 Key data from primary sources
                    2.1.2.3 Key industry insights
           2.1.3 SECONDARY AND PRIMARY RESEARCH
    2.2 MARKET SIZE ESTIMATION
           FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM HARDWARE/SOFTWARE/ SERVICES OFFERED IN MARKET
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIDE): MARKET FOR VERTICAL FARMING BY DIFFERENT REGIONS
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for obtaining market size using bottom-up analysis
                               FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for obtaining market size using top-down analysis
                               FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 7 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
           FIGURE 8 RESEARCH ASSUMPTIONS
    2.5 RISK ASSESSMENT
           TABLE 1 RISK FACTOR ANALYSIS

3 EXECUTIVE SUMMARY (Page No. - 51)
    FIGURE 9 HYDROPONICS GROWTH MECHANISM SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
    FIGURE 10 BUILDING-BASED VERTICAL FARMS SEGMENT TO EXHIBIT HIGHER GROWTH DURING FORECAST PERIOD
    FIGURE 11 LETTUCE TO BE MOST COMMONLY GROWN CROP ACROSS DIFFERENT VERTICAL FARMS
    FIGURE 12 SERVICES TO REGISTER HIGHEST GROWTH AMONG OFFERINGS IN MARKET DURING FORECAST PERIOD
    FIGURE 13 ASIA PACIFIC TO DOMINATE  MARKET DURING FORECAST PERIOD
    3.1 COVID-19 IMPACT ON VERTICAL FARMING MARKET
           3.1.1 REALISTIC SCENARIO
           3.1.2 OPTIMISTIC SCENARIO
           3.1.3 PESSIMISTIC SCENARIO
                    FIGURE 14 COMPARISON OF SCENARIO-BASED IMPACT OF COVID-19 ON MARKET

4 PREMIUM INSIGHTS (Page No. - 57)
    4.1 ATTRACTIVE OPPORTUNITIES IN MARKET
           FIGURE 15 INCREASE IN INVESTMENTS AND PARTNERSHIPS BETWEEN FARMS AND TECHNOLOGY PROVIDERS BOOSTING GROWTH IN MARKET
    4.2 MARKET IN APAC, BY GROWTH MECHANISM AND STRUCTURE
           FIGURE 16 HYDROPONICS GROWTH MECHANISM AND BUILDING-BASED VERTICAL FARM SEGMENTS TO HOLD LARGEST MARKET SHARES IN ASIA PACIFIC IN 2026
    4.3 MARKET, BY HARDWARE
           FIGURE 17 LIGHTING SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
    4.4 COUNTRY-WISE MARKET GROWTH RATE
           FIGURE 18 CHINA TO RECORD HIGHEST CAGR IN MARKET DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 60)
    5.1 MARKET DYNAMICS
           FIGURE 19 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.1.1 DRIVERS
                    FIGURE 20 MARKET DRIVERS AND THEIR IMPACT
                    5.1.1.1 High yield associated with vertical farming over conventional farming
                    5.1.1.2 Advancements in light-emitting diode (LED) technology
                    5.1.1.3 Year-round crop production irrespective of weather conditions
                               FIGURE 21 DAMAGE AND LOSS TO CROPS, BY TYPE OF CALAMITY (2003–2016)
                    5.1.1.4 Requirement of minimum resources
                               FIGURE 22 WORLD POPULATION (2015–2050)
           5.1.2 RESTRAINTS
                    FIGURE 23 VERTICAL FARMING MARKET RESTRAINTS AND THEIR IMPACT
                    5.1.2.1 Lack of technically skilled workforce and limited crop types
                    5.1.2.2 High start-up costs
           5.1.3 OPPORTUNITIES
                    FIGURE 24 MARKET OPPORTUNITIES AND THEIR IMPACT
                    5.1.3.1 Reduced environmental impact from agriculture by adoption of vertical farming
                    5.1.3.2 Potential market opportunities in Asia Pacific and Middle East
                    5.1.3.3 Cannabis cultivation through vertical farming
           5.1.4 CHALLENGES
                    FIGURE 25 MARKET CHALLENGES AND THEIR IMPACT
                    5.1.4.1 Maintenance of temperature, humidity, and air circulation in a vertical farm
                    5.1.4.2 Vertical farming on a large scale

6 INDUSTRY TRENDS (Page No. - 69)
    6.1 VALUE CHAIN ANALYSIS
           FIGURE 26 VALUE CHAIN ANALYSIS: VERTICAL FARMING MARKET
    6.2 CASE STUDY ANALYSIS
           6.2.1 CASE STUDY: AEROFARMS – TAKING VERTICAL FARMING TO NEW HEIGHTS BY USING ADVANCED TECHNOLOGY
           6.2.2 CASE STUDY: FLUENCE BY OSRAM IMPLEMENTS LED LIGHTING INTO HORTIPOLARIS CULTIVATION AND RESEARCH FACILITY
           6.2.3 CASE STUDY: BENEFITS OF IOT DEPLOYMENT FOR INDOOR VERTICAL FARMS THAT USE DATA-DRIVEN INSIGHTS TO INCREASE YIELD, CONSERVE RESOURCES, AND IMPROVE QUALITY OF PRODUCE
           6.2.4 CASE STUDY: SIGNIFY’S (NETHERLANDS) LED LIGHTING SOLUTION USED BY RIAT FOR GROWING TOMATOES AND CUCUMBERS IN A VERTICAL FARM
           6.2.5 CASE STUDY: AVRIL INSTALLED A VERTICAL FARM IN THEIR NEW BRANCH
           6.2.6 CASE STUDY: KARMA FARM ADDED HYDROPONIC SOLUTION TO ITS TRADITIONAL FARM SOLUTION TO ACHIEVE SUSTAINABILITY
    6.3 REGION-WISE RECENT DEVELOPMENTS IN MARKET
           6.3.1 DEVELOPMENTS IN EUROPE
           6.3.2 DEVELOPMENTS IN NORTH AMERICA
           6.3.3 DEVELOPMENTS IN ASIA PACIFIC
           6.3.4 DEVELOPMENTS IN MIDDLE EAST
    6.4 REVENUE SHIFT AND NEW REVENUE POCKETS FOR MARKET PLAYERS
           FIGURE 27 REVENUE SHIFT AND NEW REVENUE POCKETS FOR MARKET PLAYERS
    6.5 TECHNOLOGY ANALYSIS
    6.6 PATENT ANALYSIS
           TABLE 2 MODULAR VERTICAL FARM CELL
           TABLE 3 COMBINED VERTICAL FARM, BIOFUEL, BIOMASS, AND ELECTRIC POWER GENERATION PROCESS AND FACILITY
           TABLE 4 VERTICAL AEROPONIC PLANT GROWING ENCLOSURE
           TABLE 5 CRATE FOR VERTICAL FARMING, CONTROL UNIT, AND METHOD FOR OPERATING CRATES
           TABLE 6 CONTROL AND SENSOR SYSTEMS FOR AN ENVIRONMENTALLY CONTROLLED VERTICAL FARMING SYSTEM
    6.7 TRADE ANALYSIS
           FIGURE 28 GLOBAL IMPORT DATA ANALYSIS FOR HS CODE 8424
           FIGURE 29 GLOBAL EXPORT DATA ANALYSIS FOR THE HS CODE 8424
           FIGURE 30 COUNTRY-WISE GLOBAL IMPORT DATA ANALYSIS FOR THE HS CODE 8424
    6.8 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 31 MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 7 MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 32 INTENSITY OF COMPETITIVE RIVALRY
           FIGURE 33 THREAT OF SUBSTITUTES
           FIGURE 34 BARGAINING POWER OF BUYERS
           FIGURE 35 BARGAINING POWER OF SUPPLIERS
           FIGURE 36 THREAT OF NEW ENTRANTS
    6.9 REGULATORY LANDSCAPE
           TABLE 8 REGULATIONS: VERTICAL FARMING MARKET

7 VERTICAL FARMING MARKET, BY GROWTH MECHANISM (Page No. - 87)
    7.1 INTRODUCTION
           FIGURE 37 HYDROPONICS GROWTH MECHANISM SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
           TABLE 9 MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
           TABLE 10 MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
    7.2 HYDROPONICS
           7.2.1 INSTALLATION OF HYDROPONIC MECHANISM IS SIMPLE AND COST-EFFECTIVE
                    TABLE 11 HYDROPONICS VERTICAL FARMING, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 12 HYDROPONICS VERTICAL FARMING, BY REGION, 2021–2026 (USD MILLION)
    7.3 AEROPONICS
           7.3.1 HIGH PRODUCTIVITY AND LOW TIMEFRAME ARE ACHIEVED USING IMPROVED PATENTED TECHNOLOGY
                    TABLE 13 AEROPONICS VERTICAL FARMING, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 14 AEROPONICS VERTICAL FARMING, BY REGION, 2021–2026 (USD MILLION)
    7.4 AQUAPONICS
           7.4.1 IMPROVED WATER USAGE TO DRIVE DEMAND FOR AQUAPONICS IN VERTICAL FARMING
                    TABLE 15 AQUAPONICS VERTICAL FARMING, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 16 AQUAPONICS VERTICAL FARMING, BY REGION, 2021–2026 (USD MILLION)

8 VERTICAL FARMING MARKET, BY STRUCTURE (Page No. - 93)
    8.1 INTRODUCTION
           FIGURE 38 BUILDING-BASED VERTICAL FARMS TO HOLD LARGER MARKET SHARE IN 2026
           TABLE 17 MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
           TABLE 18 MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
    8.2 BUILDING-BASED VERTICAL FARMS
           8.2.1 COUNTRIES WITH UNSUPPORTED CROP ENVIRONMENT ARE EARLY ADOPTERS OF BUILDING-BASED VERTICAL FARMS
                    TABLE 19 BUIDING-BASED VERTICAL FARMING, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 20 BUIDING-BASED VERTICAL FARMING, BY REGION, 2021–2026 (USD MILLION)
    8.3 SHIPPING CONTAINER-BASED VERTICAL FARMS
           8.3.1 EMERGING VERTICAL FARM SOLUTIONS FOR SMALL FARMERS TO DRIVE DEMAND FOR SHIPPING CONTAINER-BASED VERTICAL FARMS
                    TABLE 21 SHIPPING CONTAINER-BASED MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 22 SHIPPING CONTAINER-BASED VERTICAL FARMING, BY REGION, 2021–2026 (USD MILLION)

9 VERTICAL FARMING MARKET, BY CROP TYPE (Page No. - 98)
    9.1 INTRODUCTION
           FIGURE 39 LETTUCE TO BE LEADING SEGMENT OF MARKET BY CROP TYPE DURING FORECAST PERIOD
           TABLE 23 MARKET, BY CROP TYPE, 2017–2020 (USD MILLION)
           TABLE 24 MARKET, BY CROP TYPE, 2021–2026 (USD MILLION)
    9.2 VEGETABLES
           9.2.1 LETTUCE MAINLY CULTIVATED IN CONTROLLED ENVIRONMENT IN VERTICAL FARMS
    9.3 FRUITS
           9.3.1 DEMAND FOR ORGANIC FRUITS TO DRIVE MARKET GROWTH OF VERTICAL FARMS
                    TABLE 25 NORTH AMERICA: MARKET, BY CROP TYPE, 2017–2020 (USD MILLION)
                    TABLE 26 NORTH AMERICA: MARKET, BY CROP TYPE, 2021–2026 (USD MILLION)
                    TABLE 27 EUROPE: MARKET, BY CROP TYPE, 2017–2020 (USD MILLION)
                    TABLE 28 EUROPE: MARKET, BY CROP TYPE, 2021–2026 (USD MILLION)
                    TABLE 29 ASIA PACIFIC: MARKET, BY CROP TYPE, 2017–2020 (USD MILLION)
                    TABLE 30 ASIA PACIFIC: MARKET, BY CROP TYPE, 2021–2026 (USD MILLION)
                    TABLE 31 ROW: MARKET, BY CROP TYPE, 2017–2020 (USD MILLION)
                    TABLE 32 ROW: MARKET, BY CROP TYPE, 2021–2026 (USD MILLION)

10 VERTICAL FARMING MARKET, BY OFFERING (Page No. - 106)
     10.1 INTRODUCTION
               FIGURE 40 MARKET BY HARDWARE TO HOLD LARGEST MARKET SHARE IN 2026
               TABLE 33 MARKET, BY OFFERING, 2017–2020 (USD MILLION)
               TABLE 34 MARKET, BY OFFERING, 2021–2026 (USD MILLION)
               FIGURE 41 LIGHTING SEGMENT TO DOMINATE VERTICAL FARMING HARDWARE MARKET DURING FORECAST PERIOD
               TABLE 35 MARKET, BY HARDWARE, 2017–2020 (USD MILLION)
               TABLE 36 MARKET, BY HARDWARE, 2021–2026 (USD MILLION)
     10.2 HARDWARE
             10.2.1 LIGHTING
                       TABLE 37 MARKET FOR LIGHTING, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 38 MARKET FOR LIGHTING, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 39 MARKET FOR LIGHTING, BY COMPONENT, 2017–2020  (USD MILLION)
                       TABLE 40 MARKET FOR LIGHTING, BY COMPONENT, 2021–2026  (USD MILLION)
                       10.2.1.1 Lighting Fixtures
                                   10.2.1.1.1 High Efficiency of LEDs to drive their demand in vertical farms
                                   TABLE 41 MARKET FOR LIGHTING FIXTURES, BY REGION, 2017–2020  (USD MILLION)
                                   TABLE 42 MARKET FOR LIGHTING FIXTURES, BY REGION, 2021–2026  (USD MILLION)
                       10.2.1.2 Lighting Control
                                   10.2.1.2.1 Connected energy-saving lighting systems proven to be ideal for vertical farming
                                   TABLE 43 MARKET FOR LIGHTING CONTROLS, BY REGION, 2017–2020  (USD MILLION)
                                   TABLE 44 MARKET FOR LIGHTING CONTROLS, BY REGION, 2021–2026  (USD MILLION)
             10.2.2 HYDROPONICS COMPONENTS
                       10.2.2.1 Appropriate utilization of nutrient-laden water ensures high crop growth
                                   TABLE 45 MARKET FOR HYDROPONIC COMPONENTS, BY REGION, 2017–2020 (USD MILLION)
                                   TABLE 46 MARKET FOR HYDROPONIC COMPONENTS, BY REGION, 2021–2026 (USD MILLION)
             10.2.3 CLIMATE CONTROL
                       10.2.3.1 Effective HVAC systems are critical to ensure high productivity through precise temperature control
                                   TABLE 47 MARKET FOR CLIMATE CONTROL, BY REGION, 2017–2020  (USD MILLION)
                                   TABLE 48 MARKET FOR CLIMATE CONTROL, BY REGION, 2021–2026 (USD MILLION)
             10.2.4 SENSORS
                       10.2.4.1 Sensors provide necessary data points for accurate monitoring to ensure high productivity and farm efficiency
                                   TABLE 49 MARKET FOR SENSORS, BY REGION, 2017–2020 (USD MILLION)
                                   TABLE 50 MARKET FOR SENSORS, BY REGION, 2021–2026 (USD MILLION)
     10.3 SOFTWARE
     10.4 SERVICES

11 GEOGRAPHY ANALYSIS (Page No. - 118)
     11.1 INTRODUCTION
               FIGURE 42 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD
               TABLE 51 MARKET, BY REGION, 2017–2020 (USD MILLION)
               TABLE 52 MARKET, BY REGION, 2021–2026 (USD MILLION)
     11.2 NORTH AMERICA
               FIGURE 43 VERTICAL FARMING MARKET SNAPSHOT: NORTH AMERICA
               TABLE 53 NORTH AMERICA: MARKET, BY COUNTRY, 2017–2020  (USD MILLION)
               TABLE 54 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2026  (USD MILLION)
               TABLE 55 NORTH AMERICA: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
               TABLE 56 NORTH AMERICA: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
               TABLE 57 NORTH AMERICA: MARKET, BY GROWTH MECHANISM,  2017–2020 (USD MILLION)
               TABLE 58 NORTH AMERICA: MARKET, BY GROWTH MECHANISM,  2021–2026 (USD MILLION)
               TABLE 59 NORTH AMERICA: LIGHTING MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 60 NORTH AMERICA: LIGHTING MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 61 NORTH AMERICA: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2020 (USD MILLION)
               TABLE 62 NORTH AMERICA: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2021–2026 (USD MILLION)
               TABLE 63 NORTH AMERICA: HYDROPONIC COMPONENTS MARKET, BY COUNTRY,  2017–2020 (USD MILLION)
               TABLE 64 NORTH AMERICA: HYDROPONIC COMPONENTS MARKET, BY COUNTRY,  2021–2026 (USD MILLION)
               TABLE 65 NORTH AMERICA: CLIMATE CONTROLS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 66 NORTH AMERICA: CLIMATE CONTROLS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 67 NORTH AMERICA: SENSORS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 68 NORTH AMERICA: SENSORS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             11.2.1 US
                       11.2.1.1 Increase in number of vertical farms and partnerships among companies help boost vertical farming in US
                                   TABLE 69 US: VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 70 US: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 71 US: MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
                                   TABLE 72 US: MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
                                   TABLE 73 US: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 74 US: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
             11.2.2 CANADA
                       11.2.2.1 Presence of technologically advanced vertical farming companies in Canada increasing concept of growing crops vertically
                                   TABLE 75 CANADA: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 76 CANADA: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 77 CANADA: MARKET, BY GROWTH MECHANISM, 2017–2020  (USD MILLION)
                                   TABLE 78 CANADA: MARKET, BY GROWTH MECHANISM, 2021–2026  (USD MILLION)
                                   TABLE 79 CANADA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 80 CANADA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
             11.2.3 MEXICO
                       11.2.3.1 Increase in population, deteriorating cultivation zones, and scarcity of water drive adoption of vertical farming in Mexico
                                   TABLE 81 MEXICO: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 82 MEXICO: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 83 MEXICO: MARKET, BY GROWTH MECHANISM, 2017–2020  (USD MILLION)
                                   TABLE 84 MEXICO: MARKET, BY GROWTH MECHANISM, 2021–2026  (USD MILLION)
                                   TABLE 85 MEXICO: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 86 MEXICO: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
     11.3 EUROPE
               FIGURE 44 VERTICAL FARMING MARKET SNAPSHOT: EUROPE
               TABLE 87 EUROPE: MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 88 EUROPE: MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 89 EUROPE: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
               TABLE 90 EUROPE: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
               TABLE 91 EUROPE: MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
               TABLE 92 EUROPE: MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
               TABLE 93 EUROPE: LIGHTING MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 94 EUROPE: LIGHTING MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 95 EUROPE: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2020 (USD MILLION)
               TABLE 96 EUROPE: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2021–2026 (USD MILLION)
               TABLE 97 EUROPE: HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 98 EUROPE: HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 99 EUROPE: CLIMATE CONTROLS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 100 EUROPE: CLIMATE CONTROLS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 101 EUROPE: SENSORS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 102 EUROPE: SENSORS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               11.3.1 EU5
                       11.3.1.1 Focus on advanced technologies help create high growth opportunities for vertical farming market in EU5
                                   TABLE 103 EU5: FARMING MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 104 EU5: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 105 EU5: MARKET, BY GROWTH MECHANISM, 2017–2020  (USD MILLION)
                                   TABLE 106 EU5: MARKET, BY GROWTH MECHANISM, 2021–2026  (USD MILLION)
                                   TABLE 107 EU5: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 108 EU5: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
             11.3.2 SCANDINAVIA
                       11.3.2.1 Deployment of vertical farms in restaurants, retail, and grocery stores eliminates food wastage during transportation in Scandinavia
                                   TABLE 109 SCANDINAVIA: FARMING MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 110 SCANDINAVIA: VERTICAL FARMING MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 111 SCANDINAVIA: MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
                                   TABLE 112 SCANDINAVIA: MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
                                   TABLE 113 SCANDINAVIA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020  (USD MILLION)
                                   TABLE 114 SCANDINAVIA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026  (USD MILLION)
             11.3.3 NETHERLANDS
                       11.3.3.1 Partnerships and collaborations between leading vertical farming companies are driving market’s growth in Netherlands
                                   TABLE 115 NETHERLANDS: FARMING MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 116 NETHERLANDS: VERTICAL FARMING MARKET, BY STRUCTURE, 2021–2026  (USD MILLION)
                                   TABLE 117 NETHERLANDS: MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
                                   TABLE 118 NETHERLANDS: MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
                                   TABLE 119 NETHERLANDS: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020  (USD MILLION)
                                   TABLE 120 NETHERLANDS: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026  (USD MILLION)
             11.3.4 REST OF EUROPE
                       TABLE 121 REST OF EUROPE: VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2020  (USD MILLION)
                       TABLE 122 REST OF EUROPE: MARKET, BY STRUCTURE, 2021–2026  (USD MILLION)
                       TABLE 123 REST OF EUROPE: MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
                       TABLE 124 REST OF EUROPE: MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
                       TABLE 125 REST OF EUROPE: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020  (USD MILLION)
                       TABLE 126 REST OF EUROPE: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026  (USD MILLION)
     11.4 ASIA PACIFIC
               FIGURE 45 MARKET SNAPSHOT: ASIA PACIFIC
               TABLE 127 ASIA PACIFIC: MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 128 ASIA PACIFIC: MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 129 ASIA PACIFIC: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
               TABLE 130 ASIA PACIFIC: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
               TABLE 131 ASIA PACIFIC: MARKET, BY GROWTH MECHANISM,  2017–2020 (USD MILLION)
               TABLE 132 ASIA PACIFIC: MARKET, BY GROWTH MECHANISM,  2021–2026 (USD MILLION)
               TABLE 133 ASIA PACIFIC: LIGHTING MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 134 ASIA PACIFIC: LIGHTING MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 135 ASIA PACIFIC: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2020 (USD MILLION)
               TABLE 136 ASIA PACIFIC: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2021–2026 (USD MILLION)
               TABLE 137 ASIA PACIFIC: HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 138 ASIA PACIFIC: HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 139 ASIA PACIFIC: CLIMATE CONTROLS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 140 ASIA PACIFIC: CLIMATE CONTROLS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 141 ASIA PACIFIC: SENSORS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 142 ASIA PACIFIC: SENSORS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             11.4.1 CHINA
                       11.4.1.1 Investment in vertical farming is increasing due to increase in urban population and declining agricultural land in China
                                   TABLE 143 CHINA: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 144 CHINA: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 145 CHINA: MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
                                   TABLE 146 CHINA: MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
                                   TABLE 147 CHINA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 148 CHINA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
             11.4.2 JAPAN
                       11.4.2.1 High involvement in R&D for vertical farming producing growth opportunities for vertical farming market in Japan
                                   TABLE 149 JAPAN: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 150 JAPAN: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 151 JAPAN: MARKET, BY GROWTH MECHANISM, 2017–2020  (USD MILLION)
                                   TABLE 152 JAPAN: MARKET, BY GROWTH MECHANISM, 2021–2026  (USD MILLION)
                                   TABLE 153 JAPAN: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 154 JAPAN: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
             11.4.3 SINGAPORE
                       11.4.3.1 Support from government and achieving food security helping Singapore to become global leader in vertical farming
                                   TABLE 155 SINGAPORE: VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
                                   TABLE 156 SINGAPORE: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
                                   TABLE 157 SINGAPORE: MARKET, BY GROWTH MECHANISM, 2017–2020  (USD MILLION)
                                   TABLE 158 SINGAPORE: MARKET, BY GROWTH MECHANISM, 2021–2026  (USD MILLION)
                                   TABLE 159 SINGAPORE: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 160 SINGAPORE: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
             11.4.4 REST OF ASIA PACIFIC
                       TABLE 161 REST OF ASIA PACIFIC: MARKET, BY STRUCTURE, 2017–2020  (USD MILLION)
                       TABLE 162 REST OF ASIA PACIFIC: MARKET, BY STRUCTURE, 2021–2026  (USD MILLION)
                       TABLE 163 REST OF ASIA PACIFIC: MARKET, BY GROWTH MECHANISM,  2017–2020 (USD MILLION)
                       TABLE 164 REST OF ASIA PACIFIC: MARKET, BY GROWTH MECHANISM,  2021–2026 (USD MILLION)
                       TABLE 165 REST OF ASIA PACIFIC: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020  (USD MILLION)
                       TABLE 166 REST OF ASIA PACIFIC: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026  (USD MILLION)
     11.5 REST OF THE WORLD
               TABLE 167 ROW: MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 168 ROW: MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 169 ROW: MARKET, BY STRUCTURE, 2017–2020 (USD MILLION)
               TABLE 170 ROW: MARKET, BY STRUCTURE, 2021–2026 (USD MILLION)
               TABLE 171 ROW: MARKET, BY GROWTH MECHANISM, 2017–2020  (USD MILLION)
               TABLE 172 ROW: MARKET, BY GROWTH MECHANISM, 2021–2026  (USD MILLION)
               TABLE 173 ROW: LIGHTING MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 174 ROW: LIGHTING MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 175 ROW: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2017–2020 (USD MILLION)
               TABLE 176 ROW: LIGHTING MARKET, BY LIGHTING COMPONENTS, 2021–2026 (USD MILLION)
               TABLE 177 ROW: HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 178 ROW: HYDROPONIC COMPONENTS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 179 ROW: CLIMATE CONTROLS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 180 ROW: CLIMATE CONTROLS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
               TABLE 181 ROW: SENSORS MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 182 ROW: SENSORS MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             11.5.1 MIDDLE EAST & AFRICA
                       11.5.1.1 Increase in investments to develop indoor vertical farming in Middle East & Africa
                                   TABLE 183 MIDDLE EAST & AFRICA: VERTICAL FARMING MARKET, BY STRUCTURE, 2017–2020  (USD MILLION)
                                   TABLE 184 MIDDLE EAST & AFRICA: MARKET, BY STRUCTURE, 2021–2026  (USD MILLION)
                                   TABLE 185 MIDDLE EAST & AFRICA: MARKET, BY GROWTH MECHANISM,  2017–2020 (USD MILLION)
                                   TABLE 186 MIDDLE EAST & AFRICA: MARKET, BY GROWTH MECHANISM,  2021–2026 (USD MILLION)
                                   TABLE 187 MIDDLE EAST & AFRICA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020 (USD MILLION)
                                   TABLE 188 MIDDLE EAST & AFRICA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026 (USD MILLION)
             11.5.2 SOUTH AMERICA
                       11.5.2.1 Emergence of start-ups involved in vertical farming to boost growth of market in South America
                                   TABLE 189 SOUTH AMERICA: MARKET, BY STRUCTURE, 2017–2020  (USD MILLION)
                                   TABLE 190 SOUTH AMERICA: MARKET, BY STRUCTURE, 2021–2026  (USD MILLION)
                                   TABLE 191 SOUTH AMERICA: MARKET, BY GROWTH MECHANISM, 2017–2020 (USD MILLION)
                                   TABLE 192 SOUTH AMERICA: MARKET, BY GROWTH MECHANISM, 2021–2026 (USD MILLION)
                                   TABLE 193 SOUTH AMERICA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2017–2020  (USD MILLION)
                                   TABLE 194 SOUTH AMERICA: LIGHTING MARKET, BY LIGHTING COMPONENT, 2021–2026  (USD MILLION)

12 COMPETITIVE LANDSCAPE (Page No. - 169)
     12.1 OVERVIEW
               FIGURE 46 ORGANIC AND INORGANIC STRATEGIES ADOPTED BY COMPANIES OPERATING IN MARKET
     12.2 MARKET SHARE AND RANKING ANALYSIS
               TABLE 195 MARKET: DEGREE OF COMPETITION,2020 (LIGHTING PROVIDERS)
               TABLE 196 MARKET: DEGREE OF COMPETITION,2020 (CROP PRODUCERS)
     12.3 FIVE-YEAR COMPANY REVENUE ANALYSIS
               FIGURE 47 REVENUE ANALYSIS FOR KEY COMPANIES IN PAST FIVE YEARS
     12.4 MARKET: COMPANY EVALUATION MATRIX (FOR OEMS AND SYSTEM INTEGRATORS), 2020
               FIGURE 48 MARKET: COMPANY EVALUATION MATRIX (FOR OEMS AND SYSTEM INTEGRATORS), 2020
             12.4.1 STAR
             12.4.2 PERVASIVE PLAYER
             12.4.3 EMERGING LEADER
             12.4.4 PARTICIPANT
     12.5 COMPETITIVE BENCHMARKING
               TABLE 197 COMPANY FOOTPRINT
               TABLE 198 COMPANY OFFERING FOOTPRINT
               TABLE 199 COMPANY REGIONAL FOOTPRINT
     12.6 VERTICAL FARMING MARKET: COMPANY EVALUATION MATRIX (FOR GROWERS /VERTICAL FARMING COMPANIES), 2020
               FIGURE 49 MARKET: COMPANY EVALUATION  MATRIX (FOR GROWERS/VERTICAL FARMING COMPANIES), 2020
             12.6.1 STAR
             12.6.2 PERVASIVE
             12.6.3 EMERGING LEADER
             12.6.4 PARTICIPANT
     12.7 COMPETITIVE SCENARIO AND TRENDS
             12.7.1 PRODUCT LAUNCHES
                       TABLE 200 MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, FEBRUARY 2019–JUNE 2021
             12.7.2 DEALS
                       TABLE 201 MARKET: DEALS, MARCH 2020–AUGUST 2021
             12.7.3 EXPANSIONS
                       TABLE 202 MARKET: OTHERS, MARCH 2019–AUGUST 2021

13 COMPANY PROFILE (Page No. - 184)
     13.1 INTRODUCTION
     13.2 KEY PLAYERS
(Business overview, Products/Solutions/Services offered, MNM view)*
             13.2.1 SIGNIFY
                       TABLE 203 SIGNIFY: BUSINESS OVERVIEW
                       FIGURE 50 SIGNIFY: COMPANY SNAPSHOT
                       TABLE 204 SIGNIFY: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
                       TABLE 205 SIGNIFY: DEALS
             13.2.2 OSRAM
                       TABLE 206 OSRAM: BUSINESS OVERVIEW
                       FIGURE 51 OSRAM: COMPANY SNAPSHOT
                       TABLE 207 OSRAM: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
                       TABLE 208 OSRAM: PRODUCT LAUNCHES
                       TABLE 209 OSRAM: DEALS
                       TABLE 210 OSRAM: OTHERS
             13.2.3 FREIGHT FARMS
                       TABLE 211 FREIGHT FARMS BUSINESS OVERVIEW
                       TABLE 212 FREIGHT FARMS: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
                       TABLE 213 FREIGHT FARMS: PRODUCT LAUNCHES
                       TABLE 214 FREIGHT FARMS: DEALS
                       TABLE 215 FREIGHT FARMS: OTHERS
             13.2.4 AEROFARMS
                       TABLE 216 AEROFARMS: BUSINESS OVERVIEW
                       TABLE 217 AEROFARMS: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
                       TABLE 218 AEROFARMS: DEALS
                       TABLE 219 AEROFARMS: OTHERS
             13.2.5 SKY GREENS
                       TABLE 220 SKY GREENS: BUSINESS OVERVIEW
                       TABLE 221 SKY GREENS: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
             13.2.6 SPREAD
                       TABLE 222 SPREAD: BUSINESS OVERVIEW
                       TABLE 223 SPREAD: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
             13.2.7 PLENTY
                       TABLE 224 PLENTY: BUSINESS OVERVIEW
                       TABLE 225 PLENTY: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
                       TABLE 226 PLENTY: OTHERS
             13.2.8 VALOYA
                       TABLE 227 VALOYA: BUSINESS OVERVIEW
                       TABLE 228 VALOYA: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
                       TABLE 229 VALOYA: DEALS
             13.2.9 EVERLIGHT ELECTRONICS
                       TABLE 230 EVERLIGHT ELECTRONICS: BUSINESS OVERVIEW
                       FIGURE 52 EVERLIGHT ELECTRONICS: COMPANY SNAPSHOT
                       TABLE 231 EVERLIGHT ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
             13.2.10 HELIOSPECTRA AB
                       TABLE 232 HELIOSPECTRA AB: BUSINESS OVERVIEW
                       FIGURE 53 HELIOSPECTRA AB: COMPANY SNAPSHOT
                       TABLE 233 HELIOSPECTRA AB: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
                       TABLE 234 HELIOSPECTRA AB: PRODUCT LAUNCHES
                       TABLE 235 HELIOSPECTRA AB: DEALS
                       TABLE 236 HELIOSPECTRA AB: OTHERS
             13.2.11 GREEN SENSE FARMS
                       TABLE 237 GREEN SENSE FARMS: BUSINESS OVERVIEW
                       TABLE 238 GREEN SENSE FARMS: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
             13.2.12 AGRILUTION
                       TABLE 239 AGRILUTION: BUSINESS OVERVIEW
                       TABLE 240 AGRILUTION: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
             13.2.13 AMERICAN HYDROPONICS
                       TABLE 241 AMERICAN HYDROPONICS: BUSINESS OVERVIEW
                       TABLE 242 AMERICAN HYDROPONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
             13.2.14 URBAN CROP SOLUTIONS
                       TABLE 243 BUSINESS OVERVIEW: URBAN CROP SOLUTIONS
                       TABLE 244 URBAN CROP SOLUTIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
     13.3 OTHER KEY PLAYERS
             13.3.1 VERTICAL FARM SYSTEMS
             13.3.2 BOWERY FARMING
             13.3.3 AGRICOOL
             13.3.4 SANANBIO
             13.3.5 GROWPOD SOLUTIONS
             13.3.6 INFARM
             13.3.7 ALTIUS FARMS
             13.3.8 INTELLIGENT GROWTH SOLUTIONS
             13.3.9 4D BIOS INC
             13.3.10 FUTURE CROPS
             13.3.11 BRIGHT FARMS
             13.3.12 SWEGREEN
             13.3.13 VERTICAL FUTURE LTD.

*Details on Business overview, Products/Solutions/Services offered, MNM view might not be captured in case of unlisted companies.

14 APPENDIX (Page No. - 233)
     14.1 INSIGHTS FROM INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS


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