Vertical Farming Market – Key Market Players and their Core Competencies in Each Type and Application – Semiconductor & Electronics Industry Insights

submitted 5 months ago, Thursday, Oct 26, 2017, 04:33:17 by kelly_harper in Business
Vertical Farming Market – Key Market Players and their Core Competencies in Each Type and Application –...
Vertical farming is the method of producing food in the form of used warehouse, skyscraper, shipping container and vertically stacked layers. The global vertical farming market is expected to witness a CAGR of 24.2% during the forecast period, to reach $6,372.5 million by 2023. Vertical farming uses the method devised by indoor farming techniques and controlled-environment agriculture (CEA) technology. Commercial growers prefer using vertical farming solutions to involve less manpower and high efficiency LED to ensure minimum power usage.

The aeroponics growth mechanism is expected to grow at the fastest rate in this industry, during the forecast period. The building-based structure is expected to account for a larger part of the market compared to shipping container vertical farm market, during the forecast period. The building-based structure functions as a community garden hub that incorporates hydroponics and vertical farming in an outward tree-like design. It helps in providing huge cost savings and food security to a city for a long period of time.
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