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Drivers, restraints, and opportunities-Rise in demand for organic food, limited arable land for traditional agriculture, and popularity of disease-free environment are the major factors fueling the growth of the global aeroponics market. On the other hand, high initial investments curtail down the growth to some extent. However, rise in urban population and technological advancements replacing traditional farming techniques are expected to create a number of opportunities for the key players in the industry.
Allied Market Research published a report, titled, "Aeroponics Market by Application (Indoor Farming and Outdoor Farming) and Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global aeroponics industry was estimated at $578.7 million in 2018 and is expected to hit $3.53 billion by 2026, registering a CAGR of 25.6% from 2019 to 2026.
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The key players profiled in the report include AeroFarms, Aeroponics (AERO Development Corp), BrightFarms Inc, Evergreen Farm Oy, LettUs Grow, CombaGroup SA, Altius Farms, Ponics Technologies, Living Greens Farm, and Freight Farms. These key players have adopted strategies, such as product portfolio investments, expansion, and product launch to enhance their position in the aeroponics market.
Key Benefits for Aeroponics Market :
This study comprises analytical depiction of the global aeroponics market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall aeroponics market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current aeroponics market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the aeroponics market industry.
The report includes the aeroponics market share of key vendors and market trends.
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The indoor farming segment to dominate during the estimated period-
Based on application, the indoor farming segment accounted for three-fifths of the global aeroponics market revenue in 2018 and is anticipated to retain its top status by the end of 2026. This is due to this technology helps to create optimum growing conditions for farmers to grow crops from sowing to harvesting stage in lower time. The same segment is also likely to grow at the fastest CAGR of 27.6% during the estimated period.
The lighting segment to lead the trail by 2026-
Based on component, the lighting segment contributed to more than one-fourth of the global aeroponics market share in 2018 and is expected to rule the roost till 2026. This is due to their ability to produce dual-band color spectrum, which helps the plant to grow even in controlled environments. The climate control segment, on the other hand, would showcase the fastest CAGR of 30.3% during 2019–2026. This is attributed to the fact that it helps to eliminate the harsh impact of sunlight, wind, and other environmental factors on plant growth.
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