The global indoor farming technology market size was US$ 14.1 billion in 2021. The global indoor farming technology market is projected to grow to US$ 22.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2022 to 2030. 
A variety of technologies are used in the indoor farming technique. The technique of indoor farming entails the creation of soil-based, aeroponic, aquaponic, and hybrid systems to supply crop plants with high-level nutrients and artificial light. Both small-scale and large-scale indoor agriculture is possible with modern technology.

Factors Influencing the Market
The steadily declining cost of Light-emitting Diodes (LEDs) will primarily drive the growth of the global indoor farming technology market during the forecast period. Apart from that, growing advancements in LED technology aimed at increasing efficiency and long life will also accelerate the growth of the indoor farming technology market during the analysis period. 
Health and nutrition, food safety and transparency, education, urban sustainability, and the rising desire for organic food are the other main factors propelling the indoor farming technology market forward. 
The growing urban population and rising awareness about the negative impact of pesticides will also upsurge the adoption of indoor farming practices during the study period. 
On the flip side, a lack of technological knowledge may act as a major restraint in the market growth during the study period.

COVID-19 Impact Analysis
The global indoor farming technology market witnessed the positive impact of the COVID-19 pandemic. Due to the spread of the COVID-19 disease, people became more conscious of health, which raised the demand for organically grown food. As a result, indoor farming practices increased significantly.

Regional Analysis
The Asia-Pacific indoor farming technology market will record the highest growth rate throughout the study period, owing to the growing contribution of industry players. For instance, in November 2019, Sustenir, an agritech manufacturer with headquarters in Singapore, opened a 30,000-square-foot vertical hydroponic farm in Tuen Mun, Hong Kong. Hong Kong is a population-dense country which significantly depends on imported goods because conventional agriculture cannot produce enough to meet local demands. Apart from that, the high population of China and India will also contribute to the indoor farming technology market during the study period. Additionally, other factors like technological advancements, decreasing labor levels, and the rising demand for high productivity will boost the growth of the Asia-Pacific indoor farming technology market during the study period.

Competitors in the Market
• Signify
• Osram (Germany)
• Freight Farms (US)
• AeroFarms (US)
• Sky Greens (Singapore)
• Spread Co., Ltd. (Japan)
• Plenty (US)
• Valoya (Finland)
• Everlight Electronics Co., Ltd. (Taiwan)
• Heliospectra (Sweden)
• Other Prominent Players

Market Segmentation
The global indoor farming technology market segmentation focuses on Growing Medium, Crop Type, and Region. 
By Growing Medium
• Hydroponics
• Aeroponics
• Aquaponics
By Crop Type
• Fruits & Vegetables
• Herbs & Microgreens
• Flowers & Ornamentals
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America