Dublin, April 06, 2023 (GLOBE NEWSWIRE) -- The "Agritecture Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2018-2028 Segmented By Integration (Indoor v/s Outdoor), By Structure (Retrofitting, Extension, New Building), By Application (Commercial v/s Residential), By Region" report has been added to ResearchAndMarkets.com's offering.
The Global Agritecture Market is anticipated to grow at CAGR of 10% to reach USD 7723 million by 2028 on account of increasing yield of crop without any increment in the land area.
Companies Mentioned
- Agritecture Consulting LLC
- AeroFarms LLC
- Obyashi Corporation
- Freight Farms, Inc.
- Grow Pod Solutions
- LettUs Grow Ltd.
- FarmBox Foods
Also, the subsistence crop production all year round regardless of the weather conditions is further creating a positive impact on the global agritecture market. Agritecture can be referred to as a fusion of agriculture with architecture. It can be employed within a building using vertical farming to intensify plant growth and green density.
Lack of Arable Land to Drive Agritecture Market
One of the most essential factors contributing to the expansion of the global agritecture market is the loss of fertile land. This can be ascribed to the development of domestic areas, rise in number of metropolitan cities, commercial places, amongst others making the cultivation of crops troublesome. The shrinkage of land can also be attributed to climate extremities, slope steepness, rockiness of land, soil erosion, etc.
Moreover, the growing use of agrochemicals, increased deforestation and overgrazing activities, and a rise in number of floods have led to land degradation and formation of barren lands which are not suitable for cultivation. The increasing construction and mining projects also have had a negative impact on the quality of land and soil as well as the ground water table. These factors are contributing to the increased adoption of agritecture practices across the globe.
Growing use of Advanced Technologies
Different developments are made to promote plant growth and a good environment for the crops, so that when traditional farming is impractical inside or outside of corporate infrastructure, technological developments can help. One of the cutting-edge technologies used in the AgroTech structure, which lowers the cost of activities like vertical farming while also making it an effective kind of agricultural architecture, is light emitting diode technology. Plant growth inside the infrastructure is aided by artificial illumination used in indoor agriculture.
The goal of automation in agritecture is to speed up time to market, cut expenses associated with production, distribution, and the environment, and standardize high quality. Internet of Things (IoT) is now a widely used technology that supports plenty of sectors, including manufacturing, transportation, and agriculture. The agriculture industry has undergone a revolution with the help of IoT.
Growing Concerns about Aesthetic Looks & Increasing Awareness about Agritecture
The vertical farms also function in an aesthetic sense, producing a design element that not only adds depth to a room but also forms a substantial but not overpowering partition in the space. This is a choice that requires meticulous upkeep, but crop cultivation and harvesting must also be taken into account to achieve practical result.
The swift acceptance of agritecture can be owed to its benefit of offering aesthetic looks and greener environment for the infrastructure. Several airports, railway and metro stations are opting to install a vertical farm inside or outside their premises to grow plants which is actively driving the growth of global agritecture market. The best-known example for this is the Jewel Changi Airport Garden in Singapore which grows plants on gross floor area of 135,700 square meters.
Report Scope:
In this report, global agritecture market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Agritecture Market, By Integration:
- Indoor
- Outdoor
Agritecture Market, By Structure:
- Retrofitting
- Extension
- New Building
Agritecture Market, By Application:
- Commercial
- Residential
Agritecture Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Netherlands
- Sweden
- Germany
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- Singapore
- South Korea
- Australia
- India
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/enfsfr
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