Portland, June 06, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “North America Aeroponics Farming Market by Component (Irrigation Component, Lightning, Sensor, Climate Control, Building Materials, and Others): Region Opportunity Analysis and Industry Forecast, 2017–2025”. According to the report, the global North America aeroponics farming market was pegged at $126.2 million in 2017 and is expected to garner $759.4 million by 2025, growing at a CAGR of 25.5% from 2018 to 2025.
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North America aeroponics farming market is divided on the basis of component and region. Based on component, the market is segmented into irrigation component, lightning, sensor, climate control, building materials, and others. The lightning segment held the largest share in 2017, contributing about one-fourth of the total market, owing to increasing trend of low power consumption and low heat dissipating lighting. However, the climate control segment is projected to manifest the fastest CAGR of 28.2% during the forecast period, owing to rising need for climate control technologies as it eliminates the harsh impact of sunlight, wind, and other factors on the plant growth. The sensor segment is also expected to show a gradual growth and reach $102.3 million by 2025.
On the basis of region, the market is segmented into the U.S., Canada, and Mexico. The market in the U.S. accounted the largest share in 2017, contributing about four-fifths of the total market, owing to the presence of various agricultural giants in the country. However, the market in Mexico is estimated to portray the fastest CAGR of 31.3% during the study period, owing to high adoption of smart technologies in the country.
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North America aeroponics farming market report includes an in-depth analysis of the major market players in the region, including Evergreen Farm Grow360, Freight Farms, Bright Agrotech (Plenty), and Aerofarms. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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