Vertical Farming Market Predicted to Grow at a CAGR of 24.2% in Near Future

The number of people living in cities rose to 4.2 billion in 2018 and is further expected to reach 6.7 billion by 2050, as per the World Urbanization Prospects 2018 report published by the United Nations Department of Economic and Social Affairs. This migration from rural to urban areas is owed to the increasing population worldwide and growing government emphasis on smart cities. Farmlands are unable to provide adequate amounts of crops to cater to the rising number of people.

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Hence, there is a dire need for alternate farming techniques, one of which is vertical farming. This farming method makes use of indoor farming techniques and the controlled-environment agriculture (CEA) technology. The production of food through this method is done on vertically inclined surfaces. The crops are stacked in vertical layers, which are integrated into structures such as skyscrapers and shipping containers. 

Vertical farming facilitates the growth of crops in any climate and region, even under extreme temperatures, across the globe. The major crops grown through this process include spinach and lettuce. In 2016, the vertical farming market valued $1.4 billion, and it is projected to grow at a CAGR of 24.2% in the coming years. The two types of structures used for vertical farming are shipping containers and building-based vertical farms. 

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In the near future, building-based vertical farming is predicted to witness a CAGR of 24.6%, as it provides nearly eight times more growing area than single-level farming. It also ensures food security for a city over a long period of time and is cost efficient.

The research offers the global vertical farming market size for the period 2013–2023.

GLOBAL VERTICAL FARMING MARKET

By Component

• Hardware
  • Lighting
    • Grow Lights
    • Grow Light Reflectors
    • Grow Light Ballasts
  • Hydroponic Components
    • Pumps and Irrigation
    • Meters and Solutions
    • Water Filters
    • Others (includes Timer and Delivery System)
  • Climate Control
    • Ventilation Fans
    • Air Purification/ Control 
    • Others (includes Condenser and HVAC System)
  • Sensors
    • Temperature Sensors
    • CO2 Sensors
    • Nutrient Sensors
    • PH Sensors
    • Crop Sensors
    • Others (Biosensors and Electronics Nose)
• Software

By Structure 

• Building Based Vertical Farms
• Shipping Container Based Vertical Farms

By Growth Mechanism

• Hydroponics
• Aeroponics
• Aquaponics

By Crop Type

• Lettuce
• Spinach
• Broccoli
• Cucumber
• Pepper
• Tomato
• Others (includes Strawberry and Pomegranate)

By Geography

• North America
  • By Component
  • By Structure
  • By Growth Mechanism
  • By Crop Type
  • By Country
    • U.S
    • Canada
    • Rest of North America
• Europe
  • By Component
  • By Structure
  • By Growth Mechanism
  • By Crop Type
  • By Country
    • The U.K.
    • Netherland
    • Sweden
    • France
    • Rest of Europe
• Asia-Pacific
  • By Component
  • By Structure
  • By Growth Mechanism
  • By Crop Type
  • By Country
    • Japan
    • China
    • Singapore
    • Taiwan
    • Rest of Asia-Pacific
• Latin America
  • By Component
  • By Structure
  • By Growth Mechanism
  • By Crop Type
  • By Country
    • Brazil
    • Rest of Latin America
• MEA
  • By Component
  • By Structure
  • By Growth Mechanism
  • By Crop Type
  • By Country
    • South Africa
    • Rest of MEA

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Wide Applications in Healthcare and Manufacturing Industries Driving the Growth of Optical Metrology Market

In 2017, the global optical metrology market generated $1,989.2 million and is projected to witness a 6.5% CAGR during the forecast period (2018–2023). The market is growing due to the rising demand for inspection of underground pipes for cracks and defects in oil & gas industry, surging need for precise measuring tools and equipment for inspections in the semiconductor industry, and wide applications of optical metrology in manufacturing and healthcare industries.

The method of measuring, using both 2D and 3D measurement techniques, objects using light is referred to as optical metrology. On the basis of application, the optical metrology market is divided into surface inspection, distance measurement, and form measurement.

Out of these, the surface inspection application dominated the market during the historical period (2013–2017) and is further projected to account for the major share of the market during the forecast period. The reason for this is the rising usage of laser scanners in the surface inspection of aerospace parts and increasing utilization of video measuring machines in the manufacturing of automotive parts in the automobile industry.

When industry is taken into consideration, the optical metrology market is categorized into aerospace & defense, consumer electronics, automotive, medical, and others (which include energy & utility, food & beverage, oil & gas, construction, and education).

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Among these, the largest revenue share of the market was held by the automotive industry during the historical period because of the expanding automotive industry in countries including Germany, China, and the U.S and growing requirement for optical metrology equipment for the measurement and inspection of manufactured automobile parts.

Thus, it is clear that, as machines and tools keep becoming more complex, optical metrology will be used even more in the coming years.

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Armored Vehicles Market Revenue and Industry Expansion Strategies

Wars and acts of genocide are as old as human civilization itself, but often these take a form uglier than imaginable. Asia (South Asia and the Middle East in particular) and Africa have emerged as the hotbeds for such incidents, especially after the two World Wars. Though the setting up of international organizations, such as the United Nations, has helped a bit, the situation is till out of control in many places. The scenario is such that terrorist activities are also spreading to the otherwise-peaceful nations, such as New Zealand and Norway.

To diffuse such threats as soon as possible, as well as protect human lives, governments of several nations are procuring advanced defense equipment, such as armored vehicles, which is why the armored vehicles market is witnessing considerable growth. Such vehicles are helpful in situations wherein a strong offensive has to be launched, while protecting those in the line of fire. Though these are also used for commercial purposes, their primary role is in defense. Here, several types of armored vehicles are deployed, including infantry fighting vehicles, main battle tanks, armored personnel carriers, amphibious armored vehicles, light protected vehicles, tactical trucks, and mine-resistant ambush-protected vehicles.

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Even within the defense sector, there are two types of agencies that procure such equipment — the military and homeland security. Historically, military organizations have been the larger user of armored vehicles, owing to the high number of war-like situations around the world. In the coming years, homeland security departments would rapidly deploy them, due to the increasing incidents of terrorist and insurgency-related acts, primarily in South Asia, the Middle East, and Africa.

With a number of terrorist organizations, such as ISIS, Boko Harem, and Taliban, actively carrying out attacks, it is becoming imperative for countries to increase their homeland security procurement. Often, such attacks are not classified as full-scale wars, which is why the involvement of the military is not that extensive. Here, homeland security departments generally handle the situation, which is why they are gradually increasing their defense procurements in the wake of the rising insurgent and terrorist mishaps.

Apart from terrorism, insurgency, and full-blown wars, civil unrest also puts the life of people at risk. The political situation in a large number of countries is volatile, which results in large-scale protests, where those agitating for a cause resort to violence and public property destruction. Here too, the police or paramilitary forces are pressed into action, so that the violence can be contained, if not completely quelled. In such situations too, armored vehicles are deployed, mostly as a deterrent, but sometimes their use goes beyond it.

Historically, the largest procurement of such equipment has been seen in Europe, and the situation would be the same in the coming years. However, the armored vehicles market would progress at the highest pace in Asia-Pacific (APAC), where countries such as India, Pakistan, Iraq, Yemen, Israel, Syria, and Afghanistan have a serious militancy and insurgency issue. This is why the governments of these countries are spending more than ever on military and homeland security, including on the purchase of advancement combat vehicles.

Therefore, with the strong need to protect security personnel as well as civilians from terrorists and wars, as well as contain general unrest, the sale of armored vehicles would continue increasing.

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SD-WAN Market Growth Opportunities by Regions, Type and Application; Trends Forecast

The global SD-WAN market is being driven by an increasing demand for cost-effective network management, network security and visibility, and simplified network architecture, and the popularity of cloud computing. In 2017, the market was valued at $676.9 million, and it is expected to demonstrate a CAGR of 54.1% during the forecast period (2018–2023). Software-defined wide-area network (SD-WAN) is used to connect enterprises, which have data centers and branch offices across long distances. 

WAN optimization solutions offer a variety of advantages, such as cloud-ready networking infrastructure, real-term business productivity, secure optimization, and greater virtual flexibility. Owing to these, WAN optimization solutions have become extremely popular among IT organizations. Seeing this, a software provider, named Citrix Systems, added new features including secure web, multiple deployment modes, prioritization of applications, and cloud connectivity to its upgraded NetScaler SD-WAN. Such enhancements in the products offered by key players are expected to boost the SD-WAN market further. 

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A robust virtual network is the requirement of new technologies such as big data, internet of things (IoT), and machine to machine (M2M) communication. SD-WAN solutions provide nodes or remote offices to connect to the internet via high-speed broadband, at the same time safeguarding the quality of service (QoS) and compliance requirements, which multi-protocol label switching is unable to do on its own. Another trend being observed in the SD-WAN market is the demand for managed SD-WAN services to deal with the lack of IT resources and network security. 

The market is being driven by multiple factors, one of which is the need for cost-effective network management. As organizations are expanding geographically, their broadband connectivity demand for enterprise area network has increased. Traditional WAN models are becoming unsuitable, as their manual configuration is time-consuming and complex. SD-WAN solutions offer a way out of these problems by reducing the overall operational cost by making them centrally manageable and automating the configurations of WAN edge routers.

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The global SD-WAN market is segmented by region, offering, industry, implementation type, and appliance. The implementation type segment is categorized into outsourced and in-house services. Out of these, the larger share was held by in-house SD-WAN services in 2017, a trend which is predicted to continue during the forecast period. However, the outsourced category is expected to attain a higher CAGR of 59.5%. The shift toward outsourced implementation would be because of its lower failure risk and less complexity, compared to in-house deployment. 

In 2017, the largest revenue share was accumulated by virtual appliances that are also expected to lead the SD-WAN market during the forecast period. This attributed to the wide-ranging application of physical and virtual appliances in small branch offices, data centers, large offices, and cloud platforms such as amazon web services. As the number of such settings increases, virtual devices would be used in ever-increasing numbers across the world. 

Therefore, it is clear that the market for SD-WAN is slated to advance during the forecast period owing to the advantages offered by SD-WAN over traditional WAN.

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Growth of the Patient Engagement Solutions Market in North America

The patient engagement solutions market in North America is generated $3.9 billion in 2017 and is expected to witness a CAGR of 15.8% during the forecast period 2018–2023. Patient engagement refers to the process of establishing communication between patients and their healthcare providers online.

With smooth connectivity, the sharing of medical history, treatment schedule, medication prescriptions, and lab reports has become extremely easy. Patients are more concerned about their personal information and comfort today compared to the past, and therefore demand technologies that can consolidate all their medical information in one place and help them access and share it whenever and from wherever they want. This is why the patient engagement solutions market in North America is progressing.

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On segmenting by component, hardware, services, and software are the three resulting market categories, among which the software category accounted for the largest share (57.2%) in 2017. While this category will still lead the market during the forecast period, the services category will witness the fastest growth (18.1% CAGR). Similarly, the North American patient engagement solutions market can be segmented by delivery mode. Among the three categories under this segment, viz. web-based, on-premises, and cloud-based, the web-based category dominated the market in 2017 with 62.3% revenue contribution.

There is no doubt that elderly people need extensive care, as they are more prone to chronic diseases, such as cancer and diabetes. According to the American Cancer Society (ACS), around 1,688,780 new cases of cancer were diagnosed in the U.S. in 2017. Similarly, the Foundation for AIDS Research (amfAR) reported that in 2016, almost 1.1 million people in North America were suffering from AIDS. With the increasing number of elderly or even comparatively young people prone to such chronic diseases, who are demanding patient engagement solutions, the patient engagement solutions market in North America is predicted to advance in the future.

Thus, we see that owing to conducive government policies and increasing incidents of chronic diseases in the elderly, the North American patient engagement solutions market is predicted to witness steady progress.

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UV Curing System Market to Register 8.8% CAGR in Coming Years

The rising disposable income, rapidly increasing population, urbanization, and expanding e-commerce are some factors contributing to the growth of the food & beverage industry. In addition to this, the competition in the industry is becoming intense, due to which companies are focusing on providing the best service that they can to gain an edge over their competitors.

Other than the food & beverage industry, aerospace & defense, electronics, healthcare, industrial manufacturing, and automotive are the primary end users of UV curing systems. Other end users include media & entertainment, agriculture, and oil & gas industries and water treatment plants.

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The automotive industry uses UV curing systems for the curing of inks, adhesives, and coatings for various components utilized in automobiles. These systems save production time and cost, as UV curing takes less time than heat curing processes.

In the electronics industry, UV curing is used for applications such as lamination, encapsulation, insulation, printed circuit board coating, and optical display bonding. The technique creates a strong bond between plastic and metal substrates that are utilized for manufacturing electronic components.

There are four types of UV curing systems, namely flood curing, conveyor curing, spot curing, and hand-held curing. In 2018, the UV curing system market was dominated by conveyor curing.

The conveyor curing process utilizes a moving conveyor/belt for forming an assembly line that passes through a chamber consisting of multi-spectral lamps/ LEDs, which are mounted above and, on each side, for fast curing of components. The process is utilized for high-volume production in industries, such as optical, automotive, and electronics.

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Oligonucleotide Synthesis Market is Ultimately Generating $2.8 Billion in Revenue by 2023

Valued at $1.5 billion in 2017, the oligonucleotide synthesis market size is predicted to progress with a 10.8% CAGR during the forecast period 2018–2023, ultimately generating $2.8 billion in revenue by 2023. By definition, oligonucleotide synthesis is the artificial creation of oligonucleotides, which are short DNA or RNA fragments.

On the basis of offering, reagents and consumables, synthesized oligonucleotides, and equipment are the three market categories. Among these, synthesized oligonucleotides held the largest revenue share (76.3%) in 2017 and is also predicted to grow the fastest during the forecast period, at an 11.1% CAGR. The increase in contract manufacturing of DNAs and RNAs is expected to escalate the demand for synthesized oligonucleotides. Similarly, when segmented by application, the oligonucleotide synthesis market can be categorized into diagnostics, research, and therapeutics.

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Among all, the research category led the market in 2017 and is expected to be the fastest growing (11.1% CAGR) category. This pays credence to the finding that of all the end users of synthetic oligonucleotides, including diagnostic laboratories, pharmaceutical and biotechnology companies, academic research institutes, and others, academic research institutes dominated the oligonucleotide synthesis market in 2017 with 40.4% revenue share. This further substantiates the fact that increasing research activities in the field is one of the key growth drivers of the market.

In addition, several new products have come in the oligonucleotide synthesis market, such as protecting amino groups, synthesizers with high throughput, and coupling reagents. Similarly, the development of the microarray technology is aiding the production of oligonucleotides for the diagnosis and treatment of diseases. Along with making the nucleotide assembly method efficient and correcting errors in synthesized enzymes, such developments are also helping in the steady progress of the market.

Now, the oligonucleotide R&D is itself being bolstered by growing government support in the form of funding and other initiatives. The U.S. government invested about $820 million in synthetic biology R&D between 2008 and 2014. Similarly, as per SynbiCITE an England-based organization, the U.K government invested over $400 million during 2009–2016 for establishing three training centers and six research institutes dedicated to synthetic biology. Thus, with favorable government attitude toward providing people with better levels of healthcare, the oligonucleotide synthesis market is predicted to continue on the path to prosperity.

Hence, it is clear that the increase in research and development in the synthetic biology field will further the market advance.

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