Global Grow Light Market, By Offering (Hardware, Software and Services), Lighting Type (Toplighting, Interlighting), Installation Type (New installations, Retrofit Installations), Watt (<300 Watts, >300 Watts), Cultivated Plant (Fruits and Vegetables, Flowers, Cannabis), Spectrum (Full Spectrum, Limited Spectrum), Application (Greenhouses, Vertical Farms, Indoor Farms, Research and Tissue Culture Laboratories), Sales Channel (Distribution Channels, E-commerce Channels, Direct Sales Channels), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The grow light market is expected to witness market growth at a rate of 23.15% in the forecast period of 2021 to 2028. Data Bridge Market Research report on grow light market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the technology for various applications is escalating the growth of grow light market.
A growing light or lamp refers to an electrical light that acts as an artificial supply of sunshine for accelerating plant growth. These lights tend to emit an electromagnetic wave within the actinic radiation spectrum simulating daylight for chemical action.
The rise in the adoption of indoor farming in urban areas acts as one of the major factors driving the growth of grow light market. The government support for adoption of solid-state lighting technology and controlled-environment agriculture (CEA) practices and increase in popularity of grow light among farmers for producing same quality crops all year round irrespective of weather conditions accelerate the market growth. The rise in the investments in establishing vertical farms and greenhouses and related with the advanced technologies and increase in inclination for the light due to the benefits such as energy-efficiency and longer life over conventional lighting technologies, further influence the market. Additionally, urbanization, change of lifestyle and rise in acceptance of advanced technologies positively affect the grow light market. Furthermore, legalization of cannabis in different and integration of hardware, software, and data analytics platform for horticulture yield estimation and energy extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, high setup and installation costs of LED grow lights and complex requirement for varied light spectrums for different crops are expected to obstruct the market growth. Difficulties in integrating different components and technologies in CEA facilities and absence of standard testing practices for accessing product quality of horticulture are projected to challenge the grow light market in the forecast period of 2021-2028.
This grow light market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info grow light market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Grow Light Market Scope and Market Size
The grow light market is segmented on the basis of offering, lighting type, installation type, watt, cultivated plant, spectrum, application and sales channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of offering, the grow light market has been into hardware, software and services.
- On the basis of lighting type, the grow light market has been into top lighting and interlighting.
- On the basis of installation type, the grow light market has been into new installations and retrofit installations.
- On the basis of watt, the grow light market has been into <300 watts and >300 watts.
- On the basis of cultivated plant, the grow light market has been into fruits and vegetables, flowers and cannabis.
- On the basis of spectrum, the grow light market has been into full spectrum and limited spectrum.
- On the basis of application, the grow light market has been into greenhouses, vertical farms, indoor farms, research and tissue culture laboratories.
- On the basis of sales channel, the grow light market has been into distribution channels, e-commerce channels and direct sales channels.
Global Grow Light Market Country Level Analysis
The grow light market is analyzed and market size, volume information is provided by country, offering, lighting type, installation type, watt, cultivated plant, spectrum, application and sales channel as referenced above.
The countries covered in the global grow light market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the grow light market due to the high use to support the crop growth in the absence of natural sunlight within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 due to the increase in use for several industrial purposes in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Grow Light Market Share Analysis
The grow light market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to grow light market.
The major players covered in the grow light market report are IWASAKI ELECTRIC CO., LTD, Illumitex Inc., Hortilux Schréder B.V., Hawthorne Gardening Company , AeroFarms, Gavita International B.V. , Advanced Lighting Technologies, LLC , Hydrofarm LLC., Signify Holding., GENERAL ELECTRIC COMPANY , OSRAM GmbH, LumiGrow., Heliospectra AB , InduLux Technologies., Platinum LED Lights LLC, Valoya , Thrive Agritech, EarthLED.com, and US LED, Ltd among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Grow Light Market
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