Global Grow Light Market 2023-2027

Global Grow Light Market 2023-2027
The grow light market is forecasted to grow by USD 7472.08 mn during 2022-2027, accelerating at a CAGR of 15.76% during the forecast period. The report on the grow light market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing popularity of urban agriculture, advances in led lighting technology for horticultural applications, and need to improve the yield of crops and reduce crop wastage.

Technavio's grow light market is segmented as below:

By ApplicationCommercial green houseVertical farmingIndoor farmingResearchBy ProductHIDLED lightsFluorescent lightsOthersBy Geographical LandscapeEuropeNorth AmericaAPACMiddle East and AfricaSouth AmericaThis study identifies the application of grow lights in plant disease detection and monitoring as one of the prime reasons driving the grow light market growth during the next few years. Also, rising popularity of hydroponic farming systems and rising prominence of IoT in grow light technology will lead to sizable demand in the market.

The report on the grow light market covers the following areas:Grow light market sizingGrow light market forecastGrow light market industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading grow light market vendors that include Aerogrow International Inc., Agnetix, ams OSRAM AG, Black Dog Grow Technologies Inc., California LightWorks, Crecer Lighting, EconoLux Industries Ltd., Everlight Electronics Co. Ltd., General Electric Co., Heliospectra AB, Hubbell Inc., Hydrofarm LLC, Koninklijke Philips NV, Lemnis Oreon BV, Samsung Electronics Co. Ltd., Sanan Optoelectronics Co. Ltd., Signify NV, Thrive Agritech, ViparSpectra, and ALTO INDIA. Also, the grow light market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.