Global Light-emitting Diode (LED) Grow Lights Market 2023-2027

Global Light-emitting Diode (LED) Grow Lights Market 2023-2027
The light-emitting diode (LED) grow lights market is forecasted to grow by USD 4869.64 mn during 2022-2027, accelerating at a CAGR of 26.8% during the forecast period. The report on the light-emitting diode (LED) grow lights 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 growth in indoor farming, need for energy-efficient and long-lasting grow light technology, and need to improve the yield of crops and reduce crop wastage.

Technavio's light-emitting diode (LED) grow lights market is segmented as below:

By ApplicationCommercial greenhousesVertical farmingIndoor farmingOthersBy Power RatingLow power (<100 W)Medium power (100-300 W)High power (>300 W)By Geographical LandscapeEuropeNorth AmericaAPACSouth AmericaMiddle East and AfricaThis study identifies the innovation and investments in greenhouse horticulture startups as one of the prime reasons driving the light-emitting diode (LED) grow lights market growth during the next few years. Also, use of LED grow lights in suppression of plant diseases and use of artificial intelligence in LED grow lights will lead to sizable demand in the market.

The report on the light-emitting diode (LED) grow lights market covers the following areas:Light-emitting diode (LED) grow lights market sizingLight-emitting diode (LED) grow lights market forecastLight-emitting diode (LED) grow lights 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 light-emitting diode (LED) grow lights market vendors that include Advanced Grow Lights American Co., Biological Innovation and Optimization Systems LLC, Black Dog Grow Technologies Inc., Bridgelux Inc., ControlLED Environments Ltd., Dool Industries, General Electric Co., GrowRay Lighting Technologies, Heliospectra AB, Kessil, Kind LED Grow Lights, LED Hydroponic Ltd., Samsung Electronics Co. Ltd., SANlight GmbH, Senmatic AS, Shenzhen Grow LED Technology Co. Ltd., Valoya Oy, Signify NV, OSRAM Licht AG, and SMART Global Holdings Inc.. Also, the light-emitting diode (LED) grow lights 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.