Our latest research report entitled Grow Light Market (by technology (high-intensity discharge, led, and fluorescent lighting), installation (retrofit, and new installation), spectrum (full-spectrum, and partial spectrum), application (turf and landscaping, vertical farming, indoor farming, and greenhouse)) provides complete and deep insights into the market dynamics and growth of grow light. Latest information on market risks, industry chain structure grow light cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential grow light growth factors. According to the report, the global grow light market is projected to grow at a CAGR of 9.3% over the forecast period of 2019-2025.
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The grow light is an artificial source of light that emits an electromagnetic spectrum for photosynthesis in order to stimulate plant growth. It is a basic electronic lamp which is designed to accelerate plant growth by the electromagnetic spectrum. The key players in the global growth market are Hortilux Schreder B.V., General Electric Company, Royal Philips, Platinum LED Lights LLC, Osram LichtAG, Gavita Holland B.V, Sunlight Supply, Inc., Heliospectra AB, LumiGrow, Inc., and others. The continuous development of the grow light related technology is heling too grow this market.
LumiGrow Inc. introduced new product Pro Series E
In January 2017 LumiGrow Inc. introduced its new product Pro Series E Horticultural lighting solution with cloud-based wireless control. Further, the light of this device can be managed easily from tablets, computer, and smartphones with the help of SmartPAR wireless control system.
Hortilux launched a new digital platform called HORTISENSE
In January 2017, Hortilux launched a new digital platform called HORTISENSE. It is a digital platform which safeguards and monitors various grow light processes in the greenhouse through the use of PLCs and sensors. It increases the efficiency of grow light installation. The HORTISENSE software application facilitates the interpretation of the data and helps the cultivators to receive information during plant growth through any devices such as computers and smartphones.
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The rising demand for energy-efficient products which are environmentally safe and simultaneously growing trend of indoor farming and government initiatives for the adoption of new technologies such as LED are helping to grow the demand of the grow light products around the world.
Furthermore, the less power consumption, increasing demand for greenhouse practices are helping to boost the market of grow light products. However low consumer awareness and high cost are the major restraint factors for the growth of grow light market in the near future.
The global grow light market is segmented on the basis of technology, installation, spectrum, and application. Based on technology the market is bifurcated into high-intensity discharge, led, and fluorescent lighting. On the basis of installation, it includes retrofit and new installation. On the basis of spectrum, it is further segmented into the full-spectrum and partial spectrum. The grow light market on the basis of application includes turf and landscaping, vertical farming, indoor farming, and greenhouse.
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The Asia Pacific is estimated to account the largest share in grow light market, owing to the growing demand of the grow light products in the greenhouse farming and indoor farming. Further, the growing trend of commercial farming and the increasing number of commercial livestock farms are helping to grow the demand of the grow light market in the Asia-Pacific region. Furthermore, focus on the development and growth of the livestock population by farmers and the adoption of advanced technologies for farms are helping to grow the demand for the light market in this region.
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Grow Light.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.