IMARC Group provides comprehensive market intelligence and analysis for various organizations. The company’s expertise includes market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods. IMARC’s offerings include research reports, production cost reports, feasibility studies, and consulting services, provided by experienced researchers and analysts from different industries. The company serves clients ranging from small and medium businesses to Fortune 1000 corporations. IMARC Group’s competitive landscape analysis and segmentation report on the global grow light market includes profiles of the key players in the market, categorized based on technology, installation type, spectrum, application, and region. The report also includes market trends, drivers, and success factors, along with SWOT and value chain analysis.
Grow Light Market Growth, Size and Forecast 2027 | Analysis by Technology- HID, LED, Fluorescent.
The global grow light market reached US$ 3.58 Billion in 2021 and is expected to reach US$ 6.99 Billion by 2027, exhibiting a CAGR of 12% during 2022-2027, according to IMARC Group’s latest report titled “Grow Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“. A grow light is an artificial light source used to stimulate plant growth by providing the necessary light spectrum and intensity in indoor gardening or greenhouse environments where natural sunlight may not be readily available or sufficient.
Grow lights come in different types, such as LED, fluorescent, and high-intensity discharge (HID) lamps, each producing a different spectrum of light tailored to the specific needs of different plants. Indoor growers use grow lights as an essential tool to mimic natural sunlight and promote healthy plant growth and development.
The market is driven by the increasing demand for indoor farming and urban agriculture globally, the rising awareness of the benefits of LED grow lights for plant growth, and the energy efficiency associated with their usage. In addition to this, the widespread adoption of vertical farming techniques and the increasing need for specialized lighting solutions are boosting market growth. Furthermore, a focus on sustainable and organic farming practices, along with significant technological advancements and innovations, creates a positive outlook for the market.
IMARC Group’s report provides a comprehensive analysis of the grow light market, including the current market size, trends, and forecasts for the period from 2022-2027. The report also offers a detailed analysis of the market based on technology, including HID, LED, and fluorescent, along with an overview of the competitive landscape and key players’ profiles.
To receive the latest research data covering the period from 2023 to 2028, along with industry trends, market size, and competitive analysis, interested parties can click on the request sample report. The team will deliver the latest version of the report promptly. To purchase the report, interested parties can visit the checkout page.
Grow Light Market Competitive Analysis and Segmentation
The global grow light market has been analyzed in detail in the latest report by IMARC Group. The report includes a comprehensive analysis of the market performance during the period 2016-2021 and a market outlook for 2022-2027. The report highlights the market trends, drivers, and success factors, along with SWOT and value chain analysis. The report also provides a detailed analysis of the competitive landscape and profiles of the key players in the market.
Competitive Landscape with Key Players:
The report includes a comprehensive analysis of the competitive landscape of the global grow light market. The profiles of the key players in the market are also included in the report. Some of the key players in the market are Epistar, Everlight Electronics, Gavita International B.V., General Electric Company, Heliospectra AB, Illumitex Inc., Koninklijke Philips N.V., LumiGrow, Osram Licht AG, and Shenzhen Juson Technology Co. Ltd.
Key Market Segmentation:
The report has segmented the market based on technology, installation type, spectrum, application, and region.
Breakup by Technology:
The market has been categorized based on technology as HID, LED, and fluorescent.
Breakup by Installation Type:
The installation type has been segmented into new installations and retrofit installations.
Breakup by Spectrum:
The spectrum has been categorized as full-spectrum and partial spectrum.
Breakup by Application:
The application has been segmented into indoor farming, vertical farming, commercial greenhouse, turf and landscaping, and others.
Breakup by Region:
The market has been segmented based on region as North America (United States, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Others), Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others), Latin America (Brazil, Mexico, Others), and Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others).
Key Highlights of The Report:
The report offers a comprehensive analysis of the global grow light market, including the market performance during the period 2016-2021 and a market outlook for 2022-2027. The report also includes market trends, drivers, and success factors, along with SWOT and value chain analysis. The report provides a detailed analysis of the competitive landscape and profiles of the key players in the market.
Interested parties can request customization of the report or explore the full report with TOC & List of Figures by clicking on the provided link. IMARC Group is a leading market research company that offers management strategy and market research worldwide. The company partners with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group provides market intelligence on major market, scientific, economic, and technological developments for business leaders in various organizations. The company’s expertise includes market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods. IMARC’s offerings include research reports, production cost reports, feasibility studies, and consulting services, provided by experienced researchers and analysts from different industries. The company serves clients ranging from small and medium businesses to Fortune 1000 corporations. To contact IMARC Group, interested parties can reach out to Elena Anderson, the company’s contact person, via email, phone, or through the provided website.
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