LED grow light or plant light is an artificial light used to stimulate the process of photosynthesis in plants. The electromagnetic spectrum of LED grow light are similar to the sun or the spectrum is designed accordingly to meet the electromagnetic spectrum need of the particular plant. Controlled environment is created for the growth of the plant with varying color, temperature, spectral output, and intensity of LED glow light. LED grow lights are widely used to where there is limited availability of sunlight or where supplementary light is required to grow plants.
MARKET DYNAMICS
The global LED grow light market is deemed to flourish in the forecast period because of driving factors like indoor farming, commercial farming, government initiatives to adopt solid-state lighting technologies across various regions, increase in adaptation of automation in farming to maximize yield using LED grow light and high proliferation in vertical farming. However, lack of awareness and high cost of capital are hindering the growth of LED glow light market. The farming industry is witness to see rapid growth due to high reliability and low power consumption of LED grow light which is creating new opportunities for LED grow light market.
MARKET SCOPE
The "Global LED grow light Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global Market trend analysis. The report aims to provide an overview of LED Grow Light Market with detailed Market segmentation by technology, installation, application, voltage type, spectrum and geography. The global LED Grow Light Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the leading LED Grow Light Market players and offers key trends and opportunities in the Market.
MARKET SEGMENTATION
The LED Grow Light Market is segmented on the basis of technology, installation, application, voltage type and spectrum. Based on technology, the Market is segmented as fluorescent lighting, high-intensity discharge, LED and Others. On the basis of the installation the Market is segmented into new installation and retrofit. On the basis of application model, the Market is segmented into, indoor farming, turf and landscaping, vertical farming, commercial greenhouse, research and others. On the basis of the voltage type the Market is segmented into high voltage and low voltage. On the basis of the spectrum the Market is segmented into Laser partial spectrum and Full spectrum.
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REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global LED Grow Light Market based on various segments. It also provides Market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The LED Grow Light Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting LED Grow Light Market from both demand and supply side and further evaluates Market dynamics effecting the Market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the LED Grow Light Market in these regions.
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MARKET PLAYERSThe reports cover key developments in the LED Grow Light Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the Market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of Market players. The Market payers from LED Grow Light Market are anticipated to lucrative growth opportunities in the future with the rising demand for LED Grow Light in the global Market. Below mentioned is the list of few companies engaged in the LED Grow Light Market.
The report also includes the profiles of key LED Grow Light companies along with their SWOT analysis and Market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
-Alta LED Corporation
-Bridgelux, Inc.
-Cree, Inc.
-Everlight Electronics Co. Ltd.
-General Electric Company
-Heliospectra AB
-Illumitex, Inc.
-Lumigrow, Inc.
-Osram Licht AG
-Royal Philips Electronics N.V.
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