Horticulture Lighting Market is expected to register a CAGR of 17.49% during the forecast period
Horticulture
Lighting is increasing due to growing demand for indoor vertical farming
solutions. in the forecast period, 2024-2028.
According to
TechSci Research report, “Global Horticulture Lighting Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028
Global Horticulture Lighting market has witnessed
tremendous growth in recent years, reaching a valuation of USD 6.19billion in
2022. The market is projected to continue its strong upward trajectory, posting
a CAGR of 17.49% from 2024 to 2028. The global Horticulture Lighting Market has witnessed
substantial growth globally over the past decade, driven by widespread adoption
across diverse industries. Key sectors, including consumer electronics,
automotive, healthcare, and industrial manufacturing, have recognized the
pivotal role of Horticulture Lighting solutions in developing precision systems
for applications such as augmented reality, virtual reality, heads-up displays,
surgical microscopes, and industrial inspection processes. Organizations have made
significant investments in advanced Horticulture Lighting technologies to meet
rigorous analytical requirements and enhance overall work performance. Leading
providers in the industry have introduced innovative solutions with enhanced
capabilities, including wireless connectivity, real-time data visualization,
and scalable data infrastructure. These technological advancements empower
automated processes, facilitate the generation of strategic insights, and
enable effective performance monitoring.
Businesses globally actively
engage in collaborations with specialists to tailor Horticulture Lighting
solutions to their unique product development and analytical needs. These
customized solutions find applications in diverse areas, ranging from augmented
reality devices, virtual reality headsets, heads-up displays for vehicles,
medical imaging equipment, to industrial inspection tools. Advanced
Horticulture Lighting platforms provide crucial capabilities that support
evidence-based research and product development.
Moreover, the integration of
emerging technologies such as artificial intelligence, machine learning, and
the Internet of Things further fuels the demand for Horticulture Lighting
solutions. Businesses are increasingly leveraging these technologies to enhance
key metrics related to user experience, work productivity, and overall
outcomes. The seamless integration of emerging technologies with Horticulture
Lighting solutions promises to deliver improved insights, higher efficiency,
and data-driven decisions within the global Horticulture Lighting industry,
shaping the landscape of technological advancements and applications across
various sectors.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Global Horticulture Lighting Market.”
The global Horticulture
Lighting Market has undergone significant growth, marked by its segmentation
into distinct product types, spectrum categories, and diverse end-user
applications. Among the product types, LED Grow Lights have emerged as the
dominant segment, capturing a substantial market share owing to their energy
efficiency, customizable spectral output, and long operational lifespan. Within
the spectrum classification, the High-Power Horticulture Lightings segment has
exhibited supremacy, leveraging its robust output and versatility to cater to
the diverse needs of modern horticulture. As for end-user applications,
Commercial Greenhouses have represented the largest segment, fueled by the
increasing adoption of controlled environment agriculture for consistent and
efficient crop cultivation. The market has also witnessed remarkable growth in
Vertical Farms, driven by the global trend towards urban agriculture and the
need for year-round, locally sourced produce. Research & Educational
Institutes form another pivotal end-user category, contributing to market
growth through the exploration of innovative horticultural practices and the
advancement of lighting technologies. The Horticulture Lighting Market
continues to evolve, with LED Grow Lights, High-Power Horticulture Lightings,
Commercial Greenhouses, and Vertical Farms standing out as dominant segments.
Furthermore, the fastest-growing segments include emerging applications in
research and educational institutes, as well as the adoption of advanced
lighting solutions in diverse horticultural settings. As the industry embraces
precision agriculture and sustainable cultivation practices, the global
Horticulture Lighting Market is poised for sustained expansion, propelled by
advancements in lighting technologies and a growing emphasis on year-round,
efficient crop production.
Major companies operating in Global Horticulture
Lighting Market are:
- Signify N.V
- Lumileds Holding B.V
- CURRENT, POWERED BY GE
- GAVITA B.V
- Lumileds Holding B.V
- Heliospectra AB
- Hortilux Schréde
- Illumitex Inc
- Urban Crop Solutions
- SafeAgrotech
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“In the last
decade, the Horticulture Lighting market has experienced significant global
expansion, driven by its widespread integration across diverse industries.
Recognizing the crucial role of Horticulture Lighting solutions in developing
precise systems for applications such as augmented reality, virtual reality,
heads-up displays, surgical microscopes, and industrial inspection processes,
key sectors like consumer electronics, automotive, healthcare, and industrial
manufacturing have actively embraced these technologies. This heightened
recognition has prompted organizations to allocate substantial investments in
advanced Horticulture Lighting technologies, aiming to meet stringent
analytical demands and enhance overall work performance. Industry leaders have
responded by introducing innovative solutions with enhanced capabilities,
including wireless connectivity, real-time data visualization, and scalable
data infrastructure, facilitating automated processes, strategic insights
generation, and continuous performance monitoring.
Globally,
businesses are fostering a collaborative spirit, actively engaging with
specialists to co-create customized Horticulture Lighting solutions tailored to
their unique product development and analytical requirements. These bespoke
solutions find applications across diverse realms, spanning augmented reality
devices, virtual reality headsets, heads-up displays for vehicles, medical
imaging equipment, and industrial inspection tools. The advanced platforms
offered by Horticulture Lighting technologies play a pivotal role in supporting
evidence-based research and product development initiatives.
The contemporary
landscape of the Horticulture Lighting market is further shaped by the
accelerating demand driven by emerging technologies, including artificial
intelligence, machine learning, and the Internet of Things. Businesses
strategically leverage these technologies to enhance critical metrics such as
user experience, work productivity, and overall outcomes. The integration of
these cutting-edge technologies with Horticulture Lighting solutions holds the
promise of not only delivering improved insights but also ensuring higher
operational efficiency and fostering data-driven decision-making practices
within the global Horticulture Lighting industry.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Horticulture
Lighting Market by Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028, Horticulture Lighting Market, Segmented By Product Type (LED Grow Lights, High-Intensity Discharge (HID) Lights. Fluorescent
Lights, Others), By Spectrum (Low-Power Horticulture Lightings, Medium-Power Horticulture
Lightings, High-Power Horticulture Lightings), By End User (Commercial
Greenhouses, Vertical Farms, Research & Educational Institutes, Others) By
Region, By Competition”, has evaluated the future growth potential of Global
Horticulture Lighting Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Horticulture
Lighting Market.
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