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Horticulture Lighting Market Growth Statistics 2021 Industry Demand, Share Evaluation, Players Strategies, Size, SWOT Analysis, Forthcoming s, Upcoming Investments and Forecast 2027

Horticulture Lighting market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Horticulture Lighting market by region.

The Horticulture Lighting Market is projected to grow at 19.17% CAGR, witnessing significant growth during the forecast period. The market was valued at USD 2476.5 Million in the year 2018; it is projected to reach USD 7040.0 Million by the year 2024.

Horticulture is a branch of plant agriculture that deals with garden crops such as fruits, vegetables, and ornamental plants Horticulture lighting is an artificial light source which is used to make it easier for photosynthesis. This process is very significant in areas where there is a lack of proper sunlight.

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Lack of sunlight or any other source of light required for photosynthesis makes the plants weak and incapable to grow. Europe is responsible for the major market value of USD 797.8 Million in the year 2018; the market is expected to register a CAGR of 18.58% during the forecast period.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

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Major Players
Gavita (Netherlands), GE Lighting (US), Heliospectra (Sweden), Hortilux Schreder (Netherlands), Lumileds (Netherlands), PARsource (US), and Illumitex (US), Signify (Philips Lighting) (Netherlands), Osram (Germany), Agrolux (Netherlands) are some of main players in Global Horticulture Lighting Market.

Market Segmentation
Based on technology, the market has been categorized as fluorescent lighting, high-intensity discharge, LED, others. The high-intensity discharge segment accounted for the larger market share in the year 2018, with a market value of USD 904.7 Million during the forecast period. The fluorescent lamps constitute the second-largest segment.

Fluorescent lighting is a technology that depends on a chemical reaction inside a glass tube for creating light. High-intensity discharge (HID) is a type of gas-discharge lighting method that uses electrical current sent across two electrodes within plasma or ionized gas. LED is a highly energy-efficient lighting technology and has the potential to fundamentally change the future of lighting. Rapid population growth and availability of limited arable land, government investments, and initiatives and an increased year-round high-quality yield are factors that are expected to lead horticulture lighting market during the forecast period.

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However, high capital cost associated with LED grow light technologies is expected to limit the market growth during the forecast period. Further, the adoption of vertical and indoor farming can offer a number of opportunities for the global horticulture lighting market during the forecast period.

By Technology

Fluorescent Lighting, High Intensity Discharge, LED, Others

By Lighting Type

Top lighting, Interlighting

By Cultivation

Fruits & Vegetables, Floriculture

By Application

Greenhouse, Vertical Farming, Indoor Farming, Others

Regional Analysis
Geographically, the Global Horticulture Lighting Market, has been split into regions like Asia-Pacific, North America, Europe, Middle East & Africa, and South America. Europe is projected to take over the horticulture lighting market during the forecast period due to the growth in city farming along with the advancement in technology.

TABLES OF CONTENTS

EXECUTIVE SUMMARY, MARKET INTRODUCTION, RESEARCH METHODOLOGY, MARKET DYNAMICS, MARKET FACTOR ANALYSIS, COMPETITIVE LANDSCAPE, COMPANY PROFILES .

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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Updated : 2022-05-18 10:58 GMT+08:00