Horticultural Lighting: Introduction

  • Horticulture is a branch of agriculture that deals with plants, garden crops, fruits, vegetables, and ornamental plants. Horticulture lighting is an artificial light source used to facilitate photosynthesis.
  • Horticultural lighting is segmented based on offering, technology, lighting type, cultivation, applications, and region.
  • Horticultural lighting is designed for various applications such as greenhouses, vertical farming, and indoor farming
  • Changing climate and increasing population across the world is generating additional demand for food, which is difficult to be met only through conventional farming. Rising awareness about indoor farming, and government initiatives to support the adoption of energy-efficient LEDs in horticulture is expected to boost the global horticultural lighting market throughout the forecast period.

Rise in Demand for LED Lights

  • In terms of technology, the LED lights segment is likely to see the fastest growth in the global horticultural lighting market throughout the forecast period due to the rise in demand for LED lights for horticultural lighting.
  • LED lights segment is anticipated to dominate the global horticultural lighting market throughout the forecast period due to the unique properties of LED lights. These lights are energy-efficient, produce low heat, are compact, have a huge life span of up to 50,000 hours, provide cool operation, and have the capability to customize the spectral output to emit the specific wavelengths which are usable by plants.
  • Moreover, LED technology is gaining popularity in the horticultural sector due to NASA, which is continuously working on plant-growth experiments under LED lighting.
  • In June 2019, the leading lighting company Signify, launched Philips Green Power LED top lighting compact, which provides a replacement for HPS lighting that fits seamlessly in existing HPS set-ups and trellis constructions.
  • In July 2019, Osram Licht AG launched a horticulture LED line with broader white and purple spectra. This purple LED delivers red and blue spectral energy conductive to photosynthesis.
  • The high cost of energy-efficient LED lights, the need for various light spectrums for certain crop varieties, and the feasibility of cultivating a limited number of crop species are the restraining factors of the horticultural lighting market. However, retrofitting traditional lighting sources with LED grow lights and rising awareness about vertical and indoor farming creates lucrative opportunities for key players of the horticultural lighting market.

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Europe to Lead the Horticultural Lighting Market

  • In terms of region, the global horticultural lighting market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • Europe is anticipated to dominate the global horticultural lighting market throughout the forecast period due to growth in city farming along with advancement in technology, and rise in the number of food suppliers and farm start-ups.
  • Moreover, European countries provide subsidies to spur the local demand, promoting plant factories. Additionally, the European Union's initiatives to encourage the adoption of horticulture lights are expected to create more opportunities for the horticultural lighting market.
  • The second fastest growth of the global horticultural lighting market is seen in Asia Pacific due to a rise in awareness regarding the importance of steady supply of crops and unfavorable weather conditions across developing countries of the region such as China and India.
  • The horticultural lighting market in North America is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.

Key Players Operating in the Global Horticultural Lighting Market

The global horticultural lighting market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancement and expansion to meet the rising demand for horticultural lighting. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative products.

Key players operating in the global horticultural lighting market include:

  • Signify
  • Gavita Holland B.V.
  • GE Lighting
  • Osram Licht AG
  • Agrolux
  • Heliospectra
  • Hortilux Schreder
  • Lumileds Holding B.V.
  • PARsource
  • Illumitex
  • Hubbell Incorporated
  • Bridgelux, Inc.
  • Eye Hortilux
  • LumiGrow, Inc.

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Global Horticultural Lighting Market: Research Scope

Global Horticultural Lighting Market, by Offering

  • Hardware
  • Software & Services

Global Horticultural Lighting Market, by Technology

  • LED Lights
  • High-pressure Sodium Lamps
  • High-intensity Discharge (HID) Lights
  • Fluorescent Lights
  • CFL Lights
  • Others

Global Horticultural Lighting Market, by Lighting Type

  • Top lighting
  • Inter lighting

Global Horticultural Lighting Market, by Cultivation

  • Fruits & Vegetables
  • Floriculture

Global Horticultural Lighting Market, by Application

  • Greenhouses
  • Vertical Farming
  • Indoor Farming
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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