LED Agricultural Grow Lights Market: Introduction
- Growing demand for urban farming has led to increased usage of LED agricultural grow lights. The grow lights are an artificial light source used to stimulate the growth of plants for indoor cultivation. The tree types of grow lights available in the market include fluorescent grow lights, LED grow lights, and high-pressure sodium grow lights. LED grow lights are more energy efficient than the other two types. These grow lights are also known as plant lights. Growth of vertical and indoor farming is expected to fuel the LED agricultural grow lights market across the globe.
Growth in Agricultural Industry Expected to Fuel the Global LED Agricultural Grow Lights Market
- Light emitting diode bulbs are energy saving alternatives to other light sources. These days, people are increasingly inclined toward vertical and indoor farming where the use of LED agricultural grow lights is growing considerably. Growth of urban farming is expected to lead to increased usage of LED grow lights. People are currently more focused on technology driven objects. Growing demand for fresh and nutritious vegetables has fueled the indoor farming sector which is expected to boost the LED agricultural grow lights market. The market is likely to expand significantly due to major growth of the agricultural industry.
Rising Usage in the Poultry Sector to Drive the LED Agricultural Grow Lights Market
- Lights plays a major role in production in poultry farming. Poultry farmers use the LED lights for better growth of the chicken. Chicken raised using LED grow lights are found to produce higher quality and quantity of eggs. Though LED grow lights are costlier, they offer better performance than other grow lights. Many urban farmers are seeking energy efficient lights for farming. This is likely to fuel the LED agricultural grow lights market globally.
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Asia Pacific to Lead the Global LED Agricultural Grow Lights Market
- In terms of region, the global LED agricultural grow lights market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
- Europe includes country-level analysis for U.K., Germany, France, and Rest of Europe. North America includes Canada, U.S., and Rest of North America. The South America LED agricultural grow lights market is segmented into Brazil, and Rest of South America. Analysis and forecast of the LED agricultural grow lights market in Asia Pacific features India, China, Japan, and Rest of Asia Pacific. Middle East & Africa covers the LED agricultural grow lights market analysis for GCC countries, South Africa, and Rest of Middle East & Africa.
- The market in Asia Pacific is likely to witness the maximum demand for LED agricultural grow lights from 2019 to 2027 followed by North America.
- Leading manufacturers of LED agricultural grow lights have extensive distribution networks along with deep product penetration. Manufacturers are focusing on innovation in their product portfolio and manufacturing agricultural grow lights which can be used for longer duration with more innovations.
Key Manufacturers Operating in the Market
The global LED agricultural grow lights market is highly fragmented. Key manufacturers operating in the global market are:
- General Electric Company
- Signify Holding
- Illumitex Inc
- Agrilight BV
- Lumileds Holding B.V
- LumiGrow Inc.
- Fluence By OSRAM
- Heliospectra AB
- Gavita International B.V.
- Hawthorne Gardening Company
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Global LED Agricultural Grow Lights Market: Research Scope
Global LED Agricultural Grow Lights Market, by Type
- Non – dimmable
Global LED Agricultural Grow Lights Market, by Power
- Less than 250 watt
- 250 – 500 watt
- More than 500 watt
Global LED Agricultural Grow Lights Market, by Distribution Channel
Global LED Agricultural Grow Lights Market, by Application
- Commercial Greenhouse
- Indoor and Vertical Farming
- Research Laboratories
- Others (Turf & Landscaping, Aquaculture, etc.)
Global LED Agricultural Grow Lights Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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
- 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.
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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.