DUBLIN--(BUSINESS WIRE)--The "Global LED Grow Lights Market, Analysis & Forecast - 2017 to 2021: Focus on Power Consumption (Low Power and High Power), Spectrum (Partial and Full), and Application (Commercial Greenhouse, Indoor Farming, Vertical Farming, and Turf & Landscaping)" report has been added to Research and Markets' offering.
LED Market is Expected to Grow at a CAGR of 28.9%
The growth is attributed to the increase in demand for food which leads to the need for increasing farm yields. LED grow light applications provide a solution to the problems faced during conventional farming.
The concept of LED grow lights market revolves around the major applications which include commercial greenhouses, vertical farming, indoor farming, turf and landscaping, and others (research). The market can also be classified on basis of the power consumed by LED grow lights. They can either be low power (<300W) or high power (>=300W). Further, the LED grow lights market can also be classified on the basis of spectrum type. They can either be partial or full spectrum.
The trends of the LED grow lights market varies with different geographical regions. The LED grow lights market holds a prominent share in various countries of Asia-Pacific (APAC), North America, Europe, South America, and Middle East and Africa. The competitive landscape for the LED grow lights market demonstrates an inclination towards companies adopting strategies such as business expansion and product launch and development. The major established players in the market, are focusing more on business expansion to keep a strong hold on the market.
Heliospectra, Philips Lighting, and Illumitex are few of the major industry players that have adopted this strategy to grow their business. These companies expanded their business in different countries to expand their customer base in the market.
The need for more R&D and appropriate regulatory environments is a prerequisite for sustained growth of this market. Various government and private research institutes, and regulatory bodies and associations are putting in substantial efforts to identifying how LED grow lights can be important for required food production. The need for sophisticated farming techniques is necessary to fulfill the increasing demand for food. LED grow lights not only makes farming more productive, it also helps in developing the agriculture and farming sectors in highly urban countries.
Farmers need to step up in order to improve the yields and suffice the growing demand. LED grow lights play a major role in doing so. The improving technologies for LED grow lights are expected to reduce their prices. Moreover, the software integration through portable devices can develop further which provides a good growth opportunity for the LED grow lights market.
Key Topics Covered:
Executive Summary
1 Report Scope & Methodology
2 Market Dynamics
3 Competitive Landscape
4 Industry Analysis
5 Global LED Grow Lights Market by Power Consumption
6 Global LED Grow Lights Market by Spectrum
7 Global LED Grow Lights Market by Application
8 Global LED Grow Lights Market by Region
9 Company Profiles
- Advanced LED Lights
- California LightWorks
- Cirrus Systems, Inc.
- Cree, Inc.
- Everlight Electronics Co. Ltd
- General Electric
- Heliospectra AB
- High Power 4s
- Illumitex
- Lumigrow
- OSRAM Licht AG
- Philips Lighting
- Platinum LED Lights LLC
- Pro Max Grow
For more information about this report visit https://www.researchandmarkets.com/research/x9mh6h/global_led_grow
