Light-emitting Diode (LED) Grow Lights Market- Roadmap for Recovery from COVID-19|Growth In Indoor Farming to Boost the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the light-emitting diode (LED) grow lights market and it is poised to grow by USD 3.53 bn during 2020-2024, progressing at a CAGR of over 25% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

Frequently Asked Questions:

• What are the major trends in the market?
  Use of artificial intelligence in LED grow lights is a major trend driving the growth of the market.
• At what rate is the market projected to grow?
  The year-over-year growth for 2020 is estimated at 21.00% and the incremental growth of the market is anticipated to be $ 3.53 bn.
• Who are the top players in the market?
  Advanced LED Grow Lights, Cree Inc., General Electric Co., GNUK Ltd., Heliospectra AB, Illumitex Inc., LumiGrow Inc., OSRAM Licht AG, Senmatic AS, and Signify NV, are some of the major market participants.
• What is the key market driver?
  The growth in indoor farming is one of the major factors driving the market.
• How big is the Europe market?
  The Europe region will contribute 40% of the market share.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advanced LED Grow Lights, Cree Inc., General Electric Co., GNUK Ltd., Heliospectra AB, Illumitex Inc., LumiGrow Inc., OSRAM Licht AG, Senmatic AS, and Signify NV are some of the major market participants. The growth in indoor farming will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Light-emitting Diode (LED) Grow Lights Market 2020-2024: Segmentation

Light-emitting Diode (LED) Grow Lights Market is segmented as below:

• Application
  • Commercial Greenhouses
  • Vertical Farming
  • Others
• Geographic Landscape
  • APAC
  • Europe
  • MEA
  • North America
  • South America

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Light-emitting Diode (LED) Grow Lights Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The light-emitting diode (LED) grow lights market report covers the following areas:

• Light-emitting Diode (LED) Grow Lights Market Size
• Light-emitting Diode (LED) Grow Lights Market Trends
• Light-emitting Diode (LED) Grow Lights Market Industry Analysis

This study identifies the use of artificial intelligence in LED grow lights as one of the prime reasons driving the light-emitting diode (LED) grow lights market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Light-emitting Diode (LED) Grow Lights Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist light-emitting diode (LED) grow lights market growth during the next five years
• Estimation of the light-emitting diode (LED) grow lights market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the light-emitting diode (LED) grow lights market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of light-emitting diode (LED) grow lights market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• Preface
• Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis
• Value chain analysis

PART 04: MARKET SIZING

• Market definition
• Market size
• Market sizing 2019
• Market outlook
• Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

• Market segmentation by application
• Comparison by application
• Commercial greenhouses - Market size and forecast 2019-2024
• Vertical farming - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 09: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 10: MARKET TRENDS

• Growing strategic alliances with end-users
• Use of LED grow lights in suppression of plant diseases
• Use of artificial intelligence in LED grow lights

PART 11: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 12: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Advanced LED Grow Lights
• Cree Inc.
• General Electric Co.
• GNUK Ltd.
• Heliospectra AB
• Illumitex Inc.
• LumiGrow Inc.
• OSRAM Licht AG
• Senmatic AS
• Signify NV

PART 13: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 14: EXPLORE TECHNAVIO

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