LONDON--(BUSINESS WIRE)--The LED grow lights market is expected to register a CAGR of over 25% during 2020-2024, as per the latest research report by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
Request for Technavio’s market report estimates including pre- and post-COVID-19 impact on LED grow lights market. Download a Free Sample Report on the impact of COVID-19 pandemic analysis.
Due to the extensive spread of the virus across the globe, the Information Technology industry is anticipated to have Mixed impact. The LED grow lights market will showcase Negative impact during 2020-2024.
LED grow lights Market 2020-2024: Segmentation
LED grow lights Market is segmented as below:
- Commercial Greenhouses
- Vertical Farming
- North America
- South America
Europe was the largest market for LED grow lights in 2019 and the region will offer several growth opportunities to market vendors during the forecast period. The harsh winters and insufficient sunlight in various parts of Europe have created the need for LED grow lights for indoor farming. Many start-ups such as Agricool carry out container farming, which involves the use of LED grow lights. These factors are contributing to the growth of the LED grow lights market size in Europe.
The Information Technology market is anticipated to have Direct impact and the LED grow lights market demand will show At Par growth. View market snapshot before purchasing
Use of artificial intelligence in LED grow lights has been an instrumental factor in influencing the growth of LED grow lights market. Other market drivers include growth in indoor farming. Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, base case and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID 19 market estimates
- Quarterly impact analysis as the spread reaches a global level and updates on market estimates
Get more insights about the global trends impacting the future of LED grow lights market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR40110
LED grow lights Market 2020-2024: Vendor Analysis
The market is highly fragmented, and the degree of fragmentation will accelerate during the forecast period. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. Major market participants include 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.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 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
- 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
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.