What is Plants LED Grow Light Market?
Plants LED grow light is an artificial light source designed to stimulate plant growth by emitting a light appropriate for photosynthesis. It typically uses a combination of blue and red LEDs because plants perform photosynthesis most effectively in the blue and red part of the spectrum. LED grow lights are the lighting of the future of agriculture. They are becoming increasingly popular for urban farming because of the significant benefits of LED lighting technology for sustainable urban agricultural practices.
The market study is being classified by Type (High Power and Low Power), by Application (Commercial Greenhouses, Indoor Grow Facilities and Research Applications) and major geographies with country level break-up.
Philips (Netherlands), Osram (Germany), GE Lighting (United States), Illumitex (United States), California LightWorks (United States), Spectrum King LED (United States), Valoya (Finland), Kessil Lighting (United States), Heliospectra (Sweden) and Epistar Corp. (Taiwan) are some of the key players profiled in the study.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Plants LED Grow Light market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Plants LED Grow Light market by Type, Application and Region.
On the basis of geography, the market of Plants LED Grow Light has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rise in the Urban Agriculture
- Increasing Popularity of Indoor Farming
- Growing Environmental Concerns
Market Trend
- Development in the Innovative Farming Practices
Restraints
- High Set-Up and Maintenance Cost
Opportunities
- Growing Urbanization and Modern Infrastructural Needs
- Increasing Number of Plant Factories
Challenges
- Lack of Awareness about Plants LED Grow Lights
Key Target Audience
Plants LED Grow Light Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user