As per current published report by Markntel Advisors the Horticulture Lighting Market is estimated to grow at a CAGR of around 16.22% during the forecast period, i.e., 2024-30. A detailed discussion of industry behavior is presented. It will assist companies and other stakeholders in making decisions that assure strong earnings in the upcoming years, and also describes the future trend. In order to assist readers in making defensible choices on market projects, this research will offer a useful summary of the market and its dynamic environment. The growth prospects that will enable the market to extend its operations in current markets will be the main focus of this analysis.
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Global Horticulture Lighting Market Key Driver:
Widespread Adoption of Horticulture Lighting in Numerous Agricultural Applications - The increased deployment of horticulture lighting in numerous agricultural applications, including urban farming, supplemental lighting, cultivation without daylight, and multilayer cultivation, provides the necessary impetus to the market for the projected timeframe. Further, the growing vertical farming applications and greenhouse projects enthrall the market. Additionally, the population boom for the past few years, instigating the farmers to go indoors and utilize every bit of resource to cater to the up-scaling needs, further propels the market through 2030.
The Horticulture Lighting Market has segmented the market into the following categories:
By Application
(Indoor Farming, Greenhouse, Vertical Farming),
By Technology
(High-Intensity Discharge (HID) (LED, High-Pressure Sodium Lamp), Fluorescent (T5, CFL)),
By Offering
(Hardware, Software, Services),
By Cultivation
(Vegetable, Fruits, Floriculture, Others (Medicinal plants, Aromatic, etc.)),
By Lighting Type
(Top lighting, Inter lighting, Supplemental Lighting, Sole-Source Lighting, Photoperiodic Lighting)
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Environment Featuring Key Players:
Bridgelux Inc., EYE Hortilux, Maxigrow Ltd, Hortilux Schreder, Osram Licht AG, Gavita International BV, Lumileds, Agrolux, PARsource, Heliospectra, Signify, Valoya, California Lightworks, LumiGrow, EYE Hortilux, Others
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-Market segmentation based on both economic and non-economic characteristics, analyzed both qualitatively and quantitatively
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-Identifies the area and market segment that are anticipated to expand at the quickest rate and to hold the majority of shares.
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-A geographical analysis that shows how the product or service is used in each area and what factors are influencing the market in that particular area
-Comprehensive company profiles for the main market players that include a company overview, company insights, product benchmarking, and SWOT analysis
-The present and projected market outlook in light of recent changes, which include growth prospects and drivers as well as obstacles and constraints in both developed and emerging regions
-Using Porter's Five Forces approach, provides a thorough examination of the market from a variety of angles.
-Uses the value chain to offer market intelligence.
-The state of the market dynamics and potential for future market expansion
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