Global LED Grow Light Market Segments 2024, Forecast To 2033
5 Mar, 2024
The LED grow light market has witnessed exponential growth, increasing from $3.1 billion in 2023 to $3.92 billion in 2024, with a 26.1% CAGR. The growth is attributed to cost reduction, availability, research, education, regulatory support, incentives, and urban agriculture trends. Expecting continued exponential growth, the market is projected to reach $10.12 billion in 2028 with a 26.8% CAGR, driven by consumer awareness, market globalization, new crops, R&D investments, sustainable agriculture, and indoor farming expansion. Major trends include market diversification, spectral control, modular designs, efficiency advancements, smart lighting, and urban agriculture.
Global LED Grow Light Market Key Driver
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Get A Free Sample Of The Global LED Grow Light Market ReportGlobal LED Grow Light Market Segments
The led grow light market covered in this report is segmented –
1) By Spectrum: Narrow, Broad
2) By Wattage: Low Power (<100 W), Medium Power (100–300 W), High Power (>300 W)
3) By Installation Type: New Installation, Retrofit
4) By Application: Indoor Farming, Commercial Greenhouse, Vertical Farming, Turf And Landscaping, Research, Other Applications
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the LED grow light market in 2023. The regions covered in the led grow light market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major LED Grow Light Industry Players
Illumitex Inc.; OSRAM Licht AG; LumiGrow Inc.; Heliospectra AB; Bridgelux Inc.; General Electric Company; Samsung Electronics Co Ltd.; Senmatic A/S; Shenzhen Grow LED Technology Co. Ltd.; Signify NV; SMART Global Holdings Inc.; Valoya Ltd.; Violet Gro Inc.; Cidly Co Ltd.; Kessil Lighting; Kind LED Grow Lights; LED Hydroponic Ltd.; GSK Glaxosmithkline; Sollum Technologies; Urban Crop Solutions; Light Science Technologies Ltd.; Light Extraction; Gavita International B.V.; Vivosun; ams-OSRAM AG; California LightWorks; EYE Hortilux; Hortilux Schréder; Koninklijke Philips N.V.; Crecer Lighting; Mars Hydro; Darkless
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AIOps LED Grow Light Market Overview
LED grow lights refer to specialized LED lights that facilitate photosynthesis in plants which helps plants to grow without sunlight or in very low sunlight. These lights are used for growing indoor crops.
LED Grow Light Global Market Report 2023 provides data on the global led grow light market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The led grow light market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.