The recent analysis by Markntel Advisors (a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals) on Horticulture Lighting Market describes factors using drivers, Challenges, Opportunities, and Trends, that propel the market growth and expansion. Using this report, the readers can better understand various consumer types, purchasing intentions, wants and preferences, viewpoints on the product/service, how they react to a specific product that is currently on the market, and much more with the accurate and current information provided in this research report. The study also provides a thorough analysis of the measures that important stakeholders might take to lessen and avoid different economic repercussions.
Horticulture Lighting Market Growth Insights with Opportunities, Trends, Drivers, and Challenges for 2024-2030
According to the most recent analysis, The Global Horticulture Lighting Market size is valued at around USD 6.78 Billion in 2023 and is projected to grow at a CAGR of around 16.22% during the forecast period, i.e., 2024-30. The stakeholders will gain in-depth knowledge about the market dynamics and competitive landscape from past, present, and future perspectives, enabling them to use this information to guide their use of money and resources. The Horticulture Lighting Market offers an overall analysis of the market size and development trends over the next five years (2024-2030) using both quantitative and qualitative methods.
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Market Report Scope:
Base year of the Analysis: 2023
Historic Period: 2019-2022
Forecast Period: 2024-2030
Report Delivery Format: PDF, Excel, and PowerPoint formats, within 24 hours of the payment being successfully received
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.
Horticulture Lighting Market - Competitive and Segmentation Analysis:
The market is divided into key segments based on various categories. Analyzing the growth within these segments will highlight areas of limited growth in the industry and provide valuable insights and an overview to assist users in making informed strategic decisions for identifying core market opportunities.
By Application
-Indoor Farming
-Greenhouse
-Vertical Farming
- the Vertical Farming segment is anticipated to drive the Global Horticulture Lighting Market during forecast period.
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
- Middle East & Africa
- Asia-Pacific
Europe demonstrates a significant shareholding and thereby dominates the Global Horticulture Lighting Market in the historical period.
Who Are the Leaders in the Horticulture Lighting Market?
The competitive landscape of the market offers insights into various competitors, including company overviews, financial performance, revenue generation, market potential, and investment in research and development. It also highlights new market initiatives, production sites and facilities, production capacities, as well as the strengths and weaknesses of each company. Additionally, the analysis covers product launches, product range, and application dominance. These data points specifically focus on the companies' strategies and positioning within the market.
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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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
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