How Grow Light Became a Multi-Billion Dollar Industry

What is Grow Light?

A grow light is an artificial source of light energy that is particularly designed to stimulate and control the growth of seeds and plants by discharging an electro-magnetic spectrum for photosynthesis. Grow light is normally utilized in applications where additional light is required or where natural light is not available. It is a kind of electronic lamp designed for accelerating the growth of the plant by electronic magnetic spectrum.

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Rising attractiveness of commercial greenhouses to cultivate plants and development in indoor farming methods are the key factors that are driving the grow light market. Automation in commercial greenhouses is growing considerably and has helped farmers to maximize their yield by utilizing grow lights. However, high cost of capital and less awareness among consumers, are the factors hampering the growth of the market. Whereas, low power consumption, high commercial greenhouse practices, and high reliability are also driving the growth of the grow light market.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global grow light market based on technology, installation and application. It also provides market size and forecast till 2027 for overall grow light market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 16 counties globally along with current trend and opportunities prevailing in the region.

Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the market in these regions.

The List of Companies

1. Osram LichtAG

2. General Electric Company

3. Iwasaki Electric Co., Ltd.

4. LumiGrow, Inc.

5. Gavita Holland B.V.

6. Sunlight Supply, Inc.

7. Heliospectra AB

8. Royal Philips

9. Illumitex Inc.

10. Transcend Lighting Inc.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.