AeroFarms, Gavita International b.v., Lumileds, Philips Lighting, OSRAM These Major Players Prfiled in Grow Light Market Study Report

The grow light market in economies including the U.S., Canada, and the UK due to their higher spending capacity dominates in terms of revenue. Grow light market is expanding in countries including Northern Canadian states, Siberia, and parts of Argentina and Chile, where natural sunlight is available for fewer hours as the night time exceeds daytime hours. The devices are used in these regions to support the crop growth in the absence of natural sunlight.

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Rapid urbanization has resulted in heavy population migration to urban areas, driving the demand for grow light market. This results in an increased demand for food in urban regions as the area for natural farming is severely limited. The application of this equipment in such regions enables the crop growth for the general population. In the aftermath of the Canadian government legalizing the cannabis production by means of LED devices, Heliospectra AB announced that it had received an order of USD 650,000 by an undisclosed company for the provision of its LX60 intelligent LED solution. Cannabis requires intensive illumination source for prolonged periods, spiking the demand for the grow light market.

Players in the grow light market include Aerofarms Ltd., Gavita Holland B.V., Lumileds Holding B.V., Philips Lighting Ltd., OSRAM Licht Group, Valoya Ltd., Heliospectra AB, Sunlight Supply, Inc., and Fluence Bioengineering, Inc.

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The rise of vertical farming techniques has had a positive effect on the rise of the grow light market across the world. This technique is on the rise owing to the space-saving characteristics, high crop yield, and lower interference from external environmental characteristics. The technology has high applications in this farming technique. However, grow light market expansion is obstructed by the inability of farmers to afford indoor or vertical farming techniques as the maintenance costs incurred by famers and horticulturists are higher than the conventional farming techniques. However, the profits obtained by this technique are higher than the maintenance costs. These methods require a higher amount of water, thereby making it unsuitable in regions such as African deserts with scant water resources, impacting the adoption of grow light market in these locations.

Grow light market has a promising scope for expansion by facilitating the use of automated and semi-automated farming techniques. For instance, automated facilities enable the user to have the added flexibility of concentrating on the other aspects of farming. With the commercialization of IoT, grow light market expansion will receive further impetus. There is a high demand for remote and connected technologies for better convenience and higher efficiency. Fluorescent LED devices exhibit varied spectrums of wavelength output and can drive the grow light market in the near future. For instance, the warm and red spectrum is recommended for the growth of flowers and the cool and blue spectrum is preferred for vegetative growth.

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Research applications are anticipated to witness growth in the coming years. Scientific experiments conducted on plants constitute the research field applications of the devices. The application of grow light market in commercial greenhouses is increasing at a rapid rate. The greenhouses allow greater control over the growth environment of a plant. Key factors such as fertilizer applications, irrigation, and atmospheric humidity can be altered to suit the growth of the plant.

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