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LED Grow Light Market Driven - Future Multi Billion Dollar Industry By TOP Players : Royal Philips Electronics N.V., Lumigrow, Inc., Osram Licht AG, Heliospectra AB, General Electric Company
Global LED Grow Light Market AnalysisAccording to Verified Market Research, The Global LED Grow Light Market was valued at USD 1.13 Billion in 2018 and is projected to reach USD 6.78 Billion by 2026, growing at a CAGR of 24.90% from 2018 to 2025.
What is LED Grow Light?
A grow light or plant light is an artificial light source, usually, an electric light aimed to stimulate plant growth by emitting light suitable for photosynthesis. A variety of bulb types are used as grow lights, like fluorescent lights, incandescent, high-intensity discharge lamps (HID), and light-emitting diodes (LED). LED grow lights are made of light-emitting diodes, with a heat sink and built-in fans. LED grow lights vary in color depending on the intended use which is given by a study of photomorphogenesis. According to the study, green, red, far-red and blue light spectra have an effect on root formation, plant growth, and flowering.
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Global LED Grow Light Market Outlook
In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Government regulations favoring the growth of led technology, the increasing trend of indoor farming, the ever-growing new of having an energy-efficient and long-lasting technology are few of the key driving factors for the growth of the Global LED grow light market in the forecast period. However, for this technology to work as per expectations, it is important to purchase good quality LED grow lights which can be a costly affair for the growers. This could be one of the major restraining factors for the market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global LED Grow Light Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
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Global LED Grow Light Market Competitive Landscape
The “Global LED Grow Light Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Royal Philips Electronics N.V., Lumigrow, Inc., Osram Licht AG, Heliospectra AB, General Electric Company, CREE, Inc., Everlight Electronics Co. Ltd., Alta LED Corporation, Bridgelux, Inc., Illumitex, Inc. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global LED Grow Light Market, By Product
• 300 Watt
Global LED Grow Light Market, By Installation Type
• Retrofit
• New Installation
Global LED Grow Light Market, By Spectrum
• Partial Spectrum
• Full Spectrum
Global LED Grow Light Market, By Application
• Introduction
• Indoor Farming
• Commercial Greenhouse
• Vertical Farming
• Turf and Landscaping
• Research
• Others
Global LED Grow Light Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
• Rest of the World
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Verified Market Research’ has been providing Research Reports, with up to date information, and in-depth analysis, for several years now, to individuals and companies alike that are looking for accurate Research Data. Our large database includes the latest Content from renowned authors and publications worldwide. We’ve recently developed a one of its own kind smart-system, which helps us determine the authenticity and reputation of the content and its author. This ‘smart-system’ ensures that we always include high – quality content in our database. We also provide customized Data and Reports according to the need of our client. We strive for excellence and perfection in all our work, and our in-house team is working 24/7 so that you get the Data, Reports, and Analytics you need to help make better decisions. We believe in Customer Satisfaction, and to achieve that we aim to understand the client’s need to provide ‘tailor-made’ services.
Our aim is to save your Time and Resources, providing you with the required Research Data, so you can only concentrate on Progress and Growth. Our Data includes research from various industries, along with all necessary statistics like Market Trends, or Forecasts from reliable sources.
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