LED Grow Light Market Study Offering Deep Insight Related to Growth Trends until 2027- Alta LED Corporation, Bridgelux, Cree, Everlight Electronics, General Electric, Heliospectra, Illumitex, Lumigrow, Osram Licht

LED grow light or plant light is an artificial light used to stimulate the process of photosynthesis in plants. The electromagnetic spectrum of LED grow light are similar to the sun or the spectrum is designed accordingly to meet the electromagnetic spectrum need of the particular plant. Controlled environment is created for the growth of the plant with varying color, temperature, spectral output, and intensity of LED glow light. LED grow lights are widely used to where there is limited availability of sunlight or where supplementary light is required to grow plants.

The global LED grow light market is deemed to flourish in the forecast period because of driving factors like indoor farming, commercial farming, government initiatives to adopt solid-state lighting technologies across various regions, increase in adaptation of automation in farming to maximize yield using LED grow light and high proliferation in vertical farming. However, lack of awareness and high cost of capital are hindering the growth of LED glow light market. The farming industry is witness to see rapid growth due to high reliability and low power consumption of LED grow light which is creating new opportunities for LED grow light market.

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The report also includes the profiles of key LED Grow Light companies along with their SWOT analysis and Market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
• Alta LED Corporation
• Bridgelux, Inc.
• Cree, Inc.
• Everlight Electronics Co. Ltd.
• General Electric Company
• Heliospectra AB
• Illumitex, Inc.
• Lumigrow, Inc.
• Osram Licht AG
• Royal Philips Electronics N.V.

The LED Grow Light Market is segmented on the basis of technology, installation, application, voltage type and spectrum. Based on technology, the Market is segmented as fluorescent lighting, high-intensity discharge, LED and Others. On the basis of the installation the Market is segmented into new installation and retrofit. On the basis of application model, the Market is segmented into, indoor farming, turf and landscaping, vertical farming, commercial greenhouse, research and others. On the basis of the voltage type the Market is segmented into high voltage and low voltage. On the basis of the spectrum the Market is segmented into Laser partial spectrum and Full spectrum.

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The report analyzes factors affecting LED Grow Light 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 & Central America after evaluating political, economic, social and technological factors effecting the LED Grow Light Market in these regions.

Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global LED Grow Light Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the LED Grow Light Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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This release was published on openPR.