With 22.4% CAGR, Horticulture Lighting Market Growth to Surpass USD 10.4 billion

The horticulture lighting market is expected to reach USD 10.4 billion by 2028 from USD 3.7 billion in 2023, at a CAGR of 22.4% during the 2023-2028 period. One of the most significant driver of horticulture lighting is its capability to enable year-round crop production, regardless of the external climate and sunlight availability. This breakthrough in agricultural technology has revolutionized the way crops are cultivated and has become a game-changer for farmers, especially those operating in regions with extreme weather conditions or limited natural sunlight hours. In traditional agriculture, seasonal changes and adverse weather conditions often pose challenges to farmers, affecting crop growth and productivity. Cold winters, scorching summers, or regions with unpredictable weather patterns can severely limit the growth season for specific crops, leading to fluctuations in supply and demand and potentially affecting food security. Horticulture lighting systems, particularly utilize advanced LED technology, to provide a viable solution for these challenges. By mimicking the sun's spectrum and adjusting the light intensity, these lighting setups create an artificial environment that simulates ideal growing conditions for plants. This means that farmers can grow crops indoors or in controlled environments, independent of the external weather conditions.

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Smart lighting solutions in horticulture refer to the integration of advanced technologies and data-driven systems that enable growers to achieve precise control over their lighting setups. This trend has been steadily gaining momentum as growers seek more efficient and effective ways to manage their indoor farming and controlled environment agriculture (CEA) operations. With smart lighting solutions, growers can remotely access and control their horticulture lighting systems through various digital platforms. One of the key features of smart lighting solutions is the ability to collect and analyse real-time data from the growing environment. Sensors placed within the growing area continuously monitor various parameters such as temperature, humidity, and light levels. This data is then processed and used to make informed decisions about the lighting setup.

LED grow lights represent a groundbreaking light source that offers unparalleled spectral composition control, enabling precise matching of wavelengths to plant photoreceptors. This capability leads to enhanced production yields and the ability to influence plant morphology and composition positively. Among these LED solutions, full-spectrum LED grow lights stand out as they mimic sunlight's spectral composition without the drawbacks of thermal radiation and wavelength waste. By emphasizing blue and red regions while incorporating additional wavelengths like far-red and green, full-spectrum LED grow lights support comprehensive plant development throughout the entire growth cycle.

The farm-to-table concept has been gaining momentum in recent years, as consumers increasingly seek fresh, locally sourced produce. This trend aligns perfectly with the advancements in horticulture lighting technology, which present an opportunity for businesses to enhance their agricultural practices and meet the growing demand for sustainable and high-quality food.

Horticulture lighting, especially when deployed in large-scale indoor farming facilities, plays a pivotal role in enabling year-round crop cultivation. By utilizing specialized lighting systems, growers can create controlled environments tailored to specific crops, independent of external factors like weather conditions. This level of precision allows for consistent and reliable yields, ensuring a steady supply of fresh produce to meet the requirements of the farm-to-table market.

One of the key advantages of incorporating horticulture lighting into the farm-to-table model is the reduction in transportation distances. By establishing indoor farms in close proximity to urban centers or restaurants, businesses can significantly cut down on the transportation time and distance from the farm to the end consumer. This reduction not only enhances the freshness and nutritional value of the produce but also contributes to lower carbon emissions associated with transportation, aligning with the sustainability goals of the farm-to-table movement.

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Key players in the Horticulture lighting market are Signify Holding (Phillips Lighting) (Netherlands), Gavita International B.V.(Netherlands), Heliospectra(Sweden), ams-OSRAM International GmbH(Austria), California LightWorks(US), Valoya (Finland), Hortilux Schréder(Netherlands), ILUMINAR Lighting(US), Current Lighting Solutions, LLC.(US), GE Lighting (SAVANT TECHNOLOGIES LLC.)(US), ACUITY BRANDS, INC.(US), Lumileds Holding B.V.(Netherlands), Cree LED an SGH company(US), TCP Lighting(US), PARsource(US), EconoLux Industries Ltd.(China), Oreon (Netherlands), GlacialLight - Division of GlacialTech Inc.(Taiwan), Black Dog Horticulture Technologies & Consulting(US), ViparSpectra(US), Active Grow(US), Agnetix(US), Thrive Agritech(US), Bridgelux, Inc.(US), and Kroptek(UK).

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