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Agriculture Lighting Market to Grow Significantly: Projected CAGR of 12.4% by 2032

05-17-2024 03:08 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Market Digits

The agriculture lighting market has witnessed significant growth in recent years, driven by the increasing adoption of indoor farming, greenhouse cultivation, and vertical farming practices. Agriculture lighting solutions play a crucial role in optimizing plant growth, enhancing crop yield, and extending the growing season in controlled environment agriculture (CEA) settings. This overview provides a comprehensive analysis of the agriculture lighting market, highlighting key points, trends, and recent developments within this dynamic industry.The Agriculture lighting Market is Valued USD 11.8 billion by 2024 and projected to reach USD 33.78 billion by 2032, growing at a CAGR of 12.4% During the Forecast period of 2024-2032.

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Major Players In Agriculture lighting Market Include:

AKVA Group
ams OSRAM AG
California LightWorks
CBM Lighting
Current Lighting Solutions, LLC
DeLaval
Gavita International B.V
HATO Agricultural Lighting
Heliospectra AB
Hubbell Incorporated
Lely
Luminus, Inc.
Samsung
Signify Holding
Sunbird

Key Points:

Transition to Controlled Environment Agriculture (CEA): The shift towards CEA methods, including indoor farming, greenhouse cultivation, and vertical farming, is driving the demand for agriculture lighting solutions. CEA enables growers to cultivate crops year-round, irrespective of external environmental conditions, by providing precise control over light, temperature, humidity, and nutrients.

LED Technology Dominance: Light-emitting diode (LED) technology has emerged as the dominant lighting solution in agriculture due to its energy efficiency, longevity, and ability to provide customizable light spectra tailored to specific crop requirements. LED grow lights offer advantages such as spectrum tunability, uniform light distribution, and reduced heat output, making them ideal for CEA applications.

Optimization of Plant Growth Parameters: Agriculture lighting solutions enable growers to optimize key growth parameters, including light intensity, spectrum, duration, and photoperiod, to enhance plant photosynthesis, flowering, and fruiting processes. By providing plants with the optimal light conditions throughout their growth cycle, growers can achieve higher yields, improve crop quality, and accelerate harvest cycles.

Integration of Smart Lighting Systems: The integration of smart lighting systems, equipped with sensors, automation controls, and data analytics capabilities, is enhancing the efficiency and effectiveness of agriculture lighting solutions. Smart lighting systems enable real-time monitoring of environmental conditions, dynamic adjustment of light settings, and predictive analytics to optimize crop production and resource utilization.

Sustainable and Energy-Efficient Solutions: Growers are increasingly focused on adopting sustainable and energy-efficient agriculture lighting solutions to reduce operating costs, minimize environmental impact, and meet regulatory requirements. LED grow lights consume significantly less energy than traditional lighting technologies such as high-pressure sodium (HPS) and metal halide (MH) lamps, contributing to energy savings and greenhouse gas emissions reduction.

Major Segmentations Are Distributed as follows:

By Component:
Lamps
Luminaries
Lighting Controls
Sensing Devices
Others (Timer, Accessories, etc.)

By Light Source:
Incandescent Lamps
Fluorescent Lamps
High Intensity Discharge Lamps
LEDs
Others (Halogen, Metal-halide, etc.)

By Wattage Type:
Up to 100W
100W - 300W
300W - 500W
Above 500W

By Application:
Horticulture
Livestock
Aquaculture
Vertical Farming

Recent Developments

In February 2023, ams-OSRAM AG, global leader in optical solutions, announced a collaboration using the OSLON Square platform and OSLON SSL LEDs with Revolution Microelectronics (US), a controlled agriculture environment designer, to provide lighting for GreenCare Collective's new futuristic facility. A perpetual harvest methodology developed by GreenCare Collective's cutting-edge facility uses seasonal programmed spectrum controls and cutting-edge crop steering techniques to produce an extra harvest of plants every year.

In January 2023, Energous Corporation (US), a leading developer of RF-based charging for wireless power networks, and ams-OSRAM AG, a leader in optical solutions, announced a collaboration on a wirelessly powered multi-spectral light sensor for Controlled-Environment Agriculture and vertical farming. These sensors allow farmers to manage their lighting in the most efficient way possible..

Key Trends:

Vertical Farming Expansion: The rapid expansion of vertical farming facilities, particularly in urban areas with limited arable land, is driving the demand for agriculture lighting solutions optimized for multi-tiered growing systems. Vertical farms utilize stacked cultivation racks equipped with LED grow lights to maximize space utilization and crop production efficiency.

Research and Development of Spectral Technologies: Manufacturers are investing in research and development to develop advanced spectral technologies tailored to specific crop types, growth stages, and desired outcomes. Tailored light spectra, including combinations of red, blue, far-red, and white light wavelengths, can influence plant physiological processes such as photosynthesis, photomorphogenesis, and photoperiodic responses.

Integration of Internet of Things (IoT) and Artificial Intelligence (AI): The integration of IoT sensors, AI algorithms, and cloud-based platforms is enabling real-time monitoring, analysis, and optimization of agriculture lighting systems. IoT-enabled sensors collect data on environmental parameters, plant growth metrics, and energy consumption, while AI algorithms analyze the data to provide actionable insights and automate lighting control strategies.

Focus on Crop-Specific Solutions: Manufacturers are developing crop-specific lighting solutions tailored to the unique requirements of different crops, such as leafy greens, herbs, vegetables, fruits, and ornamental plants. Crop-specific lighting solutions optimize light spectra, intensity, and photoperiod to maximize photosynthetic efficiency, nutrient uptake, and crop quality, resulting in higher yields and improved marketability.

Recent Developments:

Advancements in Horticultural LED Technology: Manufacturers are introducing next-generation horticultural LED fixtures with improved efficiency, spectral tuning capabilities, and durability to meet the evolving needs of growers. These advancements enable growers to achieve higher crop yields, better quality, and lower operating costs compared to conventional lighting technologies.

Expansion of Vertical Farming Facilities: Vertical farming companies are expanding their operations and investing in advanced agriculture lighting systems to scale production and meet growing demand for fresh, locally-grown produce. Vertical farms equipped with state-of-the-art LED grow lights are emerging as viable solutions for sustainable urban agriculture and food security.

Regulatory Support for Energy-Efficient Lighting: Governments and regulatory agencies are implementing policies, incentives, and standards to promote the adoption of energy-efficient lighting solutions, including LED grow lights, in agriculture. Regulatory support, such as energy efficiency programs, rebates, and certification schemes, encourages growers to invest in sustainable lighting technologies and reduce their carbon footprint.

Collaborations and Partnerships: Collaboration between lighting manufacturers, horticultural researchers, agricultural technology companies, and vertical farming operators is driving innovation and market growth in the agriculture lighting sector. Partnerships facilitate knowledge exchange, technology transfer, and co-development of tailored lighting solutions optimized for specific crops, growing environments, and production goals.

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In conclusion, the agriculture lighting Market Research Report is experiencing rapid growth and innovation, fueled by the expansion of controlled environment agriculture, advancements in LED technology, and the adoption of sustainable farming practices. Key trends such as vertical farming expansion, spectral optimization, IoT integration, and crop-specific solutions are shaping the future of agriculture lighting, offering growers enhanced control, efficiency, and productivity. Recent developments in horticultural LED technology, regulatory support, and industry collaborations underscore the significant opportunities and challenges facing stakeholders in the agriculture lighting market.

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Email: sales@marketdigits.com
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About MarketDigits:

MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that a market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.

We offer services that are most relevant and beneficial to the users, which help businesses to sustain themselves in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.

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