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Light-emitting Diode (LED) Grow Lights Market Driving Factors, Growth Rate and Size, Overview by Global Opportunities, Key Vendors, Types, Applications, Forecast 2020-2024

Light-emitting Diode (LED) Grow Lights

TheLight-emitting Diode (LED) Grow Lights Market” research report presents comprehensive information about Light-emitting Diode (LED) Grow Lights market trends, industry size, growth opportunities, and COVID-19 impact analysis. A thorough qualitative analysis of the aspects responsible for driving and restraining the demand has also been deliberated in this report. The report provides in-depth information on foremost growth drivers, restraints, challenges to offer a complete analysis of the global Light-emitting Diode (LED) Grow Lights market. It also covers detailed information of the factors influencing market growth.

About Light-emitting Diode (LED) Grow Lights Market:

Light-emitting Diode (LED) Grow Lights Market analysis considers sales from commercial greenhouses, vertical farming, and other applications. Our study also finds the sales of light-emitting diode (LED) grow lights in APAC, Europe, MEA, North America, and South America. In 2018, the commercial greenhouses segment had a significant market share. However, LED grow lights market growth in the greenhouse segment will be slower than the growth of the market in the vertical farming segment. Factors such as high demand for LED grow lights from greenhouse operators will play a significant role in the vertical farming segment to maintain its market position. Also, our global light-emitting diode (LED) grow lights market report looks at factors such as growth in indoor farming, need for energy-efficient and long-lasting grow light technology, and new product developments. However, high installation and setup costs, harmful effects of LED grow lights, and weight of LED grow lights may hamper the growth of the light-emitting diode (LED) grow lights industry over the forecast period.

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Topmost Key Players Covered in the Light-emitting Diode (LED) Grow Lights Market Report:

  • Advanced LED Grow Lights
  • Cree Inc.
  • General Electric Co.
  • GNUK Ltd.
  • Heliospectra AB
  • Illumitex Inc.
  • LumiGrow Inc.
  • OSRAM Licht AG
  • Senmatic AS
  • and Signify NV.

    Market Dynamics of Light-emitting Diode (LED) Grow Lights Market:

    Drivers: Growth In Indoor Farming.

    Trends: Use Of Artificial Intelligence In Led Grow Lights.

    Opportunity: Harmful Effects Of Led Grow Lights.

    Growth in indoor farming

    There has been a growing scarcity of arable lands with increasing industrial development and urbanization. The need for indoor farming has increased due to the growing demand for food. The establishment of various facilities such as greenhouses, storage containers, refurbished warehouses, and other structures has eased the practice of indoor farming. There are various ways to produce crops indoors, including vertical farming, aquaponics, and hydroponics. This has led to high productivity in small areas. For instance, Signify NV launched its new Philips GreenPower LED toplighting with an optimized light spectrum for cut rose cultivation. This growth in indoor farming will lead to the expansion of the global light-emitting diode (LED) grow lights market at a CAGR of over 25% during the forecast period.

    Use of artificial intelligence in LED grow lights

    The demand for artificial intelligence in various fields has been growing. Artificial intelligence helps in discovering various environmental factors, which can affect plant growth during indoor farming. Indoor farming needs a controlled environment with the right amount of temperature, humidity, CO2 level, water, and light. AI-enabled LED grow lights are also helping end-users in saving electricity bills. Vendors such as Osram Light are manufacturing AI-enabled LED grow lights that not only regulates light input but also predicts crop diseases. This development is expected to have a positive impact on the overall market growth.

    Light-emitting Diode (LED) Grow Lights Market Report Highlights: –

    • The report covers forecast and analysis for the market on a global and regional level.
    • The report includes the drivers and the restraints that affect the growth of the market.
    • The report discusses detailed information about market opportunities.
    • The market is segmented on the basis of product and end-user industry which in turn is bifurcated on the regional level.
    • The key target audience for the market has been determined in the report.
    • The revenue generated by the prominent industry players has been analyzed in the report.

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    Light-emitting Diode (LED) Grow Lights Market Segmentation Covers:

    MARKET SEGMENTATION BY APPLICATION:

    • Commercial greenhouses
    • Vertical farming
    • Others

    Regional Segmentation:

    • APAC
    • Americas
    • EMEA 

    The objective of Studies:

    • To provide a detailed analysis of the market structure along with the forecast of the various segments and sub-segments of the global Light-emitting Diode (LED) Grow Lights market.
    • To provide insights about factors affecting market growth. To analyze the Light-emitting Diode (LED) Grow Lights market based on various factors- price analysis, supply chain analysis, Porte five force analysis, etc.
    • To provide historically and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America, and Rest of the World.
    • To provide country-level analysis of the market with respect to the current market size and future prospective.
    • To provide country-level analysis of the market for segment by application, product type, and sub-segments.
    • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
    • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Light-emitting Diode (LED) Grow Lights market.

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    Some Points from Light-emitting Diode (LED) Grow Lights Market Report TOC:

    PART 01: EXECUTIVE SUMMARY

    PART 02: SCOPE OF THE REPORT

    • 2.1 Preface
    • 2.2 Preface
    • 2.3 Currency conversion rates for USD

    PART 03: MARKET LANDSCAPE

    • Market ecosystem
    • Market characteristics
    • Market segmentation analysis

    PART 04: MARKET SIZING

    • Market definition
    • Market sizing 2019
    • Market size and forecast 2019-2024

    PART 05: FIVE FORCES ANALYSIS

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    PART 06: MARKET SEGMENTATION BY TECHNOLOGY

    • Market segmentation by technology
    • Comparison by technology

    PART 07: MARKET SEGMENTATION BY FURNACE TYPE

    PART 08: CUSTOMER LANDSCAPE

    PART 09: GEOGRAPHIC LANDSCAPE

    • Geographic segmentation
    • Geographic comparison
    • APAC – Market size and forecast 2019-2024
    • Americas – Market size and forecast 2019-2024
    • EMEA – Market size and forecast 2019-2024
    • Key leading countries
    • Market opportunity

    PART 10: DRIVERS AND CHALLENGES

    • Market drivers
    • Market challenges

    PART 11: MARKET TRENDS

    PART 12: VENDOR LANDSCAPE

    • Overview
    • Landscape disruption
    • Competitive scenario

    PART 13: VENDOR ANALYSIS

    • Vendors covered
    • Vendor classification

    For Detailed TOC Click Here

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