LED grow light market is expected to rise to more than $1.9 Billion by 2020, growing at a Compound Annual Growth Rate (CAGR) of 26.93% between 2015 and 2020. Browse 38 market data tables and 51 figures spread through 111 pages and in-depth TOC on “LED Grow Light Market - Forecast to 2020" Light-Emitting Diode (LED) grow light is expected to witness high growth phase in applications such as vertical farming, commercial greenhouse, and indoor farming. Earlier, LED grow lights were used for indoor farming. But with increasing awareness about its benefits, such as energy efficiency, no requirement of ballast, and low heat emission, it has started being adopted in large scale in vertical farming and commercial greenhouse applications. Also, the rising trend of indoor farming, government regulations favoring LED lighting, and requirement for energy-efficient and long-lasting lighting technology as a supplement to natural lighting for plant growth, drive the growth of the LED grow light market. These new opportunities will not only drive the market in the coming years but also lead to opening up new market segments. Free Download Sample Pages @ http://www.marketsandmarkets.com/pdfdownload.asp?id=237907331 A grow light is a type of electronic lamp designed to accelerate plant growth by emitting electromagnetic spectrum ideal for photosynthesis. LED grow lights make use of LED technology for illumination. The LED grow light market is analyzed by different product types, range of light spectrum emitted by them, and on the basis of new or retrofit type of installation. The application segments considered for market estimation of LED grow light include indoor farming, commercial greenhouses, vertical farming, turf & landscaping, and research purposes. The LED grow light has different power that differed according to application. For example the commercial greenhouse,
vertical farming, and indoor farming uses high power LED whereas the turf and landscaping application requires the low watt LED for decoration of gardens and hotels. The agriculture market is on the transition path from using traditional lighting technology to new lighting technology such as Light-Emitting Diode (LED) grow light. The traditional lighting, such as incandescent lamps, halogens, and fluorescent lighting, is witnessing decline due to consumersâ&#x20AC;&#x2122; awareness of LED grow light technology. This trend is being seen more in Europe and the North America, whereas the APAC region is showing the highest growth in the use of LED grow light in urban farming. Also, the Rest of the World (RoW) region, especially in Middle East, commercial greenhouse trend has increased, which is ultimately driving the LED grow light business in the country. Scope of the report: This report categorizes the global LED grow light market on the basis of product, spectrum, installation type, application, and geography. It also covers some of the emerging technologies and trends in this market. Market on the basis of product type: On the basis of product type, the market is segmented into low power product (<300watt) and high power product (>300watt). Market based on spectrum: The LED grow light market, based on spectrum, is segmented into laser partial spectrum and full spectrum. Market based on installation type: The LED grow light market, based on installation type, is segmented into new installation, and retrofit. Market on the basis of application:
The LED grow light market, based on applications is broadly segmented into indoor farming, commercial greenhouse, vertical farming, turf & landscaping, research, and others. The traditional lighting can be used for the growth of a plant, but the high energy wasted with this lighting technology has restraints that force users to switch to LED grow light. Also, the governments from developed countries and regions such as the U.S. and Europe have been stringently passing resolutions in banning incandescent bulbs and supporting the adoption of efficient and eco-friendly technologies such as LED. For instance, The European Commission has planned to phase out halogen lamps from European Union by 2018. About MarketsandMarkets MarketsandMarkets is worldâ&#x20AC;&#x2122;s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model â&#x20AC;&#x201C; GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&Mâ&#x20AC;&#x2122;s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in
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