Global Grow Light Market Technology, Backing Material, Category, End-use Industry, Forecast to 2029
Global Grow Light Market: is expected to reach US$ 10.60 Bn. by 2029, at a CAGR of 24.9% during the forecast period.
Global Grow Light Market Overview:
A research team conducted extensive primary and secondary research for the worldwide industry's Global Grow Light Market study. Secondary research was conducted to supplement existing data, segment the market, assess total market size, anticipate market size, and growth rate.
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Global Grow Light Market Dynamic:
Farmers across the globe are progressively shifting toward hydroponic systems for plant cultivation because of the limited access to outdoor space for gardening and cultivation. Despite sunlight is a key element in the expansion of hydroponic systems, gardeners are gradually opting for electrical illumination for interior farming applications. The grow light solutions are widely adopted for hydroponic systems. Rise in popularity of hydroponic farming systems is expected to drive the global grow light market growth.
Our team at Maximize collects market information and data from a number of sources in order to provide a more realistic regional perspective. The study's country-level analysis is based on a review of several regional stakeholders, regional tax laws and policies, consumer behaviour, and macroeconomic statistics.
Global Grow Light Market Segmentation:
The vertical farming sector is expected to drive the significant growth in the global grow light market. Vertical farming deliver the features such as low transportation cost, less water requirement and technology advancement like internet of things are the key factors. Lighting system with the LED is expected to dominate the growth in global grow light market. Lighting system devices usage an LED lighting system, which delivers dual band colour spectrum and maintains efficiency and low heat dissipation.
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Global Grow Light Market Key Players:
• Royal Philips
• General Electric Company
• Gavita Holland B.V.
• LumiGrow, Inc.
• Heliospectra AB
• Borst Bloembollen B.V.
• Transcend Lighting Inc.
• Sunlight Supply Inc.
• Beacon Lighting India
• Walters Garden, Inc.
• Osram Licht AG
• Green Sense Farms
• Shenzhen Juson Technology Co., Ltd.
• General Electric Company
• Signify Holding
• California Lightworks
• Hortilux Schréder
• Eye Hortilux
• ILUMINAR Lighting
• A Daintree Company
• A Savant Company
A country-level examination of the Global Grow Light Market focuses on categories identified as potentially high-growth, countries with the largest market share, and countries with the highest development potential. The regional breakdowns in the Global Grow Light Market report include North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other countries.
COVID-19 Impact Analysis on Global Grow Light Market: The impact of COVID-19 on global Global Grow Light market has also been included in the report.
Key Questions answered in the Global Grow Light Market Report are:
- Which product segment had the largest share in the Global Grow Light market in 2020?
- How is the projected competitive landscape of the Global Grow Light market in the forecast period (2021-2027)?
- Which are the key factors aiding the Global Grow Light market growth?
- Which region is responsible for the maximum share in the Global Grow Light market in 2020?
- What will be the CAGR of the global Global Grow Light market in the forecast period (2021-2027)?
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About Maximize Market Research:
Maximize Market Research, a global market research firm with a dedicated team of professionals and data has carried out extensive research on the Transportation management system market. Maximize Market Research provides syndicated and custom B2B and B2C business and market research on 12,000 high-growth emerging technologies, opportunities, and threats to companies in the chemical, healthcare, pharmaceuticals, electronics, and communications, internet of things, food and beverage, aerospace and defense, and other manufacturing sectors. Maximize Market Research is well-positioned to analyze and forecast market size while also taking into consideration the competitive landscape of the sectors.
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