Grow Lights Market Segmentation:
Technology Segment Analysis
The LED segment in grow lights market is expected to hold a revenue of 38% during the forecast period, as manufacturers significantly improve LED grow lights with expanded spectrum and energy efficiency to match precision agriculture requirements. In January 2023, Polymatech Electronics launched its Ravaye full-spectrum LED packages and modules, engineered specifically to optimize plant growth. The designed LEDs help plants proceed through photosynthesis at rapid rates while building chlorophyll content and boosting immune response, thus enabling reliable and high-yield indoor agriculture. These LEDs enable specific light wavelengths to provide suitable illumination during the vegetative and flowering stages, to meet the multiple lighting needs of plants grown in vertical farms and greenhouses.
Application Segment Analysis
The vertical farming segment in grow lights market is expected to account for the largest share during the forecast period. The growing urban population is resulting in enhanced fresh produce requirements among consumers, but cities are struggling with restricted space available for conventional agricultural activities. Vertical farming provides buildings with a modular cultivation system that functions effectively within dense locations such as warehouses, as well as basements and rooftops. These artificial lighting systems provide essential photons that mimic perfect sunlight regardless of sunlight accessibility in artificial agricultural systems.
Governments across the globe are implementing financial incentives, including infrastructure support grants and tax breaks, to support vertical farming. These initiatives provide financial benefits for the adoption of energy-efficient grow lighting systems, particularly LEDs, to minimize the environmental impacts of indoor farming. Such policy frameworks are promoting vertical farming ventures while accelerating the adoption of modern grow light infrastructure for these setups.
Our in-depth analysis of the global grow lights market includes the following segments:
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Switch Type |
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Technology |
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Wattage |
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Spectrum |
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