Heliospectra AB announced the expansion of intelligent LED lighting solutions in order to include ELIXIA 600W high-voltage fully adjustable spectrum light for indoor or greenhouse horticulture applications.
OSRAM GmbH announced the launch of its Phytofy RL, a grow light system for horticulture research. It was developed to meet the various demand of researchers at private institutes, universities, and plant production in vertical farms.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 4842
Published Date: Apr 23, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major factors driving the growth of the led grow lights market are the increasing demand for energy-efficient lighting solutions, the rising demand for horticultural lighting, and the growing awareness about the ecological benefits of using LED grow lights.
The market size of led grow lights is anticipated to attain a CAGR of 29.93% over the forecast period, i.e., 2023-2035.
The major players in the market are Smart Global Holdings, Inc., EVERLIGHT ELECTRONICS CO., LTD, Savant Systems, Inc, Bridgelux, Inc., OSRAM GmbH, Heliospectra AB, Black Dog LED, WOLFSPEED, INC., Samsung Electronics, and others.
The vertical farming segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Europe region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.