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Grow Lights Market by Offering (Hardware, Software & Services), Wattage (<300, >=300), Spectrum (Full Spectrum, Limited Spectrum), Cultivated Plant, Installation Type, Lighting Type, Sales Channel, Application and Region - Global Forecast to 2029
Market Report I 2024-05-30 I 231 Pages I MarketsandMarkets
The grow lights market is expected to reach USD 6.4 billion by 2029 from USD 2.0 billion in 2024, at a CAGR of 26.5% during the 2024-2029 period.
LED grow lights have surpassed conventional lighting technologies in energy efficiency, lifespan, versatility, and color quality. With their increasing cost competitiveness, they're widely adopted in applications like vertical farms, indoor farms, and greenhouses, catering to various plant needs with different types, shapes, sizes, prices, and colors. LED grow lights outshine traditional high-intensity discharge (HID) lamps in energy efficiency and lifespan, offering a longer operating life of nearly 50,000 hours and consuming 50% to 85% less electricity. Their ability to emit specific spectrums tailored to plant requirements maximizes growth potential and nutritional value while reducing energy costs. Additionally, LEDs are lighter, easier to install, and less heat-emitting, ensuring plants remain unharmed even when placed in proximity. Their resistance to vibrations, thermal shocks, water, and moisture makes them ideal for greenhouse environments. These attributes, coupled with advancements in spectral tailoring and light distribution control, position LED grow lights as the preferred choice for year-round crop production, mitigating weather-dependent limitations of traditional farming methods.
LED grow lights play a pivotal role in enabling farmers to produce high-quality crops throughout the year, irrespective of weather conditions. Their ability to provide photosynthetically active radiation (PAR) for photosynthesis enhances plant quality and productivity, particularly in regions with limited sunlight. By optimizing light spectra for specific crops and offering greater lighting control, LED grow lights maximize yields and nutritional values while minimizing energy costs. Controlled environment agriculture (CEA), facilitated by LED lighting, allows for multiple harvests per year, with one indoor acre equivalent to several outdoor acres. The controlled environment minimizes pest infestation, post-harvest spoilage, and the impact of adverse weather conditions, ensuring high-quality, consistent yields. As climate change poses challenges to traditional farming, the adoption of CEA practices, powered by LED grow lights, is expected to surge, driving further demand for efficient indoor horticulture solutions.
"Legalization of medicinal plants in different countries to increase in the demand of grow lights marker."
The legalization of medicinal plants, such as marijuana, has sparked a surge in the demand for grow lights, especially in areas where these plants are sanctioned. According to the report by National Conference of State Legislatures in April 2024, 24 states along with two territories and the District of Columbia, have legalized small amounts of cannabis (marijuana) for adult recreational use. Recently, legislation in Delaware, Maryland, Minnesota, Missouri, Ohio, and Rhode Island has been passed, permitting individuals aged 21 or older to possess specific quantities of cannabis. These new laws, except in Delaware, also allow individuals to cultivate marijuana at home, although the permitted number of plants varies by state. It's noteworthy that in all six of these areas, cannabis for medical purposes was legalized before recreational adult use.
In June 2022, Thailand marked a significant milestone by becoming the inaugural Asian nation to legalize cannabis. With this legislative change, cultivating and trading marijuana and hemp products, as well as utilizing plant parts for medicinal purposes, ceased to be criminal offenses. Consequently, methods such as grow tents, greenhouses, and vertical farms have become prevalent for indoor cannabis cultivation. However, all these methods necessitate the incorporation of artificial grow lights, thereby paving the way for promising market expansion opportunities.
With marijuana legalization, there's a noticeable trend among cannabis companies diversifying their product offerings. The increased legalization of cannabis cultivation has driven a higher demand for vertical farms and greenhouses, consequently boosting the need for LED-based grow lights. Cannabis grown without sunlight requires careful consideration of various factors. For instance, the heat emitted from HPS lights can damage the product, while LEDs, operating at lower temperatures, offer a solution to excessive heat emissions.
The advantages of LED lighting for cannabis growth are widely recognized: increased yields, shortened crop cycles, and consistent quality. Utilizing the appropriate blend of white, red, and blue LEDs promotes shorter, more compact cannabis plants with enhanced branching and improved THC/CBD potency.
"Fruits & Vegetables segment of grow lights market projected to record the highest market share during the forecast period."
Grow lights ensure optimal plant growth and survival by providing tailored light spectra tailored to the specific requirements of different plants. The appropriate combination of light spectrum, intensity, and duration collectively stimulates plant growth, flowering, and reproduction. Fruits and vegetables such as cucumbers, tomatoes, lettuce, mint, basil, and strawberries are predominantly cultivated in Controlled Environment Agriculture (CEA) facilities.
Outdoor cultivation of these fruits and vegetables necessitates suitable soil, favorable climatic conditions, sunlight, adequate water supply, and high-quality seeds or plant materials, typically yielding only two harvests per season. Failure to meet these conditions can result in poor-quality or inedible produce. However, in vertical farms and greenhouses, these fruits and vegetables thrive in a controlled environment with optimized water and light conditions, often without soil. Harvests in these environments are unaffected by seasonal changes, climatic fluctuations, excessive water usage, or soil variations.
During the vegetative stage, young plants require blue light for growth, while plants in the flowering stage benefit from red spectrum wavelengths, which accelerate stem growth, promote flowering, and enhance fruit and chlorophyll production. Plants respond to light shortly after germination, even before the appearance of the first leaf. Insufficient light exposure during this critical stage can lead to elongated stems and weak plant growth. Adequate spacing between plants is essential to ensure each receives sufficient light for proper growth. Red and blue wavelengths are the most utilized by plants for photosynthesis.
Strawberries are one of the most cultivated fruits in vertical farms, with the trend of vertical farming for strawberries on the rise. A single square foot of a strawberry tower foundation can accommodate around 100 strawberry plants, a significant increase compared to traditional land cultivation, with potential for further growth by increasing the height of the vertical tower.
In May 2024, Heliospectra launched 1500W MITRA X LED light featuring an increased output of 5700mol, wide beam optics, and 3.7 efficacy. With only 2 LED lights needed to cover a standard 8m trellis, the new MITRA X reduces investment costs for vegetable growers while ensuring high output and uniformity to optimize taste and yield. The expanded MITRA X platform emphasizes modularity and versatility, catering to various environments and crops to address the diverse requirements of contemporary growers.
"New installations arse expected to have the largest market share of grow lights in the forecast period."
The demand for fresh horticultural produce is increasing due to the rapidly growing global population. This is expected to encourage growers to set up new greenhouses and expand their existing production facilities to cultivate higher yields each year. The emergence of vertical farms, particularly in urban settings, contributes to the overall increase in horticultural output. Plants grown in vertical farms depend entirely on artificial lighting for photosynthesis; this factor drives the market for new installations.
LED grow lights are preferred over traditional ones in vertical farms for increased productivity and reduced power consumption. These lights have a lower weight and are easier to configure. They emit less heat than high-intensity discharge (HID) bulbs, so the risk of plants getting burned even if LEDs are placed close to them is relatively low. Additionally, LEDs have a long operating life of nearly 50,000 hours, enabling them to be used for more than five years with 1418 hours of daily operations.
The break-up of the profile of primary participants in the grow lights market-
By Company Type: Tier 1 35%, Tier 2 45%, Tier 3 20%
By Designation Type: C Level 40%, Director Level 30%, Others 30%
By Region Type: North America 20%, Europe 40 %, Asia Pacific 30%, RoW 10%,
The major players in the grow lights market are Signify Holding (Netherlands), Gavita International B.V. (Netherlands), Heliospectra (Sweden), ams-OSRAM AG (Austria), California LightWorks (US), Hortilux Schreder (Netherlands), Valoya (Finland), ILUMINAR Lighting LLC. (US), SAVANT TECHNOLOGIES LLC. (US), Ushio Inc. (Japan), EconoLux Industries Ltd. (China), LEDVANCE GmbH (Germany), Lemnis Oreon B.V. (Netherlands), Hyperion Grow Lights (England), Sananbio (China), Dongguan LEDESTAR Opto-electronics Tech. Co., Ltd. (China), ViparSpectra (US), Kind LED Grow Lights (US), Black Dog Horticulture Technologies & Consulting (US), Agrolux B.V. (Netherlands), Sollum Technologies (Canada), Mars Hydro (China), Biological Innovation and Optimization Systems, LLC. (US), EVERLIGHT ELECTRONICS CO., LTD. (Taiwan), and NICHIA CORPORATION (Japan).
Research Coverage
The report segments the grow lights market and forecasts its size based and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall grow lights market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Analysis of key drivers (rising investments in the establishment of vertical farms, greenhouses, and advanced technologies), restraints (human health risk associated with LED grow lights), opportunities (legalization of medicinal plants in different countries), and challenges (Complexities in implementing controlled environment agriculture (CEA) technology and the demand for technical expertise)
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the grow lights market
Market Development: Comprehensive information about lucrative markets the report analyses the grow lights market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the grow lights market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like ams-OSRAM AG (Austria), Signify Holding (Netherlands), SAVANT TECHNOLOGIES LLC. (US), ILUMINAR Lighting LLC. (US), and Gavita International B.V. (Netherlands).
1 INTRODUCTION 30
1.1 STUDY OBJECTIVES 30
1.2 MARKET DEFINITION 31
1.3 STUDY SCOPE 31
1.3.1 MARKETS COVERED 31
FIGURE 1 GROW LIGHTS MARKET SEGMENTATION 31
1.3.2 REGIONS COVERED 32
FIGURE 2 GROW LIGHTS MARKET: REGIONS COVERED 32
1.3.3 INCLUSIONS & EXCLUSIONS 32
1.3.4 YEARS CONSIDERED 33
1.3.5 CURRENCY CONSIDERED 33
1.4 LIMITATIONS 33
1.5 STAKEHOLDERS 34
1.6 SUMMARY OF CHANGES 34
1.7 IMPACT OF RECESSION 34
2 RESEARCH METHODOLOGY 36
2.1 RESEARCH DATA 36
2.2 GROWTH FORECAST ASSUMPTIONS 36
TABLE 1 MARKET GROWTH ASSUMPTIONS 36
FIGURE 3 GROW LIGHTS MARKET: RESEARCH DESIGN 37
2.2.1 SECONDARY DATA 37
2.2.1.1 Key data from secondary sources 38
2.2.1.2 Key secondary sources 38
2.2.2 PRIMARY DATA 39
2.2.2.1 Key data from primary sources 39
2.2.2.2 Interviews with experts 40
2.2.2.3 Breakdown of interviews with experts 40
2.2.2.4 Insights of industry experts 41
2.2.3 SECONDARY AND PRIMARY RESEARCH 41
2.3 MARKET SIZE ESTIMATION 42
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE) - REVENUE GENERATED BY KEY PLAYERS 42
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE) - REVENUE ESTIMATION OF KEY PLAYERS 43
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) -BOTTOM-UP ESTIMATION BASED ON REGION 44
2.3.1 BOTTOM-UP APPROACH 44
2.3.1.1 Approach to derive market size using bottom-up analysis 44
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 45
2.3.2 TOP-DOWN APPROACH 45
2.3.2.1 Approach to derive market size using top-down analysis 45
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 45
2.4 MARKET SHARE ESTIMATION 46
2.5 DATA TRIANGULATION 46
FIGURE 9 DATA TRIANGULATION 46
2.6 RISK ASSESSMENT 47
TABLE 2 RISK FACTOR ANALYSIS 47
2.7 RECESSION-RELATED ASSUMPTIONS 47
2.8 RESEARCH ASSUMPTIONS AND LIMITATIONS 48
2.8.1 RESEARCH ASSUMPTIONS 48
2.8.2 RESEARCH LIMITATIONS 48
3 EXECUTIVE SUMMARY 49
FIGURE 10 VERTICAL FARMING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 50
FIGURE 11 >=300 WATTS TO RECORD HIGHER CAGR DURING FORECAST PERIOD 50
FIGURE 12 EUROPE HELD LARGEST SHARE OF GROW LIGHTS MARKET IN 2023 51
4 PREMIUM INSIGHTS 52
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN GROW LIGHTS MARKET 52
FIGURE 13 RISING DEMAND FOR GROW LIGHTS IN INDOOR SETTINGS TO FUEL MARKET GROWTH 52
4.2 GROW LIGHTS MARKET, BY INSTALLATION TYPE 52
FIGURE 14 NEW INSTALLATIONS SEGMENT TO HOLD LARGER MARKET SHARE BETWEEN 2024 AND 2029 52
4.3 GROW LIGHTS MARKET, BY CULTIVATED PLANT 53
FIGURE 15 FRUITS & VEGETABLES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 53
4.4 GROW LIGHTS MARKET, BY REGION 53
FIGURE 16 SOUTHEAST ASIA GROW LIGHTS MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 53
5 MARKET OVERVIEW 54
5.1 INTRODUCTION 54
5.2 GROW LIGHTS MARKET DYNAMICS 54
FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN GROW LIGHTS MARKET 54
5.2.1 DRIVERS 55
5.2.1.1 Surging demand for fresh food amid declining arable land 55
FIGURE 18 ARABLE LAND (% OF LAND AREA), 2000-2020 55
5.2.1.2 Robust government support for implementation of solid-state lighting technology and controlled-environment agriculture methodologies 56
5.2.1.3 Rising investments in establishment of vertical farms, greenhouses, and advanced technologies 56
5.2.1.4 Maximizing horticulture efficiency and unlocking year-round crop production 57
FIGURE 19 GROW LIGHTS MARKET DRIVERS: IMPACT ANALYSIS 58
5.2.2 RESTRAINTS 58
5.2.2.1 High investments in establishment and installation 58
5.2.2.2 Optimizing plant growth through varied light spectrums 59
5.2.2.3 Risk to human health due to LED grow lights 59
5.2.2.4 Constraints in optimal grow light placement for plant growth 59
FIGURE 20 GROW LIGHTS MARKET RESTRAINTS: IMPACT ANALYSIS 60
5.2.3 OPPORTUNITIES 60
5.2.3.1 Legalization of cannabis for medicinal purposes 60
5.2.3.2 Technological advancements in LED grow lights and automation in lighting systems 61
5.2.3.3 Prospective markets for vertical farming in Asia and Middle East 61
5.2.3.4 Integrated hardware, software, and data analytics platforms for horticultural yield estimation and energy conservation 62
FIGURE 21 GROW LIGHTS MARKET OPPORTUNITIES: IMPACT ANALYSIS 62
5.2.4 CHALLENGES 63
5.2.4.1 Complexities in implementing controlled environment agriculture technology and lack of technical expertise 63
5.2.4.2 Lack of standardized testing protocols for evaluating horticulture lighting product quality 63
FIGURE 22 GROW LIGHTS MARKET CHALLENGES: IMPACT ANALYSIS 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 64
FIGURE 23 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 64
5.4 PRICING ANALYSIS 65
5.4.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE 65
FIGURE 24 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE, 2024 65
TABLE 3 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE, 2020-2024 (USD) 65
5.4.2 INDICATIVE PRICING OF LED GROW LIGHTS, BY REGION 65
TABLE 4 INDICATIVE PRICING OF LED GROW LIGHTS, BY REGION, 2020-2024 (USD) 65
5.5 SUPPLY CHAIN ANALYSIS 66
FIGURE 25 SUPPLY CHAIN ANALYSIS: GROW LIGHTS MARKET 66
5.5.1 RESEARCH & DEVELOPMENT ENGINEERS 66
5.5.2 COMPONENT PROVIDERS/INPUT SUPPLIERS 66
5.5.3 ORIGINAL EQUIPMENT MANUFACTURERS 67
5.5.4 SYSTEM INTEGRATORS/TECHNOLOGY & SERVICE PROVIDERS 67
5.5.5 DISTRIBUTORS & SALES PARTNERS 67
5.5.6 APPLICATIONS 67
5.6 ECOSYSTEM ANALYSIS 68
TABLE 5 GROW LIGHTS MARKET: ECOSYSTEM ANALYSIS 68
FIGURE 26 KEY PLAYERS IN GROW LIGHTS MARKET 69
5.7 INVESTMENT AND FUNDING SCENARIO 69
FIGURE 27 INVESTMENT AND FUNDING SCENARIO FOR STARTUPS 69
5.8 TECHNOLOGY ANALYSIS 70
5.8.1 KEY TECHNOLOGIES 70
5.8.1.1 LED grow lights 70
5.8.1.2 UV and far-red light integration 70
5.8.1.3 Smart lighting 71
5.8.2 COMPLEMENTARY TECHNOLOGIES 71
5.8.2.1 Climate control systems 71
5.8.2.2 Hydroponic and aeroponic systems 72
5.8.3 ADJACENT TECHNOLOGY 72
5.8.3.1 Spectrum control technology 72
5.9 PATENT ANALYSIS 72
FIGURE 28 PATENTS APPLIED AND GRANTED, 2014-2023 73
TABLE 6 GROW LIGHTS MARKET: MAJOR PATENTS, 2023-2024 73
5.10 TRADE ANALYSIS 74
5.10.1 IMPORT SCENARIO (HS CODE 9405) 75
FIGURE 29 IMPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018-2022 (USD MILLION) 75
TABLE 7 IMPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018-2022 (USD MILLION) 75
5.10.2 EXPORT SCENARIO (HS CODE 9405) 76
FIGURE 30 EXPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018-2022 (USD MILLION) 76
TABLE 8 EXPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018-2022 (USD MILLION) 76
5.11 KEY CONFERENCES AND EVENTS, 2024-2025 77
TABLE 9 KEY CONFERENCES AND EVENTS, 2024-2025 77
5.12 CASE STUDY ANALYSIS 78
5.12.1 SIGNIFY HOLDING HELPS TOPLINE GERBERA NURSERY TRANSITION TO FULL LED LIGHTING 78
TABLE 10 PHILIPS GREENPOWER LED TOP LIGHTING INCREASES EFFICIENCY AND QUALITY FOR GROWER RINO MANS 78
5.12.2 MAXIMIZING BERRY PRODUCTION AT NOURSE FARMS WITH CALIFORNIA LIGHTWORKS MEGADRIVE LIGHTING SYSTEM 78
TABLE 11 INNOVATING BERRY CULTIVATION WITH STATE-OF-ART LIGHTING SOLUTIONS 78
5.12.3 NIPOMO AG HARNESSES CALIFORNIA LIGHTWORKS MEGADRIVE LED SYSTEM TO THRIVE IN COMPETITIVE CANNABIS MARKET 79
TABLE 12 PATENTED TECHNOLOGY DRIVES HIGHER YIELDS AND LOWER COSTS FOR SAN LUIS OBISPO GREENHOUSE 79
5.13 TARIFF AND REGULATORY LANDSCAPE 79
5.13.1 TARIFF ANALYSIS 79
TABLE 13 MFN TARIFF FOR HS CODE 9405-RELATED PRODUCTS EXPORTED BY CHINA (2023) 79
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 14 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 15 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 16 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 81
TABLE 17 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 81
5.14 PORTER'S FIVE FORCES ANALYSIS 81
FIGURE 31 GROW LIGHTS MARKET: PORTER'S FIVE FORCES ANALYSIS 82
TABLE 18 IMPACT ANALYSIS OF PORTER'S FIVE FORCES 82
5.14.1 INTENSITY OF COMPETITIVE RIVALRY 83
5.14.2 THREAT OF NEW ENTRANTS 83
5.14.3 THREAT OF SUBSTITUTES 83
5.14.4 BARGAINING POWER OF BUYERS 83
5.14.5 BARGAINING POWER OF SUPPLIERS 84
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 84
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 84
FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION 84
TABLE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR APPLICATIONS (%) 84
5.15.2 BUYING CRITERIA 85
FIGURE 33 KEY BUYING CRITERIA, BY APPLICATION 85
TABLE 20 KEY BUYING CRITERIA, BY APPLICATION 85
6 GROW LIGHTS MARKET, BY OFFERING 86
6.1 INTRODUCTION 87
FIGURE 34 HARDWARE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 87
TABLE 21 GROW LIGHTS MARKET, BY OFFERING, 2020-2023 (USD MILLION) 87
TABLE 22 GROW LIGHTS MARKET, BY OFFERING, 2024-2029 (USD MILLION) 87
6.2 HARDWARE 88
6.2.1 INCREASING DEMAND FOR HARDWARE COMPONENTS TO DRIVE MARKET 88
TABLE 23 HARDWARE: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 88
TABLE 24 HARDWARE: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 89
6.3 SOFTWARE & SERVICES 89
6.3.1 BALANCE BETWEEN LIGHTING AND ENERGY COSTS TO DRIVE MARKET 89
TABLE 25 SOFTWARE & SERVICES: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 90
TABLE 26 SOFTWARE & SERVICES: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 90
7 GROW LIGHTS MARKET, BY WATTAGE 91
7.1 INTRODUCTION 92
FIGURE 35 GROW LIGHTS MARKET, BY WATTAGE 92
FIGURE 36 >=300 WATTS GROW LIGHTS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 92
TABLE 27 GROW LIGHTS MARKET, BY WATTAGE, 2020-2023 (USD MILLION) 92
TABLE 28 GROW LIGHTS MARKET, BY WATTAGE, 2024-2029 (USD MILLION) 93
TABLE 29 GROW LIGHTS MARKET, BY WATTAGE, 2020-2023 (THOUSAND UNITS) 93
TABLE 30 GROW LIGHTS MARKET, BY WATTAGE, 2024-2029 (THOUSAND UNITS) 93
7.2 <300 WATTS 93
7.2.1 APPLICATIONS IN HYDROPONIC GREENHOUSES AND CANNABIS CULTIVATION TO DRIVE MARKET 93
TABLE 31 <300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 94
TABLE 32 <300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 94
7.3 >=300 WATTS 94
7.3.1 CONSISTENT PHOTOSYNTHESIS STIMULATION PROMOTING RAPID PLANT GROWTH TO DRIVE MARKET 94
TABLE 33 >=300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 95
TABLE 34 >=300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 95
8 GROW LIGHTS MARKET, BY SPECTRUM 96
8.1 INTRODUCTION 97
FIGURE 37 LIMITED SPECTRUM GROW LIGHTS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 97
TABLE 35 GROW LIGHTS MARKET, BY SPECTRUM, 2020-2023 (USD MILLION) 97
TABLE 36 GROW LIGHTS MARKET, BY SPECTRUM, 2024-2029 (USD MILLION) 98
8.2 FULL SPECTRUM 98
8.2.1 MIMICKING SUNLIGHT, ENHANCING PLANT GROWTH, ROOT DEVELOPMENT, AND HEALTH DRIVING MARKET 98
8.3 LIMITED SPECTRUM 99
8.3.1 RED AND BLUE SPECTRUMS OPTIMIZING PLANT GROWTH TO DRIVE MARKET 99
9 GROW LIGHTS MARKET, BY CULTIVATED PLANT 100
9.1 INTRODUCTION 101
FIGURE 38 FRUITS & VEGETABLES SEGMENT TO DOMINATE GROW LIGHTS MARKET DURING FORECAST PERIOD 101
TABLE 37 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020-2023 (USD MILLION) 101
TABLE 38 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024-2029 (USD MILLION) 101
9.2 FRUITS & VEGETABLES 102
9.2.1 RISING DEMAND FOR HIGH-QUALITY ORGANIC FRUITS & VEGETABLES TO DRIVE MARKET 102
TABLE 39 FRUITS & VEGETABLES: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 104
TABLE 40 FRUITS & VEGETABLES: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 105
9.3 FLOWERS 105
9.3.1 ADVANTAGES OVER TRADITIONAL FARMING METHODS TO DRIVE MARKET 105
TABLE 41 FLOWERS: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 106
TABLE 42 FLOWERS: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 106
9.4 CANNABIS 107
9.4.1 LEGALIZATION, HIGHER RETURNS ON INVESTMENT, AND AUGMENTED FUNDING TO PROPEL MARKET 107
TABLE 43 CANNABIS: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 108
TABLE 44 CANNABIS: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 108
10 GROW LIGHTS MARKET, BY INSTALLATION TYPE 109
10.1 INTRODUCTION 110
FIGURE 39 RETROFIT INSTALLATIONS SEGMENT TO REGISTER HIGH GROWTH RATE DURING FORECAST PERIOD 110
TABLE 45 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020-2023 (USD MILLION) 110
TABLE 46 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024-2029 (USD MILLION) 111
10.2 NEW INSTALLATIONS 111
10.2.1 RISING DEMAND FOR VERTICAL AND INDOOR FARMING TO DRIVE MARKET 111
TABLE 47 NEW INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 111
TABLE 48 NEW INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 111
10.3 RETROFIT INSTALLATIONS 112
10.3.1 ENERGY CONSERVATION AND REDUCED OPERATIONAL COSTS TO DRIVE MARKET 112
TABLE 49 RETROFIT INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 112
TABLE 50 RETROFIT INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 113
11 GROW LIGHTS MARKET, BY LIGHTING TYPE 114
11.1 INTRODUCTION 115
FIGURE 40 TOP LIGHTING SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 115
TABLE 51 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020-2023 (USD MILLION) 115
TABLE 52 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024-2029 (USD MILLION) 115
11.2 TOP LIGHTING 116
11.2.1 LIGHTING IN INDOOR CULTIVATION MIMICKING SUNLIGHT TO DRIVE MARKET 116
TABLE 53 TOP LIGHTING: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 116
TABLE 54 TOP LIGHTING: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 117
11.3 INTERLIGHTING 117
11.3.1 BIDIRECTIONAL LIGHTS ENABLING HIGHER YIELDS TO DRIVE MARKET 117
TABLE 55 INTERLIGHTING: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 117
TABLE 56 INTERLIGHTING: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 118
12 GROW LIGHTS MARKET, BY SALES CHANNEL 119
12.1 INTRODUCTION 120
FIGURE 41 DISTRIBUTION CHANNELS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 120
TABLE 57 GROW LIGHTS MARKET, BY SALES CHANNEL, 2020-2023 (USD MILLION) 120
TABLE 58 GROW LIGHTS MARKET, BY SALES CHANNEL, 2024-2029 (USD MILLION) 120
12.2 DISTRIBUTION CHANNELS 121
12.2.1 SUPERIOR AFTER-SALES SUPPORT TO DRIVE MARKET 121
12.3 E-COMMERCE CHANNELS 121
12.3.1 RISING PREFERENCE BY SMALL GROWERS/HOME-BASED GROWERS TO BOOST MARKET 121
12.4 DIRECT SALES CHANNELS 121
12.4.1 INCREASING APPREHENSIONS REGARDING COUNTERFEIT PRODUCTS TO DRIVE MARKET 121
13 GROW LIGHTS MARKET, BY APPLICATION 122
13.1 INTRODUCTION 123
FIGURE 42 GROW LIGHTS MARKET, BY APPLICATION 123
FIGURE 43 VERTICAL FARMING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 124
TABLE 59 GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 124
TABLE 60 GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 124
13.2 GREENHOUSES 125
13.2.1 PROTECTED ENVIRONMENTS ENSURING OPTIMAL YIELDS TO DRIVE MARKET 125
TABLE 61 GREENHOUSES: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 125
TABLE 62 GREENHOUSES: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 126
TABLE 63 GREENHOUSES: GROW LIGHTS MARKET, BY WATTAGE, 2020-2023 (USD MILLION) 126
TABLE 64 GREENHOUSES: GROW LIGHTS MARKET, BY WATTAGE, 2024-2029 (USD MILLION) 126
TABLE 65 GREENHOUSES: GROW LIGHTS MARKET, BY OFFERING, 2020-2023 (USD MILLION) 126
TABLE 66 GREENHOUSES: GROW LIGHTS MARKET, BY OFFERING, 2024-2029 (USD MILLION) 126
13.3 VERTICAL FARMING 127
13.3.1 MAXIMIZING SPACE AND ENERGY EFFICIENCY TO DRIVE MARKET 127
TABLE 67 VERTICAL FARMING: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 127
TABLE 68 VERTICAL FARMING: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 128
TABLE 69 VERTICAL FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2020-2023 (USD MILLION) 128
TABLE 70 VERTICAL FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2024-2029 (USD MILLION) 128
TABLE 71 VERTICAL FARMING: GROW LIGHTS MARKET, BY OFFERING, 2020-2023 (USD MILLION) 128
TABLE 72 VERTICAL FARMING: GROW LIGHTS MARKET, BY OFFERING, 2024-2029 (USD MILLION) 128
13.4 INDOOR FARMING 129
13.4.1 AUGMENTING LIGHT, NUTRITION FOR HOUSEPLANTS, HASTENING GROWTH AND FLOWERING TO DRIVE MARKET 129
TABLE 73 INDOOR FARMING: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 129
TABLE 74 INDOOR FARMING: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 130
TABLE 75 INDOOR FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2020-2023 (USD MILLION) 130
TABLE 76 INDOOR FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2024-2029 (USD MILLION) 130
TABLE 77 INDOOR FARMING: GROW LIGHTS MARKET, BY OFFERING, 2020-2023 (USD MILLION) 130
TABLE 78 INDOOR FARMING: GROW LIGHTS MARKET, BY OFFERING, 2024-2029 (USD MILLION) 130
13.5 OTHER APPLICATIONS 131
TABLE 79 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 131
TABLE 80 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 132
TABLE 81 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY WATTAGE, 2020-2023 (USD MILLION) 132
TABLE 82 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY WATTAGE, 2024-2029 (USD MILLION) 132
TABLE 83 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY OFFERING, 2020-2023 (USD MILLION) 132
TABLE 84 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY OFFERING, 2024-2029 (USD MILLION) 133
14 GROW LIGHTS MARKET, BY REGION 134
14.1 INTRODUCTION 135
FIGURE 44 MARKET SEGMENTATION, BY REGION 135
FIGURE 45 ASIA PACIFIC GROW LIGHTS MARKET TO RECORD HIGHEST CAGR BETWEEN 2024 AND 2029 135
TABLE 85 GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 136
TABLE 86 GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 136
14.2 NORTH AMERICA 136
FIGURE 46 NORTH AMERICA: GROW LIGHTS MARKET SNAPSHOT 137
TABLE 87 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2020-2023 (USD MILLION) 138
TABLE 88 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2024-2029 (USD MILLION) 138
TABLE 89 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 138
TABLE 90 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 138
TABLE 91 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020-2023 (USD MILLION) 139
TABLE 92 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024-2029 (USD MILLION) 139
TABLE 93 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020-2023 (USD MILLION) 139
TABLE 94 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024-2029 (USD MILLION) 139
TABLE 95 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020-2023 (USD MILLION) 140
TABLE 96 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024-2029 (USD MILLION) 140
14.2.1 IMPACT OF RECESSION 140
14.2.2 US 140
14.2.2.1 Presence of major manufacturers to drive market 140
14.2.3 CANADA 141
14.2.3.1 Scarcity of natural light, unfavorable weather conditions, and relatively stable economy to drive market 141
14.2.4 MEXICO 142
14.2.4.1 Growth in protected agricultural activities in greenhouses to boost market 142
14.3 EUROPE 142
FIGURE 47 EUROPE: GROW LIGHTS MARKET SNAPSHOT 143
TABLE 97 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2020-2023 (USD MILLION) 143
TABLE 98 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2024-2029 (USD MILLION) 144
TABLE 99 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 144
TABLE 100 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 144
TABLE 101 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020-2023 (USD MILLION) 144
TABLE 102 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024-2029 (USD MILLION) 145
TABLE 103 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020-2023 (USD MILLION) 145
TABLE 104 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024-2029 (USD MILLION) 145
TABLE 105 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020-2023 (USD MILLION) 145
TABLE 106 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024-2029 (USD MILLION) 145
14.3.1 IMPACT OF RECESSION 146
14.3.2 UK 146
14.3.2.1 Adoption of technological advancements in indoor farming to drive market 146
14.3.3 GERMANY 147
14.3.3.1 Increasing demand for fresh food products to drive market 147
14.3.4 NETHERLANDS 147
14.3.4.1 Strong agricultural sector and highly advanced greenhouse industry to boost market 147
14.3.5 SCANDINAVIA 148
14.3.5.1 Need to reduce dependence on imports to drive market 148
14.3.6 REST OF EUROPE 149
14.4 ASIA PACIFIC 149
FIGURE 48 ASIA PACIFIC: GROW LIGHTS MARKET SNAPSHOT 150
TABLE 107 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2020-2023 (USD MILLION) 150
TABLE 108 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2024-2029 (USD MILLION) 151
TABLE 109 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 151
TABLE 110 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 151
TABLE 111 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020-2023 (USD MILLION) 151
TABLE 112 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024-2029 (USD MILLION) 152
TABLE 113 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020-2023 (USD MILLION) 152
TABLE 114 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024-2029 (USD MILLION) 152
TABLE 115 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020-2023 (USD MILLION) 152
TABLE 116 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024-2029 (USD MILLION) 153
14.4.1 IMPACT OF RECESSION 153
14.4.2 CHINA 153
14.4.2.1 Development of vertical farming infrastructure to propel market 153
14.4.3 JAPAN 154
14.4.3.1 Substantial shortage of arable land to drive market 154
14.4.4 SOUTHEAST ASIA 155
14.4.4.1 Challenges in conventional farming to drive market 155
14.4.5 AUSTRALIA 155
14.4.5.1 Growing awareness of advantages of artificial lighting to drive market 155
14.4.6 REST OF ASIA PACIFIC 156
14.5 ROW 156
FIGURE 49 MIDDLE EAST TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029 157
TABLE 117 ROW: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 157
TABLE 118 ROW: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 157
TABLE 119 ROW: GROW LIGHTS MARKET, BY APPLICATION, 2020-2023 (USD MILLION) 157
TABLE 120 ROW: GROW LIGHTS MARKET, BY APPLICATION, 2024-2029 (USD MILLION) 158
TABLE 121 ROW: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020-2023 (USD MILLION) 158
TABLE 122 ROW: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024-2029 (USD MILLION) 158
TABLE 123 ROW: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020-2023 (USD MILLION) 158
TABLE 124 ROW: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024-2029 (USD MILLION) 159
TABLE 125 ROW: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020-2023 (USD MILLION) 159
TABLE 126 ROW: GROW LIGHTS MARKET, BY LIGHTING TYPE,2024-2029 (USD MILLION) 159
14.5.1 IMPACT OF RECESSION 159
14.5.2 MIDDLE EAST 160
14.5.2.1 Optimizing crop production while minimizing water and land use to drive market 160
14.5.2.2 GCC Countries 160
14.5.2.2.1 Focus on reducing carbon emissions and improving energy efficiency to drive market 160
14.5.2.3 Rest of Middle East 160
TABLE 127 MIDDLE EAST: GROW LIGHTS MARKET, BY REGION, 2020-2023 (USD MILLION) 161
TABLE 128 MIDDLE EAST: GROW LIGHTS MARKET, BY REGION, 2024-2029 (USD MILLION) 161
14.5.3 SOUTH AMERICA 161
14.5.3.1 Mitigating effects of extreme weather, deforestation, water pollution, and soil degradation to drive market 161
14.5.4 AFRICA 162
14.5.4.1 Enhancing productivity and plant development amid unfavorable weather conditions to drive market 162
15 COMPETITIVE LANDSCAPE 163
15.1 OVERVIEW 163
15.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2023-2024 163
TABLE 129 GROW LIGHTS MARKET: KEY STRATEGIES ADOPTED BY LEADING PLAYERS, JUNE 2023-MAY 2024 163
15.3 REVENUE ANALYSIS, 2019-2023 164
FIGURE 50 GROW LIGHTS MARKET: REVENUE ANALYSIS OF KEY COMPANIES, 2019-2023 164
15.4 MARKET SHARE ANALYSIS, 2023 165
TABLE 130 GROW LIGHTS MARKET: DEGREE OF COMPETITION 165
FIGURE 51 GROW LIGHTS MARKET SHARE ANALYSIS, 2023 165
15.5 COMPANY VALUATION AND FINANCIAL METRICS 167
15.5.1 COMPANY VALUATION 167
FIGURE 52 GROW LIGHTS MARKET: COMPANY VALUATION, 2024 167
15.5.2 FINANCIAL METRICS 168
FIGURE 53 GROW LIGHTS MARKET: FINANCIAL METRICS, 2023 168
15.6 BRAND/PRODUCT COMPARISON 168
15.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 169
FIGURE 54 GROW LIGHTS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 169
15.7.1 STARS 169
15.7.2 EMERGING LEADERS 170
15.7.3 PERVASIVE PLAYERS 170
15.7.4 PARTICIPANTS 170
15.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 170
15.7.5.1 Company footprint 170
FIGURE 55 GROW LIGHTS MARKET: COMPANY FOOTPRINT 170
15.7.5.2 Region footprint 171
TABLE 131 REGION: COMPANY FOOTPRINT (12 COMPANIES) 171
15.7.5.3 Offering footprint 171
TABLE 132 OFFERING: COMPANY FOOTPRINT (12 COMPANIES) 171
15.7.5.4 Wattage footprint 172
TABLE 133 WATTAGE: COMPANY FOOTPRINT (12 COMPANIES) 172
15.7.5.5 Spectrum footprint 172
TABLE 134 SPECTRUM: COMPANY FOOTPRINT (12 COMPANIES) 172
15.7.5.6 Cultivated plant footprint 173
TABLE 135 CULTIVATED PLANT: COMPANY FOOTPRINT (12 COMPANIES) 173
15.7.5.7 Installation type footprint 173
TABLE 136 INSTALLATION TYPE: COMPANY FOOTPRINT (12 COMPANIES) 173
15.7.5.8 Lighting type footprint 174
TABLE 137 LIGHTING TYPE: COMPANY FOOTPRINT (12 COMPANIES) 174
15.7.5.9 Sales channel footprint 174
TABLE 138 SALES CHANNEL: COMPANY FOOTPRINT (12 COMPANIES) 174
15.7.5.10 Application footprint 175
TABLE 139 APPLICATION: COMPANY FOOTPRINT (12 COMPANIES) 175
15.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 175
FIGURE 56 GROW LIGHTS MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 176
15.8.1 PROGRESSIVE COMPANIES 176
15.8.2 RESPONSIVE COMPANIES 176
15.8.3 DYNAMIC COMPANIES 177
15.8.4 STARTING BLOCKS 177
15.8.5 COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023 177
15.8.5.1 Detailed list of startups/SMEs 177
TABLE 140 GROW LIGHTS MARKET: KEY STARTUPS/SMES 177
15.8.5.2 Competitive benchmarking of key startups/SMEs 178
TABLE 141 GROW LIGHTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 178
15.9 COMPETITIVE SCENARIO AND TRENDS 179
15.9.1 PRODUCT LAUNCHES 179
TABLE 142 GROW LIGHTS MARKET: PRODUCT LAUNCHES, JANUARY 2020-MAY 2024 179
15.9.2 DEALS 181
TABLE 143 GROW LIGHTS MARKET: DEALS, JANUARY 2020-MAY 2024 181
16 COMPANY PROFILES 185
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
16.1 INTRODUCTION 185
16.2 KEY PLAYERS 185
16.2.1 SIGNIFY HOLDING 185
TABLE 144 SIGNIFY HOLDING: COMPANY OVERVIEW 186
FIGURE 57 SIGNIFY HOLDING: COMPANY SNAPSHOT 187
TABLE 145 SIGNIFY HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED 187
TABLE 146 SIGNIFY HOLDING: PRODUCT LAUNCHES, JANUARY 2020-MAY 2024 189
TABLE 147 SIGNIFY HOLDING: DEALS, JANUARY 2020-MAY 2024 190
16.2.2 GAVITA INTERNATIONAL B.V. 193
TABLE 148 GAVITA INTERNATIONAL B.V.: COMPANY OVERVIEW 193
TABLE 149 GAVITA INTERNATIONAL B.V.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 193
16.2.3 HELIOSPECTRA 195
TABLE 150 HELIOSPECTRA: COMPANY OVERVIEW 195
FIGURE 58 HELIOSPECTRA: COMPANY SNAPSHOT 195
TABLE 151 HELIOSPECTRA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 152 HELIOSPECTRA: PRODUCT LAUNCHES, JANUARY 2020-MAY 2024 197
TABLE 153 HELIOSPECTRA: DEALS, JANUARY 2020-MAY 2024 198
16.2.4 AMS-OSRAM AG 200
TABLE 154 AMS-OSRAM AG: COMPANY OVERVIEW 200
FIGURE 59 AMS-OSRAM AG: COMPANY SNAPSHOT 201
TABLE 155 AMS-OSRAM AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 201
TABLE 156 AMS-OSRAM AG: PRODUCT LAUNCHES, JANUARY 2020-MAY 2024 202
TABLE 157 AMS-OSRAM AG: DEALS, JANUARY 2020-MAY 2024 203
16.2.5 CALIFORNIA LIGHTWORKS 204
TABLE 158 CALIFORNIA LIGHTWORKS: COMPANY OVERVIEW 204
TABLE 159 CALIFORNIA LIGHTWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 204
TABLE 160 CALIFORNIA LIGHTWORKS: PRODUCT LAUNCHES, JANUARY 2020-MAY 2024 205
TABLE 161 CALIFORNIA LIGHTWORKS: DEALS, JANUARY 2020-MAY 2024 206
16.2.6 LEDVANCE GMBH 207
TABLE 162 LEDVANCE GMBH: COMPANY OVERVIEW 207
TABLE 163 LEDVANCE GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
16.2.7 HORTILUX SCHREDER 209
TABLE 164 HORTILUX SCHREDER: COMPANY OVERVIEW 209
TABLE 165 HORTILUX SCHREDER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 209
TABLE 166 HORTILUX SCHREDER: PRODUCT LAUNCHES, JANUARY 2020-MAY 2024 210
TABLE 167 HORTILUX SCHREDER: DEALS, JANUARY 2020-MAY 2024 210
16.2.8 VALOYA 211
TABLE 168 VALOYA: COMPANY OVERVIEW 211
TABLE 169 VALOYA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 211
TABLE 170 VALOYA: PRODUCT LAUNCHES, JANUARY 2020-MAY 2024 212
TABLE 171 VALOYA: DEALS, JANUARY 2020-MAY 2024 213
16.2.9 ILUMINAR LIGHTING LLC. 214
TABLE 172 ILUMINAR LIGHTING LLC.: COMPANY OVERVIEW 214
TABLE 173 ILUMINAR LIGHTING LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 214
16.2.10 SAVANT TECHNOLOGIES LLC 215
TABLE 174 SAVANT TECHNOLOGIES LLC: COMPANY OVERVIEW 215
TABLE 175 SAVANT TECHNOLOGIES LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
TABLE 176 SAVANT TECHNOLOGIES LLC.: DEALS, JANUARY 2020-MAY 2024 216
16.3 OTHER PLAYERS 217
16.3.1 ECONOLUX INDUSTRIES LTD. 217
16.3.2 LEMNIS OREON B.V. 218
16.3.3 HYPERION GROW LIGHTS 219
16.3.4 SANANBIO 220
16.3.5 DONGGUAN LEDESTAR OPTO-ELECTRONICS TECH. CO., LTD. 221
16.3.6 VIPARSPECTRA 222
16.3.7 KIND LED GROW LIGHTS 223
16.3.8 BLACK DOG HORTICULTURE TECHNOLOGIES & CONSULTING 223
16.3.9 AGROLUX B.V. 224
16.3.10 SOLLUM TECHNOLOGIES 224
16.3.11 MARS HYDRO 225
16.3.12 BIOLOGICAL INNOVATION AND OPTIMIZATION SYSTEMS, LLC 226
16.3.13 EVERLIGHT ELECTRONICS CO., LTD. 227
16.3.14 NICHIA CORPORATION 228
16.3.15 THRIVE AGRITECH 229
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
17 APPENDIX 230
17.1 INSIGHTS OF INDUSTRY EXPERTS 230
17.2 DISCUSSION GUIDE 230
17.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 234
17.4 CUSTOMIZATION OPTIONS 236
17.5 RELATED REPORTS 236
17.6 AUTHOR DETAILS 237
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