Horticulture Lighting Market: Introduction

An increasing awareness about the concept of sustainability is witnessed across the globe. Owing to this awareness, increasing initiatives are correspondingly being taken by various organizations, researchers, government etc. globally. One such sustainable technological advancement witnessed in the agriculture industry is the introduction of horticulture lighting market.

Horticulture lighting, by tuning the light according to the required need and by utilizing the unique properties of LED lighting, assists in boosting yields and maintaining plant health, throughout the year. By offering a varied ratio between deep blue, hyper red and far red of LED lighting, a horticulture lighting arrangement is established. Some of the key applications of horticulture lighting include controlled urban farming, Supplemental lighting and cultivation without natural daylight, multilayer cultivation, etc.

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Horticulture lighting market is a comparatively new concept, and thus, has witnessed a limited traction since the past four years, in terms of value. However, owing to the advantages associated with horticulture lighting system, a continuous demand for the same has been witnessed since its inception. The market for horticulture lighting is further expected to witness a significantly high growth rate during the forecast period as well.

Horticulture Lighting Market: Market Dynamics

Owing to the increasing initiatives taken by the government, across various developed and developing countries such as the U.S., the U.K., India, China etc. to support sustainability, complimented by the increasing awareness about the same, an increasing adoption of horticulture lighting system is expected during the forecast period. This, as a result, is expected to be the primary driving factor for the global horticulture lighting market. In addition to this, the advanced features and advantages associated with the implementation of horticulture lighting market is also expected to be a factor impelling the demand of horticulture lighting system.

However, due to lack of awareness about the concept of horticulture lighting market amongst various developing and under developed countries acts as a restraining factor for the global horticulture lighting market.

Horticulture Lighting Market: Segmentation

Global Horticulture Lighting market can be segmented on the basis of component, application area, environment and region.

Segmentation for Horticulture Lighting market by application area:

On the basis of application area or rather crop type, the horticulture lighting market can be segmented as:

Greenhouses
Vertical Farming
Intra-canopy
Others

Segmentation for Horticulture Lighting market by environment:

On the basis of environment or rather crop type, the horticulture lighting market can be segmented as:

Vegetables and Fruits
Floriculture
City Farming
Others

Segmentation for Horticulture Lighting market by component:

On the basis of component, the horticulture lighting market can be segmented as:

Hardware
Software
Services

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Horticulture Lighting Market: Key Players

Some of the key players in the Horticulture Lighting market are Philips NV, OSRAM Opto Semiconductors GmbH, General Electric, Cree, Inc., Illumitex, Edison Opto, LEDiL, Active Grow LLC, FUTURELED GmbH, Lumigrow, and various others.