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This report provides actionable and valuable market insights for LED Grow Light. The latest report from Fact.MR provides details on the current market scenario in different regions along with historical data and forecasts of the market. The report also includes information on sales and demand for LED Grow Light Market across various industries and regions.
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The global LED Grow Light market is projected to grow at an impressive CAGR of 8.2%. It is expected to be valued at nearly $11.4 billion in 2032 from $5.2 billion in 2022 .
|data score||market insight|
|Light Market Size Growth (2022)||US $5.2 billion|
|Estimated market value (in 2025)||$6.6 billion|
|Estimated Market Value (2032)||$11.4 billion|
|Global Market Growth Rate (2022-2032)||8.2% CAGR|
Market research conducted by Fact.MR provides exclusive information on how the market will grow. The study identifies important trends determining the growth of the growing lighting market. This newly published report sheds light on important dynamics such as drivers, restraints and opportunities for key market players and emerging players involved in production and supply. The latest report from Fact.MR provides a detailed market analysis of LED Grow Light.
This newly published and insightful report sheds light on the Market Insights of LED Grow Light, its key dynamics, its impact on the entire value chain from suppliers to end users, and the growth of the LED Grow Light Market .
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- By component:
- hardware based
- IP Desktop Phone
- audio conference phone
- DECT phone
- soft phone
- hardware based
- By technology:
- Fluorescent lamp
- High Intensity Discharge (HID)
- By application:
- indoor agriculture
- vertical farming
- End use:
- health care
- By region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
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How strong is the competitive landscape of the Global Growth Lighting Market?
In addition to developing new efficient devices and methods for a growing major player dealing with indoor plant lighting, it has expanded its presence through mergers and acquisitions. Germany’s leading company Fluence Bioengineering Inc., for example, partnered with Lamphouse in September 2020. And in March 2020, Signify acquired a stake in Cooper lighting Solutions in the US.
Large market players in emerging economies are trying to acquire contracts to supply year-round growth bulbs and services to supply government-funded plant growers. This strategy is a key path breaker for the retail market to generate higher revenue in the sales of growth lights for the plant market.
What are the recent developments achieved by the global Growth Lighting market players?
- Fluence Bioengineering Inc. By OSRAM launched a new model of the VYPR Top Light series in June 2020 . The new product now includes four more spectra in the series, increasing the efficiency to 3.8 micromoles per joule and allowing growers to optimize plant light based on requirements and geographic location.
- Valoya has expanded its RX series grow lights for indoor plants by adding two new models in September 2020 . Named RX500 and RX600, these new models can generate uniform light up to 1700 micromoles per second, replacing 1:1 HPS.
- Heliospectra AB launched a new LED lighting solution with the Mitra series at GreenTech in May 2019 . We also introduced led lighting solutions based on vertical agricultural applications under the name of SIERA light bar and HelioCORE lighting control system.
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Key Questions Answered in LED Grow Light Market Report Survey:
- LED Grow Light Sales and Demand
- Growth of LED Grow Light Market
- LED Grow Light’s Market Analysis
- LED Grow Light’s Market Insights
- Key drivers influencing the growth lighting market
- Which are the key drivers impacted by the growth lighting market?
- limiting market growth
- LED Grow Light’s Market Research
A more valuable insight into the growth of the light market
Fact.MR provides unbiased market analysis of LED Grow Light, sales and demand by analyzing forecast statistics for 2019 and beyond in a new report. This study presents growth prospects based on various criteria.
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