Grow Light Market By Offering, (Hardware, Software & Services) By Wattage (<300 Watts, >=300 Watts) By Spectrum, By Cultivated Plant, By Installation Type, By Sales Channel, By Application, By Region - Industry Forecast 2024-2031


Report ID: SQMIG55A2048 | Region: Global | Published Date: November, 2024
Pages: 182 |Tables: 221 |Figures: 81

Grow Light Market Insights

Grow Light Market size was valued at USD 4.9 Billion in 2022 and is poised to grow from USD 5.68 Billion in 2023 to USD 18.49 Billion by 2031, at a CAGR of 15.9% during the forecast period (2024-2031). 

The grow light market is experiencing enormous growth as there is a rising need for indoor farming solutions, this is because sunlight availability is limited in urban areas. Technological advancements in plant factories and the increasing shift towards vertical farming are the primary drivers of this market. On the other hand, fresh produce, beautiful flowers, and fresh smelling herbs are demanded all year around and due to e-commerce, these products can easily be obtained. Also, there are many types of grow lights like compact fluorescent lights, T5, T8, T12 tubes, LED full spectrum, LED standard, Metal Halide, High-Pressure Sodium and Ceramic Metal Halide. Each type has its pluses, ranging from energy conservation and durability to emitting the appropriate spectrum for different growth stages. Fluorescent lights are very suitable for growing seedlings and growing lettuce, while LED lights are the most suitable for their ability to change spectra, allowing for the development from seedling to flowering. Nevertheless, key impediments to market expansion include the big capital investments required to set up indoor farms and the relatively small number of crops that can be grown in the environment. Nevertheless, these challenges are expected to be overcome by improvements in the technology used in growing lights and increased adoption of organic farming systems soon.

Market Snapshot - 2024-2031

Global Market Size

USD 4.9 Billion

Largest Segment

By System

Fastest Growth

By System

Growth Rate

15.9%

Global Grow Light Market ($ Bn)
Country Share for North America Region (%)

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Grow Light Market Segmental Analysis

Global Grow Light Market is segmented By Offering, By Wattage, By Spectrum, By Cultivated Plant, By Installation Type, By  Sales Channel, By Application and by Region. Based on Offering, the market is segmented into (Hardware, Software & Services). Based on Wattage, the market is segmented into (<300 Watts, >=300 Watts) Based on Spectrum, the market is segmented into Full Spectrum, Limited Spectrum. Based on Cultivated Plant, the market is segmented into Fruits & Vegetables, Flowers, Cannabis. Based on Installation Type, the market is segmented into New Installations, Retrofit Installations. Based on Sales Channel, the market is segmented into Distribution Channels, E-Commerce Channels, Direct Sales Channels. Based on Application, the market is segmented into Greenhouses, Vertical Farming, Indoor Farming, Other Applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.  

Analysis by System

In 2023, the hardware segment commanded approximately 78% of the grow light market, a dominance expected to persist throughout the forecast period. This segment incorporates different grow lights such as LED lights, plasma lights, high-intensity discharge lights, and ballasts. The superiority of the hardware sector stems from the fact that it provides a significant component of the entire and efficient grow light system. Cultivators pay a lot of attention when it comes to selecting high-quality and efficient hardware parts to provide appropriate lighting for the plants. The increase in demand for long-lasting and energy-efficient luminaries along with increasingly complex control systems, therefore, underlines the hardware segment’s structural and significant role within the grow light market. This trend also emphasizes the role of resilient and progressive hardware to cater for the growing demands of contemporary farming.

The software and services segment is rapidly emerging as the fastest-growing sector. This increase is attributed to the growing use of intelligent and integrated grow light systems. Currently, there is a trend where contemporary cultivators use software solutions and services to monitor, to analyze and to control with high precision the lighting conditions. Internet of Things technology and software-driven operational options improve productivity and tailor the farming process, thus benefiting the growers. While the need for innovative smart grow light solutions increases, both software and services are steadily growing segments that help to progress the sophistication of controlled environment agriculture. This trend has underscored the significance of digital technologies in transforming horticultural practices in the modern world.

Analysis by Product

In 2023, the grow light market's <300 Watt segment has ascended to dominance due to a confluence of pivotal factors. Mainly, it is important to notice that lower wattage systems are considered energy-saving, which means the operational expenses would be minimal for an amateur grower and for any commercial plant growing business. However, some potential users may be put off by their relatively small size and low heat production making them suitable for small scaled indoor farming and gardening for instance in urban areas. In addition to the above features, the tolerance of <300 Watt lights to different plant species and stages of development without subjecting the plants to extremely high light intensity levels increases the option’s desirability. Secondly, consumers have been motivated to seek out and embrace products employing less wattage due to the growing global awareness and push towards sustainability and ‘green’ or environmentally friendly solutions.

The grow light market's >=300 Watt segment emerges as the fastest-growing sector, due to several influential factors. Many commercial growers and companies dealing with agricultural production prefer >300 Watt lights because many a times, large areas may require lighting and these lamps are advantageous in covering large spaces in the shortest time and time is saved and productivity increased. Also, advanced technologies of the lighting industry have enhanced the creation of high energy efficient products in this sector that provides improved proficiency and durability. The growing interest in high-output lighting is strongly associated with the contemporary trend in vertical farming and industrial greenhouse farming. Moreover, flexibility of >300 Watt lighting equipment for various crops and their needs, enabling one equipment to serve various purposes, is also a factor of the fast growing market, making this segment also set a promising future.

Global Grow Light Market Market By System ($ Bn)

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Grow Light Market Regional Insights

In the global grow light market, North America emerges as the dominant region in 2023, driven by its cutting-edge technological infrastructure and substantial investments in research and development. Based on SkyQuest's in-depth analysis, the statistics show that 70-80% of customers remain loyal to products that are made in USA and are willing to pay up to 20% more price for the products. This trend corresponds to the trend in the growing market of indoor farming due to local production, fresh, healthy foods, which do not get adversely affected by weather conditions or replaced by supply chain delays. The attitudes developed in the region towards agricultural evolution and liberalization of numerous innovations, including cannabis cultivation for medicinal as well as recreational use, has boosted market growth. Having several key players in this area also strengthens it as they enable faster incorporation of modern grow light systems within multiple agriculture industries.

Following closely, Europe secures its position as the fastest leading region, underpinned by robust government policies advocating sustainable agricultural practices and the burgeoning trend of indoor farming. Based on our analysis, the LED grow lights market in Europe being estimated to continue to grow and is projected to reach USD 1. 2 billion by 2026. Its determination to substitute the defunct over-used environmental practices for smarter environment conservation regimes and the constant yearning for locally produced, organic and fresh produce has boosted the development of innovative grow light technologies. Leading the charge is the European region, with nations such as the Netherlands, Germany, the United Kingdom, amongst others, contributing and enhancing its dominance within the market and its consequent growth into a continuous direction.

Global Grow Light Market By Region
  • Largest
  • Fastest

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Grow Light Market Dynamics

Drivers

Increasing Demand for Indoor Agriculture

  • The increasing rate in urbanization together with the increasing quest for efficient production of crops and vegetables through controlled environmental conditions is influencing the adoption of indoor agriculture systems. For instance, in this domain, CFL fluorescent growing lamps are commonly used for cultivating leafy vegetables and herbs. These fluorescent lamps work by driving electric current through the gas contained within the tubes producing light. Another appeal is their outstanding efficiency which ranges from 20 to 30 percent less power utilization than the normal incandescent bulbs besides having a long-life span.

Technological Advancements in Grow Light Solutions

  • Continuous innovation in grow light technology, contributed to market growth include product development in grow light technology and for instance; energy efficient LED grow light, and other intelligent or smart LED grow light. Such technologies increase crop productivity, make energy efficient, and provide specific lighting to various phases of plant development to propel demand for the market.

Restraints

Ensuring Optimal Light Conditions

  • Maintaining the correct level and wavelength of light, as well as the correct exposure time, is not easy even for Industrial Scale Vertical farming. The issue of light can also suffer from changes in environmental conditions that include temperature and humidity which can have negative effects on plant growth. Solving these issues requires the use of sophisticated control systems and considerable know-how in the management of the lighting systems which could present difficulties for some of the growers particularly those growing in limited resource indoor farms.

High Cost of Installation Expenses

  • The initial costs of acquiring LED grow lights may be quite expensive and may hinder market growth. For instance, though LED lights have advantages such as energy use and longevity, the startup costs are considerably higher than HPS lights. Setting up an LED system can cost anywhere between two to three times the amount needed for procuring a similar HPS setup which can be difficult for small growers and hobbyists. For instance, High-powered LED grow lights starting from USD 500 become commercial indoor cultivation. Advanced full-spectrum models that cost at least USD 2,000 are designed for sophisticated growers who want to get the best results and flexibility.

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Grow Light Market Competitive Landscape

Market leaders in the grow light market are making use of strategic moves like alliances and innovative products to increase their market share. Also, companies have been acquiring competitors’ firms in a bid to consolidate their market position. For example, Crop One Holdings cooperated with Emirates Flight Catering to create Emirates Crop One (ECO 1), the world’s largest vertical farm located in Dubai that covers approximately 330,000 square feet, which is around the size of Lincoln Memorial Reflecting Pool. The technological advancements driven by Signify and Everlight has led to the development of smart and connected systems that encourage innovation within the grow lights sector. Industry players are focusing on large scale deployment; hence they are actively looking for mergers, partnerships or acquisitions to improve technical capabilities as well as meet growing demand for LED and greenhouse lights from indoor farming and vertical farming sectors.

Top Player’s Company Profiles

  • Signify Holding  
  • Gavita International B.V. (Hawthorne) 
  • Heliospectra  
  • ams-OSRAM AG  
  • California LightWorks  
  • Hortilux Schréder  
  • Valoya  
  • ILUMINAR Lighting LLC.  
  • SAVANT TECHNOLOGIES LLC.  
  • Ushio Inc.  
  • EconoLux Industries Ltd.  
  • LEDVANCE GmbH  
  • Lemnis Oreon B.V.  
  • Hyperion Grow Lights  
  • Sananbio  
  • Dongguan LEDESTAR Opto-electronics Tech. Co., Ltd.  
  • ViparSpectra  
  • Kind LED Grow Lights  
  • Black Dog Horticulture Technologies & Consulting  
  • Agrolux B.V.

Recent Developments

  • In May 2024, Heliospectra unveiled the 1500W MITRA X LED light, boasting 5700µmol output, wide beam optics, and 3.7 efficacy. Covering an 8m trellis with just 2 lights, it reduces costs for growers while optimizing taste and yield. The platform emphasizes modularity and versatility, catering to diverse environments and crops.
  • In February 2024, Signify Holding has expanded its Philips GreenPower LED grid lighting range to meet the growing demand in indoor cannabis cultivation. The new offerings feature spectral options optimized for cannabis production, including two cannabis-specific spectra: an efficient white spectrum for vegetative stage development and a broad white spectrum for flowering stages at ~3.0 μmol/J.
  • In June 2023, ams-OSRAM AG unveiled its 5th-generation OSLON Square Hyper Red horticulture LED, designed to expedite plant growth while optimizing system expenses. This latest iteration boasts enhanced photosynthetic photon flux (PPF) and efficacy compared to its predecessor, the Hyper Red 660 nm LEDs. The versatile OSLON Square Hyper Red LED caters to a range of horticultural lighting needs, spanning greenhouse toplighting, interlighting, sole source lighting, and vertical farming applications.

Grow Light Key Market Trends

  • Increasing Preference for Eco-Friendly Grow Light Solutions: Innovations in smart lighting technologies are revolutionizing indoor farming practices. With features like remote monitoring, data analytics, and precise light control, growers can optimize crop growth and maximize yields. This trend reflects a growing demand for efficiency and customization in the agricultural sector, driving the adoption of intelligent lighting solutions. By harnessing the power of smart lighting, farmers can enhance productivity, reduce operational costs, and contribute to sustainable food production practices.

Grow Light Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, the Grow Light Market is optimistic, driven by several key factors. The market is experiencing robust growth propelled by the increasing adoption of indoor and vertical farming practices worldwide. Factors such as rising urbanization, the demand for sustainable agriculture, and advancements in smart lighting technologies are fueling this growth trajectory. Additionally, the emergence of innovative solutions, such as LED grow lights and greenhouse lighting, is catering to the evolving needs of growers seeking efficiency and productivity. With significant investments in research and development and strategic collaborations among industry players, the market is poised for further expansion. Considering these dynamics, there are several exploring opportunities in the grow light sector, seeking to capitalize on the burgeoning demand for sustainable and efficient farming solutions.

Report Metric Details
Market size value in 2022 USD 4.9 Billion
Market size value in 2031 USD 18.49 Billion
Growth Rate 15.9%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Offering
    • Hardware, Software & Services
  • Wattage
    • <300 Watts, >=300 Watts
  • Spectrum
    • Full Spectrum, Limited Spectrum
  • Cultivated Plant
    • Fruits & Vegetables, Flowers, Cannabis
  • Installation Type
    • New Installations, Retrofit Installations
  • Sales Channel
    • Distribution Channels, E-Commerce Channels, Direct Sales Channels
  • Application
    • Greenhouses, Vertical Farming, Indoor Farming, Other Applications
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Signify Holding  
  • Gavita International B.V. (Hawthorne) 
  • Heliospectra  
  • ams-OSRAM AG  
  • California LightWorks  
  • Hortilux Schréder  
  • Valoya  
  • ILUMINAR Lighting LLC.  
  • SAVANT TECHNOLOGIES LLC.  
  • Ushio Inc.  
  • EconoLux Industries Ltd.  
  • LEDVANCE GmbH  
  • Lemnis Oreon B.V.  
  • Hyperion Grow Lights  
  • Sananbio  
  • Dongguan LEDESTAR Opto-electronics Tech. Co., Ltd.  
  • ViparSpectra  
  • Kind LED Grow Lights  
  • Black Dog Horticulture Technologies & Consulting  
  • Agrolux B.V.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Grow Light Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Grow Light Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Grow Light Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Grow Light Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Grow Light Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Grow Light Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Grow Light Market size was valued at USD 4.9 Billion in 2022 and is poised to grow from USD 5.68 Billion in 2023 to USD 18.49 Billion by 2031, at a CAGR of 15.9% during the forecast period (2024-2031). 

Market leaders in the grow light market are making use of strategic moves like alliances and innovative products to increase their market share. Also, companies have been acquiring competitors’ firms in a bid to consolidate their market position. For example, Crop One Holdings cooperated with Emirates Flight Catering to create Emirates Crop One (ECO 1), the world’s largest vertical farm located in Dubai that covers approximately 330,000 square feet, which is around the size of Lincoln Memorial Reflecting Pool. The technological advancements driven by Signify and Everlight has led to the development of smart and connected systems that encourage innovation within the grow lights sector. Industry players are focusing on large scale deployment; hence they are actively looking for mergers, partnerships or acquisitions to improve technical capabilities as well as meet growing demand for LED and greenhouse lights from indoor farming and vertical farming sectors. 'Signify Holding  ', 'Gavita International B.V. (Hawthorne) ', 'Heliospectra  ', 'ams-OSRAM AG  ', 'California LightWorks  ', 'Hortilux Schréder  ', 'Valoya  ', 'ILUMINAR Lighting LLC.  ', 'SAVANT TECHNOLOGIES LLC.  ', 'Ushio Inc.  ', 'EconoLux Industries Ltd.  ', 'LEDVANCE GmbH  ', 'Lemnis Oreon B.V.  ', 'Hyperion Grow Lights  ', 'Sananbio  ', 'Dongguan LEDESTAR Opto-electronics Tech. Co., Ltd.  ', 'ViparSpectra  ', 'Kind LED Grow Lights  ', 'Black Dog Horticulture Technologies & Consulting  ', 'Agrolux B.V.'

The increasing rate in urbanization together with the increasing quest for efficient production of crops and vegetables through controlled environmental conditions is influencing the adoption of indoor agriculture systems. For instance, in this domain, CFL fluorescent growing lamps are commonly used for cultivating leafy vegetables and herbs. These fluorescent lamps work by driving electric current through the gas contained within the tubes producing light. Another appeal is their outstanding efficiency which ranges from 20 to 30 percent less power utilization than the normal incandescent bulbs besides having a long-life span.

Increasing Preference for Eco-Friendly Grow Light Solutions: Innovations in smart lighting technologies are revolutionizing indoor farming practices. With features like remote monitoring, data analytics, and precise light control, growers can optimize crop growth and maximize yields. This trend reflects a growing demand for efficiency and customization in the agricultural sector, driving the adoption of intelligent lighting solutions. By harnessing the power of smart lighting, farmers can enhance productivity, reduce operational costs, and contribute to sustainable food production practices.

In the global grow light market, North America emerges as the dominant region in 2023, driven by its cutting-edge technological infrastructure and substantial investments in research and development. Based on SkyQuest's in-depth analysis, the statistics show that 70-80% of customers remain loyal to products that are made in USA and are willing to pay up to 20% more price for the products. This trend corresponds to the trend in the growing market of indoor farming due to local production, fresh, healthy foods, which do not get adversely affected by weather conditions or replaced by supply chain delays. The attitudes developed in the region towards agricultural evolution and liberalization of numerous innovations, including cannabis cultivation for medicinal as well as recreational use, has boosted market growth. Having several key players in this area also strengthens it as they enable faster incorporation of modern grow light systems within multiple agriculture industries.

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