Horticulture lights function as a replacement for sunlight as the catalyst in the plant growth. Horticulture lighting is an artificial source of light that is used for the process of photosynthesis. These lights are useful in areas where there is lack of sunlight, thereby ensure natural growth of plants and flowers even with insufficient sunlight received.
Increasing government initiatives and investments to promote horticulture farming, adoption of indoor and vertical farming, and availability of limited agricultural land is anticipated to drive the horticulture lighting market. However, the high cost of energy-efficient light and lack of knowledge about the type of light to be used for certain crops would hinder the growth of horticulture lighting market. The advanced features and advantages associated with the implementation horticulture light will provide opportunities to the players operating in the horticulture lighting market.
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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.
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.
The research methodology used to estimate and forecast the global horticulture lighting market begins with obtaining data on key vendor revenues through secondary research. Some of the secondary sources used in this research include various journals and databases such as the International Artificial Grow Light Association (IAGLA), the Association for Vertical Farming, the Japan Plant Factory Association, the International Society for Horticultural Science (ISHS), IEEE journals, Factiva, Hoovers, and OneSource. Multiple on-field discussions have been conducted with key opinion leaders across each major company involved in the development of horticulture lighting for various applications in different regions to understanding the demand for horticulture lighting products in various regions. Then, the overall shipment of horticulture lighting solutions has been calculated based on the technology (fluorescent, HID, LED, and others). The average selling price was then calculated based on diverse types of horticulture lighting products.
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.
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