LED Farming Market Is Expected To Reach 4 Billion USD at 26.93% of CAGR – Global Industry Analysis and Forecast To 2023
The LED Farming Market include growth in indoor farming practices, greater yield, demand in the gardening and floriculture industry favoring the growth of the LED farming market. It can be easily programmed and integrated into the controlled environment, agriculture setup within a greenhouse.
October 23, 2017 /MarketersMedia/ —
The Global LED Farming Market is anticipated to grow to more than USD 4 Billion by 2020, growing at a (CAGR) of 26.93% between 2017 and 2023. This research study segments the LED farming market on the basis of different range of wavelength, crop type, applications, and geographies. The LED light is an emerging technology with high growth potential in several applications including, indoor farming, commercial greenhouse, vertical farming, turf and landscaping, and research among other applications.
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Good quality led can be very costly for growers and requirements of different light spectrums for different crops are the restraints faced by this market. However, there is a scope of opportunity due to demand of urban agriculture, customization specific intensity and wavelength and increase in the number of vertical farming methods will boost this market.
Vertical farming is the fastest growing application, whereas commercial greenhouse holds the biggest percentage among all applications for the LED market. LEDs consume 50% and 85% lesser electricity than fluorescent lamps and incandescent lights, respectively. Hence, due to these benefits, the market is increasing in urban agriculture.
The Major Players in LED Farming industry are, Cree, Fluence Bioengineering, Heliospectra, Hubbell Lighting, Illumitex, Royal Philips Electronics N.V, Lemnis Oreon, Umigrow, Gavita Holland, Hortilux Schreder and many more.
Complete report on LED Farming Market spread across 127 pages, profiling 11 companies and supported with tables and figures. Inquire for more at https://www.orianresearch.com/enquiry-before-buying/398478.
The LED farming is costly compared to other grow light technology. Lack of standardization and high cost of horticulture farm construction makes usage of LED was restricted to the application where urban farming is done on a large scale. The governments of developing countries and regions such as the U.S. and Europe have been strictly banned used incandescent bulbs and holding up the adoption of efficient and eco-friendly technologies.
Based on wavelength it is classified into red light 450-495nm which helps in promoting vegetation, red light 620-700nm helps in promoting flowering and far red wavelength 700-750nm promote Emerson effect.
This trend is being seen more in Europe and the North America, whereas the APAC region is showing the highest growth in the use of LED grow light in urban farming. Also, the Rest of the World (RoW) region, especially in the Middle East, a commercial greenhouse trend has increased, which is ultimately driving the LED farming business.
Key Benefit For This Report:
• The Global LED Farming Market provides current market trends and future growth expectations.
• This report examines the market size and changing competitive dynamics
• It covers information regarding key drivers, challenges or restraining market growth
• It provides a five-year forecast assessed on the basis market value chain, Porter’s five forces, and supply chain management.
• Market factor analysis delivers treasured information regarding the possible purchasers and suppliers and understanding the stakeholders involved.
• This report incorporates data regarding companies and business decision by having complete insights on the markets and by creating in depth analysis of market segments.
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Target Audience:
• Manufacturers of LED Materials
• Traders, Distributors, and Suppliers of LED Materials
• Regional Manufacturers? Associations
• Government and Research Organizations
• Investment Research Firms
• Manufacturers of Sensors, Control Systems, and Related Accessories
• Lighting Industry Standard Organizations and Regulatory Authorities
• Research Institutes and Organizations
• Associations of Lighting
Table of Content
1 Executive Summary
2 Demographic Overview
3 Research Methodology
4 Premium Insights
5 Market Overview
6 Market Factor Analysis
7 Global LED Farming Market By Wave Length
8 Global LED Farming Market By Application
9 Global LED Farming Market By Crop
10 Global LED Farming Market By Region
11 Market Trends & Competitive Analysis
12 Company Profiles
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