Growth Opportunities in the Global Grow Light Market, 2020-2025 - Development of Smart Grow Lights Integrated with IoT Drives Growth

DUBLIN, April 14, 2020 /PRNewswire/ -- The "Grow Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to's offering.

The global grow light market reached a value of US$ 3.65 Billion in 2019. Looking forward, the market is projected to reach levels worth US$ 7.13 Billion registering a CAGR of 11.7% during 2020-2025.

Significant growth in the agricultural sector is one of the key factors driving the growth of the market. Furthermore, widespread adoption of vertical and indoor farming practices is also providing a boost to the market growth.

The hydroponic farming systems use multiple grow lights to maintain an adequate amount of sunlight and protecting the plants from damage caused by insects and pests. Additionally, the rising demand for food as a result of the increasing population, coupled with the limited availability of cultivable land, is also impacting the product demand positively.

Grow lights aid in maintaining the optimal yield and plant quality, thereby meeting the steadily rising food demand across the globe. Apart from this, various technological advancements, including the development of smart grow lights integrated with the Internet of Things (IoT), are acting as another growth-inducing factor.

Other factors, including various innovations in the field of agricultural sciences and the implementation of favorable government policies, are projected to drive the market in the upcoming years.

The competitive landscape of the industry has also been examined with some of the key players being Epistar, Everlight Electronics, Gavita International B.V., General Electric Company, Heliospectra AB, Illumitex Inc., LumiGrow, Osram Licht AG, Shenzhen Juson Technology Co. Ltd., etc.

Key Questions Answered

    --  How has the global grow light market performed so far and how will it
        perform in the coming years?
    --  What are the key regional markets?
    --  What is the breakup of the market based on the technology?
    --  What is the breakup of the market based on the installation type?
    --  What is the breakup of the market based on the spectrum?
    --  What is the breakup of the market based on the application?
    --  What are the various stages in the value chain of the industry?
    --  What are the key driving factors and challenges in the market?
    --  What is the structure of the global grow light market and who are the
        key players?
    --  What is the degree of competition in the market?

Key Topics Covered

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Grow Light Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Forecast

6 Market Breakup by Technology
6.1 HID
6.2 LED
6.3 Fluorescent
6.4 Others

7 Market Breakup by Installation Type
7.1 New Installations
7.2 Retrofit Installations

8 Market Breakup by Spectrum
8.1 Full-Spectrum
8.2 Partial Spectrum

9 Market Breakup by Application
9.1 Indoor Farming
9.2 Vertical Farming
9.3 Commercial Greenhouse
9.4 Turf and Landscaping
9.5 Others

10 Market Breakup by Region
10.1 North America
10.2 Asia-Pacific
10.3 Europe
10.4 Latin America
10.5 Middle East & Africa

11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 Value Chain Analysis
12.1 Overview
12.2 Research and Development
12.3 Raw Material Procurement
12.4 Manufacturing
12.5 Marketing
12.6 Distribution
12.7 End-use

13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Epistar Company Overview Product Portfolio Financials
14.3.2 Everlight Electronics
14.3.3 Gavita International B.V.
14.3.4 General Electric Company
14.3.5 Heliospectra AB
14.3.6 Illumitex Inc.
14.3.7 Koninklijke Philips N.V.
14.3.8 LumiGrow
14.3.9 Osram Licht AG
14.3.10 Shenzhen Juson Technology Co. Ltd.

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