Agricultural LED Market Overview:
The market research study analyses and assesses the market's position during the forecast period. It is a comprehensive examination that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis.
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Agricultural LED Market was valued at US$ 3.2 Bn. in 2021. The Global Agricultural LED Market size is estimated to grow at a CAGR of 20.3 % over the forecast period.
Market Scope:
Using both primary and secondary research approaches, we researched the Agricultural LED Market from every viewpoint. This helped us gain a better understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, customer habits, and so on. The data is then compiled and analysed using a range of market estimation and data validation techniques. Furthermore, we have an in-house data forecasting engine that forecasts market growth through 2027.
Drivers:
Indoor lighting applications that use agricultural LEDs provide artificial light for the crops rather than natural daylight. Agricultural LED illuminates artificial lightning to support and enhance plant growth. It is employed in a variety of farming practises, including greenhouse farming, vertical farming, and indoor farming. Due to its low installation costs and affordable customer solutions, agricultural LED is the modern technology used in farming today. For applications like supplemental lighting, urban farming, and cultivation without the use of daylight, agricultural lighting use has increased recently. These lights give the crop the right amount of light while maintaining the necessary safety. Market growth is accelerating as sustainability becomes more and more popular.
Segmentation:
The Agriculture LED Market is divided into three categories based on offerings: hardware, software, and services. With a market share of 49.3% in 2020, the Hardware segment will dominate the industry. The hardware component is thought to be the main requirement for the installation of agricultural lighting. As a result, the Hardware segment dominates the Agriculture LED market.
The Agriculture LED Market is divided into Greenhouses, Vertical Farming, Indoor Farming, and Others based on Application. In the Agriculture LED Market, the Indoor Farming segment holds the majority of market shares. Due to the rising demand for healthy, organic food, indoor farming is very popular.
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Key Players:
The report also focuses on the global main industry players in the Agricultural LED Market, including company biographies, product images and specs, capacity, production, price, cost, revenue, and contact information. The study examines prominent Agricultural LED market businesses and ranks them in the market. The following players are featured in this report:
• Philips
• Osram
• General Electric
• Easy Agricultural
• Illumitex
• Fionia Lighting
• Lumigrow
• Kind LED Grow Lights
• California LightWorks
• Spectrum King Grow Lights
• Valoya
• Weshine
• Apollo Horticulture
• Kessil
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Regional Analysis:
The Agricultural LED market in each area is further segmented into regions and segments. The study examines and anticipates several nations, as well as current trends and opportunities in the area.
COVID-19 Impact Analysis on Agricultural LED Market:
The primary goal of the research is to provide enterprises in the industry with a strategic analysis of the impact of COVID-19. Simultaneously, this research investigated the marketplaces of significant nations and presented their market potential.
Key Questions Answered in the Agricultural LED Market Report are:
- What are some of the promising growth opportunities in the global Agricultural LED market by product type and Region?
- Which Agricultural LED market segments will grow the fastest, and why?
- Which regions will develop quicker?
- What are the elements influencing Agricultural LED market?
- What are the Agricultural LED market's business risks?
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