Light-emitting Diode (LED) Grow Lights Market 2020-2024 | Growth in Indoor Farming to Boost Growth | Technavio

Technavio has been monitoring the light-emitting diode (LED) grow lights market and it is poised to grow by USD 3.53 billion during 2020-2024, progressing at a CAGR of over 25% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio's latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Light-emitting Diode (LED) Grow Lights Market. Download free sample report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advanced LED Grow Lights, Cree Inc., General Electric Co., GNUK Ltd., Heliospectra AB, Illumitex Inc., LumiGrow Inc., OSRAM Licht AG, Senmatic AS, and Signify NV are some of the major market participants. The growth in indoor farming will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Growth in indoor farming has been instrumental in driving the growth of the market.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/global-light-emitting-diode-led-grow-lights-market-industry-analysis

Light-emitting Diode (LED) Grow Lights Market 2020-2024: Segmentation

Light-emitting Diode (LED) Grow Lights Market is segmented as below:

■ Application

■ Commercial Greenhouses

■ Vertical Farming

■ Others

■ Geographic Landscape

■ APAC

■ Europe

■ MEA

■ North America

■ South America

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Light-emitting Diode (LED) Grow Lights Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our light-emitting diode (LED) grow lights market report covers the following areas:

■ Light-emitting Diode (LED) Grow Lights Market Size

■ Light-emitting Diode (LED) Grow Lights Market Trends

■ Light-emitting Diode (LED) Grow Lights Market Analysis

This study identifies use of artificial intelligence in LED grow lights as one of the prime reasons driving the light-emitting diode (LED) grow lights market growth during the next few years.

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Light-emitting Diode (LED) Grow Lights Market 2020-2024: Key Highlights

■ CAGR of the market during the forecast period 2020-2024

■ Detailed information on factors that will assist light-emitting diode (LED) grow lights market growth during the next five years

■ Estimation of the light-emitting diode (LED) grow lights market size and its contribution to the parent market

■ Predictions on upcoming trends and changes in consumer behavior

■ The growth of the light-emitting diode (LED) grow lights market

■ Analysis of the market’s competitive landscape and detailed information on vendors

■ Comprehensive details of factors that will challenge the growth of light-emitting diode (LED) grow lights market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

■ 2.1 Preface

■ 2.2 Preface

■ 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

■ Market ecosystem

■ Market characteristics

■ Market segmentation analysis

■ Value chain analysis

PART 04: MARKET SIZING

■ Market definition

■ Market size

■ Market sizing 2019

■ Market outlook

■ Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

■ Bargaining power of buyers

■ Bargaining power of suppliers

■ Threat of new entrants

■ Threat of substitutes

■ Threat of rivalry

■ Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

■ Market segmentation by application

■ Comparison by application

■ Commercial greenhouses - Market size and forecast 2019-2024

■ Vertical farming - Market size and forecast 2019-2024

■ Others - Market size and forecast 2019-2024

■ Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

■ Geographic segmentation

■ Geographic comparison

■ Europe - Market size and forecast 2019-2024

■ North America - Market size and forecast 2019-2024

■ APAC - Market size and forecast 2019-2024

■ South America - Market size and forecast 2019-2024

■ MEA - Market size and forecast 2019-2024

■ Key leading countries

■ Market opportunity

PART 09: DRIVERS AND CHALLENGES

■ Market drivers

■ Market challenges

PART 10: MARKET TRENDS

■ Growing strategic alliances with end-users

■ Use of LED grow lights in suppression of plant diseases

■ Use of artificial intelligence in LED grow lights

PART 11: VENDOR LANDSCAPE

■ Overview

■ Landscape disruption

■ Competitive scenario

PART 12: VENDOR ANALYSIS

■ Vendors covered

■ Vendor classification

■ Market positioning of vendors

■ Advanced LED Grow Lights

■ Cree Inc.

■ General Electric Co.

■ GNUK Ltd.

■ Heliospectra AB

■ Illumitex Inc.

■ LumiGrow Inc.

■ OSRAM Licht AG

■ Senmatic AS

■ Signify NV

PART 13: APPENDIX

■ Research methodology

■ List of abbreviations

■ Definition of market positioning of vendors

PART 14: EXPLORE TECHNAVIO

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