Horticulture Lighting Market to Reach $26.9 billion, Globally, by 2032 at 20.3% CAGR: Allied Market Research

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revenue owing to factors such as advanced technological infrastructure, widespread adoption of controlled environment agriculture practices, favorable government regulations, and significant investments in research and development. These conditions positioned North America as a key player in shaping the global horticulture lighting industry.

Key Industry Development –

In December 2022, Signify Holding (Phillips Lighting) launched 1,040-watt Philips HPS light fixture for a low-maintenance, hybrid light installation in combination with Philips Green Power LED toplighting.In May 2022, OSLON optimal LEDs provided a flexible mix of color and white options to meet requirements of all growing applications. It is an advanced chip technology and broad light distribution pattern and larger lens produce the robust high performance required in vertical farming and inter-lighting horticulture applications.

 Leading Market Players: -

Signify (formerly Philips Lighting)Osram GmbHSamsungHeliospectra ABCree LED (SMART Global Holdings, Inc.)Hubbell IncorporatedACUITY BRANDS, INC.Lumileds Holding BV.Gavita International B.V.Everlight Electronics Co., Ltd.

Product launch, investment, collaboration, and acquisition are the major business strategies that were adopted by the key market players in 2022.

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Key Benefits for Stakeholders:

This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.The overall market analysis is determined to understand the profitable trends to gain a stronger foothold.The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.The current global horticulture lighting market forecast is quantitatively analyzed from 2022 to 2032 to benchmark financial competency.Porter's five forces analysis illustrates the potency of the buyers and suppliers in horticulture Led Lights.The report includes the market share of key vendors and horticulture lighting market trends.

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Horticulture Lighting Market Key Segments:

By Technology

Light-Emitting Diodes (LEDs)High-Pressure Sodium (HPS) LampsOthers

By Application

GreenhouseVertical FarmingResearchOthers

By Region:

North America (U.S., Canada, and Mexico)Europe (UK, Germany, France, Russia, and Rest of Europe)Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific)Latin America (Brazil, Argentina, and Rest of Latin America)Middle East and Africa (UAE, Saudi Arabia, and Rest of Middle East and Africa)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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