Global LED Grow Lights Market Analysis & Forecasts to 2021 - Promotion of Vertical Farms & Expansion of Smart Phone Technology

The report answers the following questions about the global LED grow lights market:

The increasing world population and the rapid urbanization has resulted in an increase in demand for food while conventional farming is on a decline. The world population is expected to reach 9.7 billion by 2050 and according to the United Nations around 66% of those will be living in urban areas.

There is a need to employ better farming methods that help in improving the yields. With food security gaining increased importance in the worldwide scenario, government across the globe are promoting modern farming techniques which help in producing the best yield from each farmed acre. Vertical and indoor farms help in improving the yields manifold while eliminating the use of chemical fertilizers and pesticides.

It has been mentioned in a statistic by Macrothink Institute that the growth of vegetables like carrots, potatoes, tomatoes and lettuce was increased 2-15 times due to the better technology on offer in vertical farms. Whereas the increase in yield was 340-700 times when the effect of stacking was combined with the technology. Vertical and indoor farms also protect the vegetation from the effects of external climatic conditions like drought which is useful in preventing agricultural losses.

LED grow lights are an important part of these farms where they compensate for the absence of sunlight. Moreover the introduction of LED technology into the grow lights market has been revolutionary as it reduces the energy consumption and heat radiation. Thus LED grow lights provide an effective and efficient solution to the existing problems that the agricultural sector faces.

The major established players in the market, are focusing more on business expansion to keep a strong hold on the market. Heliospectra, Philips Lighting, and Illumitex are few of the major industry players that have adopted this strategy to grow their business. These companies expanded their business in different countries to expand their customer base in the market.

Key Topics Covered:

Executive Summary

1 Report Scope & Methodology
1.1 Report Scope
1.2 The LED Grow Lights Market Research Methodology
1.2.1 Assumptions & Limitations
1.2.2 Primary Data Sources
1.2.3 Secondary Data Sources
1.2.4 Data Triangulation
1.2.5 Data Analysing & Market Estimation

2 Market Dynamics
2.1 Drivers
2.1.1 Need to Reduce Energy Consumption
2.1.2 Increasing Emphasis on Food Security
2.1.3 Developing Trend for Indoor Farming
2.2 Restraints
2.2.1 Large Capital Requirement
2.2.2 Lack of Quality Standards for LED Grow Lights
2.3 Opportunities
2.3.1 Promotion of Vertical Farms
2.3.2 Expansion of Smart Phone Technology

3 Competitive Landscape
3.1 Key Market Development & Strategies
3.1.1 Partnerships, Agreements & Joint Ventures
3.1.2 Product Launches
3.1.3 Business Expansion
3.1.4 Mergers & Acquisitions
3.1.5 Others (Awards, Recognitions, Conferences & Expo)
3.2 Industry Attractiveness
3.2.1 Threat of New Entrants
3.2.2 Bargaining Power of Buyers
3.2.1 Bargaining Power of Suppliers
3.2.2 Threat from Substitutes
3.2.3 Intensity of Competitive Rivalry

4 Industry Analysis
4.1 Opportunity Matrix
4.2 Country Share Analysis
4.3 R&D Analysis
4.4 Ranking of Key Companies

5 Global LED Grow Lights Market by Power Consumption
5.1 Assumptions & Limitations for Analysis and Forecast of the Global LED Grow Lights Market
5.2 Market Overview
5.3 Low Power LED Grow Lights
5.4 High Power LED Grow Lights

6 Global LED Grow Lights Market by Spectrum
6.1 Partial Spectrum
6.2 Full Spectrum

7 Global LED Grow Lights Market by Application
7.1 Commercial Greenhouse
7.2 Indoor Farming
7.3 Vertical Farming
7.4 Turf and Landscaping
7.5 Others
7.5.1 Other Applications by Geography

8 Global LED Grow Lights Market by Region

9 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/n936c9/global_led_grow

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