Light Emitting Diode (LED) Grow Lights Market Roadmap for Recovery from COVID-19 | Growth in Indoor Agriculture to Promote Market Growth | Technavio

LONDON–(BUSINESS WIRE) – Technavio has monitored the Light Emitting Diode (LED) market for lighting fixture growth and is projected to grow USD 3.53 billion between 2020 and 2024, which is a CAGR of over 25% over the forecast period. The report provides an up-to-date analysis of the current market scenario, the latest trends and drivers, as well as the overall market environment.

Although the COVID-19 pandemic continues to change the growth of various industries, the immediate effects of the outbreak are different. While some industries will see a decline in demand, many others remain unscathed and have promising growth opportunities. Technavio’s in-depth research covers all of your needs as our research reports cover all foreseeable market scenarios, including pre and post COVID-19 analysis. Download a free sample report on the effects of COVID-19

Frequently asked Questions:

  • What are the main trends in the market?

    The use of Artificial Intelligence in LED grow lights is a major trend that is driving the growth of the market.
  • At what speed should the market grow?

    Year-over-year growth for 2020 is estimated at 21.00% and the market incremental growth is expected to be $ 3.53 billion.
  • Who are the top players in the market?

    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 key market players.
  • What is the main market driver?

    The growth in indoor farming is one of the main driving forces behind the market.
  • How big is the European market?

    The Europe region will contribute 40% of the market share.

The market is fragmented and the degree of fragmentation will accelerate over 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 key market players. The growth in indoor farming offers enormous growth opportunities. To take advantage of the most opportunities, market vendors should focus more on the growth prospects in the fast growing segments while maintaining their position in the slow growing segments.

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

The Light Emitting Diode (LED) Grow Lights Market is segmented as follows:

  • application

    • Commercial greenhouses

    • Vertical farming

    • Other

  • Geographic landscape

    • APAC

    • Europe

    • MY

    • North America

    • South America

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

Technavio provides a detailed picture of the market through the study, synthesis and summary of data from multiple sources. The market report for Light Emitting Diodes (LED) for Grow Lights covers the following areas:

  • Light Emitting Diode (LED) Grow Lights Market Size

  • Market trends for light emitting diode (LED) grow lights

  • Light Emitting Diode (LED) Grow Lights Market Industry Analysis

This study identifies the use of Artificial Intelligence in LED grow lights as one of the main drivers behind the growth of the Light Emitting Diode (LED) grow light market over the next several years.

Technavio proposes three forecast scenarios (optimistic, likely and pessimistic) that take into account the effects of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacts on market research reports.

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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 support the growth of the light emitting diode (LED) market in the next five years

  • The estimate of the light emitting diode (LED) increases the market size for lights and their contribution to the parent market

  • Predicting upcoming trends and changes in consumer behavior

  • The growth of the light emitting diode (LED) is causing the lighting market to grow

  • Analysis of the competitive landscape of the market and detailed information on providers

  • Full details on factors that will challenge Light Emitting Diode (LED) growth are vendors in the lighting fixture market

Contents:

PART 01: SUMMARY

PART 02: SCOPE OF THE REPORT

  • Preface

  • Currency conversion rates for US $

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Market characteristics

  • Market segmentation analysis

  • Value chain analysis

PART 04: MARKET SIZE

  • Market definition

  • Market size

  • Market size 2019

  • Market outlook

  • Market size and forecast 2019-2024

PART 05: FIVE FORCE ANALYSIS

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Newcomer threat

  • Threat from substitutes

  • Threat of rivalry

  • Market condition

PART 06: MARKET SEGMENTATION THROUGH APPLICATION

  • Market segmentation by application

  • Comparison by application

  • Commercial Greenhouses – Market Size and Forecast 2019-2024

  • Vertical Agriculture – Market size and forecast 2019-2024

  • Other – Market size and forecast 2019-2024

  • Market opportunity through application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHICAL 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

  • Major leading countries

  • Market opportunity

PART 09: DRIVERS AND CHALLENGES

  • Market leader

  • Market challenges

PART 10: MARKET TRENDS

  • Growing strategic alliances with end users

  • Using LED grow lights to suppress plant diseases

  • Using Artificial Intelligence in LED Grow Lights

PART 11: SALES LANDSCAPE

  • overview

  • Landscape disturbance

  • Competitive scenario

PART 12: VENDOR ANALYSIS

  • Provider covered

  • Manufacturer classification

  • Market positioning of providers

  • Advanced LED grow lights

  • Cree Inc.

  • General Electric Co.

  • GNUK Ltd.

  • Heliospectra AB

  • Illumitex Inc.

  • LumiGrow Inc.

  • OSRAM Licht AG

  • Senmatic AS

  • Designate NV

PART 13: APPENDIX

  • Research methodology

  • List of abbreviations

  • Definition of the market positioning of providers

PART 14: DISCOVERING TECHNAVIO

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