5 May 2020: Grow light is an electric, artificial source of light that can stimulate the growth of plants by releasing electromagnetic radiation helping in photosynthesis. The lights are mainly used in applications where no natural light is available or where additional light is required. Numerous geographical regions are deprived of sunlight for extended periods of time throughout the year where grow lights could have major applications.
Various types of lights are mainly used to create a fitting light spectrum that can support the procedure of photosynthesis in plants. Food production, indoor gardening, plant propagation, hydroponics, and horticulture are some of the significant areas where grow light is widely used. The farmers have become progressively conscious of the benefits of grow lights, which is expected to boost the demand for the market in the forthcoming period.
The major application variants of the grow light market include vertical farming, indoor farming, and commercial greenhouse. In terms of revenue, the commercial greenhouse sector will dominate the market in years to come whereas the vertical farming sector is anticipated to grow at the highest rate over the forthcoming period. The development is attributed to the increasing use of grow lights and technological advancements in the field of farming.
In addition, factors such as growing technological progressions and rising use of indoor vertical farming are anticipated to propel the market over the forthcoming period. The vertical farming sector is getting extensively accepted in countries like China, Japan, Netherlands, etc.
In vertical farming, herbs and medicines can be produced in vertically loaded layers that are assembled using skyscraper, shipping, or warehouse containers. It uses Controlled-Environment Agriculture (CEA) to regulate several environmental factors such as temperature, humidity, light, and water. Some vertical farms use greenhouse procedures, where sunlight can be improved with grow lights and metal reflectors.
Market Insights:
In grow light industry, companies are opting for more investments inclined toward large-scale deployment of grow lights, partnerships with other industries, and mergers and acquisitions for building their technical abilities. In March 2019, Signify, the global leader in lighting, used the Philips Greenpower LED manufacturing module range to offer the Japanese food supplier, Prime Delica, the ability to grow superior quality lettuce, coriander, and spinach all year round.
Leading players operating in the grow light market include AeroFarms; GAVITA Holland bv; and Illumitex, Inc.
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