Grow Light Market Size by Key Players, Growth Factors, Regions and Applications, Industry Forecast By 2025
A grow light is an artificial source of light energy that is particularly designed to stimulate and control the growth of seeds and plants by discharging an electro-magnetic spectrum for photosynthesis. Grow light is normally utilized in applications where additional light is required or where natural light is not available. It is a kind of electronic lamp designed for accelerating the growth of the plant by electronic magnetic spectrum.
Rising attractiveness of commercial greenhouses to cultivate plants and development in indoor farming methods are the key factors that are driving the grow light market. Automation in commercial greenhouses is growing considerably and has helped farmers to maximize their yield by utilizing grow lights. However, high cost of capital and less awareness among consumers, are the factors hampering the growth of the market. Whereas, low power consumption, high commercial greenhouse practices, and high reliability are also driving the growth of the grow light market.
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What’s Included In This Report -:
- Market Dynamic
- Competitive Analysis
- Market Trends and Market Outlook
- Market Share and Market Size
- Opportunities and Customer Analysis
- Product Pricing Research
The key players influencing the market are Osram LichtAG, General Electric Company, Iwasaki Electric Co., Ltd., LumiGrow, Inc., Gavita Holland B.V., Sunlight Supply, Inc., Heliospectra AB, Royal Philips, Illumitex Inc., and Transcend Lighting Inc. (U.S.)
Grow Light market report provides a comprehensive analysis with qualitative and quantitative insights of the market by various segment types at global, regional and country level. In the report 2017 will be considered as historic year, 2018 as a base year and forecast period will be 2019-2025. The report comprehensively identifies and analyze the growing trends along with major driving factor such as increasing digitization rate, high demands from end-users’ industries, challenges and opportunities within the Grow Light market. The report will also consist of exhaustive profiling in terms of their business overview, key financial facts, products and services, SWOT analysis and recent development of key players operating in the market. The Grow Light market report exhaustively covers strategic moves adopted by various key players such as new product launches, joint ventures, product developments, merges and accusations among others in the last two to three that impacts the Grow Light market. The report focuses on major five geographical regions i.e., North America, Europe, Asia-Pacific, Middle East & Africa and South America, which are further sub-segmented into 17 major countries.
Over the forecast period of 2019-2025, the Grow Light market is expected to experience a substantial growth rate. The report will highlight various factors such as drivers, futures trends and opportunities behind the growth rate. The report will also provide insights on how the market will behave during the forecast period, and its potential impact on market segments, sub-segments and industry verticals at short term, midterm and long term basis. The market numbers presented in the report, are also portrayed in the graphical format for developing better understanding and analyzing the market.
The Grow Light market size is derived primarily form the supply side (i.e. the market players operating in global Grow Light market) and therefore, revenue of all the prominent leading companies operating across the value chain are taken into consideration across regional, global and country level. Historical and current market information is collected from technical literature, paid databases, magazines, press releases, trade unions, company presentations, annual reports, and other information available in public domain. Additionally, the research team also refers various paid data sources such as Factiva, Hoovers, Bloomberg, and numerous other sources were also referred to derive company’s annual revenue, and other segment related financial information. Also, market forecasting and key industry trends information such as growth prospects, market composition, market dynamics, and segmentation confirmation is obtained from primary interviews with market participants including industry experts, regional managers, CEOs, market professional with substantial industry experienced.
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