According to the research report, the global agricultural lighting market was valued at USD 11,800.22 million in 2023 and is expected to reach USD 33,158.07 million by 2032, to grow at a CAGR of 12.40% during the forecast period.
Market Overview:
The agricultural lighting market is revolutionizing the farming sector by integrating advanced lighting technologies that enhance crop productivity and ensure sustainable agricultural practices. These lighting solutions cater to diverse farming needs, including indoor farming, vertical farming, greenhouses, and livestock management. The market is driven by the increasing adoption of precision farming techniques and the growing emphasis on energy-efficient agricultural practices.
Market’s Growth Drivers:
Increasing Adoption of Controlled Environment Agriculture
Controlled environment agriculture (CEA) methods, such as vertical farming and indoor farming, rely heavily on artificial lighting to optimize plant growth. As urbanization limits arable land, farmers are turning to these innovative solutions to ensure high yields, propelling the demand for agricultural lighting.
Rising Demand for Sustainable Farming Solutions
With climate change and resource scarcity becoming pressing global concerns, there is an escalating need for sustainable farming practices. Energy-efficient LED lighting systems, which consume less power and provide customizable light spectrums, are being widely adopted to minimize environmental impact and operational costs.
Expansion of Greenhouse Farming
Greenhouses enable year-round crop cultivation and require specialized lighting systems to simulate natural light conditions. The rapid expansion of greenhouse farming to meet the growing global food demand is significantly boosting the agricultural lighting market.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
Some of the major players operating in the global market include:
- Signify
- OSRAM
- Gavita
- Valoya
- California Lightworks
- Helliospectra AB
- LumiGrow Inc.
- Hortilux Schréder
- Eye Hortilux
- Signify Holding
- ams-OSRAM GmbH
Recent Developments:
- In January 2023, Energous Corporation and OSRAM announced a collaboration to develop a wirelessly charged light sensor designed for controlled-environment agriculture and vertical farming applications.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Agricultural Lighting Market segmentation divides the market into several segments. The industry segmentation is primarily based on product type, application, end-use, and geographic factors. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges. The detailed market segmentation helps stakeholders identify the diverse needs of different consumer groups in the market. Also, it pinpoints opportunities for targeted marketing and product development strategies.
Agricultural Lighting Market, Offering Outlook (Revenue, USD Million, 2019-2032)
- Hardware
- Software
- Services
Agricultural Lighting Market, Light Source Outlook (Revenue, USD Million, 2019-2032)
- HID
- LED
- Others (xenon, plasma, and induction lightning)
Agricultural Lighting Market, WattageOutlook (Revenue, USD Million, 2019-2032)
- Below 50W
- 50-150W
- Below 150W
Agricultural Lighting Market, Installation Type Outlook (Revenue, USD Million, 2019-2032)
- New
- Retrofit
Agricultural Lighting Market, Sales Channel Outlook (Revenue, USD Million, 2019-2032)
- Retail/ Wholesale
- Direct Sales
- Online/ E-commerce
- Other Sales Channel
The agricultural lighting market is poised to play a pivotal role in transforming global agricultural practices. As technology continues to advance, the market is expected to witness innovative solutions that address the growing demand for sustainable and efficient farming.
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