The recent report by Markntel Advisors on Horticulture Lighting Market Size, Share, Analysis Future and forecast 2023-2028 promises trustworthy, objective, and precise insights into the market with the addition of accurate and reliable data explaining and briefing about the elements of the industry. The diverse fragmentation of the industry is handled by investigating each element, segment-wise, region-wise, and more, to comprehend a detailed and systematic report to provide the stakeholder with all the various tools and details of the industry.
The researchers analyze the collected data and present an understanding of the flow of the market. Through various subdivisions, the report aims to declutter all the trends and factors fueling the market’s growth. The report is a systematical, chapter-wise thesis of multiple segments, areas, characteristics, environmental or regional influence, and other factors involved in the overall growth and establishment of the industry. By dividing the market into chapters, the analysts present the report more straightforwardly to point out all the minute details of the industry and how it influences other factors.
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The Key Elements Covered in Horticulture Lighting Market Report:
- The report tracks and covers the regions where the market is partially and majorly active. Geographically, the market focuses on the place of manufacture, raw material extraction to the area where the products consumers are based, to be the regional expansion of the industry. To track and forecast the market size, the geographically dominant region in the industry, concerning the central areas covered.
- The report is compiled systematically and methodically, with each section neatly covering its essence and influence in the market. Likewise, the report provides a credible selection of market dynamics consisting of the following significant pillars of the industry’s study, Market Drivers, Market Restraints, Growth Opportunities, Challenges
- A separate section to provide the impact of COVID-19 on the market to better grasp the fluctuation during and after the pandemic.
- Elaborated information on industry overview, specifications, definitions, suppliers, RD status, cost structure analysis, sources, technological advancement, the further scope for improvement, applications, and more.
Market Dynamics
Key Driver: Widespread Adoption of Horticulture Lighting in Numerous Agricultural Applications
The increased deployment of horticulture lighting in numerous agricultural applications, including urban farming, supplemental lighting, cultivation without daylight, and multilayer cultivation, provides the necessary impetus to the market for the projected timeframe. Further, the growing vertical farming applications and greenhouse projects enthrall the market. Additionally, the population boom for the past few years, instigating the farmers to go indoors and utilize every bit of resource to cater to the up-scaling needs, further propels the market through 2028.
Possible Restraint: Need for Well-Equipped Infrastructure for CEA
Intricacies involved in deploying CEA technology tend to hinder market growth as it poses additional requirements in terms of nutrients, light, water, and climate control devices for plants' overall development, resulting in enhanced costs for overall harvest. That said, it is quite challenging to supervise and facilitate such practices, especially in larger fields. It directly impacts the design and development of horticulture lighting fixtures for plant growth. Therefore, the increased cost and effective management pose challenges to the stakeholders.
Opportunity: Growing farm-to-table trends encouraging the need for horticulture lights.
With the advent of the farm-to-table concept, access to local food in cafeterias, restaurants, food joints, and other locations has become easier and more flexible. Hence, people are now developing an affinity for locally grown foods which is why they are expected to gain popularity across different markets within the hospitality industry in the coming years. And therefore, the need for such grow lights facilitating on-time delivery of yield in the case of farm-to-table restaurants arises. Such trends owing to their significant impact, are supposed to amplify market growth.
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A Window into What Competitors Are Doing
The report comprises of detailed study of the steps, products, changes, marketing strategies, sustainability tactics, mergers, acquisition, and more which has shaped the industry and affected the market. The report showcases various elements to explain the dominance of competitors and the market, including:
- Recent developments
- Risk SWOT analysis
- Mergers and acquisition
- Performance
- Services offered
In the case of the Horticulture Lighting market, the market participants include:
-Bridgelux Inc.
-EYE Hortilux
-Maxigrow Ltd
-Hortilux Schreder
-Osram Licht AG
-Gavita International BV
-Lumileds
-Agrolux
-PARsource
-Heliospectra
-Signify
-Valoya
-California Lightworks
-LumiGrow
-EYE Hortilux
-Others
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Dividing The Horticulture Lighting Market into Sections:
The report covers the bifurcations of the industry group based on a common element, on which further investigation is performed. Furthermore, the report provides data on each high-performer segment in each group of features and information about the reasons behind the part acquiring a higher share or flourishing more in the industry. Thus, a deep analysis of various market elements is presented by categorizing the segments as follows:
By Application
-Indoor Farming
-Greenhouse
-Vertical Farming
By Technology
-High-Intensity Discharge (HID)
--LED
--High-Pressure Sodium Lamp
-Fluorescent
--T5
--CFL
By Offering
-Hardware
-Software
-Services
By Cultivation
-Vegetable
-Fruits
-Floriculture
-Others (Medicinal plants, Aromatic, etc.)
By Lighting Type
-Top lighting
-Inter lighting
-Supplemental Lighting
-Sole-Source Lighting
-Photoperiodic Lighting
By Region
-North America
-South America
-Europe
-The Middle East Africa
-Asia-Pacific
Offers and Customizations of Horticulture Lighting Market Report
For a personalized and customized research report on the Horticulture Lighting Market, kindly contact Markntel Advisors. The analysts and researchers focus on providing accurate information, beneficial tools, and further insights into the industry to yield higher profits.
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