Global Digital Ballast Market 2016-2020

Outlook of the global digital ballast market

Technavio’s market research analyst predicts the global digital ballast market to grow steadily at a CAGR of approximately 12% during the forecast period. The prospects for growth in this market will be driven by the advent of digital ballasts with adjustable voltages and light dimming capabilities. The light output of these ballasts can be adjusted to 50%, 75%, or 100% depending on the growth stage of the plants. The low-light output can be used during the initial stages of plant growth, and the output can be increased as the plants grow. The ability of these devices to save energy, especially when compared to electrical ballasts, will result in its augmented adoption during the forecast period.

An important factor that impels the prospects for growth in this market is the rising demand for digital ballasts from plant factories. Plant factory, or vertical farming, involves a closed environment in which plants are grown under lights in stacked shelves. In the plant factories, grow lights are used to initiate the process of photosynthesis. Thus, with the increasing demand for food, more regions are expected to set up plant factories. This increase in the establishment of plant factories will result in the high demand for digital ballasts during the forecast period.

Geographical segmentation of the digital ballast market

• APAC
• Europe
• North America
• ROW

In 2015, North America dominated the global digital ballast market and accounted for a market share of approximately 33%. In the US, it has been observed that the concept of indoor agriculture is quickly gaining traction. Indoor farming uses digital ballasts and other technologies to improve the control over the variables involved in farming. This increase in the popularity of indoor farming will lead to a rise in the demand for grow lights, such as HID and fluorescent lamps, which in turn will propel the demand for digital ballasts during the forecast period.

Competitive landscape and key vendors

The global digital ballast market is competitive and consists of well-diversified global and regional vendors. However, as global players are increasing their footprint in the market, regional vendors are finding it increasingly difficult to compete with them in terms of quality, technology, and pricing.

Leading vendors in the market are -

• Soils Tek
• Apollo Horticulture
• Galaxy
• Quantum

Other prominent vendors in the market include Gavita, Nanolux, Phantom Digital, and TECHONE.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global digital ballast market?
• What are the key market trends impacting the growth of the digital ballast market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global digital ballast market?
• What are the trending factors influencing the market shares of APAC, Europe, North America and ROW?
• What are the key outcomes of the five forces analysis of the digital ballast market?

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