Horticulture Lighting Market Size 2025-2029
The horticulture lighting market size is forecast to increase by USD 5.1 billion, at a CAGR of 16.7% between 2024 and 2029.
The global horticulture lighting market is shaped by the adoption of controlled environment agriculture to enhance food security. This movement toward indoor cultivation creates a foundational demand for advanced grow light market solutions. Innovations are centered on creating intelligent, networked systems that leverage the industrial and commercial led lighting ecosystem. Modern lighting fixtures are evolving into data-driven tools, utilizing smart lighting platforms that allow for remote management and dynamic adjustments. However, the high initial capital investment required for these state-of-the-art systems remains a significant consideration for growers, influencing adoption rates across different scales of operation and balancing long-term efficiency gains against upfront expenditures.A defining trend is the integration of smart controls and IoT, which transforms standalone hardware into responsive, optimized systems. This trend enables dynamic lighting strategies based on real-time environmental data from sensors, moving beyond simple scheduling to data-driven optimization. The application of artificial intelligence and machine learning represents the next stage, facilitating the autonomous refinement of light recipes to boost productivity and efficiency. While these advancements in the light-emitting diode (LED) grow lights market offer unprecedented control, the high capital and operational costs present a persistent challenge, impacting the financial feasibility of projects and influencing purchasing decisions within the greenhouse horticulture sector.
What will be the Size of the Horticulture Lighting Market during the forecast period?
Explore in-depth regional segment analysis with market size data - historical 2019 - 2023 and forecasts 2025-2029 - in the full report.
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The global horticulture lighting market is characterized by the continuous integration of advanced hardware and intelligent software. The development of application-specific form factors, such as multi-bar light fixtures for vertical farms and high-output top lighting solutions for greenhouses, reflects a maturing industry. These innovations in the lighting fixtures market focus on optimizing light uniformity and thermal management. Concurrently, the rise of smart control platforms enables sensor-driven lighting strategies, moving beyond static schedules to dynamic, responsive illumination that enhances efficiency and crop performance in controlled environments.Market dynamics are also shaped by the scientific pursuit of crop-specific light recipes and spectral power distribution. The ability to manipulate plant photomorphogenesis through tunable lighting systems is a key differentiator. This focus on plant photobiology allows growers to enhance secondary metabolite production and other desirable traits. As part of the broader grow light market, advancements in solid-state lighting fixtures are enabling more precise control over the growing environment. This shift toward precision agriculture tools supports the production of high-value crops with specific characteristics, adding significant value for cultivators and meeting specialized consumer demands.
How is this Horticulture Lighting Industry segmented?
The horticulture lighting industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.
- Component
- Installation type
- Retrofit installation
- New installation
- Application
- Greenhouse
- Vertical farms
- Indoor farms
- Research and tissue culture
- Others
- Geography
- North America
- Europe
- Germany
- UK
- The Netherlands
- France
- Italy
- Spain
- APAC
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- South America
- Middle East and Africa
- Rest of World (ROW)
By Component Insights
The hardware segment is estimated to witness significant growth during the forecast period.
Hardware represents the foundational and most substantial segment, encompassing all physical components like light fixtures, drivers, and reflectors. The dominant technology is the light-emitting diode (LED), which has displaced legacy systems due to its superior energy efficiency, longer lifespan, and spectral tunability. Hardware innovation is a primary competitive axis, with manufacturers focusing on enhancing key performance metrics such as photosynthetic photon efficacy (PPE). Hardware components, particularly solid-state lighting fixtures, represent the largest segment, accounting for over 65% of the total market share.
The physical design of hardware is also critical, with form factors tailored to specific applications like linear top lighting for greenhouses or multi-bar fixtures for vertical farms. Advanced thermal management systems are integral to maintaining LED performance and longevity. Furthermore, the hardware segment is increasingly characterized by the integration of onboard sensors for monitoring environmental conditions. This lays the groundwork for more intelligent, responsive lighting systems and supports the shift toward data-driven, precision agriculture and improved light uniformity optimization.
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The Hardware segment was valued at USD 2.1 billion in 2019 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 36.6% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North America market represents one of the largest and most technologically advanced regions for horticulture lighting. The market is characterized by a dual-engine growth model. The first is the robust and expanding controlled environment agriculture (CEA) sector focused on food production, driven by consumer demand for local, fresh produce. This has created substantial demand for high-efficiency LED top lighting and multi-tier systems. The second major engine is the legalized cannabis industry, where indoor cultivation requires high-intensity, full-spectrum lighting to maximize yields.
The North America region is home to many leading lighting manufacturers and ag-tech innovators, fostering a competitive landscape with a strong focus on research and development. The North America region presents a significant opportunity, projected to contribute over 36% of the market's incremental growth. Government incentives and utility rebates promoting energy-efficient technologies like advanced climate control further encourage growers to adopt or retrofit with advanced LED systems. This combination of commercial food production and high-value crop cultivation stimulates consistent market growth across the region.
Market Dynamics
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The global horticulture lighting market is rapidly evolving, driven by the compelling ROI for HPS to LED conversion, which significantly aids in reducing operational costs with LED retrofits. Growers are increasingly focused on improving photosynthetic photon flux density through advanced technologies that boost LED fixture efficiency in vertical farms. This requires sophisticated application-specific horticulture luminaire design and effective thermal management in high-intensity lighting. The goal is optimizing daily light integral for greenhouses while leveraging innovations like dynamic spectrum control for crop steering and spectral manipulation for plant morphology. Strategic use of the light spectrum includes understanding the far-red light impact on flowering and developing specific light recipes for enhancing nutritional content. Furthermore, techniques such as inter-canopy lighting for vining crops are becoming more common to maximize yield and quality.Addressing the challenges of high initial capital investment, innovative light as a service business models are gaining traction, improving the economic viability of indoor farming. The push for greater efficiency involves the seamless integration of lighting with climate control, facilitated by smart controls for greenhouse lighting automation and sophisticated software for remote lighting management. The future points towards AI-driven optimization of light recipes for unparalleled precision. However, for the market to mature, there is a critical need for standardization in lighting performance metrics to ensure transparent and reliable comparisons across different OEM solutions.
What are the key market drivers leading to the rise in the adoption of Horticulture Lighting Industry?
- The expanding adoption of controlled environment agriculture (CEA) methodologies to address global food security concerns is a primary driver shaping the market.
The accelerating adoption of controlled environment agriculture (CEA) is a primary market driver. This agricultural model, which includes high-tech greenhouses and vertical farms, is a direct response to global food system pressures. CEA provides a resilient alternative to traditional farming by creating optimal indoor growing conditions year-round, which enhances crop yields and predictability. Horticulture lighting is the critical enabling technology for these systems, especially for vertical farms that rely on sole-source illumination. The push for localized food systems to shorten supply chains and improve food safety further amplifies the demand for CEA facilities, which in turn fuels the need for sophisticated, high-performance lighting systems with dynamic spectrum control and plant photobiology insights.Continuous innovation in solid-state lighting, particularly light-emitting diode (LED) technology, is a powerful driver of market expansion. The performance of horticulture LEDs, measured by photosynthetic photon efficacy (PPE), has improved dramatically, while costs have steadily decreased. This dual advancement makes LED lighting an increasingly attractive investment for growers. Higher efficacy leads to lower electricity consumption, which can account for a substantial portion of operational costs, as the industrial segment consumes close to 40% of overall energy globally. This reduction in operational expenditure improves the economic viability of indoor cultivation. Beyond efficiency, LED technology offers unprecedented control over light characteristics, enabling the use of crop-specific light recipes to enhance plant traits such as yield and nutritional content.
What are the market trends shaping the Horticulture Lighting Industry?
- The convergence of smart controls, IoT integration, and artificial intelligence into networked systems represents a significant upcoming market trend.
A defining trend in the global horticulture lighting market is the evolution from standalone hardware to intelligent, networked systems. Modern lighting fixtures are increasingly integrated with sophisticated control software and the broader IoT ecosystem. This trend enables dynamic, data-driven lighting strategies that move beyond simple scheduling to include adjustments in intensity and spectrum based on real-time conditions. Smart control platforms allow for remote management and automation, with sensors monitoring key environmental variables. The next frontier is the application of artificial intelligence and machine learning. By analyzing vast datasets, AI algorithms can identify patterns and autonomously optimize lighting recipes over time, continuously refining strategies to maximize productivity and energy efficiency in the smart lighting landscape.As the market matures, the focus of innovation is shifting from efficient light delivery to precise, targeted illumination through crop-specific light recipes. Researchers and growers now understand that different wavelengths of light can steer plant development in predictable ways. Adjusting light spectrums can influence stem elongation, flowering, and coloration. Lighting manufacturers are investing heavily in plant science research to decode these responses for a wide range of commercial crops. This allows them to offer growers validated light recipes designed to optimize for specific goals like faster growth cycles or enhanced nutritional content. This trend, which elevates the role of professional lighting, moves the industry beyond generic full-spectrum lights to providing highly specialized tools for precision agriculture, adding significant value.
What challenges does the Horticulture Lighting Industry face during its growth?
- The substantial initial capital investment and ongoing operational expenditure required for advanced lighting systems pose a key challenge to industry growth.
A significant challenge impeding broader adoption of advanced horticulture lighting is the high initial capital investment required. State-of-the-art LED lighting systems, along with the necessary control infrastructure, represent a substantial upfront cost for any controlled environment agriculture project. While the long-term return on investment is often favorable, this initial financial barrier can be prohibitive, particularly for small to medium-sized growers. The cost of outfitting a large commercial facility can represent a major portion of the total project budget, with capex requirements often exceeding 50% of the initial outlay. Beyond the purchase, operational expenditure, primarily electricity costs, remains a persistent challenge. These combined costs can make it difficult for indoor-grown produce to compete on price with field-grown alternatives.The horticulture lighting market is intrinsically linked to the financial health of its primary customers, namely commercial greenhouses and vertical farms. A major challenge for the lighting industry is the ongoing struggle for consistent profitability within the CEA sector itself. These operations contend with high operational costs that extend beyond lighting to include labor and climate control. Fierce competition in the produce market has driven down prices, squeezing profit margins for indoor growers. This has led to a landscape where many vertical farming startups have failed to achieve profitability, resulting in downsizing and consolidation. This instability in the end-user market creates uncertainty for lighting manufacturers and can dampen investor confidence in the entire sector, potentially slowing the funding of new facilities.
Exclusive Customer Landscape
The horticulture lighting market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the horticulture lighting market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, horticulture lighting market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Acuity Brands Inc. - The company provides specialized LED lighting systems engineered for diverse controlled environment applications. These solutions cater to greenhouses, vertical farming operations, and other indoor cultivation settings. A key feature is the integration of spectrum control capabilities, allowing users to tailor light output to optimize plant growth, development, and yield according to specific crop requirements and growth stages.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Acuity Brands Inc.
- Bridgelux Inc.
- California LightWorks
- Cree LED
- Everlight Electronics Co. Ltd.
- Gavita International B.V.
- Growers Choice
- Heliospectra AB
- Horticulture Lighting Group
- Hortilux Schrede
- ILUMINAR Lighting LLC
- Lumileds Holding BV
- OSRAM GmbH
- Samsung Electronics Co. Ltd.
- Signify NV
- Valoya Oy
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Recent Development and News in Horticulture Lighting Market
In March 2024, Fluence, a subsidiary of Signify, launched its RAPTR 2 top light, a high-efficiency fixture designed as a one-for-one replacement for 1000-watt HPS fixtures, aiming to simplify the technological transition for greenhouse growers.In February 2024, Heliospectra AB secured a new order for its MITRA X2 light bars from a life science and plant research facility in the US, demonstrating continued demand for its controllable lighting solutions in research applications.In January 2024, Signify announced the completion of a large-scale Philips Horticulture LED lighting project with MightyVine, a leading greenhouse tomato grower, to enhance year-round production and improve crop quality and consistency.
Research Analyst Overview
The evolution within the global horticulture lighting market is characterized by the progressive replacement of high-pressure sodium lamps with advanced solid-state lighting fixtures. This shift is driven by advancements in light-emitting diode technology, which offer superior photosynthetic photon efficacy and a higher luminaire efficacy rating. In controlled environment agriculture, facilities are adopting these systems to manage radiant heat output more effectively, necessitating sophisticated thermal management systems, including water-cooled LED systems. The integration of quantum board technology and phosphor-converted LEDs into vertical farming systems and for greenhouse supplemental lighting is becoming standard. This transition also impacts the design of ballast and driver components, which are crucial for the operational efficiency of sole-source illumination in indoor cultivation facilities and for specialized applications like tissue culture micropropagation.Advanced practices in integrated farm management increasingly leverage a deep understanding of plant photobiology to optimize yields. The development of crop-specific light recipes allows growers to manipulate plant photomorphogenesis and enhance secondary metabolite production. By using tunable lighting systems with dynamic spectrum control, cultivators can precisely manage the spectral power distribution, including the far-red light spectrum, to influence photoperiod-sensitive crops. The precise delivery of photosynthetically active radiation is measured by photosynthetic photon flux density to meet the target daily light integral. With the market anticipated to expand by over 20% in the coming years, these crop steering techniques, combined with light uniformity optimization and inter-canopy lighting solutions, are essential in hydroponic cultivation systems, aquaponics symbiotic systems, and photobioreactor cultivation alongside advanced climate control.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Horticulture Lighting Market insights. See full methodology.
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Market Scope
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Report Coverage
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Details
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Page number
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297
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Base year
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2024
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Historic period
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2019 - 2023 |
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Forecast period
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2025-2029
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Growth momentum & CAGR
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Accelerating at a CAGR of 16.7%
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Market growth 2024-2029
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USD 5.1 billion
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Market structure
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Fragmented
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YoY growth 2024-2029(%)
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14.3%
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Key countries
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US, Canada, Mexico, Germany, UK, The Netherlands, France, Italy, Spain, China, Japan, South Korea, India, Australia, Indonesia, Brazil, Colombia, Argentina, UAE, Saudi Arabia, South Africa, Israel, Turkey
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Competitive landscape
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Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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What are the Key Data Covered in this Horticulture Lighting Market Research and Growth Report?
- CAGR of the Horticulture Lighting industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2029
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across North America, Europe, APAC, South America, Middle East and Africa
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the horticulture lighting market growth of industry companies
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1 Executive Summary
- 1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Component
- Executive Summary - Chart on Market Segmentation by Installation Type
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Chart on Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Chart on Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Chart on Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
- 3 Market Landscape
- 3.1 Market ecosystem
- Chart on Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Chart on Market characteristics analysis
- 3.3 Value chain analysis
- Chart on Value chain analysis
4 Market Sizing
- 4 Market Sizing
- 4.1 Market definition
- Data Table on Offerings of companies included in the market definition
- 4.2 Market segment analysis
- 4.3 Market size 2024
- 4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ billion)
- Data Table on Global - Market size and forecast 2024-2029 ($ billion)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
- 5 Historic Market Size
- 5.1 Global Horticulture Lighting Market 2019 - 2023
- Historic Market Size - Data Table on Global Horticulture Lighting Market 2019 - 2023 ($ billion)
- 5.2 Component segment analysis 2019 - 2023
- Historic Market Size - Component Segment 2019 - 2023 ($ billion)
- 5.3 Installation Type segment analysis 2019 - 2023
- Historic Market Size - Installation Type Segment 2019 - 2023 ($ billion)
- 5.4 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ billion)
- 5.5 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ billion)
- 5.6 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ billion)
6 Qualitative Analysis
- 6 Qualitative Analysis
- 6.1 The AI impact on global horticulture lighting market
7 Five Forces Analysis
- 7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
- 7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Component
- 8 Market Segmentation by Component
- 8.1 Market segments
- Chart on Component - Market share 2024-2029 (%)
- Data Table on Component - Market share 2024-2029 (%)
- 8.2 Comparison by Component
- Chart on Comparison by Component
- Data Table on Comparison by Component
- 8.3 Hardware - Market size and forecast 2024-2029
- Chart on Hardware - Market size and forecast 2024-2029 ($ billion)
- Data Table on Hardware - Market size and forecast 2024-2029 ($ billion)
- Chart on Hardware - Year-over-year growth 2024-2029 (%)
- Data Table on Hardware - Year-over-year growth 2024-2029 (%)
- 8.4 Services - Market size and forecast 2024-2029
- Chart on Services - Market size and forecast 2024-2029 ($ billion)
- Data Table on Services - Market size and forecast 2024-2029 ($ billion)
- Chart on Services - Year-over-year growth 2024-2029 (%)
- Data Table on Services - Year-over-year growth 2024-2029 (%)
- 8.5 Software - Market size and forecast 2024-2029
- Chart on Software - Market size and forecast 2024-2029 ($ billion)
- Data Table on Software - Market size and forecast 2024-2029 ($ billion)
- Chart on Software - Year-over-year growth 2024-2029 (%)
- Data Table on Software - Year-over-year growth 2024-2029 (%)
- 8.6 Market opportunity by Component
- Market opportunity by Component ($ billion)
- Data Table on Market opportunity by Component ($ billion)
9 Market Segmentation by Installation Type
- 9 Market Segmentation by Installation Type
- 9.1 Market segments
- Chart on Market Segmentation by Installation Type - Market share 2024-2029 (%)
- Data Table on Market Segmentation by Installation Type - Market share 2024-2029 (%)
- 9.2 Comparison by Market Segmentation by Installation Type
- Chart on Comparison by Market Segmentation by Installation Type
- Data Table on Comparison by Market Segmentation by Installation Type
- 9.3 Retrofit installation - Market size and forecast 2024-2029
- Chart on Retrofit installation - Market size and forecast 2024-2029 ($ billion)
- Data Table on Retrofit installation - Market size and forecast 2024-2029 ($ billion)
- Chart on Retrofit installation - Year-over-year growth 2024-2029 (%)
- Data Table on Retrofit installation - Year-over-year growth 2024-2029 (%)
- 9.4 New installation - Market size and forecast 2024-2029
- Chart on New installation - Market size and forecast 2024-2029 ($ billion)
- Data Table on New installation - Market size and forecast 2024-2029 ($ billion)
- Chart on New installation - Year-over-year growth 2024-2029 (%)
- Data Table on New installation - Year-over-year growth 2024-2029 (%)
- 9.5 Market opportunity by Market Segmentation by Installation Type
- Market opportunity by Market Segmentation by Installation Type ($ billion)
- Data Table on Market opportunity by Market Segmentation by Installation Type ($ billion)
10 Market Segmentation by Application
- 10 Market Segmentation by Application
- 10.1 Market segments
- Chart on Application - Market share 2024-2029 (%)
- Data Table on Application - Market share 2024-2029 (%)
- 10.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
- 10.3 Greenhouse - Market size and forecast 2024-2029
- Chart on Greenhouse - Market size and forecast 2024-2029 ($ billion)
- Data Table on Greenhouse - Market size and forecast 2024-2029 ($ billion)
- Chart on Greenhouse - Year-over-year growth 2024-2029 (%)
- Data Table on Greenhouse - Year-over-year growth 2024-2029 (%)
- 10.4 Vertical farms - Market size and forecast 2024-2029
- Chart on Vertical farms - Market size and forecast 2024-2029 ($ billion)
- Data Table on Vertical farms - Market size and forecast 2024-2029 ($ billion)
- Chart on Vertical farms - Year-over-year growth 2024-2029 (%)
- Data Table on Vertical farms - Year-over-year growth 2024-2029 (%)
- 10.5 Indoor farms - Market size and forecast 2024-2029
- Chart on Indoor farms - Market size and forecast 2024-2029 ($ billion)
- Data Table on Indoor farms - Market size and forecast 2024-2029 ($ billion)
- Chart on Indoor farms - Year-over-year growth 2024-2029 (%)
- Data Table on Indoor farms - Year-over-year growth 2024-2029 (%)
- 10.6 Research and tissue culture - Market size and forecast 2024-2029
- Chart on Research and tissue culture - Market size and forecast 2024-2029 ($ billion)
- Data Table on Research and tissue culture - Market size and forecast 2024-2029 ($ billion)
- Chart on Research and tissue culture - Year-over-year growth 2024-2029 (%)
- Data Table on Research and tissue culture - Year-over-year growth 2024-2029 (%)
- 10.7 Others - Market size and forecast 2024-2029
- Chart on Others - Market size and forecast 2024-2029 ($ billion)
- Data Table on Others - Market size and forecast 2024-2029 ($ billion)
- Chart on Others - Year-over-year growth 2024-2029 (%)
- Data Table on Others - Year-over-year growth 2024-2029 (%)
- 10.8 Market opportunity by Application
- Market opportunity by Application ($ billion)
- Data Table on Market opportunity by Application ($ billion)
11 Customer Landscape
- 11 Customer Landscape
- 11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Geographic Landscape
- 12 Geographic Landscape
- 12.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)
- 12.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 12.3 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ billion)
- Data Table on North America - Market size and forecast 2024-2029 ($ billion)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - North America
- Data Table on Regional Comparison - North America
- 12.3.1 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ billion)
- Data Table on US - Market size and forecast 2024-2029 ($ billion)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)
- 12.3.2 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ billion)
- Data Table on Canada - Market size and forecast 2024-2029 ($ billion)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)
- 12.3.3 Mexico - Market size and forecast 2024-2029
- Chart on Mexico - Market size and forecast 2024-2029 ($ billion)
- Data Table on Mexico - Market size and forecast 2024-2029 ($ billion)
- Chart on Mexico - Year-over-year growth 2024-2029 (%)
- Data Table on Mexico - Year-over-year growth 2024-2029 (%)
- 12.4 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ billion)
- Data Table on Europe - Market size and forecast 2024-2029 ($ billion)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Europe
- Data Table on Regional Comparison - Europe
- 12.4.1 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ billion)
- Data Table on Germany - Market size and forecast 2024-2029 ($ billion)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)
- 12.4.2 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ billion)
- Data Table on UK - Market size and forecast 2024-2029 ($ billion)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)
- 12.4.3 The Netherlands - Market size and forecast 2024-2029
- Chart on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Data Table on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Chart on The Netherlands - Year-over-year growth 2024-2029 (%)
- Data Table on The Netherlands - Year-over-year growth 2024-2029 (%)
- 12.4.4 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ billion)
- Data Table on France - Market size and forecast 2024-2029 ($ billion)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)
- 12.4.5 Italy - Market size and forecast 2024-2029
- Chart on Italy - Market size and forecast 2024-2029 ($ billion)
- Data Table on Italy - Market size and forecast 2024-2029 ($ billion)
- Chart on Italy - Year-over-year growth 2024-2029 (%)
- Data Table on Italy - Year-over-year growth 2024-2029 (%)
- 12.4.6 Spain - Market size and forecast 2024-2029
- Chart on Spain - Market size and forecast 2024-2029 ($ billion)
- Data Table on Spain - Market size and forecast 2024-2029 ($ billion)
- Chart on Spain - Year-over-year growth 2024-2029 (%)
- Data Table on Spain - Year-over-year growth 2024-2029 (%)
- 12.5 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ billion)
- Data Table on APAC - Market size and forecast 2024-2029 ($ billion)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - APAC
- Data Table on Regional Comparison - APAC
- 12.5.1 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ billion)
- Data Table on China - Market size and forecast 2024-2029 ($ billion)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)
- 12.5.2 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ billion)
- Data Table on Japan - Market size and forecast 2024-2029 ($ billion)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)
- 12.5.3 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ billion)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)
- 12.5.4 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ billion)
- Data Table on India - Market size and forecast 2024-2029 ($ billion)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)
- 12.5.5 Australia - Market size and forecast 2024-2029
- Chart on Australia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Australia - Market size and forecast 2024-2029 ($ billion)
- Chart on Australia - Year-over-year growth 2024-2029 (%)
- Data Table on Australia - Year-over-year growth 2024-2029 (%)
- 12.5.6 Indonesia - Market size and forecast 2024-2029
- Chart on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Chart on Indonesia - Year-over-year growth 2024-2029 (%)
- Data Table on Indonesia - Year-over-year growth 2024-2029 (%)
- 12.6 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ billion)
- Data Table on South America - Market size and forecast 2024-2029 ($ billion)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - South America
- Data Table on Regional Comparison - South America
- 12.6.1 Brazil - Market size and forecast 2024-2029
- Chart on Brazil - Market size and forecast 2024-2029 ($ billion)
- Data Table on Brazil - Market size and forecast 2024-2029 ($ billion)
- Chart on Brazil - Year-over-year growth 2024-2029 (%)
- Data Table on Brazil - Year-over-year growth 2024-2029 (%)
- 12.6.2 Colombia - Market size and forecast 2024-2029
- Chart on Colombia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Colombia - Market size and forecast 2024-2029 ($ billion)
- Chart on Colombia - Year-over-year growth 2024-2029 (%)
- Data Table on Colombia - Year-over-year growth 2024-2029 (%)
- 12.6.3 Argentina - Market size and forecast 2024-2029
- Chart on Argentina - Market size and forecast 2024-2029 ($ billion)
- Data Table on Argentina - Market size and forecast 2024-2029 ($ billion)
- Chart on Argentina - Year-over-year growth 2024-2029 (%)
- Data Table on Argentina - Year-over-year growth 2024-2029 (%)
- 12.7 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Middle East and Africa
- Data Table on Regional Comparison - Middle East and Africa
- 12.7.1 UAE - Market size and forecast 2024-2029
- Chart on UAE - Market size and forecast 2024-2029 ($ billion)
- Data Table on UAE - Market size and forecast 2024-2029 ($ billion)
- Chart on UAE - Year-over-year growth 2024-2029 (%)
- Data Table on UAE - Year-over-year growth 2024-2029 (%)
- 12.7.2 Saudi Arabia - Market size and forecast 2024-2029
- Chart on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Chart on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- Data Table on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- 12.7.3 South Africa - Market size and forecast 2024-2029
- Chart on South Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on South Africa - Year-over-year growth 2024-2029 (%)
- Data Table on South Africa - Year-over-year growth 2024-2029 (%)
- 12.7.4 Israel - Market size and forecast 2024-2029
- Chart on Israel - Market size and forecast 2024-2029 ($ billion)
- Data Table on Israel - Market size and forecast 2024-2029 ($ billion)
- Chart on Israel - Year-over-year growth 2024-2029 (%)
- Data Table on Israel - Year-over-year growth 2024-2029 (%)
- 12.7.5 Turkey - Market size and forecast 2024-2029
- Chart on Turkey - Market size and forecast 2024-2029 ($ billion)
- Data Table on Turkey - Market size and forecast 2024-2029 ($ billion)
- Chart on Turkey - Year-over-year growth 2024-2029 (%)
- Data Table on Turkey - Year-over-year growth 2024-2029 (%)
- 12.8 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)
13 Drivers, Challenges, and Opportunity
- 13 Drivers, Challenges, and Opportunity
- 13.1 Market drivers
- Increasing adoption of controlled environment agriculture for global food security
- Continuous technological advancements and decreasing costs of led lighting
- Growing legalization and commercial cultivation of cannabis
- 13.2 Market challenges
- High initial capital investment and operational expenditure
- Economic viability and profitability struggles of end-user CEA operations
- Lack of industry-wide standardization and grower knowledge gap
- 13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
- 13.4 Market opportunities
- Integration of smart controls, IoT, and artificial intelligence
- Intensified focus on crop-specific spectral science and light recipes
- Development of application-specific lighting hardware and form factors
14 Competitive Landscape
- 14 Competitive Landscape
- 14.1 Overview
- 14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 14.3 Landscape disruption
- Overview on factors of disruption
- 14.4 Industry risks
- Impact of key risks on business
15 Competitive Analysis
- 15 Competitive Analysis
- 15.1 Companies profiled
- 15.2 Company ranking index
- 15.3 Market positioning of companies
- Matrix on companies position and classification
- 15.4 Acuity Brands Inc.
- Acuity Brands Inc. - Overview
- Acuity Brands Inc. - Business segments
- Acuity Brands Inc. - Key offerings
- Acuity Brands Inc. - Segment focus
- SWOT
- 15.5 Bridgelux Inc.
- Bridgelux Inc. - Overview
- Bridgelux Inc. - Product / Service
- Bridgelux Inc. - Key offerings
- SWOT
- 15.6 California LightWorks
- California LightWorks - Overview
- California LightWorks - Product / Service
- California LightWorks - Key offerings
- SWOT
- 15.7 Cree LED
- Cree LED - Overview
- Cree LED - Product / Service
- Cree LED - Key offerings
- SWOT
- 15.8 Everlight Electronics Co. Ltd.
- Everlight Electronics Co. Ltd. - Overview
- Everlight Electronics Co. Ltd. - Product / Service
- Everlight Electronics Co. Ltd. - Key offerings
- SWOT
- 15.9 Gavita International B.V.
- Gavita International B.V. - Overview
- Gavita International B.V. - Product / Service
- Gavita International B.V. - Key offerings
- SWOT
- 15.10 Heliospectra AB
- Heliospectra AB - Overview
- Heliospectra AB - Product / Service
- Heliospectra AB - Key offerings
- SWOT
- 15.11 Horticulture Lighting Group
- Horticulture Lighting Group - Overview
- Horticulture Lighting Group - Product / Service
- Horticulture Lighting Group - Key offerings
- SWOT
- 15.12 Hortilux Schrede
- Hortilux Schrede - Overview
- Hortilux Schrede - Product / Service
- Hortilux Schrede - Key offerings
- SWOT
- 15.13 ILUMINAR Lighting LLC
- ILUMINAR Lighting LLC - Overview
- ILUMINAR Lighting LLC - Product / Service
- ILUMINAR Lighting LLC - Key offerings
- SWOT
- 15.14 Lumileds Holding BV
- Lumileds Holding BV - Overview
- Lumileds Holding BV - Product / Service
- Lumileds Holding BV - Key offerings
- SWOT
- 15.15 OSRAM GmbH
- OSRAM GmbH - Overview
- OSRAM GmbH - Business segments
- OSRAM GmbH - Key news
- OSRAM GmbH - Key offerings
- OSRAM GmbH - Segment focus
- SWOT
- 15.16 Samsung Electronics Co. Ltd.
- Samsung Electronics Co. Ltd. - Overview
- Samsung Electronics Co. Ltd. - Business segments
- Samsung Electronics Co. Ltd. - Key news
- Samsung Electronics Co. Ltd. - Key offerings
- Samsung Electronics Co. Ltd. - Segment focus
- SWOT
- 15.17 Signify NV
- Signify NV - Overview
- Signify NV - Business segments
- Signify NV - Key news
- Signify NV - Key offerings
- Signify NV - Segment focus
- SWOT
- 15.18 Valoya Oy
- Valoya Oy - Overview
- Valoya Oy - Product / Service
- Valoya Oy - Key offerings
- SWOT
16 Appendix
- 16 Appendix
- 16.1 Scope of the report
- Market definition
- Objectives
- Notes and caveats
- 16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 16.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 16.4 Research methodology
- 16.5 Data procurement
- 16.6 Data validation
- 16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 16.8 Data synthesis
- 16.9 360 degree market analysis
- 360 degree market analysis
- 16.10 List of abbreviations
INFORMATION SOURCES
DATA ANALYSIS
REPORT WRITING
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