The market value of LED horticultural lighting lamps will reach 3. 8 billion US dollars in 2027

by:ALLTOP      2020-03-22
According to a report released by Navigant Research, a US market Research organization, LED has improved efficiency, increased crop yield and achieved higher profits for customers. In addition, major lighting manufacturers are providing tunable LED solutions to support lighting needs at all stages of the plant growth cycle. As a result, the light can be adjusted. According to the new report, the revenue of horticultural lighting is expected to reach 3. 8 billion US dollars in 2027. According to a report released by Navigant Research, a US market Research organization, LED has improved efficiency, increased crop yield and achieved higher profits for customers. In addition, major lighting manufacturers are providing tunable LED solutions to support lighting needs at all stages of the plant growth cycle. In this way, the adjustment of light is increased, and farmers can adjust the light output to find the ideal light ratio, thus realizing the maximization of yield and the cultivation of various crops. Courtney Marshall, a Research analyst at Navigant Research, said: the growth of the horticultural LED application market has promoted the reduction of lamp installation costs and the further adoption of LED technology. Suppliers continue to enhance product competitiveness through high-quality research, coupled with this more affordable price and higher adoption rate, thus forming a market environment characterized by innovation and experiment. Navigant pointed out that at present, the industry does not have a ready-made method that is universally applicable, thus providing opportunities for cooperation among start-up companies, major enterprises and universities, provide customers with effective and scalable horticultural lighting solutions. In addition, developing countries in parts of the Asia-Pacific region, especially in areas suffering from pollution, water shortages and food security, hope to use better technologies. The rising indoor agricultural facilities have promoted the development of the indoor agricultural market, thus promoting the continuous popularization of LED gardening lighting.
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