サマリー

成長ライトの世界市場は、2022年に15億米ドル、2028年には72億米ドルに達すると予測されており、予測期間中の年平均成長率は30.7%となっています。天候に左右されることなく、一年中同じ品質の作物を生産できるLED栽培ライトの高い潜在能力は、栽培ライト市場の成長を促進していますが、LED栽培ライトの高いセットアップと設置コストは、栽培ライト市場の成長を抑制しています。

ソフトウェア＆サービス分野は予測期間中、より高いCAGRで成長すると予想される
ソフトウェア＆サービス分野は、予測期間中に35.1％の最も高いCAGRを達成すると予想されています。植物の品質を向上させ、植物によって異なる光の要求を満たすだけでなく、生産量を最大化するために必要な最適な照明環境を作り、維持するために、成長ライトシステムにはさまざまな種類のソフトウェアソリューションが使用されています。また、ソフトウェアとともに、メンテナンスと修理のサービスも、成長ライト市場で事業を展開する企業によって提供されています。

>ワット数別では300ワット以上のセグメントが高いCAGRで成長を記録する
>300W超のセグメントは、予測期間中に31.9%という高いCAGRを経験すると予想されています。300W超の成長ライトは、さまざまなタイプの栽培室、特にテント内の過熱のリスクを引き起こすことなく、植物に特定のケアとより集中した光を必要とするものに理想的に適しています。>300Wの成長ライトは、フルスペクトル光を提供し、植物の成長のすべての段階にとって安全です。Signify Holding、ams-OSRAM AG、Gavita International B.V.、Heliospectra AB、California LightWorksなどのエコシステム・プレーヤーは、300ワット超のグロウライトを提供しています。例えば、Signify Holdingは、レタスやその他の葉物野菜、ハーブ、柔らかい果物、若い植物などの多層作物栽培を最適化するために、新しいPhilips GreenPower LED生産モジュール 3.0 (49-635 watt) を発表しました。この新しいモジュールにより、生産者はさまざまな作物や成長段階のニーズに合わせて、カラースペクトルを簡単に調整することができます。

フルスペクトル分野は、より高いCAGRで成長する可能性が高い
フルスペクトル分野は、予測期間中に40.4%という高いCAGRを記録すると予測されています。フルスペクトル光源は、照明条件を素早く変更でき、色スペクトルの比率を完全に制御できるなど、さまざまな利点があるため、普及が進んでいる。フルスペクトル光源は、照明条件を素早く変更でき、色スペクトルの比率を完全にコントロールできるなど、自然の太陽光を忠実に模倣したものです。また、フルスペクトル照明は、成長速度を速めたり遅くしたり、根の発達を促進したり、栄養状態を改善したり、色を変えたりすることができます。これらの要因が、成長ライト市場におけるフルスペクトル成長ライトの成長に寄与しています。

直販チャネル部門は予測期間中に大きな成長を記録する
ダイレクトセールスチャネル分野は、予測期間中、最も速い年平均成長率44.6%で成長すると予想されています。直販チャネルは、企業が製品流通と顧客体験のすべての側面をコントロールすることを可能にします。顧客は常にサプライヤーと直接取引するため、直販チャネルはこれらの問題をより効率的に解決するのに役立ちます。また、流通やeコマースの販売チャネルと比較すると、時間の節約になります。これらは、成長ライト市場における直販チャネルの潜在的な成長をもたらす要因である。

インターライティング部門はより高いCAGRで成長すると思われる
インターライト分野は、予測期間中に35.4%という高いCAGRを記録すると予想されています。インターライトは、植物のキャノピーによってトップライトから遮断された植物の下部にエネルギーを供給するものである。インターライトは、植物の樹冠によってトップライトから遮断された植物の下部にエネルギーを供給するもので、不要な熱を発生させることなく、植物間に光を供給することができます。このため、すべての植物が最も恩恵を受けるポイントで光を照射することができ、大きなメリットがあります。

レトロフィットインストールセグメントは、より高いCAGRで成長する可能性が高い
後付け設置の分野は、予測期間中に38.7%という2番目に高いCAGRを経験すると予想されます。一般的に、成長ライトの寿命は約5年です。新規設置の場合、5年後に成長ライトの更新バージョンの要件が発生し、将来的に推進するためにレトロフィットすることができますダウンライン。また、LED、プラズマ、誘導などの新しい成長ライト技術の導入により、成長ライトシステムを改造する際に、生産者が選択できる選択肢が増えました。さらに、温室用アプリケーションにおけるハイブリッド照明システムの採用が増加していることも、後付け設置市場の成長に寄与すると期待されています。成長ライトの低コストな後付け設置により、生産者は利益と収量を向上させることができます。


カンナビス栽培植物分野は、より高いCAGRで成長すると思われる
大麻分野は、予測期間中に36.1%という最も高いCAGRを記録すると予想されています。この成長は、様々な地域政府によって薬用としての大麻栽培が合法化されたことに起因しています。

垂直農場アプリケーションは、最も高いCAGRで成長すると思われる
垂直農法分野は、予測期間中に最も高いCAGR 33.9%で成長すると予想されています。垂直農法への投資に対する大企業の関心が高まっているのは、垂直農法業界が急速に成長していることが大きな理由である。株式会社東芝（日本）とパナソニック株式会社（日本）は、世界のさまざまな地域で垂直農場を設置するために、生産者に資金と技術の支援を提供し始めています。栽培用照明システムの大手プロバイダーであるGE社（米国）は、株式会社みらい（日本）と提携し、日本の複数の都市に垂直農園のチェーンを構築しています。このような垂直農法の進展は、今後数年間、栽培用ライトの需要を押し上げると思われます。

RoWは2番目に高いCAGRで成長を記録する。
RoWは、予測期間中に30.3%という2番目に高いCAGRを目撃すると予想されています。中東は、予測期間中にRoWの成長ライト市場で最大の規模を獲得すると思われます。この地域は、地元で食料を栽培し、増加する人口の需要を満たすために、都市農業の方法論を採用し始めています。中東では水不足が深刻で、気温は日中の猛暑から夜間の極寒までさまざまです。そこで、水耕栽培の培地とLED照明を使って、果物や野菜を栽培する室内農場や垂直農場が中東で開発されており、制御された環境で水の蒸発を避けることができます。

予備選の内訳
本調査には、部品サプライヤーからTier1企業、OEMに至るまで、様々な業界専門家による洞察が含まれています。プライマリーの内訳は以下の通りです：

- 企業タイプ別 - Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20
- 役職別 - Cレベルエグゼクティブ - 40%, マネージャー - 30%, その他 - 30
- 地域別-北米40％、欧州20％、アジア太平洋30％、RoW10％。

グローライト市場は、Signify Holding（オランダ）、Gavita International B.V.（オランダ）、GE Lighting（米国）、Current（米国）、ams-OSRAM AG（スチリア）、Heliopsetra AB（スウェーデン）、カリフォルニアライトワークス（米国）、Valoya Oy（フィンランド）、EYE Hortilux（米国）、Hortilux Schréder（オランダ）といった少数の世界的に確立したプレーヤーによって支配されています。本調査では、グロウライト市場におけるこれらの主要企業の会社概要、最近の動向、主要な市場戦略など、詳細な競合分析が含まれています。

調査範囲です：
本レポートでは、育成ライト市場をセグメント化し、提供ワット数、スペクトル、栽培植物、照明タイプ、光源、アプリケーション、設置タイプ、販売チャネル、地域ごとに、その規模を予測しています。また、市場に関わる促進要因、阻害要因、機会、課題についても論じています。北米、欧州、アジア太平洋、RoWの4つの主要地域にわたる市場の詳細な見解を示しています。成長ライトのエコシステムにおける主要なプレーヤーとその競争分析とともに、サプライチェーン分析も含まれています。

本レポートを購入する主なメリット
- 主な推進要因の分析：（生鮮食品への需要の高まりと耕作地の減少、固体照明技術と制御環境農業（CEA）の実践の採用に対する政府の強力な支援、垂直農場と温室および関連する先端技術の確立への投資の増加、エネルギー効率と従来の照明技術上のLED成長ライトに関連する長寿命などの大きな利点、LED成長ライトの高い潜在能力により農家が気象条件に関係なく年間を通じて同じ品質の作物を生産することができる）。制約（LED栽培ライトの高いセットアップと設置コスト、およびさまざまな作物のための多様な光スペクトルの複雑な要件）。機会（農場から食卓へというトレンドの受け入れ拡大、各国における大麻の合法化、照明器具の自動化とLED栽培ライトの技術的進歩、アジアおよび中東市場における垂直農業の潜在機会、園芸の収量推定と省エネルギーのためのハードウェア、ソフトウェア、データ分析プラットフォームの一体化）。課題（栽培灯の配置と位置、CEA技術の展開に伴う技術的ノウハウの必要性と複雑さ、園芸灯とその器具の製品品質にアクセスするための標準試験方法の不在、CEA施設における異なるコンポーネントや技術の統合の困難さ）。
- 製品開発/イノベーション：グロウライト市場における今後の技術、研究開発活動、新製品・新サービスの発売に関する詳細な洞察
- 市場開拓：有利な市場に関する包括的な情報 - 当レポートは、様々な地域にわたるグローライト市場を分析しています。
- 市場の多様化：新製品・サービス、未開拓の地域、最近の開発、成長ライト市場への投資に関する詳細な情報
- 競合他社の評価シグニファイホールディング（オランダ）、ガビタインターナショナルB.V（オランダ）、GEライティング（米国）、カレント（米国）、ams-OSRAM AG（オーストリア）、Heliopsetra AB（スウェーデン）、カリフォルニアライトワークス（米国）、Valoya Oy（フィンランド）、EYE Hortilux（米国）、Hortilux Schréder（オランダ）などの成長ライト市場における主要企業の市場シェア、成長戦略およびサービス提供の詳細評価を行っている。

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目次

1 INTRODUCTION 30 1.1 STUDY OBJECTIVES 30 1.2 MARKET DEFINITION 30 1.2.1 INCLUSIONS & EXCLUSIONS 31 1.3 STUDY SCOPE 32 1.3.1 MARKETS COVERED 32 FIGURE 1 GROW LIGHTS MARKET SEGMENTATION 32 1.3.2 GEOGRAPHIC SCOPE 32 1.3.3 YEARS CONSIDERED 33 1.4 CURRENCY 33 1.5 STAKEHOLDERS 33 1.6 SUMMARY OF CHANGES 34 2 RESEARCH METHODOLOGY 35 2.1 RESEARCH DATA 35 FIGURE 2 GROW LIGHTS MARKET: RESEARCH DESIGN 36 2.1.1 SECONDARY AND PRIMARY RESEARCH 37 2.1.2 SECONDARY DATA 38 2.1.2.1 List of key secondary sources 38 2.1.2.2 Key data from secondary sources 39 2.1.3 PRIMARY DATA 39 2.1.3.1 List of key primary interview participants 39 2.1.3.2 Breakdown of primaries 39 FIGURE 3 BREAKDOWN OF PRIMARIES 40 2.1.3.3 Key data from primary sources 40 2.1.3.4 Key industry insights 41 2.2 FACTOR ANALYSIS 41 2.2.1 SUPPLY-SIDE ANALYSIS 41 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY-SIDE ANALYSIS) – REVENUES GENERATED BY COMPANIES FROM SALES OF PRODUCTS OFFERED IN GROW LIGHTS MARKET 41 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (TOP-DOWN APPROACH, SUPPLY-SIDE ANALYSIS) – ILLUSTRATION OF REVENUE ESTIMATION IN GROW LIGHTS MARKET 42 2.3 MARKET SIZE ESTIMATION 43 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS 43 2.3.1 BOTTOM-UP APPROACH 43 2.3.1.1 Approach for obtaining market shares using bottom-up approach (demand side) 44 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 44 2.3.2 TOP-DOWN APPROACH 44 2.3.2.1 Approach for obtaining market shares using top-down approach (supply side) 45 FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 45 2.3.3 GROWTH PROJECTIONS AND FORECASTING ASSUMPTIONS 45 TABLE 1 MARKET GROWTH ASSUMPTIONS 45 2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 46 FIGURE 9 GROW LIGHTS MARKET: DATA TRIANGULATION 46 2.5 ASSUMPTIONS 47 TABLE 2 KEY ASSUMPTIONS: MACRO AND MICRO-ECONOMIC ENVIRONMENT 47 2.6 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON GROW LIGHTS MARKET 48 TABLE 3 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON GROW LIGHTS MARKET 48 2.7 LIMITATIONS 48 2.8 RISK ASSESSMENT 48 TABLE 4 RISK ASSESSMENT: GROW LIGHTS MARKET 48 3 EXECUTIVE SUMMARY 49 FIGURE 10 VERTICAL FARMING APPLICATION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 49 FIGURE 11 CANNABIS SEGMENT TO WITNESS HIGHEST GROWTH RATE DURING FORECAST PERIOD 50 FIGURE 12 EUROPE TO DOMINATE MARKET FOR GROW LIGHTS DURING FORECAST PERIOD 50 3.1 IMPACT OF RECESSION ON GROW LIGHTS MARKET 51 FIGURE 13 PRE- AND POST-RECESSION IMPACT ON GROW LIGHTS MARKET 51 4 PREMIUM INSIGHTS 52 4.1 GROWTH OPPORTUNITIES FOR PLAYERS IN GROW LIGHTS MARKET 52 FIGURE 14 FACTORS SUCH AS HIGH DEMAND FOR FRESH FOOD AND LOSS OF ARABLE LAND TO DRIVE GROW LIGHTS MARKET 52 4.2 GROW LIGHTS MARKET, BY OFFERING 52 FIGURE 15 SOFTWARE & SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 52 4.3 GROW LIGHTS MARKET, BY SALES CHANNEL 53 FIGURE 16 DIRECT SALES CHANNELS TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 53 4.4 GROW LIGHTS MARKET, BY WATTAGE 53 FIGURE 17 >300-WATT GROW LIGHTS TO DOMINATE MARKET IN 2028 53 4.5 GROW LIGHTS MARKET, BY INSTALLATION TYPE 54 FIGURE 18 RETROFIT INSTALLATIONS TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 54 4.6 GROW LIGHTS MARKET, BY SPECTRUM 54 FIGURE 19 FULL-SPECTRUM LIGHTS TO REGISTER HIGHER GROWTH RATE DURING FORECAST PERIOD 54 4.7 GROW LIGHTS MARKET, BY REGION 55 FIGURE 20 EUROPE TO DOMINATE MARKET IN 2028 55 4.8 GROW LIGHTS MARKET, BY COUNTRY 55 FIGURE 21 SOUTHEAST ASIAN COUNTRIES TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 55 5 MARKET OVERVIEW 56 5.1 INTRODUCTION 56 5.2 MARKET DYNAMICS 56 FIGURE 22 GROW LIGHTS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 56 5.2.1 DRIVERS 57 5.2.1.1 High demand for fresh food and loss of arable land 57 FIGURE 23 POPULATION VS. ARABLE LAND, 2020–2050 57 5.2.1.2 Strong government support for adoption of solid-state lighting technology and controlled-environment agriculture (CEA) practices 58 TABLE 5 INCENTIVES IN US STATES FOR ADOPTION OF LED GROW LIGHTS 58 5.2.1.3 Increased investments in establishing vertical farms and greenhouses and associated advanced technologies 59 TABLE 6 LIST OF NOTICEABLE INVESTMENTS IN VERTICAL AND GREENHOUSE FARMING 59 5.2.1.4 Significant benefits such as energy efficiency and longer life associated with LED grow lights over conventional lighting technologies 60 TABLE 7 TYPICAL SPECIFICATIONS OF LED VS. HID 61 TABLE 8 REDUCTIONS IN HARVEST CYCLE USING LED HORTICULTURE LIGHTING ON CANNABIS STRAINS 61 5.2.1.5 High potential of LED grow lights in enabling farmers to produce quality crops all year round irrespective of weather conditions 62 FIGURE 24 IMPACT OF DRIVERS ON GROW LIGHTS MARKET 63 5.2.2 RESTRAINTS 63 5.2.2.1 High setup and installation costs of LED grow lights 63 5.2.2.2 Complex requirements for varied light spectrums for different crops 64 TABLE 9 STANDARD SPECTRUMS 65 FIGURE 25 IMPACT OF RESTRAINTS ON GROW LIGHTS MARKET 65 5.2.3 OPPORTUNITIES 65 5.2.3.1 Growing acceptance of farm-to-table trend 65 5.2.3.2 Legalization of cannabis in different countries 66 5.2.3.3 Automation in lighting fixtures and technological advancements in LED grow lights 66 5.2.3.4 Potential opportunities in Asian and Middle Eastern markets for vertical farming 67 5.2.3.5 Integration of hardware, software, and data analytics platforms for horticulture yield estimation and energy conservation 68 FIGURE 26 IMPACT OF OPPORTUNITIES ON GROW LIGHTS MARKET 68 5.2.4 CHALLENGES 69 5.2.4.1 Grow lights placement and positioning 69 5.2.4.2 Need for technical know-how and complexities associated with deployment of CEA technology 69 5.2.4.3 Absence of standard testing practices for assessing product quality of horticulture lights and fixtures 69 5.2.4.4 Difficulties in integrating different components and technologies in CEA facilities 70 FIGURE 27 IMPACT OF CHALLENGES ON GROW LIGHTS MARKET 71 5.3 SUPPLY CHAIN ANALYSIS 72 FIGURE 28 SUPPLY CHAIN OF GROW LIGHTS MARKET 72 TABLE 10 GROW LIGHTS MARKET: ECOSYSTEM 74 5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN GROW LIGHTS MARKET 74 FIGURE 29 REVENUE SHIFT IN GROW LIGHTS MARKET 74 5.4 GROW LIGHTS MARKET ECOSYSTEM 75 FIGURE 30 ECOSYSTEM OF GROW LIGHTS 75 5.5 AVERAGE SELLING PRICE ANALYSIS 75 5.5.1 AVERAGE SELLING PRICE OF GROW LIGHTS OFFERED BY KEY PLAYERS 75 FIGURE 31 AVERAGE SELLING PRICE OF GROW LIGHTS OFFERED BY KEY PLAYERS 75 TABLE 11 AVERAGE SELLING PRICE OF GROW LIGHTS, BY LIGHT SOURCE (USD) 76 5.5.2 AVERAGE SELLING PRICE TREND 76 TABLE 12 AVERAGE PRICE: GROW LIGHTS, BY LIGHT SOURCE (USD) 76 FIGURE 32 AVERAGE PRICE: GROW LIGHTS, BY LIGHT SOURCE (USD) 76 5.6 KEY STAKEHOLDERS & BUYING CRITERIA 77 5.6.1 KEY STAKEHOLDERS IN BUYING PROCESS 77 FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP APPLICATIONS 77 TABLE 13 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP APPLICATIONS (%) 77 5.6.2 BUYING CRITERIA 78 FIGURE 34 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 78 TABLE 14 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 78 5.7 TECHNOLOGY TRENDS 79 5.7.1 FULL-SPECTRUM LED GROW LIGHT SYSTEMS 79 5.7.2 SOLID-STATE LIGHTING TECHNOLOGY 79 5.7.3 ADVANCED UV LED TECHNOLOGY FOR HORTICULTURAL APPLICATIONS 79 5.7.4 CENTRALIZED POWER SUPPLY 80 5.8 PORTER’S FIVE FORCES ANALYSIS 80 TABLE 15 GROW LIGHTS MARKET: PORTER’S FIVE FORCES ANALYSIS 80 FIGURE 35 PORTER’S FIVE FORCES ANALYSIS 81 5.8.1 THREAT OF NEW ENTRANTS 81 5.8.2 THREAT OF SUBSTITUTES 82 5.8.3 BARGAINING POWER OF SUPPLIERS 82 5.8.4 BARGAINING POWER OF BUYERS 82 5.8.5 INTENSITY OF COMPETITIVE RIVALRY 82 5.9 CASE STUDIES 83 5.9.1 FASTER FINISHING AND ENHANCED VARIEGATION WITH PHILIPS LED GROW LIGHTS 83 5.9.2 LJUSGÅRDA ACHIEVED ULTIMATE VERTICAL GROWTH FROM 0 TO 7,000 SQ. M. USING LED LIGHTING SOLUTIONS FROM HELIOSPECTRA 83 5.9.3 TOMATO GRAFTING AND HEALING WITH HELIOSPECTRA’S LED GROW LIGHTS 83 5.9.4 GAINING CUSTOMER APPRECIATION ABOUT QUALITY OF PLANTS GROWN UNDER PHILIPS LEDS 84 5.10 TRADE ANALYSIS 84 5.10.1 IMPORT SCENARIO 84 TABLE 16 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 85 5.10.2 EXPORT SCENARIO 85 TABLE 17 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 85 5.11 PATENT ANALYSIS, 2012–2022 86 FIGURE 36 NUMBER OF PATENTS GRANTED FOR GROW LIGHTS, 2012–2022 86 FIGURE 37 REGIONAL ANALYSIS OF PATENTS GRANTED FOR GROW LIGHT SOLUTIONS, 2022 87 TABLE 18 LIST OF PATENTS PERTAINING TO GROW LIGHTS MARKET, 2021–2022 87 5.12 KEY CONFERENCES & EVENTS, 2023–2024 90 TABLE 19 GROW LIGHTS MARKET: DETAILED LIST OF CONFERENCES & EVENTS 90 5.13 STANDARDS AND REGULATORY LANDSCAPE 92 5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 92 TABLE 20 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 92 TABLE 21 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 92 TABLE 22 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 92 TABLE 23 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 93 5.13.2 STANDARDS 93 5.14 TARIFF ANALYSIS 94 TABLE 24 TARIFFS FOR HS CODE 9405 EXPORTED BY CHINA (2021) 94 TABLE 25 TARIFFS FOR HS CODE 9405 EXPORTED BY US (2021) 94 6 GROW LIGHTS MARKET, BY OFFERING 95 6.1 INTRODUCTION 96 FIGURE 38 HARDWARE OFFERINGS TO DOMINATE GROW LIGHTS MARKET DURING FORECAST PERIOD 96 TABLE 26 GROW LIGHTS MARKET, BY OFFERING, 2019–2022 (USD MILLION) 96 TABLE 27 GROW LIGHTS MARKET, BY OFFERING, 2023–2028 (USD MILLION) 96 TABLE 28 GROW LIGHTS MARKET, BY OFFERING, 2019–2022 (THOUSAND UNITS) 97 TABLE 29 GROW LIGHTS MARKET, BY OFFERING, 2023–2028 (THOUSAND UNITS) 97 6.2 HARDWARE 97 6.2.1 LARGE NUMBER OF MANUFACTURING COMPANIES PROVIDING GROW LIGHTS AS HARDWARE COMPONENTS TO DRIVE MARKET GROWTH 97 TABLE 30 GROW LIGHTS MARKET FOR HARDWARE, BY REGION, 2019–2022 (USD MILLION) 98 TABLE 31 GROW LIGHTS MARKET FOR HARDWARE, BY REGION, 2023–2028 (USD MILLION) 98 TABLE 32 GROW LIGHTS MARKET FOR HARDWARE, BY APPLICATION, 2019–2022 (USD MILLION) 98 TABLE 33 GROW LIGHTS MARKET FOR HARDWARE, BY APPLICATION, 2023–2028 (USD MILLION) 99 6.3 SOFTWARE & SERVICES 99 6.3.1 GROWING USE OF SOFTWARE SOLUTIONS TO IMPROVE PLANT QUALITY TO BOOST MARKET 99 TABLE 34 GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY REGION, 2019–2022 (USD MILLION) 100 TABLE 35 GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY REGION, 2023–2028 (USD MILLION) 100 TABLE 36 GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY APPLICATION, 2019–2022 (USD MILLION) 101 TABLE 37 GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY APPLICATION, 2023–2028 (USD MILLION) 101 7 GROW LIGHTS MARKET, BY WATTAGE 102 7.1 INTRODUCTION 103 FIGURE 39 GROW LIGHTS MARKET, BY WATTAGE 103 FIGURE 40 >300-WATT GROW LIGHTS TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028 103 TABLE 38 GROW LIGHTS MARKET, BY WATTAGE, 2019–2022 (USD MILLION) 104 TABLE 39 GROW LIGHTS MARKET, BY WATTAGE, 2023–2028 (USD MILLION) 104 7.2 <300 WATTS 104 7.2.1 ABILITY TO USE LOW-POWER LIGHTS FOR EXTENDED PERIODS WITHOUT HARMING PLANTS TO PROPEL MARKET GROWTH 104 TABLE 40 <300-WATT GROW LIGHTS MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 105 TABLE 41 <300-WATT GROW LIGHTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 105 7.3 >300 WATTS 105 7.3.1 IMPROVED GROW QUALITY AND ENERGY SAVINGS TO DRIVE DEMAND FOR >300-WATT GROW LIGHTS 105 TABLE 42 >300-WATT GROW LIGHTS MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 106 TABLE 43 >300-WATT GROW LIGHTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 106 8 GROW LIGHTS MARKET, BY SPECTRUM 107 8.1 INTRODUCTION 108 FIGURE 41 LIMITED-SPECTRUM GROW LIGHTS TO HOLD LARGEST SHARE OF MARKET DURING FORECAST PERIOD 108 TABLE 44 GROW LIGHTS MARKET, BY SPECTRUM, 2019–2022 (USD MILLION) 108 TABLE 45 GROW LIGHTS MARKET, BY SPECTRUM, 2023–2028 (USD MILLION) 109 8.2 FULL SPECTRUM 109 8.2.1 ADVANTAGES SUCH AS ENHANCED ROOT DEVELOPMENT AND IMPROVED NUTRITION AND COLOR TO DRIVE ADOPTION OF FULL-SPECTRUM LIGHTS 109 8.3 LIMITED SPECTRUM 110 8.3.1 ADVANTAGES SUCH AS HIGH EFFICIENCY FOR PLANT GROWTH AND ENERGY EFFICIENCY TO BOOST MARKET 110 9 GROW LIGHTS MARKET, BY CULTIVATED PLANT 111 9.1 INTRODUCTION 112 FIGURE 42 FRUITS & VEGETABLES TO DOMINATE GROW LIGHTS MARKET DURING FORECAST PERIOD 112 TABLE 46 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2019–2022 (USD MILLION) 112 TABLE 47 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2023–2028 (USD MILLION) 112 9.2 FRUITS & VEGETABLES 113 9.2.1 INCREASED DEMAND FOR HIGH-QUALITY ORGANIC FRUITS & VEGETABLES TO PROMOTE ADOPTION OF GROW LIGHTS 113 TABLE 48 GROW LIGHTS MARKET FOR FRUITS & VEGETABLES, BY REGION, 2019–2022 (USD MILLION) 116 TABLE 49 GROW LIGHTS MARKET FOR FRUITS & VEGETABLES, BY REGION, 2023–2028 (USD MILLION) 116 9.3 FLOWERS 116 9.3.1 EUROPE TO CAPTURE SIGNIFICANT SHARE OF GROW LIGHTS MARKET FOR FLOWERS IN COMING YEARS 116 TABLE 50 GROW LIGHTS MARKET FOR FLOWERS, BY REGION, 2019–2022 (USD MILLION) 117 TABLE 51 GROW LIGHTS MARKET FOR FLOWERS, BY REGION, 2023–2028 (USD MILLION) 118 9.4 CANNABIS 118 9.4.1 LEGALIZATION OF CANNABIS FOR MEDICINAL PURPOSES TO DRIVE MARKET GROWTH 118 TABLE 52 GLOBAL CANNABIS CONSUMPTION 120 TABLE 53 GROW LIGHTS MARKET FOR CANNABIS, BY REGION, 2019–2022 (USD MILLION) 120 TABLE 54 GROW LIGHTS MARKET FOR CANNABIS, BY REGION, 2023–2028 (USD MILLION) 120 10 GROW LIGHTS MARKET, BY INSTALLATION TYPE 121 10.1 INTRODUCTION 122 FIGURE 43 RETROFIT INSTALLATIONS TO REGISTER HIGHER GROWTH RATE DURING FORECAST PERIOD 122 TABLE 55 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2019–2022 (USD MILLION) 122 TABLE 56 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2023–2028 (USD MILLION) 123 10.2 NEW INSTALLATIONS 123 10.2.1 GROWING POPULARITY OF VERTICAL AND INDOOR FARMING TO DRIVE DEMAND FOR NEW INSTALLATIONS OF GROW LIGHTS 123 TABLE 57 GROW LIGHTS MARKET FOR NEW INSTALLATIONS, BY REGION, 2019–2022 (USD MILLION) 124 TABLE 58 GROW LIGHTS MARKET FOR NEW INSTALLATIONS, BY REGION, 2023–2028 (USD MILLION) 124 10.3 RETROFIT INSTALLATIONS 124 10.3.1 BENEFITS SUCH AS IMPROVED PLANT QUALITY AND REDUCED MAINTENANCE COSTS TO BOOST ADOPTION OF RETROFIT INSTALLATIONS 124 TABLE 59 GROW LIGHTS MARKET FOR RETROFIT INSTALLATIONS, BY REGION, 2019–2022 (USD MILLION) 125 TABLE 60 GROW LIGHTS MARKET FOR RETROFIT INSTALLATIONS, BY REGION, 2023–2028 (USD MILLION) 125 11 GROW LIGHTS MARKET, BY LIGHTING TYPE 126 11.1 INTRODUCTION 127 FIGURE 44 TOPLIGHTING SEGMENT TO ACCOUNT FOR LARGEST SHARE OF MARKET DURING FORECAST PERIOD 127 TABLE 61 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2019–2022 (USD MILLION) 127 TABLE 62 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2023–2028 (USD MILLION) 127 11.2 TOPLIGHTING 128 11.2.1 GROWING ADOPTION OF GROW LIGHT SOLUTIONS IN GREENHOUSE AGRICULTURE TO FAVOR MARKET GROWTH 128 TABLE 63 TOPLIGHTING GROW LIGHTS MARKET, BY REGION, 2019–2022 (USD MILLION) 128 TABLE 64 TOPLIGHTING GROW LIGHTS MARKET, BY REGION, 2023–2028 (USD MILLION) 129 11.3 INTERLIGHTING 129 11.3.1 ABILITY OF INTERLIGHTING TO PROVIDE LIGHT BETWEEN PLANTS WITHOUT UNWANTED HEAT GENERATION TO BOOST DEMAND 129 TABLE 65 INTERLIGHTING GROW LIGHTS MARKET, BY REGION, 2019–2022 (USD MILLION) 129 TABLE 66 INTERLIGHTING GROW LIGHTS MARKET, BY REGION, 2023–2028 (USD MILLION) 130 12 GROW LIGHTS MARKET, BY LIGHT SOURCE 131 12.1 INTRODUCTION 131 12.2 LIGHT-EMITTING DIODES (LED) 131 12.2.1 GROWING ADOPTION OF LED LIGHTS IN INDOOR FARMING DUE TO LONG LIFESPAN, SPECTRUM ADJUSTABILITY, AND ENERGY EFFICIENCY TO BOOST MARKET 131 TABLE 67 COMPARISON OF DIFFERENT LIGHT SOURCES 132 12.3 FLUORESCENT LIGHTS 133 12.3.1 T5 FLUORESCENT LIGHTS 133 12.3.1.1 Growing health concerns to propel demand for fluorescent lights for indoor gardening 133 12.3.2 COMPACT FLUORESCENT LAMPS (CFLS) 134 12.3.2.1 Rising use of CFLs to grow herbs and plants in small spaces to drive growth 134 12.4 HIGH-INTENSITY DISCHARGE (HID) LIGHTS 134 12.4.1 HIGH-PRESSURE SODIUM (HPS) LAMPS 135 12.4.1.1 Ability to ensure uniform distribution of light across crops to drive demand for HPS lamps 135 12.4.2 METAL-HALIDE (MH) LAMPS 135 12.4.2.1 Benefits during initial vegetative stage of plant growth to boost adoption of metal-halide lamps 135 13 GROW LIGHTS MARKET, BY SALES CHANNEL 136 13.1 INTRODUCTION 137 FIGURE 45 DIRECT SALES CHANNELS TO REGISTER HIGHEST GROWTH RATE DURING FORECAST PERIOD 137 TABLE 68 GROW LIGHTS MARKET, BY SALES CHANNEL, 2019–2022 (USD MILLION) 137 TABLE 69 GROW LIGHTS MARKET, BY SALES CHANNEL, 2023–2028 (USD MILLION) 137 13.2 DISTRIBUTION CHANNELS 138 13.2.1 RISING DEMAND FOR AFTER-SALES SERVICES TO DRIVE MARKET FOR DISTRIBUTION CHANNELS 138 13.3 E-COMMERCE CHANNELS 138 13.3.1 GROWING PREFERENCE FOR THIRD-PARTY E-COMMERCE PLATFORMS BY SMALL GROWERS/HOME-BASED GROWERS TO BOOST MARKET 138 13.4 DIRECT SALES CHANNELS 139 13.4.1 GROWING CONCERNS REGARDING COUNTERFEIT PRODUCTS TO BOOST SALES OF GROW LIGHTS THROUGH DIRECT SALES CHANNELS 139 14 GROW LIGHTS MARKET, BY APPLICATION 140 14.1 INTRODUCTION 141 FIGURE 46 GROW LIGHTS MARKET, BY APPLICATION 141 FIGURE 47 VERTICAL FARMING TO CAPTURE LARGEST SHARE OF GROW LIGHTS MARKET DURING FORECAST PERIOD 142 TABLE 70 GROW LIGHTS MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 142 TABLE 71 GROW LIGHTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 142 14.2 GREENHOUSES 143 14.2.1 ABILITY OF GROW LIGHTS TO ACHIEVE HIGHER YIELDS IN GREENHOUSES TO DRIVE MARKET GROWTH 143 FIGURE 48 EUROPE TO CAPTURE LARGEST SHARE OF GROW LIGHTS MARKET FOR GREENHOUSES IN 2028 144 TABLE 72 GROW LIGHTS MARKET FOR GREENHOUSES, BY REGION, 2019–2022 (USD MILLION) 144 TABLE 73 GROW LIGHTS MARKET FOR GREENHOUSES, BY REGION, 2023–2028 (USD MILLION) 145 TABLE 74 GROW LIGHTS MARKET FOR GREENHOUSES, BY WATTAGE, 2019–2022 (USD MILLION) 145 TABLE 75 GROW LIGHTS MARKET FOR GREENHOUSES, BY WATTAGE, 2023–2028 (USD MILLION) 145 14.3 VERTICAL FARMING 146 14.3.1 OPTIMUM USE OF VERTICAL SPACE AND BALANCED ENERGY UTILIZATION TO CREATE DEMAND FOR GROW LIGHTS IN VERTICAL FARMING 146 FIGURE 49 >300-WATT GROW LIGHTS TO REGISTER LARGEST SHARE IN GROW LIGHTS MARKET FOR VERTICAL FARMS IN 2028 147 TABLE 76 GROW LIGHTS MARKET FOR VERTICAL FARMING, BY WATTAGE, 2019–2022 (USD MILLION) 147 TABLE 77 GROW LIGHTS MARKET FOR VERTICAL FARMING, BY WATTAGE, 2023–2028 (USD MILLION) 147 TABLE 78 GROW LIGHTS MARKET FOR VERTICAL FARMING, BY REGION, 2019–2022 (USD MILLION) 148 TABLE 79 GROW LIGHTS MARKET FOR VERTICAL FARMING, BY REGION, 2023–2028 (USD MILLION) 148 14.4 INDOOR FARMING 148 14.4.1 INCREASED REQUIREMENT FOR FOOD TO ACCELERATE DEMAND FOR GROW LIGHTS IN INDOOR FARMING 148 TABLE 80 GROW LIGHTS MARKET FOR INDOOR FARMING, BY WATTAGE, 2019–2022 (USD MILLION) 149 TABLE 81 GROW LIGHTS MARKET FOR INDOOR FARMING, BY WATTAGE, 2023–2028 (USD MILLION) 149 TABLE 82 GROW LIGHTS MARKET FOR INDOOR FARMING, BY REGION, 2019–2022 (USD MILLION) 149 TABLE 83 GROW LIGHTS MARKET FOR INDOOR FARMING, BY REGION, 2023–2028 (USD MILLION) 149 14.5 OTHER APPLICATIONS 150 TABLE 84 GROW LIGHTS MARKET FOR OTHER APPLICATIONS, BY WATTAGE, 2019–2022 (USD MILLION) 150 TABLE 85 GROW LIGHTS MARKET FOR OTHER APPLICATIONS, BY WATTAGE, 2023–2028 (USD MILLION) 151 TABLE 86 GROW LIGHTS MARKET FOR OTHER APPLICATIONS, BY REGION, 2019–2022 (USD MILLION) 151 TABLE 87 GROW LIGHTS MARKET FOR OTHER APPLICATIONS, BY REGION, 2023–2028 (USD MILLION) 151 15 GROW LIGHTS MARKET, BY REGION 152 15.1 INTRODUCTION 153 FIGURE 50 EUROPE TO HOLD LARGEST SHARE OF GROW LIGHTS MARKET DURING FORECAST PERIOD 153 TABLE 88 GROW LIGHTS MARKET, BY REGION, 2019–2022 (USD MILLION) 153 TABLE 89 GROW LIGHTS MARKET, BY REGION, 2023–2028 (USD MILLION) 154 15.2 NORTH AMERICA 154 FIGURE 51 NORTH AMERICA: SNAPSHOT OF GROW LIGHTS MARKET 155 TABLE 90 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 155 TABLE 91 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 156 TABLE 92 NORTH AMERICA: GROW LIGHTS MARKET, BY OFFERING, 2019–2022 (USD MILLION) 156 TABLE 93 NORTH AMERICA: GROW LIGHTS MARKET, BY OFFERING, 2023–2028 (USD MILLION) 156 TABLE 94 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 156 TABLE 95 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 157 TABLE 96 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2019–2022 (USD MILLION) 157 TABLE 97 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2023–2028 (USD MILLION) 157 TABLE 98 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2019–2022 (USD MILLION) 157 TABLE 99 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2023–2028 (USD MILLION) 158 TABLE 100 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2019–2022 (USD MILLION) 158 TABLE 101 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2023–2028 (USD MILLION) 158 15.2.1 US 159 15.2.1.1 Significant presence of major manufacturers to drive market growth in US 159 15.2.2 CANADA 159 15.2.2.1 Legalization of cannabis to drive demand for grow lights in Canada 159 15.2.3 MEXICO 160 15.2.3.1 Extensive use of grow lights in tomato cultivation to accelerate market growth 160 15.3 EUROPE 161 FIGURE 52 EUROPE: SNAPSHOT OF GROW LIGHTS MARKET 161 TABLE 102 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 162 TABLE 103 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 162 TABLE 104 EUROPE: GROW LIGHTS MARKET, BY OFFERING, 2019–2022 (USD MILLION) 162 TABLE 105 EUROPE: GROW LIGHTS MARKET, BY OFFERING, 2023–2028 (USD MILLION) 162 FIGURE 53 GREENHOUSE APPLICATIONS IN EUROPE TO OCCUPY LARGEST MARKET SHARE IN 2028 163 TABLE 106 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 163 TABLE 107 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 163 TABLE 108 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2019–2022 (USD MILLION) 164 TABLE 109 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2023–2028 (USD MILLION) 164 TABLE 110 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2019–2022 (USD MILLION) 164 TABLE 111 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2023–2028 (USD MILLION) 164 TABLE 112 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2019–2022 (USD MILLION) 165 TABLE 113 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2023–2028 (USD MILLION) 165 15.3.1 UK 165 15.3.1.1 Large-scale indoor farming and vertical farming practices in UK to boost demand for grow lights 165 15.3.2 GERMANY 166 15.3.2.1 High adoption of grow lights in commercial greenhouses to fuel growth 166 15.3.3 NETHERLANDS 166 15.3.3.1 Robust agriculture industry and significant presence of key market players to augment growth 166 15.3.4 SCANDINAVIA 167 15.3.4.1 Rapid adoption of grow lights in indoor farming and greenhouse applications to stimulate market growth 167 15.3.5 REST OF EUROPE 168 15.4 ASIA PACIFIC 169 FIGURE 54 ASIA PACIFIC: SNAPSHOT OF GROW LIGHTS MARKET 169 FIGURE 55 SOUTHEAST ASIA TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028 170 TABLE 114 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 170 TABLE 115 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 170 TABLE 116 ASIA PACIFIC: GROW LIGHTS MARKET, BY OFFERING, 2019–2022 (USD MILLION) 171 TABLE 117 ASIA PACIFIC: GROW LIGHTS MARKET, BY OFFERING, 2023–2028 (USD MILLION) 171 TABLE 118 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 171 TABLE 119 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 171 TABLE 120 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2019–2022 (USD MILLION) 172 TABLE 121 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2023–2028 (USD MILLION) 172 TABLE 122 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2019–2022 (USD MILLION) 172 TABLE 123 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2023–2028 (USD MILLION) 172 TABLE 124 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2019–2022 (USD MILLION) 173 TABLE 125 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2023–2028 (USD MILLION) 173 15.4.1 CHINA 173 15.4.1.1 Robust presence of leading LED manufacturers to promote market growth in China 173 15.4.2 JAPAN 174 15.4.2.1 Considerable shortage of arable land in Japan to boost demand for grow lights 174 15.4.3 SOUTHEAST ASIA 174 15.4.3.1 High demand for fresh horticulture produce to fuel market growth 174 15.4.4 AUSTRALIA 175 15.4.4.1 Limited rainfall to fuel adoption of grow lights for indoor farming in Australia 175 15.4.5 REST OF ASIA PACIFIC 176 15.5 REST OF THE WORLD 177 TABLE 126 REST OF THE WORLD: GROW LIGHTS MARKET, BY REGION, 2019–2022 (USD MILLION) 177 TABLE 127 REST OF THE WORLD: GROW LIGHTS MARKET, BY REGION, 2023–2028 (USD MILLION) 177 TABLE 128 REST OF THE WORLD: GROW LIGHTS MARKET, BY OFFERING, 2019–2022 (USD MILLION) 177 TABLE 129 REST OF THE WORLD: GROW LIGHTS MARKET, BY OFFERING, 2023–2028 (USD MILLION) 177 TABLE 130 REST OF THE WORLD: GROW LIGHTS MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 178 TABLE 131 REST OF THE WORLD: GROW LIGHTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 178 FIGURE 56 FRUITS & VEGETABLES SEGMENT TO OCCUPY LARGEST MARKET SHARE IN 2028 178 TABLE 132 REST OF THE WORLD: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2019–2022 (USD MILLION) 179 TABLE 133 REST OF THE WORLD: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2023–2028 (USD MILLION) 179 TABLE 134 REST OF THE WORLD: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2019–2022 (USD MILLION) 179 TABLE 135 REST OF THE WORLD: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2023–2028 (USD MILLION) 179 TABLE 136 REST OF THE WORLD: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2019–2022 (USD MILLION) 180 TABLE 137 REST OF THE WORLD: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2023–2028 (USD MILLION) 180 15.5.1 MIDDLE EAST 180 15.5.1.1 Resource scarcity to propel adoption of grow lights in vertical farms in Middle East 180 15.5.2 AFRICA 181 15.5.2.1 Harsh weather conditions to promote implementation of grow lights 181 15.5.3 SOUTH AMERICA 181 15.5.3.1 Vertical coffee farming in Brazil to provide lucrative opportunities for grow lights market 181 16 COMPETITIVE LANDSCAPE 182 16.1 OVERVIEW 182 16.2 MARKET EVALUATION FRAMEWORK 182 TABLE 138 OVERVIEW OF STRATEGIES ADOPTED BY KEY SOLUTION PROVIDERS 182 16.2.1 PRODUCT PORTFOLIO 183 16.2.2 REGIONAL FOCUS 183 16.2.3 MANUFACTURING FOOTPRINT 183 16.2.4 ORGANIC/INORGANIC STRATEGIES 183 16.3 MARKET SHARE ANALYSIS, 2022 184 TABLE 139 GROW LIGHTS MARKET: MARKET SHARE ANALYSIS (2022) 184 16.4 FIVE-YEAR COMPANY REVENUE ANALYSIS 185 FIGURE 57 FIVE-YEAR REVENUE ANALYSIS OF TOP 2 PLAYERS IN GROW LIGHTS MARKET, 2018–2022 185 16.5 COMPANY EVALUATION QUADRANT 186 16.5.1 STARS 186 16.5.2 EMERGING LEADERS 186 16.5.3 PERVASIVE PLAYERS 186 16.5.4 PARTICIPANTS 186 FIGURE 58 GROW LIGHTS MARKET: COMPANY EVALUATION QUADRANT, 2022 187 16.6 STARTUP/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 188 TABLE 140 GROW LIGHTS MARKET: DETAILED LIST OF KEY STARTUPS/SMES 188 TABLE 141 STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) IN GROW LIGHTS MARKET 189 TABLE 142 GROW LIGHTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (APPLICATION FOOTPRINT) 191 TABLE 143 GROW LIGHTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (OFFERING FOOTPRINT) 191 TABLE 144 GROW LIGHTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (REGION FOOTPRINT) 192 16.6.1 PROGRESSIVE COMPANIES 192 16.6.2 RESPONSIVE COMPANIES 192 16.6.3 DYNAMIC COMPANIES 192 16.6.4 STARTING BLOCKS 192 FIGURE 59 GROW LIGHTS MARKET: STARTUP/SME EVALUATION MATRIX, 2022 193 16.7 COMPANY FOOTPRINT 194 TABLE 145 COMPANY FOOTPRINT 194 TABLE 146 COMPANY-WISE OFFERING FOOTPRINT 195 TABLE 147 COMPANY-WISE APPLICATION FOOTPRINT 196 TABLE 148 COMPANY-WISE REGIONAL FOOTPRINT 197 16.8 COMPETITIVE SITUATION AND TRENDS 198 16.8.1 PRODUCT LAUNCHES 198 TABLE 149 PRODUCT LAUNCHES, JANUARY 2020–JANUARY 2023 198 16.8.2 DEALS 200 TABLE 150 DEALS, JANUARY 2020–JANUARY 2023 200 17 COMPANY PROFILES 204 17.1 KEY PLAYERS 204 (Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)* 17.1.1 SIGNIFY HOLDING 204 TABLE 151 SIGNIFY HOLDING: COMPANY SNAPSHOT 204 FIGURE 60 SIGNIFY HOLDING: COMPANY SNAPSHOT (2022) 205 17.1.2 GAVITA INTERNATIONAL B.V. (HAWTHORNE) 210 TABLE 152 GAVITA INTERNATIONAL B.V.: COMPANY SNAPSHOT 210 17.1.3 HELIOSPECTRA AB 213 TABLE 153 HELIOSPECTRA AB: COMPANY SNAPSHOT 213 FIGURE 61 HELIOSPECTRA AB: COMPANY SNAPSHOT (2022) 213 17.1.4 AMS-OSRAM AG 216 TABLE 154 AMS-OSRAM AG: COMPANY SNAPSHOT 216 FIGURE 62 AMS-OSRAM AG: COMPANY SNAPSHOT (2022) 217 17.1.5 CALIFORNIA LIGHTWORKS 221 TABLE 155 CALIFORNIA LIGHTWORKS: COMPANY SNAPSHOT 221 17.1.6 HORTILUX SCHRÉDER (DOOL INDUSTRIES) 224 TABLE 156 HORTILUX SCHRÉDER: COMPANY SNAPSHOT 224 17.1.7 VALOYA OY 226 TABLE 157 VALOYA OY: COMPANY SNAPSHOT 226 17.1.8 ILUMINAR LIGHTING 228 TABLE 158 ILUMINAR LIGHTING: COMPANY SNAPSHOT 228 17.1.9 BRIDGELUX, INC. 230 TABLE 159 BRIDGELUX, INC.: COMPANY SNAPSHOT 230 17.1.10 EYE HORTILUX (EYE LIGHTING INTERNATIONAL) 232 TABLE 160 EYE HORTILUX: COMPANY SNAPSHOT 232 *Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies. 17.2 OTHER PLAYERS 234 17.2.1 CURRENT 234 TABLE 161 CURRENT: COMPANY SNAPSHOT 234 17.2.2 PARSOURCE 235 TABLE 162 PARSOURCE: COMPANY SNAPSHOT 235 17.2.3 GE LIGHTING 236 TABLE 163 GE LIGHTING: COMPANY SNAPSHOT 236 17.2.4 HUBBELL 237 TABLE 164 HUBBELL: COMPANY SNAPSHOT 237 17.2.5 AGROLUX 238 TABLE 165 AGROLUX: COMPANY SNAPSHOT 238 17.2.6 ECONOLUX 239 TABLE 166 ECONOLUX: COMPANY SNAPSHOT 239 17.2.7 OREON 240 TABLE 167 OREON: COMPANY SNAPSHOT 240 17.2.8 GLACIALLIGHT INC. 241 TABLE 168 GLACIALLIGHT INC.: COMPANY SNAPSHOT 241 17.2.9 FOXCONN (HON HAI PRECISION INDUSTRY CO., LTD.) 242 TABLE 169 FOXCONN: COMPANY SNAPSHOT 242 17.2.10 VIVIDGRO 243 TABLE 170 VIVIDGRO: COMPANY SNAPSHOT 243 17.2.11 HYPERION GROW LIGHTS 244 TABLE 171 HYPERION GROW LIGHTS: COMPANY SNAPSHOT 244 17.2.12 NICHIA CORPORATION 245 TABLE 172 NICHIA CORPORATION: COMPANY SNAPSHOT 245 17.2.13 EVERLIGHT ELECTRONICS CO., LTD. 246 TABLE 173 EVERLIGHT ELECTRONICS CO., LTD.: COMPANY SNAPSHOT 246 17.2.14 SANANBIO 247 TABLE 174 SANANBIO: COMPANY SNAPSHOT 247 17.2.15 LEDESTAR OPTO-ELECTRONICS TECH. CO., LTD. 248 TABLE 175 LEDESTAR OPTO-ELECTRONICS TECH. CO., LTD.: COMPANY SNAPSHOT 248 18 APPENDIX 249 18.1 DISCUSSION GUIDE 249 18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 253 18.3 CUSTOMIZATION OPTIONS 255 18.4 RELATED REPORTS 255 18.5 AUTHOR DETAILS 256