Global Agricultural LED Market Size, Statistics and Facts, By Type, Deployment Model, Growth Analysis, Global Demand, Organization Size and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027, the global market was valued at USD 13.78 billion in 2019-20, and is expected to reach USD xx.xx billion by 2027, registering a CAGR of 9.78% from 2020 to 2027. The base year considered for conducting the study is 2019-20, and the forecast has been provided for the period from 2020 to 2027. Agricultural LED technology helps in extending the hours of the natural daylight, which further increases the health, growth rate, and yield of the plants. LED lighting and plasma lighting can extend the life-cycle of crops throughout a season. Growing awareness regarding the importance of alternative farming, owing to the less availability of fertile agricultural land and increasing population, are the key factors anticipated to spur the industry demand. Indoor farming can produce crops throughout the year, thus leading to increased productivity. Furthermore, indoor farming can protect crops from extreme weather conditions through the usage of techniques such as the controlled environment agriculture technology, where the facilities use artificial environmental control, control of light, and fertigation.
Main players covered by the study on the global Agricultural LED market are: Philips, Osram, General Electric, Easy Agricultural, Illumitex, Fionia Lighting, Lumigrow, Kind LED, Grow Lights, California LightWorks, Spectrum King Grow Lights, Valoya, Weshine, Apollo Horticulture, Kessil Cidly, Heliospectra AB, LEDHYDROPONICS, Ohmax Optoelectronic, Zhicheng, Noribachi, Greengage Lighting Ltd, and Beba-Lighting UK Limited.
Summarization of Report
Foremost industry experts and key analysts present in several regions have validated the information and data provided in the Agricultural LED market report. This report is inclusive of a comprehensive analysis of revenues, forecasted data, and key developments. The report gives an insightful analysis of predicted data and major market developments.
The market report provides information on the critical tactics relied on by businesses to gain a thorough knowledge of the Agricultural LED market. The potential of this industry has been evaluated with a market analysis on investment climate, capital funding, and market-related drivers and constraints. Further, an in-depth analysis on various regions’ growth prospects and business conditions has been conducted to help clients find out the markets that will provide lucrative growth opportunities.
This market report also identifies the future growth areas, market lead, growth prospects, challenges, and entry restrictions, accompanied by an in-depth market summary. Bar graphs, pie charts, product estimates, brief pointers, and market data analysis have been included to give customers an easy understanding about various key aspects of the Agricultural LED market.
The report also includes raw materials and client survey, along with an analysis of marketing channels, equipment suppliers’ relevant data, and business figures of unfinished goods and material suppliers and clients, for a proper value chain analysis.
The aim of the report is to offer a growth map of the Agricultural LED market, which is essential for businesses to plan relevant strategies to achieve their business aims and goals. A number of qualitative and quantitative tools are being used in growth mapping. For instance, SWOT analysis has been conducted to determine strength, weaknesses, opportunities, and threats, while the PESTEL analysis is done to determine the macroeconomic factors like political, economic, social, technological and legal factors, which are affecting the business climate in the ICT industry. PORTER’S five forces model, on the other hand, will help evaluate the threat of substitution, threat of new market entrants, and the bargaining power of buyers and suppliers.
The driving factors for the Agricultural LED market include technological advancements amid rapid expansion in the ICT industry. The regional analysis includes an analysis of more than 20 countries in different regions. It is comprised of both country and regional-level analysis of the market.
The major regions covered in the report are North America, Europe, Asia pacific (APAC), and Middle East & Africa. The Agricultural LED market is analyzed thoroughly in these regions with market opportunities, trends, and market restraints.
Region-wise, North America is a dominant market for the ICT industry, as the region has the presence of major and acclaimed players in the ICT domain. Furthermore, governments and private players in North America are backing sales of IT products with strong focus and support in the right direction.
In addition, North America is the prominent region for technological advancements and industrial mechanization, which are projected to generate impressive growth opportunities in the region for the ICT industry. In fact, North America is at the center for the global Agricultural LED market with a multitude of companies trying to get a foothold in this regional market.
Asia pacific has been displaying significant growth in the Agricultural LED market, with rapidly rising population and massive urbanization projects of big undertakings. Mobile internet and cloud computing have made a deep inroads into China, India and Japan, which will act as a growth driver for the Asia Pacific market.
Though Middle East and Africa are lagging behind in the ICT domain, Latin America, with a number of SMEs, will experience healthy industrial growth. The European Agricultural LED market will, however, display lethargic growth for being a saturated market with stable industries.
The report provides the profiles of key market players, their revenues, growth strategies, R&D expenditures, and product portfolios, to give a deeper insights into the competitive landscape prevailing in the ICT industry. Latest market trends and SWOT analysis are also included to give an idea about the strengths and weaknesses of the major players. The report covers the following key players operating in the Agricultural LED market are.. Philips, Osram, General Electric, Easy Agricultural, Illumitex, Fionia Lighting, Lumigrow, Kind LED, Grow Lights, California LightWorks, Spectrum King Grow Lights, Valoya, Weshine, Apollo Horticulture, Kessil Cidly, Heliospectra AB, LEDHYDROPONICS, Ohmax Optoelectronic, Zhicheng, Noribachi, Greengage Lighting Ltd, and Beba-Lighting UK Limited.
The report analysis is based on both primary and secondary data sources. Primary sources, such as interviews with various industry analysts, suppliers and distributors, are used to gather key market data, along with secondary sources such as government websites and annual report of the companies and other relevant documents. The Agricultural LED market report has been prepared by using the top-down approach to evaluate figures for each market segment. These figures are then counter-validated with the bottom-up approach to provide accurate market data.
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The Report Answers Questions Such As:
1. What is the global Agricultural LED market's competitive position?
2. What is the size of the Agricultural LED market globally?
3. What are the key factors driving the growth in the global Agricultural LED market during the forecast period?
4. What are the opportunities in the global Agricultural LED market?
5. Which are the main product fields to be invested in over the projected period in the global Agricultural LED market?
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