An increasing awareness about the concept of sustainability is witnessed across the globe. Owing to this awareness, increasing initiatives are correspondingly being taken by various organizations, researchers, government etc. globally. One such sustainable technological advancement witnessed in the agriculture industry is the introduction of horticulture lighting market.
Horticulture lighting, by tuning the light according to the required need and by utilizing the unique properties of LED lighting, assists in boosting yields and maintaining plant health, throughout the year. By offering a varied ratio between deep blue, hyper red and far red of LED lighting, a horticulture lighting arrangement is established. Some of the key applications of horticulture lighting include controlled urban farming, Supplemental lighting and cultivation without natural daylight, multilayer cultivation, etc.
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Horticulture lighting market is a comparatively new concept, and thus, has witnessed a limited traction since the past four years, in terms of value. However, owing to the advantages associated with horticulture lighting system, a continuous demand for the same has been witnessed since its inception. The market for horticulture lighting is further expected to witness a significantly high growth rate during the forecast period as well.
This, as a result, is expected to be the primary driving factor for the global horticulture lighting market. In addition to this, the advanced features and advantages associated with the implementation of horticulture lighting market is also expected to be a factor impelling the demand of horticulture lighting system.
However, due to lack of awareness about the concept of horticulture lighting market amongst various developing and under developed countries acts as a restraining factor for the global horticulture lighting market.
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Horticulture Lighting Market: Segmentation
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Among these regions, North America horticulture lighting market is expected to dominate the global horticulture lighting market during the forecast period, owing to high awareness and demand for horticulture lighting systems, in the region. Asia Pacific (including Japan and China) horticulture lighting market and Europe horticulture lighting market are expected to follow North America horticulture lighting market in the global horticulture lighting market.
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China horticulture lighting market is, however, expected to exhibit highest growth rate during the forecast period. Besides this, Latin America horticulture lighting market and MEA horticulture lighting market are also expected to witness a considerable growth rate during the forecast period, in the global horticulture lighting market.
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