Market for Horticultural LEDs blooming
At this stage, the Technavio report says, the small LED grow lights vendors are still in the process of “increasing the awareness about the usage of lighting systems in the horticulture sector”, engaging the help of local horticulturists in promoting and disseminating knowledge on the application of LED grow lights in horticulture – especially underscoring LED lighting’s energy efficiency and remarkably long life-expectancy – traits that are sure to sway those who own commercial greenhouses, indoor/vertical farms, and horticultural researchers.
However, players are moving into position to ultimately be poised to dominate even the global horticultural LED market. In the report, Technavio has named the top ten vendors in the horticultural LED lighting sector who are most likely to lead the market up to 2020:
Of the ten, Cree and Osram Sylvania are the biggest names – not yet the biggest players in the grow LEDs sector, but not for long.
The Technavio report also states that the Americas will be a major source of demand for LED grow lights, followed by the Asia-Pacific region, and then by Europe, the Middle East, and Africa. The growing acceptance of marijuana and the demand for nutritious fruits and vegetables are said to be fueling the demand for LED grow lights in the Americas, particularly the United States.
Currently, the U.S. grow LED lights market is estimated to be worth US $575 million (comprising 32% of the LED grow light market), according to LEDinside magazine. This can still go up to
Here’s hoping that the LED