Grow Light Market Size Worth $14.31 Billion By 2030 | CAGR: 15.0%
Grow Light Industry Overview The global grow light market size is anticipated to reach USD 14.31 billion by 2030, growing at a CAGR of 15.0%, according to a new report by Grand View Research, Inc. The increased use of vertical farming and indoor cultivation, for producing crops, is likely to spur the market demand over the forecast period. Grow light helps in extending the hours of the natural daylight which further increases the health, growth rate, and yield of the plants. Artificial lighting, such as high-pressure sodium lighting, LED lighting and plasma lighting can extend the availability of crops throughout the season. Grow Light Market Segmentation Grand View Research has segmented the global grow light market based on application, product, system, technology, installation, spectrum, and region: Based on the Product Insights, the market is segmented into < 300 Watt, > 300 Watt. The industry has been classified into < 300 Watt and > ...