Light-emitting Diode (LED) Grow Lights Market by Application and Geography - Forecast and Analysis 2020-2024

Light-emitting Diode (LED) Grow Lights Market by Application and Geography - Forecast and Analysis 2020-2024

Global Light-emitting Diode (LED) Grow Lights Market: About this market

Technavio’s light-emitting diode (LED) grow lights market analysis considers sales from commercial greenhouses, vertical farming, and other applications. Our study also finds the sales of light-emitting diode (LED) grow lights in APAC, Europe, MEA, North America, and South America. In 2018, the commercial greenhouses segment had a significant market share. However, LED grow lights market growth in the greenhouse segment will be slower than the growth of the market in the vertical farming segment. Factors such as high demand for LED grow lights from greenhouse operators will play a significant role in the vertical farming segment to maintain its market position. Also, our global light-emitting diode (LED) grow lights market report looks at factors such as growth in indoor farming, need for energy-efficient and long-lasting grow light technology, and new product developments. However, high installation and setup costs, harmful effects of LED grow lights, and weight of LED grow lights may hamper the growth of the light-emitting diode (LED) grow lights industry over the forecast period.

Global Light-emitting Diode (LED) Grow Lights Market: Overview

Growth in indoor farming

There has been a growing scarcity of arable lands with increasing industrial development and urbanization. The need for indoor farming has increased due to the growing demand for food. The establishment of various facilities such as greenhouses, storage containers, refurbished warehouses, and other structures has eased the practice of indoor farming. There are various ways to produce crops indoors, including vertical farming, aquaponics, and hydroponics. This has led to high productivity in small areas. For instance, Signify NV launched its new Philips GreenPower LED toplighting with an optimized light spectrum for cut rose cultivation. This growth in indoor farming will lead to the expansion of the global light-emitting diode (LED) grow lights market at a CAGR of over 25% during the forecast period.

Use of artificial intelligence in LED grow lights

The demand for artificial intelligence in various fields has been growing. Artificial intelligence helps in discovering various environmental factors, which can affect plant growth during indoor farming. Indoor farming needs a controlled environment with the right amount of temperature, humidity, CO2 level, water, and light. AI-enabled LED grow lights are also helping end-users in saving electricity bills. Vendors such as Osram Light are manufacturing AI-enabled LED grow lights that not only regulates light input but also predicts crop diseases. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global light-emitting diode (led) grow lights market during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the global light-emitting diode (LED) grow lights market is highly fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading light-emitting diode (LED) grow lights manufacturers, that include Advanced LED Grow Lights, Cree Inc., General Electric Co., GNUK Ltd., Heliospectra AB, Illumitex Inc., LumiGrow Inc., OSRAM Licht AG, Senmatic AS, and Signify NV.

Also, the light-emitting diode (LED) grow lights market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Vendors: Key offerings
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global electronics market
      • Table Segments of global electronics market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
    • Value chain analysis
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market size
    • Market sizing 2019
      • Table Market size 2019
    • Market outlook
    • Market size and forecast 2019-2024
      • Table Global market: Size and forecast 2019-2024 ($ millions)
      • Table Global market: Year-over-year growth 2020-2024 (%)
  • Five forces analysis
    • Table Five forces analysis 2019
    • Table Five forces analysis 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market segmentation by application
    • Table Application - Market share 2019-2024 (%)
    • Comparison by application
      • Table Comparison by application
    • Commercial greenhouses - Market size and forecast 2019- 2024
      • Table Commercial greenhouses - Market size and forecast 2019-2024 ($ millions)
      • Table Commercial greenhouses - Year-over-year growth 2020-2024 (%)
    • Vertical farming - Market size and forecast 2019-2024
      • Table Vertical farming - Market size and forecast 2019-2024 ($ millions)
      • Table Vertical farming - Year-over-year growth 2020-2024 (%)
    • Others - Market size and forecast 2019-2024
      • Table Others - Market size and forecast 2019-2024 ($ millions)
      • Table Others - Year-over-year growth 2020-2024 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 ($ millions)
      • Table Europe - Year-over-year growth 2020-2024 (%)
    • North America - Market size and forecast 2019-2024
      • Table North America - Market size and forecast 2019-2024 ($ millions)
      • Table North America - Year-over-year growth 2020-2024 (%)
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 ($ millions)
      • Table APAC - Year-over-year growth 2020-2024 (%)
    • South America - Market size and forecast 2019-2024
      • Table South America - Market size and forecast 2019-2024 ($ millions)
      • Table South America - Year-over-year growth 2020-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 ($ millions)
      • Table MEA - Year-over-year growth 2020-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision Framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market Trends
    • Growing strategic alliances with end-users
    • Use of LED grow lights in suppression of plant diseases
    • Use of artificial intelligence in LED grow lights
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Advanced LED Grow Lights
      • Table Advanced LED Grow Lights - Vendor overview
      • Table Advanced LED Grow Lights - Product segments
      • Table Advanced LED Grow Lights - Key offerings
    • Cree Inc.
      • Table Cree Inc. - Vendor overview
      • Table Cree Inc. - Business segments
      • Table Cree Inc. - Organizational developments
      • Table Cree Inc. - Geographic focus
      • Table Cree Inc. - Segment focus
      • Table Cree Inc. - Key offerings
    • General Electric Co.
      • Table General Electric Co. - Vendor overview
      • Table General Electric Co. - Business segments
      • Table General Electric Co. - Organizational developments
      • Table General Electric Co. - Geographic focus
      • Table General Electric Co. - Segment focus
      • Table General Electric Co. - Key offerings
    • GNUK Ltd.
      • Table GNUK Ltd. - Vendor overview
      • Table GNUK Ltd. - Product segments
      • Table GNUK Ltd. - Key offerings
    • Heliospectra AB
      • Table Heliospectra AB - Vendor overview
      • Table Heliospectra AB - Product segments
      • Table Heliospectra AB - Organizational developments
      • Table Heliospectra AB - Key offerings
    • Illumitex Inc.
      • Table Illumitex Inc. - Vendor overview
      • Table Illumitex Inc. - Product segments
      • Table Illumitex Inc. - Organizational developments
      • Table Illumitex Inc. - Key offerings
    • LumiGrow Inc.
      • Table LumiGrow Inc. - Vendor overview
      • Table LumiGrow Inc. - Product segments
      • Table LumiGrow Inc. - Organizational developments
      • Table LumiGrow Inc. - Key offerings
    • OSRAM Licht AG
      • Table OSRAM Licht AG - Vendor overview
      • Table OSRAM Licht AG - Business segments
      • Table OSRAM Licht AG - Organizational developments
      • Table OSRAM Licht AG - Geographic focus
      • Table OSRAM Licht AG - Segment focus
      • Table OSRAM Licht AG - Key offerings
    • Senmatic AS
      • Table Senmatic AS - Vendor overview
      • Table Senmatic AS - Product segments
      • Table Senmatic AS - Organizational developments
      • Table Senmatic AS - Key offerings
    • Signify NV
      • Table Signify NV - Vendor overview
      • Table Signify NV - Business segments
      • Table Signify NV - Organizational developments
      • Table Signify NV - Geographic focus
      • Table Signify NV - Segment focus
      • Table Signify NV - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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