According to the latest report, the global revenue from lighting fixtures for horticultural applications is expected to reach US$3.8 billion in 2027.

The global market value of LED horticultural lighting will reach 3.8 billion US dollars in 2027

A report released by Navigant Research, a US market research organization, shows that LED has improved efficiency, increased crop yields, and achieved higher profits for customers. In addition, major lighting manufacturers are providing tunable LED solutions to support the lighting needs of various stages of the plant growth cycle. This increases the adjustability of light, allowing farmers to adjust the light output to find the ideal light ratio, so as to maximize yield and plant various crops.

Courtney Marshall, a research analyst at Navigant Research, said: “The growth of the horticultural LED application market has contributed to the decline in lighting installation costs and promoted the further adoption of LED technology. Suppliers continue to improve product competitiveness through high-quality research, and this More affordable prices and higher adoption rates have created a market environment characterized by innovation and experimentation."

Navigant pointed out that there is no ready-made "one size fits all" method in the industry, which provides opportunities for startups, major companies and universities to collaborate and provide customers with effective and scalable garden lighting. solution.

In addition, developing countries in parts of the Asia-Pacific region, especially those suffering from pollution, water shortages, and food security issues, all hope to use better technologies. The growing indoor agricultural facilities around the world have promoted the development of the indoor agricultural market, which in turn promoted the continuous popularization of LED horticultural lighting.