How big is the Grow Lights Market?

The Grow Lights Market size is expected to reach USD 4.74 billion in 2024 and grow at a CAGR of 17.40% to reach USD 10.58 billion by 2029. Read More

What is the current Grow Lights Market size?

In 2024, the Grow Lights Market size is expected to reach USD 4.74 billion. Read More

Who are the key players in Grow Lights Market?

OSRAM Licht AG, Heliospectra AB, Savant Systems Inc., Signify and Lemnis Oreon BV are the major companies operating in the Grow Lights Market. Read More

Which is the fastest growing region in Grow Lights Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Grow Lights Market?

In 2024, the Europe accounts for the largest market share in Grow Lights Market. Read More

What years does this Grow Lights Market cover, and what was the market size in 2023?

In 2023, the Grow Lights Market size was estimated at USD 3.92 billion. The report covers the Grow Lights Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Grow Lights Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Grow Light Market - Size, Share & Forecast

Grow Light Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Grow Light Market Analysis and It is Segmented by Light Source (High-Intensity Discharge (HID) Lights, Light Emitting Diodes, Fluorescent Lights, and Other Light Sources), by Installation Type (New Installations, and Retrofit Installations), by Application (Indoor Farming, Vertical Farming, Commercial Greenhouse, and Others Applications), and by Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

Grow Light Industry Overview

With smart and connected systems advancements, the grow lights market is witnessing technological innovations by major players like Signify and Everlight. With more investments toward large-scale deployment of grow lights, companies seek to merge, partner, or acquire technical capabilities. Some of the key market players are OSRAM Licht AG, Heliospectra AB, Savant Systems Inc., Signify, and Lemnis Oreon BV.

In November 2022, Signify announced the expansion of its Smart Wi-Fi lighting field in India with the launch of two unique portable smart lamps, Philips Smart LED Squire and Philips Smart LED Hero. The Philips Smart LED Squire and Philips Smart LED Hero have a round-shaped design and plug-and-play operation, which makes them easy to use and carry anywhere in the home.