How big is the LED Farming Market?

The LED Farming Market size is expected to reach USD 4.66 billion in 2024 and grow at a CAGR of 12.20% to reach USD 8.28 billion by 2029. Read More

What is the current LED Farming Market size?

In 2024, the LED Farming Market size is expected to reach USD 4.66 billion. Read More

Who are the key players in LED Farming Market?

Koninklijke Philips N.V., Gavita International B.V., General Electric Company, OSRAM Opto Semiconductors GmbH and Heliospectra AB are the major companies operating in the LED Farming Market. Read More

Which is the fastest growing region in LED Farming 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 LED Farming Market?

In 2024, the North America accounts for the largest market share in LED Farming Market. Read More

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

In 2023, the LED Farming Market size was estimated at USD 4.15 billion. The report covers the LED Farming Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the LED Farming Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

LED Farming Market Size & Share Analysis - Industry Research Report

LED Farming Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global LED Farming Market report presents a comprehensive analysis of the market trends, growth, drivers, industry attractiveness, competitiveness, and forecast to 2025. The market is segmented based on Application (Vertical Farming, Indoor Farming, Commercial Greenhouse, Turf & Landscaping, and Other Applications), Wavelength (Blue Wavelength, Red Wavelength, and Far Red Wavelength) and Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals, and Other Crop types). The report also includes a geographical segmentation covering over 16 countries across the world.

LED Farming Industry Overview

The market is highlycompetitive witha few internationally established players as well as several regional players vying for a higher market share in the emerging market for LED lights in farming. The key players in the market include Koninklijke Philips N.V., Gavita International B.V., General Electric Company, OSRAM Opto Semiconductors GmbH, Heliospectra AB, Hortilux Schreder B.V., and Illumitex, among others. Mergers and acquisitions, innovation, diversification of product portfolios, and investments are some of the most adopted strategies of these players for penetrating the evolving market with an all-encompassing Research & Development approach. For instance, Heliospectra launched thenew modular LED lighting series, MITRA,in May 2019, which provides high-intensity light output and electrical efficacy of up to 2.7 µmol/J forcommercial greenhouses, indoor, and vertical farms.In 2018, OSRAM acquired Fluence Bioengineering, a Texas-based leading provider of LED lighting for commercial crop production, in a bid to enhance its outreach in Europe, the Middle East, and Africa regions.