According to the latest analysis by Emergen Research, the global horticulture lighting market size is likely to reach USD 11.27 Billion by 2028, while also recording a steady CAGR throughout this period of growth. The active participation of the nations in promoting the adoption of Controlled Environment Agriculture (CEA) practices — that allow cultivating plants indoors — is seen as the major reason for this upwards surge in the market size.
The trend of growing plants indoors through non-conventional practices is considered a major reason for this revenue growth in the horticulture lighting market. It is observed that CEA has far more benefits than outdoor farming, with one being its ability to create quintessential growing conditions for the plants throughout their growth period.
The experts in horticulture farming are increasingly turning to LED systems to build favorable conditions for plant growth. This has resulted in a higher yield in a shorter stretch of time and has also led to an improvement in the quality and taste of the product. Moreover, LEDs’ easy integration into digitally programmable technology — that allows constant monitoring of the light levels in the greenhouse — has increased its demand in horticulture. This will further the growth of the horticulture lights market in the coming years.
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