The global LED grow light and hydroponic greenhouse automation market was valued US$ 681.3 Mn in 2021 and poised to grow at prominent growth rate over 2022-2028. The major factors driving the growth of market include due to increase in adoption of indoor farming in developed and developing countries, rise in demand for quality and organic food products, government initiations to raise the awareness about smart agriculture across the farmers, increase in the demand for LED grow lights over traditional LED lights, and development of technologically advanced LED grow lights are anticipated to surge the market over the forecast timeframe. However, high cost for the installation and maintenance and lack of awareness about the hydroponic greenhouse farming in underdeveloped countries. In addition, the report includes crop demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global LED grow light and hydroponic greenhouse automation market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global report include suppliers, manufacturers, marketers, policy makers, and agriculture service providers engaged in global turf & ornamental crop protection products.
Fastest Growing Market
Increase in the demand for hydroponic greenhouse automation due to wide range of advantages is a major factor surge the growth of market over the forecast years. The major advantages with the technique include reduces the labor force and decrease the errors in feed formula mixing, limiting the water and fertilizer usage, effective use of nutrients, and better growth rate due to less weeds. Moreover, rise in demand for organic food farming also boost the growth of market over the forecast timeframe
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.