Richmond, Nov. 14, 2023 (GLOBE NEWSWIRE) -- According to a research report "Agriculture lighting Market, by Component (Service, Hardware, Software), Application (Data Security, Secure Enclaves, Pellucidity between Users, Others) Deployment Mode (On-Premise and Cloud-based), Industry Vertical (BFSI, Government & defense, Healthcare, IT & telecommunications, Retail, Manufacturing, Others), and Region.
Global Agriculture lighting Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 11.8 Billion |
| Market size value in 2030 | USD 26.6 Billion |
| CAGR (2023-2030) | 12.3% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Deployment Mode, Component, Application, Industry Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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TOC Covers in Depth & Breath on Agriculture lighting Market
175 - Market Data Tables
66 - List of Figures
230 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Agriculture lighting plays an important role in modern agricultural practices, especially in indoor farming or Controlled Environment Agriculture (CEA) setups. Farm lighting systems use artificial lighting to provide the necessary light spectrum, intensity, and duration for optimal plant growth and development. The Agriculture Lighting Market has witnessed substantial growth and transformation in recent years, driven by technological advancements and a global shift towards sustainable and efficient farming practices. As the world grapples with the challenge of feeding a growing population, agriculture lighting has emerged as a critical component in enhancing crop yields, ensuring year-round cultivation, and promoting the well-being and productivity of livestock. This market encompasses a spectrum of lighting solutions designed to cater to the unique needs of various agricultural applications, ranging from greenhouse cultivation to livestock farming.
Major vendors in the global Agriculture lighting Market - AKVA Group, ams OSRAM AG, California LightWorks, CBM Lighting, Current Lighting Solutions, LLC, DeLaval, Gavita International B.V, HATO Agricultural Lighting, Heliospectra AB, Hubbell Incorporated, Lely, Luminus, Inc., Samsung, Signify Holding, and Sunbird
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Growing Awareness about Sustainable Crop
The agriculture lighting market is experiencing a significant surge, driven by a growing awareness and emphasis on sustainable crop cultivation practices. As the global population continues to expand, there is an increasing demand for food production, prompting the agriculture industry to explore innovative technologies that enhance crop yield and quality. Sustainable agriculture has emerged as a key driver in this scenario, and agriculture lighting plays a pivotal role in supporting environmentally friendly and resource-efficient farming methods. One of the primary factors fueling the demand for sustainable crop cultivation is the escalating concern for environmental conservation. Traditional farming practices often involve significant resource consumption, including water and energy, contributing to environmental degradation. The adoption of sustainable agriculture, facilitated by advanced lighting solutions, addresses these concerns by promoting practices that optimize resource utilization and minimize ecological impact. LED lighting, in particular, has gained prominence for its energy efficiency and ability to provide tailored light spectra for optimal plant growth.
Market Dynamics
Drivers:
- LED Lighting Fixtures Are Widely Used In A Controlled Agricultural Environment
- Growing Awareness About Sustainable Crop
Opportunities:
- Year-round crop production, irrespective of weather conditions
- Increasing Government Initiatives In Various Developed As Well As Developing Countries
Increasing Government Initiatives In Various Developed As Well As Developing Countries
The agriculture lighting market is witnessing a promising opportunity due to the escalating support from government initiatives in both developed and developing countries. Governments worldwide are recognizing the crucial role of advanced agricultural technologies in addressing the challenges of food security, climate change, and sustainable resource management. As a result, there is a notable increase in initiatives aimed at promoting the adoption of modern agricultural practices, with a specific focus on enhancing crop cultivation through innovative technologies like agriculture lighting. In developed countries, where agriculture is often intensive and technologically advanced, governments are investing in research and development programs to promote the integration of smart technologies into farming practices. Subsidies, grants, and incentives are being offered to farmers and agricultural businesses to facilitate the adoption of precision farming methods, including advanced lighting systems. These initiatives aim to improve overall agricultural productivity, reduce environmental impact, and ensure a more resilient and sustainable food supply chain.
The market for Agriculture lighting is dominated by Europe.
Europe is poised to achieve the highest CAGR between 2023 and 2030 within the agriculture lighting market. This projection is attributed to the region's robust economies and thriving industries, translating to enhanced capital investment capabilities. Notably, countries such as the Netherlands, Spain, France, and Italy boast extensive areas dedicated to greenhouse cultivation and a substantial number of livestock facilities for various agricultural activities, including milking and poultry farming. The utilization of LED grow lights in Europe is undergoing a notable shift from serving as a supplementary lighting source to evolving into the primary light source for indoor farming operations. The region's economic strength and technological advancements have propelled the adoption of advanced agricultural practices, contributing to the increasing prominence of LED grow lights. Europe's population has experienced rapid growth, leading to a surge in the demand for fresh produce. Countries in the region, such as those mentioned, have responded by importing frozen fruits and vegetables from Africa and Asia to meet this demand. This burgeoning population, coupled with the need for year-round agricultural production, further propels the adoption of LED grow lights as a pivotal component of modern and efficient farming methods.
The Livestock Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
The application includes Horticulture, Livestock, Aquaculture, and Vertical Farming. The livestock segment asserts its dominance as the leading sector in the agricultural lighting market, primarily driven by the heightened demand for essential products such as milk, meat, eggs, and poultry. This trend is particularly pronounced in European and American countries, where there is a substantial and increasing consumption of meat and eggs. Given the surge in global population coupled with the consistently high consumption rates in these regions, the livestock segment maintained its position as the largest market share holder in 2022. As livestock applications continue to be the dominant force, the agricultural lighting market reflects the significance of lighting technologies in supporting and optimizing the production processes associated with livestock farming.
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