LED Grow Light Market Overview, Trends, Revenue Analysis, Growth Rate and Regional Forecast 2027
Market Research Future published a research report on “LED Grow Light Market Research Report - Global Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027 Market Analysis Market Research Future (MRFR) estimates the global LED grow light market to reach USD 2.01 billion at a CAGR of 26.45% from 2019 to 2025 (forecast period). An LED grow light is a type of electric lighting that is used to stimulate plant growth by generating light that is suitable for photosynthesis. This device functions as an artificial light source, which is extensively used by agriculturalists to replace naturally occurring light. LED grow lights provide several advantages, including higher energy efficiency, minimal heat emission, and no need for a ballast. These lights are commonly used in vertical and indoor farming, as well as commercial greenhouses. However, the necessity for varied light spectrums for different crops, as well as the high cost of these lights, may li...