LAMEA Horticulture Lighting Market Size, Share & Industry Trends Analysis Report By Offering, By Technology, By Application, By Cultivation, By Lighting Type, By Installation Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Horticulture Lighting Market would witness market growth of 23.3% CAGR during the forecast period (2022-2028).
The growth of the horticulture lighting market is fueled by factors such as a growth in government initiatives toward the adoption of energy-efficient LEDs in horticulture, a rise in the use of high-quality yield, & a rise in awareness about the steady supply of crops despite unfavorable weather conditions in developing countries like as China & India. Although the market's growth is hampered by high costs and a lack of awareness of horticultural lighting. In addition, the incorporation of modern technologies in horticulture, as well as increased awareness of vertical & indoor farming, are expected to give profitable prospects for the horticulture lighting market to flourish.
Growing government initiatives to promote the use of energy-efficient LEDs in horticulture, as well as growing awareness among farmers in developing countries about the benefits of vertical & indoor farming practices, are boosting the horticulture lighting market. Continued research in horticulture lighting, sensor technologies, and cloud computing is assisting in the development of horticulture techniques and increasing demand for horticulture LED systems.
The Latin American, Middle Eastern, and African market for horticulture lighting systems is being boosted by government programs encouraging the implementation of modern & automated technologies in farming techniques. Horticulture lighting promotes crop yield, efficiency, & growth while also assisting in the production of higher-quality yields even in adverse weather conditions by creating an artificial climate tailored to the needs of various crops. Many developing nations are experiencing rapid population growth, which is putting pressure on food supplies. Horticulture lighting contributes to satisfying global food demands by improving crop productivity and thus market success.
The Brazil market dominated the LAMEA Horticulture Lighting Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $205.3 million by 2028. The Argentina market is estimated to grow at a CAGR of 24% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 23% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware and Software & Services. Based on Technology, the market is segmented into LED, HID, Fluorescent, and Others. Based on Application, the market is segmented into Greenhouses, Vertical Farms, Indoor Farms, and Others. Based on Cultivation, the market is segmented into Fruits & Vegetables, Floriculture, and Others. Based on Lighting Type, the market is segmented into Toplighting and Interlighting. Based on Installation Type, the market is segmented into New Installations and Retrofit Installations. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., LumiGrow, Inc., Heliospectra AB, Iluminar Lighting LLC., Gavita International B.V., California LightWorks, Valoya Oy, Hortilux Schréder, and Eye Hortilux.
Scope of the Study
Market Segments Covered in the Report:
- Software & Services
- Vertical Farms
- Indoor Farms
- Fruits & Vegetables
By Lighting Type
By Installation Type
- New Installations
- Retrofit Installations
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Signify N.V.
- LumiGrow, Inc.
- Heliospectra AB
- Iluminar Lighting LLC.
- Gavita International B.V.
- California LightWorks
- Valoya Oy
- Hortilux Schréder
- Eye Hortilux