The rising popularity of indoor farming is expected to push the development of the grow light market 2020. The semiconductors and electronics industry reports are produced by Market Research Future, which highlights market options for expansion. A 13% CAGR is estimated o bolster the market income levels to USD 6 billion by the end of the forecast period.

The indoor farming revolution is one of the key factors that are motivating the grow light market size in the coming future. Moreover, the rise in the number of market players is estimated to benefit further the expansion of the grow light industry. The rise in the farming of hemp and cannabis, which are primarily grown through indoor farming is expected to positively impact the grow light market growth in the forecast period.

The report segments the industry based on product type, application and end-use. It highlights the recent trends and technological developments in the sector that will potentially influence the industry. The research offers a detailed outlook of the trends observed in the grow light market, the contributing factors, major stakeholders, key companies and prime areas that exhibit a potential for growth.   

Read more@ https://www.marketresearchfuture.com/reports/grow-light-market-2451

Competitive Analysis

The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The market is expected to record a stable growth rate in the coming years. Market competitors are expected to play a vital role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The competition in the market is manageable, which is inducing the entry of new players in the global market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period.

The fundamental contenders in the grow light markets are General Electric Company (U.S.), Gavita Holland B.V. (Netherlands),  Heliospectra AB (Sweden), Iwasaki Electric Co., Ltd. (Japan), Osram LichtAG (Germany), LumiGrow, Inc. (U.S.), Schreder B.V. (Netherlands), Royal Philips (Netherlands), Hortilux Sunlight Supply, Inc. (U.S.),   Platinum LED Lights LLC (U.S.) and others.