Horticultural Lighting: Market Analysis and Forecast 2017
The horticulture lighting market is one of the most exciting potential markets for LED technologies to have a massive impact. Incumbent lighting technologies, including high pressure sodium, metal halide and fluorescent to name a few, are beginning to be replaced with LED. While energy efficiency continues to be the main factor behind the adoption of LED technologies in the horticultural illumination market, additional benefits, including their low heat, tunability and controllability will all accelerate their acceptance into the growing horticulture market. Strategies Unlimited has forecasted that the horticultural lighting market will grow more than 180% in the next five years, with LED comprising the majority of this growth.