North American Cannabis Lighting Market, Market Analysis and Forecast 2019
The North American Cannabis lighting market is one of the most exciting potential markets for packaged LEDs today. It is the fastest growing sector within the global horticultural lighting market and will continue to have a massive impact on the market for the foreseeable future. Incumbent lighting technologies, including high pressure sodium, metal halide and fluorescent to name a few, are being replaced in large quantities by with LED. While energy efficiency continues to be a factor, additional benefits, namely increased plant productivity is the main drivers behind this growth in the market. Strategies Unlimited has forecasted that the LED cannabis lighting market will grow more than 300% in the next five years as US states continue to legalize the medical and recreational consumption of cannabis.
The report provides data for the total square footage of cannabis canopy space, annual installations (Square Feet) and market revenue ($/Square Foot) for Canada and every US state where cannabis is legal for medical and/or recreational purposes for both LED and incumbent lighting technologies. All data is forecasted through 2023 and is provided in an easy to use pivot tool that allows users to splice information in multiple ways.