Global LED Grow Light Market Size to Expand at 28.1% CAGR, Reaching New Heights
With the growing demand for the high efficiency offered by various high-intensity discharge (HID) light setups, the Global LED Grow Light Market Size, worth USD 3.01 billion in2023, is projected to follow an impressive CAGR of 28.1% between 2023 and 2029. The growth is exponential due to the increased adoption in indoor farming, the increasing demand for energy-efficient lighting solutions, and the rising need for sustainable agricultural practices. LED grow lights that emit customized light spectra to enhance plant growth are disrupting the agriculture and horticulture sectors. The press release elaborates the market definition, drivers, segmentation, country level share, the competitive landscape, and the next future outlook.
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