Horticulture Lighting Market was valued at US$ 2,730.8 Mn in 2020 and is projected to reach US$ 11,383.5 Mn by 2027 with a CAGR of 20.2% from 2020 to 2027 segmented into Technology, Application, Cultivation and Geography.
The horticulture lighting market was valued at US$ 2,730.8 million in 2019 and is expected to reach US$ 11,383.5 million by 2027; it is estimated to grow at a CAGR of 20.2% during 2020–2027.
Horticultural lighting is used in urban agriculture, multi-layer cultivation, supplemental lighting, and daylight-free cultivation. Due to increasing awareness about sustainable farming, researchers, governments, and organizations have taken global initiatives to improve horticulture with efficient and adequate lighting. Increase in demand for advanced lighting-related technologies is expected to boost the growth of the horticulture lighting market. Toshiba and Panasonic have started to support the farmers by providing financial and technical support to establish vertical farms. Such developments in vertical agriculture are boosting the growth of the horticulture lighting market.












